Agenda
Utica Industrial Development Agency
Regular Meeting – Wednesday, November 2, 2022 @ 9:00am
Utica City Hall, Utica, New York and via WebEx
1. Call to Order
2. Approval of Minutes (September 7, 2022)
3. Old Business
A. Artspace Utica Lofts, L.P. Facility
Consider a SEQR resolution relating to the Artspace Utica Lofts, L.P. facility. The City of Utica Planning Board acted as lead agency for the project and determined it was a “Negative Declaration” Action. The Agency wishes to adopt the findings and determinations of the lead agency.
Consider a final authorizing resolution relating to the Artspace Utica Lofts, LLC Facility, authorizing financial assistance in the form of reduction of real property tax for a period of 32 years (valued at $6,845,270), which is a deviation from the Agency’s Uniform Tax Exemption Policy and approving the form and execution of related documents, all in the Agency’s standard form and subject to counsel review. The Agency conducted a public hearing on September 21, 2022, and mailed deviation notices to the taxing jurisdictions on September 27, 2022.
B. 268 Genesee Street, LLC – Ratify a request from 268 Genesee Street, LLC for an extension of the sales tax exemption.
C. Burrstone Road Associates, LLC - Ratify a request from Burrstone Road Associates, LLC for an extension of the sales tax exemption.
D. 311 Main Street Holdings, LLC - Consider a final authorizing resolution relating to the 311 Main Street Holdings, LLC Facility, authorizing financial assistance in the form of exemptions from sales tax (valued at $48,975.00), exemptions from mortgage recording tax (value increased from $30,625 to $42,480) and reduction of real property tax for a period of 12 years (valued at $451,080), which is a deviation from the Agency’s Uniform Tax Exemption Policy and approving the form and execution of related documents, all in the Agency’s standard for and subject to counsel review. The Agency conducted a public hearing on April 19, 2022 and delivered deviation notices to the taxing jurisdictions on October 25, 2022.
E. 1002 Oswego Street, LLC/United Auto Supply Facility - Consider an amendment to the final authorizing resolution relating to the 1002 Oswego Street, LLC/United Auto Supply Facility, authorizing an increase in mortgage recording tax exemption (from $18,750 to $28,545) and approving the form and execution of related documents.
F. Bowers Development update
4. New Business
A. Chancellor Apartments - Consider an inducement resolution relating to the Impact Utica – Chancellor Broad, LLC (417 Bleecker Street) Facility, providing preliminary approval for financial assistance in the form of exemptions from sales tax (valued at $875,000), and reduction of real property tax for a period of 33 years (valued at $5,784,640), which financial assistance is a deviation from the Agency’s Uniform Tax Exemption Policy and authorizing the Agency to conduct a public hearing.
B. Broad Street - Consider an inducement resolution relating to the Impact Utica – Chancellor Broad, LLC (700 Broad Street) Facility, providing preliminary approval for financial assistance in the form of exemptions from sales tax (valued at $1,750,000), and reduction of real property tax for a period of 33 years (valued at $5,219,664), which financial assistance is a deviation from the Agency’s Uniform Tax Exemption Policy and authorizing the Agency to conduct a public hearing.
5. Executive Session (if required)
6. Adjourn
Members of the public may listen to the Agency meeting by calling 1-408-418-9388,
Access code: 2633 459 9868 or joining the meeting at Meeting link:
https://cityofutica.webex.com/cityofutica/j.php?MTID=meb57998534e9cf7080eba5653eda0e99 Meeting password: xmM8MNfT2s2
The Minutes of the Agency meeting will be transcribed and posted on the UIDA website.
