Published in the New York
Post March 9, 2002, p 38
New
York City Industrial Development Agency NOTICE OF PUBLIC HEARING
The New York City Industrial Development Agency (the
“Agency”) is empowered under the New York State Industrial Development
Agency Act (constituting Title 1 of Article 18-A of the General Municipal
Law), and Chapter 1082 of the 1974 Laws of New York, as amended, to issue
nonrecourse revenue bonds to provide financing for qualified projects, and
to enter into industrial and small industry incentive program transactions
and other straight-lease transactions for the benefit of qualified projects,
and thereby advance the job opportunities, general prosperity and economic
welfare of the people of the State of New York (the “State”) and to
improve their prosperity and standard of living. The Agency has been
requested (i) to make available the proceeds of its bonds to be issued in
the approximate aggregate dollar amounts, to be used by the persons, for the
purposes, and at the addresses identified below, and (ii) to participate in
industrial and small industry incentive program straight-lease transactions
and other straight-lease transactions for the purposes and at the addresses
also identified below. As used herein, "bonds” are bonds, the
interest on which may be exempt from local and/or State and/or Federal
income taxes; and the “City" shall mean The City of New York. As used
herein with reference to bond amounts, "approximately" shall be
deemed to mean up to such stated bond amount or a greater principal amount
not to exceed 10% of such stated bond amount.
Approximately $1,700,000 industrial development
revenue bond transaction for a real estate holding company to be determined
for the benefit of Ahava Food Corporation, a manufacturer of kosher dairy
products, in connection with the renovation and equipping of an
approximately 63,000 square foot building situated on an approximately
86,000 square foot parcel of land located at 236-280 Richards Street,
Brooklyn, New York. The financial assistance proposed to be conferred by the
Agency will consist of such bond financing, if applicable, payments in lieu
of City real property taxes, exemption from City and State mortgage
recording taxes, and exemption from City and State sales and use taxes.
Approximately $6,000,000 civic facility revenue bond
transaction for the benefit of American Council of Learned Societies, a
not-for-profit organization that supports humanistic studies, in
connection with the purchase, renovation, furnishing and equipping of an
approximately 10,300 square foot commercial condominium unit located at 633
3rd Avenue, 8th Floor, Unit 8C New York, New York. The financial assistance
proposed to be conferred by the Agency will consist of such bond financing
and exemption from City and State mortgage recording taxes.
Straight-lease (Small Industry Incentive
Program) transaction for a real estate holding company to be determined for
the benefit of Citywide Mobile Response Corporation, a company primarily
involve in providing ambulance and ambulette transportation, in connection
with the acquisition of an approximately 58,000 square foot parcel of land
located at 1624 Stillwell Avenue, Bronx, New York and for the renovation,
furnishing and equipping of an approximately 19,500 square foot facility
located thereon. The financial assistance proposed to be conferred by the
Agency will consist of payments in lieu of City real property taxes,
exemption from City and State mortgage recording taxes, and exemption from
City and State sales and use taxes.
Straight-lease (Industrial Incentive Program)
transaction for the benefit of F & T Service Co. LLC a fabricator of
heating and air conditioning units, in connection with the acquisition,
renovation, and equipping of an approximately 8,800 square foot building
situated on an approximately 15,500 square foot parcel of land located at
312 South Avenue, Staten Island, New York, Block 1268, Lots 234 and 237. The
financial assistance proposed to be conferred by the Agency will consist of
payments in lieu of City real property taxes, exemption from City and State
mortgage recording taxes, and exemption from City and State sales and use
taxes.
Approximately $2,140,000 industrial development
revenue bond refunding transaction for a real estate holding com )any to be
determined for the benefit of House of Spices (India), Inc., a manufacturer
and distributor of India" food and spices, in connection with the
refunding of a previous 1991 Agency bond transaction issued to finance the
acquisition, renovation and equipping of an approximately 109,200 square
foot building located on an approximately 173,389 square foot parcel of land
located at 127-40 Willets Point Boulevard, Flushing, Queens, New York.
The financial assistance proposed to be conferred by the Agency will consist
of such bond financing, payments in lieu of City real property taxes,
exemption from City and State mortgage recording taxes, and exemption from
City and State sales and use taxes.
Straight lease (Industrial Incentive Program)
transaction for a real estate holding company to be determined for the
benefit of House of Spices (India), Inc., a manufacturer and distributor of
Indian food and spices in connection with (a) the refinancing of an existing
Mort on an approximately 109,200 square foot building located on an
approximately 173,389 square foot parcel of land located at 127-40
Willets Point Boulevard, Flushing, Queens, New York, and IN the financing of
the acquisition and construction of an approximately 4,000 square foot
facility which will house an approximately 2,500 square foot refrigeration
unit at 127-40 Willets Point Boulevard, Flushing, Queens, New York.
The financial assistance proposed to be conferred by the Agency will consist
of payments in lieu of City real property taxes, exemption from City and
State mortgage recording taxes, and exemption from City and State sales and
use taxes.
Straight-lease (commercial retention)
transaction for the benefit of The New York Times Company and its affiliates
for the acquisition and/or leasing and installation of machinery, equipment
furniture, fixtures and other tangible personal property situated in
approximately 45,000 square feet of o ice space located at 609 Greenwich
Street, New York, New York. The financial assistance proposed to be
conferred by the Agency will consist of exemption from City and State sales
and use taxes.
