August 2012 - Empire State Development - New York State

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City of Yonkers - Saw Mill River Daylighting Property Acquisition Capital (X917) August 16, 2012 Envisioned are the creation of new retail spaces, as well as new commercial, entertainment and cultural offerings similar to the successful urban river walks of Providence, Rhode Island and San Antonio, Texas. Upon completion of the daylighting project, the City will have established new public assembly spaces linking the downtown to several significant commercial development sites that have approvals to create up to 600,000 square feet of commercial, retail, entertainment, and office space that would bring up to 3,600 new permanent jobs to downtown Yonkers. Financing Uses Amount Financing Sources Amount Percent Property Acqusition $7,600,000 ESD Grant $8,000,000 100% Closing Costs 200,000 Relocation Costs 200,000 Total Project Costs $8,000,000 Total Project Financing $8,000,000 100% Grantee Contact Beneficiary Contact - Susan Gerry, Deputy Mayor, City of Yonkers 40 South Broadway Yonkers, NY 10701 Phone: (914) 377-6648 Fax: (914) 377-6000 - Wilson Kimball, President, New Main Street Development Corporation 40 South Broadway Yonkers, NY 10701 Phone: (914) 377-6150 Fax: (914) 377-6000 Project Team - Project Management Brendan Healey Legal Richard Dorado Contractor & Supplier Diversity Denise Ross Environmental Soo Kang 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 $8,000,000 will be disbursed to Grantee during the course of the project no more frequently than monthly upon, documentation of real estate and related costs and relocation project costs, assuming that all project approvals have been completed and funds are available. Payment will be made upon presentation to ESD of an 3
City of Yonkers - Saw Mill River Daylighting Property Acquisition Capital (X917) August 16, 2012 invoice and such other documentation as ESD may reasonably require. Expenditures must be incurred on or after May 24, 2012 to be considered eligible for ESD reimbursement. 4. ESD may reallocate the project funds to another form of assistance, at an amount no greater than $8,000,000, 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. Environmental Review: Pursuant to the State Environmental Quality Review Act (“SEQRA”), Article 8 of the Environmental Conservation Law, and its implementing regulations (6 NYCRR Part 617), ESD Directors previously adopted SEQRA Findings on September 14, 2010 for the City of Yonkers Initiatives Capital project based on the Final Environmental Impact Statement (“FEIS”) for the River Park Center, Cacace Center, Larkin Plaza, and Palisades Point project. By adoption of SEQRA Findings, the Directors certified that the requirements of 6 NYCRR Part 617 have been met. The present request for ESD funding does not constitute an action beyond those actions already considered in the FEIS and does not require additional environmental review under SEQRA. Due to the eligibility of the building at 127-129 New Main Street in Yonkers for inclusion in the State and National Registers of Historic Places, as well as the project area’s sensitivity for archaeological resources, ESD has confirmed that the project sponsor initiated consultation with the New York State Office of Parks, Recreation and Historic Preservation (“OPRHP”) pursuant to the requirements of Section 14.09 of the New York State Parks, Recreation and Historic Preservation Law. ESD will ensure that consultation is completed. Non-Discrimination and Contractor & Supplier Diversity: ESD’s Non-discrimination and Contractor Diversity policy will apply. The Grantee shall use their Good Faith Efforts to achieve a Minority and Women Business Enterprise (“MWBE”) Participation Goal of 5% related to the total value of ESD’s funding and to solicit and utilize Minority and Women Business Enterprise for any contractual opportunities generated in connection with the project. Statutory Basis – Capital Projects Fund – Economic Development/Other: The project was authorized in the 2012-2013 New York State budget. There is a feasible method for the relocation of families and individuals displaced from the project area into decent, safe and sanitary dwellings, which are or will be provided in the 4
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Page 73 and 74: municipality or region of the State
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Page 121 and 122: August 16, 2012 BRONX COUNTY - RIVE
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Page 127 and 128: FOR INFORMATION August 16, 2012 TO:
Page 129 and 130: Subsidiary Capital Budget Summary V
Page 131: Departmental Budget Variance Report
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August 2012 - Empire State Development - New York State

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