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 (Industrial Incentive Program) transaction for Martin Prince or a real estate holding company to be determined for the benefit of DLX Industries, Inc., a manufacturer and printer of vinyl products, in connection with the acquisition, renovation, and equipping of an approximately 70,000 square foot building on an approximately 80,000 square foot parcel of land, located at 1970 Industrial Park Road, Brooklyn, New York, a/k/a 193 Hinsdale Street, Brooklyn, New York, a/k/a 1970 Pitkin Ave, 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 Bloomfield Management Corp., a real estate holding company for the benefit of S. DiFazio and Sons Construction, Inc., an infrastructure and underground utility contractor; Faztec Industries, Inc., a sand and gravel distributor and infrastructure contractor; and DiFazio Industries Inc., a recently formed entity that in the future will commence operating as an infrastructure and underground utility contractor, in connection with: (i) the improvement, renovation and equipping of an approximately 3,500 square foot existing building on an approximately 164,700 square foot parcel of land (“Parcel One”) located at 200 Bloomfield Avenue (a/k/a 220 Bloomfield Avenue), Staten Island, New York, Block 1780, Lot 151; (ii) the acquisition, improvement and equipping of an approximately 52,272 square foot parcel of land (“Parcel Two”) contiguous to Parcel One, located at Bloomfield Avenue, Staten Island, New York, Block 1780, Lot 150, for use as equipment and materials storage and parking; and (iii) the acquisition, improvement, renovation and equipping of an approximately 9,000 square foot existing building on an approximately 9,977 square foot parcel of land (“Parcel Three”) located at 20 Kinsey Place, Staten Island, New York, Block 1290, Lot 92, for use as a maintenance facility; including (iv) the acquisition, improvement and equipping of an approximately 7,281 square foot parcel of land (“Parcel Four”) contiguous to Parcel Three, located at Kinsey Place, Staten Island, New York, Block 1290, Lot 94. 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.
[POSTPONED] Straight-lease (commercial retention) transaction for the benefit of Independence Community Bank Corp. and its affiliates for the renovation of office space and for the acquisition and/or leasing and installation of machinery, equipment, furniture, fixtures and other tangible personal property located on approximately 177,073 square feet located within 12 MetroTech Center (a/k/a 330 Jay Street) Brooklyn, New York (Floors 26 through 30). 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 the benefit of Karp Associates, Inc., a manufacturer and distributor of access doors and shelving products, in connection with the construction and equipping of an approximately 12,000 square foot addition on an approximately 12,136 square foot parcel of land, located at 54-56 43rd Street, Maspeth, Queens, New York, to an existing approximately 32,000 square foot building on an approximately 20,000 square foot parcel of land, located at 54-54 43rd Street (said addition to be located on Block 2517, Lots 28, 29, 30, 31, 32 and 34. 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, Sunlight Clinton Realty LLC, for the benefit of Lighting & Supplies, Inc. (d/b/a Sunshine Lighting), and one or more of its tenants, a manufacturer, assembler and distributor of lighting supplies, in connection with the acquisition of an approximately 110,00 square foot parcel of land located at 744 Clinton Street, Brooklyn, New York, Block 623, Lots 100 & 118 and in connection with the renovation, furnishing and equipping of an approximately 100,000 square foot facility located thereon, and the construction of an approximately 10,000 square foot office facility to be 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 Marjam Supply Company, Inc., the largest building supply company in the tri-state area, in connection with the acquisition, renovation and equipping of an approximately 50,000 square foot building on an approximately 84,328 square foot parcel of land, located at 8 Rewe Street, Brooklyn, New York (said building located on Block 2927, Lot 100). 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 Pfizer, Inc. and its eligible affiliates, in connection with the renovation of approximately 127,000 square feet of office space on Floors 4, 5 and 6 of 605 Third Avenue, New York, 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 additional location. The financial assistance proposed to be conferred by the Agency will consist of exemption from City and State sales and use taxes. The financial assistance for this project was induced and authorized on May 13, 2003 and June 10, 2003 respectively. No additional financial assistance is being provided.
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 Economic Development Corporation (“NYCEDC”) 110 William Street, 6th Floor, New York, New York commencing at 10:00 A.M. on Thursday, December 9, 2004. 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. For those members of the public desiring to review project applications and cost benefit analyses before the date of the hearing, copies of these materials will be made available, starting on or about noon on the Friday preceding the hearing. Persons desiring to obtain copies should call (212) 312-3543. 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 may be submitted to the Agency to the attention of Mr. David Shelley at the address shown below. Please be advised that certain of the aforementioned proposed financings and transactions may possibly be removed from the hearing agenda prior to the hearing date. Information regarding such removals will be posted on NYCEDC’s web site, www.nycedc.com on or about noon on the Friday preceding the hearing.
New York City Industrial Development Agency
110 William Street, 6th Floor
New York, New York 10038
(212) 312-3543