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

More documents

Recommendations

Info

Regional Council: The North Country Regional Council has been made aware of this item. The Incentive Offer was accepted in April 2012. The project is consistent with the Regional Plan to promote and encourage new biotech and pharma related investments in the region. II. Project Cost and Financing Sources Financing Uses Amount Landscape, pest control, utilities, telephone, water treatment, fire protection inspection, elevator and systems maintenance $681,564 Insurance, legal, staffing, security, administration and promotion 428,200 Property Tax Abatement 258,000 Contingency 90,236 Total Project Costs $1,458,000 Financing Sources Amount Percent ESD-Grant $1,200,000 82% Town of Chazy* 258,000 18% Total Project Financing $1,458,000 100% *Equity Contribution from the Town of Chazy, Clinton County and Chazy Central Rural School District in the form of waived property taxes. III. Project Description A. Company Industry: Real Estate Company History: CIDA was created by the County of Clinton Industrial Development Agency (“CCIDA”) in April 2012 to acquire and maintain the Facility in Chazy. CCIDA was formed in 1971 and undertakes a wide variety of industrial development projects. Ownership: The Company is 100% wholly owned by the CCIDA. Size: The Facility is approximately 55 acres in size and has multiple buildings totaling approximately 300,000 square feet. All facilities are located in Chazy, NY. 2
Market: Real Estate and Industrial/Economic Development ESD Involvement: After the acquisition of Wyeth by Pfizer in 2009, the decision was made to exit the Facility due to redundancy with other existing Pfizer research facilities and the retraction of Pfizer’s in-house research activities. From 2009 to 2010, the employee base was reduced until only a basic maintenance staff was left in place. During the two years since the closing, Pfizer has maintained the Facility and has also employed two different internationally known marketing firms to market the Facility. The current marketing firm is Cushman and Wakefield. Competition: N/A Past ESD Support: N/A B. The Project Completion: June 2014 Over the last two years, there has been cursory interest in the Facility and site by potential purchasers. Barriers to purchase include significant operational costs and the large size of the Facility. The Facility was originally scheduled for auction on February 4, 2012 (rescheduled for April 2, 2012), but at the request of ESD, Pfizer has delayed the auction. CCIDA, through CIDA, will acquire the Facility from Pfizer at a nominal cost so that the pending auction can be forestalled. This will provide more time and opportunity to present the Facility for acquisition by a responsible party, which would create investment and employment opportunities. ESD proposes to make a working capital grant of $1,200,000 to CIDA for operational costs while the Facility is being marketed to a new end user. Activity: CIDA will acquire, maintain and promote the Facility to potential new end users. The site has been used, continually upgraded and improved as a premier pharmaceutical research facility, has sophisticated private water and sewage treatment facilities, and is served by natural gas. CIDA intends to enter into a management agreement with a third party for the day-to-day operations of the Facility. Results: The project is expected to engage an end user that will create investment and employment opportunities in Chazy. 3
Page 1 and 2:
NEW YORK STATE URBAN DEVELOPMENT CO
Page 3 and 4:
II. DISCRETIONARY PROJECTS - Contin
Page 5 and 6:
DRAFT - SUBJECT TO REVIEW AND REVIS
Page 7 and 8:
Page 9 and 10:
Page 11 and 12:
Page 13 and 14:
Page 15 and 16:
