Agenda
Utica Industrial Development Agency
Special Meeting – Wednesday, August 21, 2024 @ 9:00am
Utica City Hall, Utica, New York and via WebEx
- Call to Order
- Approval of Minutes (August 7, 2024)
- Old Business
A. Historical Park Apartments – Consider a final authorizing resolution relating to the HP Utica Preservation LLC Facility, providing final approval for financial assistance in the form of a reduction of real property taxes for a period of 35 years during which time the Company will pay an annual PILOT Payment of 3.0% of Effective Gross Income (value estimated at $527,482), which financial assistance is a deviation from the Agency’s Uniform Tax Exemption Policy, and authorizing the form and execution of related documents, subject to counsel approval.
B. Lahinch Utica III LLC – Consider an extension of the Sales Tax Exemption for the Mayro Building project
C. 1400 Broad, LLC - Consider an extension of the Sales Tax Exemption for the Mayro Building project
4. New Business
A. People First – AMP 1 – Consider an Inducement resolution relating to the People First AMP 1, LLC Facility, granting preliminary authorization for financial assistance in the form of exemptions from sales tax (valued at $7,875,000), exemptions from mortgage recording tax (valued at $195,000.00) and reduction of real property tax for a period of 30 years during which time the Company will pay an annual PILOT Payment of 3.5% of Effective Gross Income (valued at $45,096,251), which financial assistance is a deviation from the Agency’s Uniform Tax Exemption Policy and authorizing the Agency to conduct a public hearing.
B. People First – AMP 1 – Consider a SEQR Resolution
C. Finance Committee – Approval 2025 Budget
5. Executive Session (if required)
6. Adjourn
Members of the public may listen to the meeting by calling 1-408-418-9388,
Access code: 2634 807 6019 or joining the meeting at Meeting link: https://cityofutica.webex.com/cityofutica/j.php?MTID=m0c3699d2084c51df6f8595108b77c1a9
Meeting password: dSWG44XezM3
The Minutes of the Agency meeting will be transcribed and posted on the UIDA website.
