LEGAL NOTICE
LEGAL NOTICE
LEGAL NOTICE
LEGAL NOTICE
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.
Straight-lease (Small Industry Incentive Program)
transaction for a real estate holding company to be determined for the
benefit of 16 Tons, Inc., a compay primarily involved in the
manufacturing of point of purchase displays, in connection with the
acquisition of an approximately 16,000 square foot parcel of land located at
27-39 Knickerbocker Avenue, Brooklyn, New York, and for the renovation,
furnishing and equipping of an approximately 12,050 square foot building
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 a real estate holding company
to be determined for the benefit of Architectural Metals, Inc, a
fabricator of custom architectural metal work in connection with the
financing of the purchase of an approximately 12,000 square foot facility
located on approximately 12,500 square feet of land located at 163-169
Dwight Street, Brooklyn, 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 Bank of New
York and its affiliates in connection with the construction and
renovation of approximately 300,000 square feet of office space in an
approximately 425,000 square foot office building to be constructed on an
approximately 35,000 square foot parcel of land located on the block bounded
by Atlantic Avenue, Flatbush Avenue, the demapped segment of Fort Greene
Place and Hanson Place, Brooklyn, New York and for the acquisition and/or
leasing and installation of machinery, equipment furniture, fixtures and
other tangible personal property all for use at the above location, The
financial assistance proposed to be conferred by the Agency will consist of
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 Forest Panel and Lumber Home Centers
Inc, a warehouser and distributor of lumber, in connection with the
financing of the purchase of (i) an approximately 13,600 square foot
warehouse located on an approximately 13,600 square foot parcel of land
located at 252 Johnson Avenue, Brooklyn, New York, (ii) an approximately
2,500 square foot garage located on an approximately 2,500 square foot
parcel of land located at 256 Johnson Avenue, Brooklyn, New York, (iii) an
approximately 8,000 square foot warehouse located on an approximately 8,000
square foot parcel of land located at 266 Johnson Avenue, Brooklyn, New
York, (iv) an approximately 2,500 square foot commercial office facility
located on an approximately 1,250 square foot parcel of land located at 270
Johnson Avenue, Brooklyn, New York; (v) an approximately 7,000 square foot
warehouse located on an approximately 7,000 square foot parcel of land
located at 272 Johnson Avenue, Brooklyn, New York; (vi) an approximately
11,000 square foot building located on an approximately 11,000 square foot
parcel of land located at 274 Johnson Avenue, Brooklyn New York, (vii)
approximately 20,600 square feet of land located at 280 Johnson Avenue
Brooklyn, New York; (viii) approximately 23,800 square feet of land located
at Johnson Avenue, Brooklyn, New York, (ix) approximately 10,445 square feet
of land located at Bushwick Place, Brooklyn, New York- and (x) an
approximately 2,400 square foot building located on an approximately 2,400
square foot parcel of land located at 52 Bushwick Place, Brooklyn, 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
(Industrial Incentive Program) transaction for a real estate holding company
to be determined for the benefit of Great Wall Corp., a clothing
manufacturer, in connection with the financing and/or refinancing of the
construction, renovation, furnishing and equipping of an approximately
20,000 square foot building located on an approximately 20,000 square foot
parcel of land located at 47-21 to 47-39 36th Street, Long
Island City, 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 NASD, Inc., a
securities industry self-regulatory organization, and its affiliates,
in connection with the renovation of approximately 27,155 square feet of
office space located at One Liberty Plaza, New York, New York and the
acquisition and/or leasing and Installation of machinery, equipment,
furniture, fixtures and other tangible personal property all for use at the
above location. The financial assistance proposed to be conferred by the
Agency will consist of payments in lieu of City real property taxes and
exemption from City and State sales and use taxes.
Approximately $5,000,000
industrial development revenue bond transaction for a real estate holding
company to be determined for the benefit of National Compressor Exchange
of New York, Inc., a re-manufacturer and distributor of
compressors, motors, pumps, and generator re-winders in connection
with the acquisition, renovation and equipping of an approximately 42,592
square foot, 2 story building located on an approximately 62,678 square foot
parcel of land located at 75 Onderdonk Avenue, Flushing, Queens, New York,
Block 3393, Lot 179. 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.
Up to $15,000,000 civic
facility revenue bond transaction for the benefit of New York Institute
of Technology, a not-for-profit New York educational
corporation providing undergraduate, graduate and professional degrees in
more than 100 majors, in connection with the construction, renovation,
equipping and upgrading of a combined building of approximately 83,575
square feet on an approximately .26 acre lot located at 1855 Broadway arid
1849 Broadway, New York, New York and of a portion of a combined building of
approximately 45,000 square feet located on an approximately 10,000 square
foot lot located at 21 West 61st Street and 16 West 61st Street, 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 tax.
Approximately $16,000,000
civic facility revenue bond transaction for the benefit of Convent of the
Sacred Heart of New York, a not-for-profit independent
school providing education to primary and secondary aged girls from
pre-kindergarten through grade twelve, in connection with the
construction of a tower connecting two existing buildings, renovation,
equipping and upgrading of two buildings, an approximately 14,603 square
foot parcel of land and an approximately 56,000 square foot building thereon
located at One East 91 st Street, New York, New York and an approximately
7,016 square foot parcel of land and an approximately 25,600 square foot
building thereon located at Seven East 91st Street 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
(commercial retention) transaction for the benefit of JetBlue Airways
Corporation and its affiliates, a passenger airline, in connection with
the renovation of approximately 74,000 square feet of office space located
at 118-29 Queens Boulevard, Queens, New York and for the acquisition
and/or leasing and installation of machinery, equipment, furniture, fixtures
and other tangible personal property all for use at the above location. 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 the American
Society for Technion - Israel Institute of Technology, Inc, a
non-profit corporation whose purpose is to promote, encourage, aid and
advance technological, scientific and industrial higher and secondary
education, research and training both in Israel and the United States, in
connection with the acquisition, renovation, furnishing, equipping and/or
refinancing of an approximately 22,860 square foot condominium unit
consisting of the 13th and 14th floors located at 55 East 59th Street, 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
(Industrial Incentive Program) transaction for a real estate holding company
to be determined for the benefit of Twin Marquis, Inc, a manufacturer
of noodle and oriental appetizers, in connection with the acquisition and
equipping of an approximately 75,000 square foot four story building on an
approximately 22,000 square foot parcel of land located at 1/7 Bushwick
Place, Brooklyn, New York, Block 3056, Lot 74. 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.
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, August
12, 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 financings and transactions should give prior notice
to the Agency at the address or phone number shown below. Written comments
maybe submitted to the Agency at the address shown below.
New York City Industrial Development Agency
110
William Street,6th Floor New
York, New York 10038
(212)
619-5000