Page 17 and 18: DRAFT - SUBJECT TO REVIEW AND REVIS
Page 33 and 34: FOR CONSIDERATION April 17, 2012 TO
Page 35 and 36: funds used to capitalize Innovate N
Page 37 and 38: VI. Affirmative Action ESD’s Non-
Page 39 and 40: Schedule A Innovate NY Fund- Summar
Page 43 and 44: Size: STREDC has a board consisting
Page 45 and 46: c) a Third Disbursement of an amoun
Page 47 and 48: April 17, 2012 Regional Council Awa
Page 49 and 50: Rural Initiative Venture Fund South
Page 51 and 52: Proposed Project: Establish a regio
Page 53 and 54: Grantee Contact: Diane Lantz, Execu
Page 55 and 56: 9. ESD may reallocate the project f
Page 57 and 58: RESOLVED, that the President and Ch
Page 59 and 60: Proposed Project: Establish a regio
Page 61 and 62: enhance the effectiveness of ESD’
Page 63 and 64: 8. Grantee will report quarterly on
Page 65 and 66: April 17, 2012 Regional Council Awa
Page 67: FOR CONSIDERATION April 17, 2012 TO
Page 71 and 72: the Grantee for expenditures incurr
Page 73: 7 April 17, 2012 Chazy (North Count
Page 87 and 88: Regional Council: The Central New Y
Page 89 and 90: Project Team: Origination Ray Lawre
Page 91 and 92: is less than eighty-five percent 85
Page 93 and 94: V. Environmental Review ESD staff h
Page 95 and 96: State Division of the Budget; and b
Page 97 and 98: Huhtamaki MAP Capital Fulton Oswego
Page 99 and 100: Employment: Initial employment at t
Page 101 and 102: 300,000 packed boxes to 700,000 pac
Page 103 and 104: (iv) 40% of the disbursed amount if
Page 105 and 106: VI. Affirmative Action ESD’s Non-
Page 109 and 110: Project Summary Benefit-Cost Evalua
Page 113 and 114: 2. Each proposed project would be u
Page 117 and 118: A. Precisionmatics Capital (X328) A
Page 119 and 120:
A. Precisionmatics Capital (X328) A
Page 121 and 122:
Baseline Employment A. Precisionmat
Page 123 and 124:
B. D4 Capital (X249) April 17, 2012
Page 125 and 126:
Page 127 and 128:
Page 129 and 130:
Strategic Investment Program (Senat
Page 131 and 132:
April 17, 2012 Local Assistance - F
Page 133 and 134:
April 17, 2012 Strategic Investment
Page 135 and 136:
A. GGLDC - Western New York Science
Page 137 and 138:
GGLDC - Western New York Science, T
Page 139 and 140:
Page 141 and 142:
Page 143 and 144:
EXHIBIT A STATE ENVIRONMENTAL QUALI
Page 145 and 146:
e-orienting proposed development ar
Page 147 and 148:
approximately 24,000 linear feet of
Page 149 and 150:
In addition to the site selection c
Page 151 and 152:
natural gas, electricity, or broadb
Page 153 and 154:
The Project will require additional
Page 155 and 156:
Findings While it is impossible to
Page 157 and 158:
Work within streams and other water
Page 159 and 160:
consideration the data provided wit
Page 161 and 162:
Project Site will be set aside as c
Page 163 and 164:
Air pollution control systems inclu
Page 165 and 166:
Intersection turning movement traff
Page 167 and 168:
threshold is reached or when the Pr
Page 169 and 170:
e limited to smaller buildings whic
Page 171 and 172:
In addition to the required alterna
Page 173 and 174:
. Implementation of the recommendat
Page 175 and 176:
Potential for increase in motor veh
Page 177 and 178:
year old age range from the Genesee
Page 179 and 180:
Agricultural Resources Discussion o
Page 181 and 182:
cumulative impacts are impacts on t
Page 183 and 184:
Ancillary/Secondary Growth The Proj
Page 185 and 186:
epresents less than 1% of the total
Page 187 and 188:
utilization of renewable energy res
Page 189 and 190:
CERTIFICATION OF FINDINGS Having co
Page 191 and 192:
B. Town of Islip - Drainage Improve
Page 193 and 194:
Financial Terms and Conditions: Tow
Page 197 and 198:
FOR INFORMATION April 17, 2012 TO:
Page 199 and 200:
CO. VENDOR NAME ORIG CONT DATE REAS
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?