WEBVTT 1 "jspaeth@cityofutica.com" (2052639744) 00:00:06.020 --> 00:00:25.940 Okay, my name is Jack Spaith. I'm Executive Director for the Unikon Industrial Development agency. We are here for a public hearing for Depal Columbia Square. Depalt Columbia Square LP on behalf of itself and or the principles of Depalt Columbia Square L. 2 "jspaeth@cityofutica.com" (2052639744) 00:00:26.470 --> 00:00:45.349 Or LP and or an entity formed or to be formed on behalf of any of the foregoing has applied to the agency to enter into a lease leaseback transaction in which the agency will assist in one acquisition of 18 parcels of land measuring 1.9 plus or minus acres in the aggregate. 3 "jspaeth@cityofutica.com" (2052639744) 00:00:46.349 --> 00:01:02.750 Located at 1021 and 1023 Earry Street, 24610 and twelve through 14 Saratoga Street. 1020 2201024103010321034 through 1036. 4 "jspaeth@cityofutica.com" (2052639744) 00:01:03.650 --> 00:01:23.170 1040 1048 1100 1104 1110, and 1114 Whitesborough Street all in the city of Eudica, Owenighta County, New York, two demolition of the structures located on the land, three construction on the land of a multi family housing facility with six. 5 "jspaeth@cityofutica.com" (2052639744) 00:01:23.410 --> 00:01:51.330 The six residential units together with laundry, community rooms, residential storage, parking and infrastructure to serve the same service the same. And for acquisition and installation of furniture fixtures and equipment in the improvements, all to be beneficially owned and operated by the company as an affordable and supportive housing facility to enhance economic development and retain employment in the city of Eudica. 6 "jspaeth@cityofutica.com" (2052639744) 00:01:52.490 --> 00:02:12.450 Yeah Columbia, sorry, square housing, development Fund corporation will be the fee owner of the facility as nomineee and the company will be the beneficial owner of the facility and when it will initially operate the facility. 7 "jspaeth@cityofutica.com" (2052639744) 00:02:13.430 --> 00:02:30.150 The company will lease the facility to the agency for a term of approximately 32 years. The agency will lease the facility back to the company for the lease term and the company will further sub lease the facility to residential tenants to be determined from time to time. 8 "jspaeth@cityofutica.com" (2052639744) 00:02:30.750 --> 00:02:48.830 At the end of the lease term, the agency will terminate its leasehold interest in the facility. The agency contemplates that it will provide financial assistance to the company in the form of abatement of real property tax for a period of approximately 32 years. During which time the company will pay as. 9 "jspaeth@cityofutica.com" (2052639744) 00:02:49.300 --> 00:03:09.140 Pilot payments one during the construction period an amount equal to the taxes calculated using the assess assessment of the land for the 2025 taxable status date and two following the construction period payments for 30 years equal to 7 % of the effective growth. 10 "jspaeth@cityofutica.com" (2052639744) 00:03:09.339 --> 00:03:33.179 Income of the facility, which financial assistance is a deviation from the agency's uniform a tax exempt policy. I doubt that anybody will show up. I I've only had, I think one public hearing where people. 11 "jspaeth@cityofutica.com" (2052639744) 00:03:33.570 --> 00:04:00.010 Actually showed up for a, it was for a housing development up in North Eureka, the Dearfield project and the it was the entire union of guys with the yellow, the ne neon yellow or green, whatever shirts showed up in force because they didn't feel that local local contractors were being used so kind of scary. 12 "Gillian Conde" (2981414144) 00:04:01.167 --> 00:04:04.167 It's intimidating, yeah. Yeah, so. 13 "jspaeth@cityofutica.com" (2052639744) 00:04:05.207 --> 00:04:08.726 When, what is your demolition schedule? 14 "Jon Penna" (1633612032) 00:04:10.627 --> 00:04:27.067 Yeah, assuming, assuming we receive an award, we, if it's like last year, those were rolled out in March? February, February March. 15 "Jon Penna" (1633612032) 00:04:27.889 --> 00:04:56.209 So that would be February February or March of 2026. We've got some relocations of some existing residents that we'll have to take care of and they're, they're allowed at a minimum of 90 days advanced notice, which we can't provide until we know that we have an award. So demolition at the earliest would be, we'd probably be be looking at late May, early June. 16 "jspaeth@cityofutica.com" (2052639744) 00:04:58.396 --> 00:05:06.076 2026. And when do you go for this new round? Is it, does it start within within the month or so? 17 "Jon Penna" (1633612032) 00:05:06.447 --> 00:05:10.646 Yeah, the applications are due on 11 September, so. 18 "Gillian Conde" (2981414144) 00:05:13.501 --> 00:05:15.380 Working on them right now. Gotcha. 