Approximately $15,000,000 civic facility revenue bond
transaction for the benefit of Planned Parenthood Federation of America,
Inc., a not-for-profit 501 (c)(3) tax-exempt organization
that provides services to, and coordinates the activities nationally of, its
member affiliates in the areas of reproductive and complementary health care
and education services and promotion of research and advancement of
technology in reproductive health care. The proceeds of the bonds will be
used to finance or refinance the renovation, equipping and furnishing of
leasehold improvements constituting approximately 104,000 square feet of
space in an approximately 192,000 square foot building located upon an
approximately 13,045 square foot parcel of land located at 424-438
West 33rd Street, New York, New York, Block 729, Lot 163, to be used in
whole, or in part, by Planned Parenthood Federation of America, Inc.,
Planned Parenthood Action Fund, Inc., The Planned Parenthood Foundation,
Inc., and Affiliates Risk Management Services, Inc., and which may be used
in part by The Alan Guttmacher Institute and/or Sex Information and
Education Council of the United States, and which is to be managed in part
by 424 West 33rd Street Associates, L.P. The financial assistance proposed
to be conferred by the Agency will consist of such bond financing and
exemption fro. City and State mortgage recording taxes.
Approximately $15,500,000 civic facility revenue bond
transaction for the benefit of PSCH Inc. and Astrocare Inc., a wholly owned
subsidiary of PSCH Inc., and other entities affiliated therewith, which
provide services for persons with developmental disabilities, individuals
with mental illness and support services for their families, all in
connection with the following projects (and the approximate dollar amounts
listed); (1) $2,750,000 for the acquisition, construction, furnishing, and
equipping of an approximately 8,200 square foot Article 28 diagnostic and
treatment center located at 1669 Bedford Avenue, Brooklyn, New York; (2)
$5,000,000 for the renovation, furnishing and equipping of the headquarters
building located at 22-44 119th Street College Point, Queens, New York
and the refinancing of the outstanding portion of approximately $960,000 in
existing debt used to acquire and expand such headquarters building; (3)
$850,000 for the acquisition, renovation, equipping and furnishing of a new
approximately 7,000 square foot group home located at Country Point,
Hillside and Winchester Boulevards, Unit #4 Queens Village, Queens, New
York; (4) $150,000 to finance capital expenditures (already expended)
related to the acquisition, renovation, equipping and furnishing of a new
approximately 6,000 square foot group home located at 143-50 Beech
Avenue, Flushing, Queens, New York; (5) $1,908,000 for the purchase of
capital equipment and other capital expenditures for facilities owned and
operated by PSCH Inc., comprising $1,250,000 for its headquarters building
located at 22-44 119th Street, College Point, Queens, New York,
$313,000 for the Article 16 Habilitation Clinic at 25-34 Steinway
Street, Astoria, Queens, New York; $175,000 for the garage located at
53-44 97th Place, Corona, Queens, New York; $75,000 for the
23-15 37th Avenue, Long Island City, Queens, New York 37th Avenue day
habilitation facility; $25,000 for a facility at 56-30 204th Street, Bayside
Queens, New York; $70,000 for a group home at 143-50 Bee Avenue, Flushing,
Queens, New York; and (6) $1,911,204 for the refinancing of the Outstanding
portion of existing debt used to acquire, renovate and equip the following
facilities- $389,583 for an Article 16 habilitation clinic at 25-34 Steinway
Street, Astoria, Queens, New York; $303,875 for a day habilitation facility
at 23-15 37th Avenue, Long Island City, Queens, New York; $252,000 for a
garage located at 53-44 97th Place, Corona, Queens, New York; $471,351 for a
group home located at 143-50 Beech Avenue, Flushing, Queens, New York;
$504,818 for a group home located at 56-30 204t Street, Bayside Queens, New
York, The financial assistance proposed to be conferred by the Agency will
consist of such bond financing and exemption from City and State mortgage
recording taxes.
Approximately $5,000,000 industrial development
revenue bond transaction for F & T Realty Corporation, a real estate
holding company, for the benefit of Surprise Plastics, Inc., a manufacturer
of point-of-purchase display items, in connection with the construction,
furnishing and equipping of an approximately 28,500 square foot building
addition located on an approximately 28,500 square foot parcel of land
located at 114-110 57th Street, Brooklyn, New York, Block 844, Lots 10,12,
and 13 to the company's existing approximately 22,000 square foot building
located at 124 57th Street, Brooklyn, New York. The financial assistance
proposed to be conferred by the Agency will consist of such bond financing,
payments in lieu of City real property taxes, exemption from City and State
mortgage recording taxes, and exemption from City and State sales and use
taxes.
Pursuant to Section 859a of the General Municipal Law
of the State of New York and Internal Revenue Code Section 147(f) the Agency
will hold a hearing on the proposed financings and transactions set forth
above at the office of the New York City Industrial Development Agency, 110
William Street, 6th Floor, New York, New York commencing at 10:00 A.M. on
Monday, April 8, 2002. Interested
members of the public are invited to attend. The Agency will present
information at such hearing on the proposed financings and transactions set
forth above. Pursuant to subdivision 3 of the above-referenced Section 859a
the Agency will, in addition, provide an opportunity for the public to
review at such hearing the project application and the cost-benefit analysis
for each of the proposed financings and transactions. Persons desiring to
make a brief statement regarding the proposed financing and transactions
should give prior notice to the Agency at the address or phone numb own
below. Written comments may be submitted to the Agency at the address shown
below.
New
York City Industrial Development Agency
110
William Street, 6th Floor
New
York, Now York 10038
(212)
619-5000