WEBVTT

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Okay, um, this executive director for the.

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Utica industrial development agency, opening the public hearing.

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The agency previously provided financial assistance to 1002.

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As we go street.

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Relating to the acquisition of a 7 acre parcel.

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A vacant land formerly known as the buzzer site located at 1002.

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As we go street, so you've got United county in New York.

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Be the construction on the land of a 20,000 square foot.

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Mixed use commercial and retail building.

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And acquisition and installation of machinery and equipment in the commercial improvement.

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In the commercial improvements, all for the purpose of the.

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Distribution of auto automotive parts in lubricant.

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And providing a regional headquarters for United Auto supply.

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And see the proposed construction of 2000.

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There are 2 point, uh, plus or .

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Acre parcel situated on the land of a commercial.

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Slash retail structure and acquisition and installation of machinery and equipment in the retail.

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Improvements all all for providing a retail, convenient store or other.

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Equivalent retail slash commercial use, um.

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The company leases the facility to the agency and the agency leases the.

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Facility back to the company pursuant to a leaseback agreement dated as of May 1st, 2013.

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The company in turn sub lisa's, portions of the.

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Commercial facility to a United Auto supply of.

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Syracuse West Inc, uh, B, United.

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Uh, upstate cerebral palsy and see organ.

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For operation, the company makes payments in lieu of taxes.

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Pursuant to a pilot agreement dated as of me 1st.

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2013 between the agency and the company.

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The company has applied to the agency to enter into an amended.

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Amended transaction.

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In which the agency will assist in a 1.

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The construction of a 21600+or minus square foot building.

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To release to the, to allow for growth and expansion of its integrated behavioral health.

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Clinic which addition, uh, which will be constructed in lieu of.

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Or, in lieu of the retail improvements.

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To the renovation of the commercial improvements to allow for the expansion of the.

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So, let's see for the purpose of providing wholesale distribution of automotive parts in lubricant and 3.

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The acquisition and installation of equipment in the addition of the commercial improvements.

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Uh, and the construction and equipping of the addition.

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And the renovation and equipping of the commercial facilities referred to.

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Uh, is the 2022 project?

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The company will at least the 2022 facility to the agency and the agency.

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Uh, in the company will amend the lease back agreement.

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To add and include the 2022 facility and the 2022 project.

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At the end of the lease term, the agency will terminate its leasehold interest in the facility.

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The agency contemplates that it will provide financial assistance to the company in the form of exemptions from sales and use tax on the purchases.

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Relating to the 2022 project exemptions from mortgage recording taxes.

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And reduction of real property taxes on the increased, the assessment.

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Uh, the resulting from the 2022 project for a period of 5 years.

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During which time the company will pay no increase taxes in year. 1.

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30% of increased taxes in year. 240% of increased taxes in the year. 3.

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50% of increased taxes in year 4 and 75% of increased taxes in year. 5.

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Which proposed financial assistance is a deviation from the agency's uniform tax exempt policy.

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To be, uh, more particularly described in the final authorizing resolution to be adopted by the agency prior to the closing of the transactions described here.

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If you could have gotten black hey, Jeff, did you get the FedEx that I sent?

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Overnight, um, I didn't it may be coming today then.

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I wasn't in yesterday and I don't see it on my desk. Yes, it should arrive by 10. 0 am this morning.

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So, I just didn't know FedEx and deliver it. It should have everything.

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You need yeah, they're pretty good. I'm sure that they will. And thank you. I appreciate the follow up on that. Okay. That's enough working out.

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What was that?

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Uh, there's this laughing in the background.

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No, no, they're so excited.

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We, we have people who know the, that would like to speak in favor of this project. They think it's.

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Great, it's the best thing that could ever happen and, you know, the city of.

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Well, that's why we're here.

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Is to make everybody's dreams come true. Exactly.

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wendy's here, she just wants to get to the 16 minute mark because then she gets the.

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Another half hour billing or something like that.

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But Jack, you got to run it long. You gotta run it long.

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Yeah, I'm keeping around for 2002 and a half when I make her.

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So.

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Once we get this, how quickly can we then get? Um.

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Uh, this finalized and then.

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Tax certificates cause, um.

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The contractor would like to start work in the next couple of weeks. Sure.

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Um, as I told Wendy.

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Um, I need to wait for my audit to get done.

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And then I will, uh, because I need to get my board to approve it before the end of the month.

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So, instead of holding my meeting on March 2nd, that I'm going to hold it.

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Probably in the most likely, the 3rd, Wednesday of the month.

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There possibly, I think there's, I think there's actually 5.

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5, Wednesdays in March so, um.

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Uh, with that said, I, instead of on the 2nd, like I said, I'll probably put it out to the, maybe the 3rd or 4th, Wednesday.

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And, uh, but just when when they send out the, um, inducement package and the engagement letter.

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That that always seems to be a hold up for some.

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So, what about reason, but, um.

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Uh, if you, if you get that back to us, as soon as possible, then we'll, uh, she'll draft the sales tax exemption letter and then I can get that out to you right away. Okay. Perfect.

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Okay.

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Hello.

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Okay, uh, we've been here for 15 over 15 minutes.

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Oh, close the public hearing, uh.

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Seeing seeing no comments.

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Okay, uh, thank you all uh, Jim will be in touch in Wendy also.

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And, um, uh, I'll let them know, you know, we had no comments and then just to see while pushing the, uh.

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You know, the inducement agreement and, um, uh, the rest of it to, uh, you know, together and stuff. So.

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Okay, okay. Trying to get that stuff.