19 "Jon Penna" (1633612032) 00:05:16.505 --> 00:05:18.185 The the timing is perfect. 20 "jspaeth@cityofutica.com" (2052639744) 00:05:19.744 --> 00:05:47.544 Good, the my next meeting, whether I, and I I'm assuming that we can go to a final is probably going to be on the 20th. I'll check with Laura. She was out on vacation for a few days. So I have I've got three applications into her for review, so hopefully she doesn't come here and kick kick the crap out of me for overloading or whatever. 21 "Jon Penna" (1633612032) 00:05:47.625 --> 00:05:49.025 Locations at one time. 22 "jspaeth@cityofutica.com" (2052639744) 00:05:49.058 --> 00:05:51.018 Yeah, they come in and. 23 "Jon Penna" (1633612032) 00:05:51.361 --> 00:05:53.482 Would that be 20 August Jack? 24 "jspaeth@cityofutica.com" (2052639744) 00:05:54.805 --> 00:05:58.006 Correct. Yeah Wednesday probably 08:30. 25 "Jon Penna" (1633612032) 00:05:59.086 --> 00:06:00.206 Yeah, that that's perfect. 26 "jspaeth@cityofutica.com" (2052639744) 00:06:00.261 --> 00:06:09.261 Perfect. Yeah, I'll talk to her later today and then to, you know, firm that up. So I'm sure that she'll be reaching out at some point. 27 "Gillian Conde" (2981414144) 00:06:10.285 --> 00:06:12.924 If that's a go jack, would you prefer us to be there in person? 28 "jspaeth@cityofutica.com" (2052639744) 00:06:14.097 --> 00:06:15.098 No, you don't even need. 29 "Gillian Conde" (2981414144) 00:06:15.183 --> 00:06:16.263 You too. Oh, ok. 30 "jspaeth@cityofutica.com" (2052639744) 00:06:17.227 --> 00:06:32.586 Yeah, once we get past the, if there's NO comments which I usually note to the agency members that you know NO one from the public had any comment then, then we just, you know, it's kind of a formality at that point. Thank you, ok. Yeah. 31 "Jon Penna" (1633612032) 00:06:36.804 --> 00:06:39.244 You have some other housing projects going in? 32 "jspaeth@cityofutica.com" (2052639744) 00:06:41.463 --> 00:06:42.543 Let's, let's see. 33 "jspaeth@cityofutica.com" (2052639744) 00:06:44.669 --> 00:07:04.749 What do I have? Yeah I have one one of the application one of the applications is on bleakers for a storage facility. The other is a company that is, they're called Ebliss global. So they are an electric bike manufactur. 34 "Gillian Conde" (2981414144) 00:07:06.841 --> 00:07:07.521 Yeah, so we're. 35 "jspaeth@cityofutica.com" (2052639744) 00:07:07.620 --> 00:07:12.500 Kind of happy for that, you know, another, you know, it's good to have manufacturing in your city. 36 "Gillian Conde" (2981414144) 00:07:12.661 --> 00:07:14.181 You know, whenever you can absolutely. 37 "jspaeth@cityofutica.com" (2052639744) 00:07:15.402 --> 00:07:34.202 So, and then the other is down in in the Columbia square neck of the woods. If you're, if you've driven around, I don't know if whether you know the name of it, but there's a an old factory used to beyosam. And before that it was dunlock. 38 "Gillian Conde" (2981414144) 00:07:34.883 --> 00:07:36.403 Big building up on the corner. Right, right. 39 "jspaeth@cityofutica.com" (2052639744) 00:07:37.038 --> 00:08:01.678 So that is being developed into, 35, very high end, you know, like loft residential units, 25000 sq ft for parking, space for kind of like a restaurant little store, you know, for the, for the tenant. So that'll be, that'll kind of condo out. 40 "jspaeth@cityofutica.com" (2052639744) 00:08:02.828 --> 00:08:25.589 At some point, I think they have like a two year window that they need to keep it rental before, before they can do the, the condo. And, there's a, if you recall, there's a tall tower associated with that building. Supposedly they're looking at that as, probably like a, a bouti. 41 "Gillian Conde" (2981414144) 00:08:26.642 --> 00:08:27.761 Oh, that'd be cool, wouldn't it? 42 "jspaeth@cityofutica.com" (2052639744) 00:08:27.944 --> 00:08:30.063 Yeah, it's kind of a neat. 43 "Gillian Conde" (2981414144) 00:08:30.117 --> 00:08:31.276 The concept. Yeah. 44 "jspaeth@cityofutica.com" (2052639744) 00:08:31.646 --> 00:08:49.845 And then I think there's still one more chunk of, of the property that he was looking to spin to somebody else for other purposes but yeah so I've we've done a number of housing units obviously assisting you are do you know Bob Kelly? 