Agenda

Utica Industrial Development Agency

Regular Meeting – Wednesday, August 7, 2024 @ 9:00am

Utica City Hall, Utica, New York and via WebEx

1. Call to Order
2. Approval of Minutes (April 3, 2024 and May 17, 2024 spec)
3. Old Business
   A. Hotel Street Owners – ratify extension of the sales tax exemption
   B. People First – Broad and Chancellor - ratify extension of the sales tax exemption
   C. 1400 Broad, LLC/BGM Supply - ratify extension of the sales tax exemption
   D. Historical Park Apartments – Consider an inducement resolution relating to the HP Utica Preservation LLC Facility, providing preliminary approval for financial assistance in the form of a reduction of real property taxes for a period of 35 years (value estimated at $527,482), which financial assistance is a deviation from the Agency’s Uniform Tax Exemption Policy and authorizing the Agency to conduct a public hearing.

    4. New Business
         A. People First – AMP 001 – Preliminary presentation relating to the People First AMP 1, LLC Facility, in support of a future request 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

   5. Executive Session (if required)

   6. Adjourn

Members of the public may listen to the meeting by calling

 1-408-418-9388, Access code:   2633 884 5368      or joining the meeting at Meeting link: https://cityofutica.webex.com/cityofutica/j.php?MTID=ma6c9674c9fde6d15f2cd96001bbb2ddb Meeting password:     egPw3y7V62K

The Minutes of the Agency meeting will be transcribed and posted on the UIDA website.