WEBVTT 1 00:00:01.469 --> 00:00:12.028 Okay, my name is Jack space with the urban industrial development agency. We're holding the public hearing on behalf of burst, own road associates. 2 00:00:12.028 --> 00:00:22.109 1st known road associates LLC on behalf of itself and, or the principles of VersionOne road associates, LLC, or an entity. 3 00:00:22.109 --> 00:00:33.000 And or an entity formed, or to be formed on behalf of any other forgoing previously applied to the agency to enter into a transaction in which the agency assists in 1. 4 00:00:33.000 --> 00:00:40.289 Acquisition of a 12 plus or minus acre parcel of land located at 117 business part drive. 5 00:00:40.289 --> 00:00:44.460 City of on the accounting New York. 6 00:00:44.460 --> 00:00:47.549 And the existing 82,000 square foot. 7 00:00:47.549 --> 00:00:51.509 Plus or minus 2 story, building square foot plus, or. 8 00:00:51.509 --> 00:00:58.229 82,000 plus or minus square foot 2 story building situated there on. 9 00:00:58.229 --> 00:01:07.920 2 partial demolition and renovation of the existing improvements in 3, the acquisition and installation of machinery and equipment and the improvements. 10 00:01:07.920 --> 00:01:17.099 All for the purpose of providing a multi specialty health care facility, which enhances existing health care services. 11 00:01:17.099 --> 00:01:20.340 And provides new services that are not otherwise. 12 00:01:20.340 --> 00:01:29.340 Available in the region facility will be initially least operated and or managed by the company. 13 00:01:29.340 --> 00:01:33.569 The company owns the facility and leases the facility back to the agency. 14 00:01:33.569 --> 00:01:36.599 And the agency. 15 00:01:36.599 --> 00:01:39.989 Back to the company for the term of approximately 10 years. 16 00:01:39.989 --> 00:01:45.450 The company sub leases the facility to select them Dixon medical group. P LLC. 17 00:01:45.450 --> 00:01:53.489 The, at the end of the lease term, the agency will terminate its lease hold interest in the facility. 18 00:01:53.489 --> 00:01:59.280 The agency provides financial assistance to the company in the form of exemptions from sales and use taxes. 19 00:01:59.280 --> 00:02:11.819 Exemptions from mortgage recording taxes and reduction of real property taxes for a period of 10 years, which proposed financial assistance as a deviation from the agency's uniform tax exemption policy. 20 00:02:11.819 --> 00:02:21.150 Or particularly describing in a described in a final authorizing resolution, which was adopted by the agency prior to closing. 21 00:02:21.150 --> 00:02:30.060 The agency now contemplates that it will provide additional financial assistance to the company in the form of increased exemptions from sales and use taxes. 22 00:04:36.714 --> 00:06:31.495 Hello. 23 00:08:17.399 --> 00:09:25.078 Hello. 24 00:15:01.469 --> 00:15:05.428 All right, being that there are no comments. I'm going to close the public hearing. 25 00:15:05.428 --> 00:15:09.719 rick are you there yes i am 26 00:15:09.719 --> 00:15:13.649 Okay, you have a good day and I'll be talking to you soon. 27 00:15:13.649 --> 00:15:16.678 I appreciate everybody's help. Thank you very much. 28 00:15:16.678 --> 00:15:21.131 You're welcome, I'll talk to you some thanks. Bye. Bye. Bye. Bye.