45 "jspaeth@cityofutica.com" (2052639744) 00:08:51.231 --> 00:08:58.271 No. Okay, he he's it was municipal housing authority, but then it, they changed their name to people 1st. 46 "Gillian Conde" (2981414144) 00:08:58.824 --> 00:09:03.623 So they have. Oh, there are two people 1st is. Okay. Yep yep yep ok. 47 "jspaeth@cityofutica.com" (2052639744) 00:09:03.617 --> 00:09:09.376 Okay, so if you recall the fact, the other factory or warehouse that was. 48 "jspaeth@cityofutica.com" (2052639744) 00:09:10.859 --> 00:09:28.059 On Mohawk and broad. There was a large building there so they've totally transformed that into, I don't know, probably like a hundred units, but they've gone around the town and and have done quite a few housing projects. They've got one that's gonna be. 49 "jspaeth@cityofutica.com" (2052639744) 00:09:29.159 --> 00:09:48.559 Starting on, I mean we only have like a minute or so for before we end the on James James street. So they're going to be taking down some property on James and the West area, and then over where most. 50 "jspaeth@cityofutica.com" (2052639744) 00:09:48.959 --> 00:09:52.279 Valley community colleges. There's army armory jo. 51 "Gillian Conde" (2981414144) 00:09:52.363 --> 00:09:58.763 Five. Yeah I've been seeing the people 1st signs, but I did not know that that's who it was. 52 "jspaeth@cityofutica.com" (2052639744) 00:09:59.626 --> 00:10:23.186 Right, right. So, they, there's three different apartment complexes over there. There's FX mad, Adrian Terrace and Ndy Peters. So there's probably a total of like 300 units there in the number of buildings, so their plan is to tear all of that down and then to put up new housing, it's just, it's probably like forties or 50 stock. 53 "jspaeth@cityofutica.com" (2052639744) 00:10:23.679 --> 00:10:43.359 So it's, it's antiquated in, in its systems and trying to heat properly run lines, insulation is probably, you know, very poor, so they're looking to really make a boom with that. So they've been moving along at a pretty good click on. 54 "jspaeth@cityofutica.com" (2052639744) 00:10:43.639 --> 00:10:46.959 On a lot of the affordable type of housing throughout. 55 "Gillian Conde" (2981414144) 00:10:47.863 --> 00:10:49.343 How's global Mills doing Jack. 56 "jspaeth@cityofutica.com" (2052639744) 00:10:51.546 --> 00:11:22.666 That is it's always a source subject for, for most, but they they during COVID they had a 3rd party in their management group. Right, right, right. But then they have brought that in house, so they're I think they're making strides into, you know, stabilizing it, putting it back, you know, it's, it's a beautiful building compared to you know they've done a great job, but unfortunately people were literally just walking out out the door with appliances and. 57 "jspaeth@cityofutica.com" (2052639744) 00:11:23.209 --> 00:11:36.449 You know, just, you know, partying in the hallways and smoking and doing all this stuff yeah so there I think they've you know kind of squelched a lot of that noise, so hopefully they're on there. That's good cause it is. 58 "Gillian Conde" (2981414144) 00:11:36.566 --> 00:11:39.405 Beautiful and it's great, it's a great location and it's a beautiful. 59 "jspaeth@cityofutica.com" (2052639744) 00:11:39.862 --> 00:11:42.301 Building. It is and it's right on, you know, main line. 60 "Gillian Conde" (2981414144) 00:11:42.601 --> 00:11:46.521 And stuff like that. Well it came up a lot in our community meetings for columbia. 61 "jspaeth@cityofutica.com" (2052639744) 00:11:47.398 --> 00:11:48.038 Right on. 62 "Gillian Conde" (2981414144) 00:11:48.905 --> 00:11:56.265 Because that well because that neighborhood was for it thinking it was really gonna be a a great asset so I'm really squeezing for and hoping. 63 "jspaeth@cityofutica.com" (2052639744) 00:11:56.445 --> 00:11:57.725 That it can yeah. 64 "Gillian Conde" (2981414144) 00:11:57.725 --> 00:11:58.804 You know, get there. 65 "jspaeth@cityofutica.com" (2052639744) 00:12:01.022 --> 00:12:23.262 Okay, well, being that there are NO comments and NO one's showing up here, then I will close the public hearing and I wish you guys or Gay and Gal and have a good day and always call me with any questions, keep me informed of the progress, and I'm sure we'll be in touch with you know about the final resolution stuff. 66 "Jon Penna" (1633612032) 00:12:24.384 --> 00:12:25.104 Thank you so much. 67 "jspaeth@cityofutica.com" (2052639744) 00:12:25.478 --> 00:12:33.197 Jack, we appreciate your help always. Oh, of course. Have a great day. Take good care. Bye bye. Thanks all. Bye. Yeah, bye bye.