0:16 : Jack Spaeth : Live stream that's on on YouTube. Okay. So I have to, it's by law that we have to do that. Might Expo your last name again? Oh E H R O E B H L E H R Clear? Yep. Sorry. No y'all good.
0:36 : Jack Spaeth : Now I used to have these in hold them for like a half an hour. I down to like fifteen minutes and then it's just like, nope, I'm just gonna pretend. Oh really just wait for somebody to show up. Nobody shows up then it's just like why am I gonna sit here for, you know, all that time and just, you know, so basically I haven't you know I put this on, on mute and then.
0:58 : Jack Spaeth : Took part an hour what we're saying? Yeah, no, I have to hit the record button. That's why we still have two minutes and then I'll read all of this. How did, you know what? So he told me that like a month ago or whatever that you you asked for Jim doing I'm like, how did I have Jim beam I never never occurred me like how do you not have Jim beam? Yeah. Oh yeah, yeah.
1:16 : Jack Spaeth : Yeah, I I have no clue. But then for for the longest time all he had to go. Didn't have Jim beam. Like Jim Beam's like, yeah, I don't like the first thing you buy. Yeah it's like. Yeah teed ups. Yeah. Yeah, they have jack gangoes, but I don't I don't drink I can't drink coke, you know, caffeine and ****. So, I'm worried.
1:38 : Jack Spaeth : Yeah, like I need more.
1:44 : Jack Spaeth : But Alejandro was Woodford. Whoa, I drink of woodford. You know Woodford is not better. No, but it's just, you know, it's not doing that. Yeah, but it's a it's a price level above too. Yeah, it's also kind of a weird place to drink with her. Yeah, I know.
2:05 : Jack Spaeth : So yeah I'm just gonna take in.
2:07 : Jack Spaeth : I'll click this, it'll start recording, give it, you know, a couple seconds. I'll read through this and then I'll put it on mute and yeah if anybody come, you know, no one's gonna come at the office all or be online that they do it. Well, maybe, you know, but I put it out in the paper, it's on the website, you know, on the city's website.
2:29 : Jack Spaeth : Yeah, yeah.
2:38 : Jack Spaeth : There, my name is Jack Smith with this on the executive director for the Uniqua Industrial development Agency. We are here for a public hearing for the Eudica Harbor Point LLC project. Uuica Harbor Point LLC on behalf of itself and or the principles of Harbor Point LLC or and or.
2:58 : Jack Spaeth : An entity or entity's formed or to be formed on behalf of any of the foregoing has applied to the agency to enter into a lease lease leaseback transaction in which the agency will assist in the acquisition of parcels of land measuring two point four five three plus or minus acres in the aggregate located at.
3:20 : Jack Spaeth : Oh one north Genesist Street, Uticon Utika Harbor Point City of Eudica O United County, New York. To undertake the following. One.
3:31 : Jack Spaeth : Construction of a five story mixed use building containing a total of approximately forty four market rate residential units on the top three floors, office commercial, and retail space on the second floor, Parking for residents and patrons on the ground floor together with all infrastructure to support the same.
3:53 : Jack Spaeth : Acquisition and installation of furniture fixtures and equipment in the mixed use improvements all designed to attract residents that are currently either underserved by Eudica's existing Martin apartment stock or living outside the city and to fill a demonstrated need for market rate housing.
4:15 : Jack Spaeth : I'll.
4:19 : Jack Spaeth : And B, adaptive reuse and renovation of a historic nineteen thirty three, Canal building into an eight thousand plus or minus square foot event center and bridge connecting to the multi, to the mixed use improvements together with all parking and infrastructure to support the same.
4:40 : Jack Spaeth : Acquisition and installation of furniture of fixtures and equipment in the event center improvements.
4:52 : Jack Spaeth : The land, the mixed used facility and the event center facility are referred to collective to collectively as the facility and the mixed mixed use project and the event center project are referred to collectively as the project, all of which are and furtherness of enhancing economic.
5:17 : Jack Spaeth : Transformative or destination oriented development, the facility will be initially operated by the company. The company will lease the facility to the agency for a term of approximately twenty years.
5:28 : Jack Spaeth : The agency will lease the facility back to the company for the least term. The company will further sub lease, sub lease residential units in the mixed use facility to residential tenants to be determined from time to time and will sub sublease the commercial portions of the mixed use facility to restaurants and retail tenants.
5:49 : Jack Spaeth : At the end of the lease term, the agency will terminate its placehold interest in the facility. The agency contemplates that it will provide financial assistance to the company and the form of exemptions from sales and use tax on materials incorporated into the facility Exemptions from mortgage recording taxes and abatement of real property tax for.
6:09 : Jack Spaeth : A period of twenty years during which time the company will pay fixed pilot payments. Pilot payments will be allocated amongst taxing jurisdictions in the same proportion as taxes would be allowed but but not for the agency's involvement unless the taxing jurisdiction jurisdictions enter into a written agreement, assigning a different.
6:30 : Jack Spaeth : Allocation. The proposed financial assistance is a deviation from the agency's uniform tax exemption policy, more particular, particularly described in the inducement resolution adopted by the agency on October twenty first, two thousand twenty six and to be confirmed in a finance final authorizing resolution to be adopted by the agency.
6:52 : Jack Spaeth : The closing of the transactions described herein.
13:21 : Jack Spaeth : Being that there was no other attendance besides the company itself and no comments made to the project and closing the public hearing. Thank you.