NEW YORK STATE URBAN DEVELOPMENT CORPORATION d/b/a ...

GGLDC - Western New York Science, Technology and Advanced Manufacturing Park Capital
(X544)
April 17, 2012
Financing Uses Amount Financing Sources Amount Percent
Land Acquisition $433,000 ESD Grant $2,000,000 85%
Roadways and Other
Infrastructure
Consultant Fees for
600,000 National Grid 350,000 15%
engineering, design and
environmental studies
Consultant Fees for legal
667,000
work related to
environment & zoning
200,000
Project Manager's Fee 100,000
Marketing Expenses 350,000
Total Project Costs $2,350,000 Total Project Financing $2,350,000 100%
Financial Terms and Conditions:
1. Upon execution of the grant disbursement agreement, the Grantee shall reimburse
ESD for all out-of-pocket expenses incurred in connection with the project.
2. The Grantee will be obligated to advise ESD of any materially adverse changes in its
financial condition prior to disbursement.
3. Up to $2,000,000 will be disbursed to Grantee no more frequently than monthly, for
project expenses actually incurred by the Grantee. Payment will be made upon
presentation to ESD of an invoice and such other documentation as ESD may
reasonably require. All project expenditures must have been incurred after April 1,
2011, the date that the New York State budget, in which the project is authorized, was
passed. The final ten percent (10%) of the Grant shall not be disbursed by ESDC until
all of the tasks and reports required have been completed to ESD's satisfaction.
4. ESD may reallocate the project funds to another form of assistance, at an amount no
greater than $2,000,000, for this project if ESD determines that the reallocation of the
assistance would better serve the needs of the Grantee and the State of New York. In
no event shall the total amount of any assistance to be so reallocated exceed the total
amount of assistance approved by the Directors.
Grantee Contact
- Mark A. Masse, Senior Vice President of Operations
99 MedTech Drive
Batavia, New York 14020
Phone: (585) 343-4866 x17 Fax: (585) 343-0848
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