IDA Public Hearing Notice for January 7, 2002
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 I 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 $8,000,000 chic facility revenue bond
transaction for the benefit of All Stars Project Inc. a provider of
theatrical an educational services for New York City youth, In connection
with the acquisition, renovation, furnishing and equipping of approximately
33,000 square feet of ground and basement floor space at 529 West 42nd
Street, Block 1071, Lot 10, 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 Aon Corporation, an
insurance and risk management company, and its eligible affiliates. In
connection with the acquisition and/or leasing and installation of machinery
equipment, furniture, fixtures and other tangible personal property
all for use in office space at the following
Straight-lease
(commercial retention) transaction for the benefit of CIBC Delaware
Holdings, Inc. a financial services firm, and its affiliates, in connection
with the addition of an aggregate of approximately 317,000 square feet of
office space located at: 1) approximately 131,000 square feet locate at 622
Third Avenue, 8th, 9th, I 11th and 35th Floors and part of I 10th Floor, New
York, New York: 2) approximately 131,000 square feet located at 417 Fifth
Avenue, Mezzanine, 2nd, 4th and 11th Floors and part of 10th
Floor, New York, New York; and 3) approximately 55,000
Approximately $2,140,000 industrial development revenue
bond refunding 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 the refunding
of a previous 1991 Industrial Development 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 New York
City real property taxes, and 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
mortgage on an approximately 109,200 square foot building located on an
approximately 173,389 square foot parcel land located at 127‑40
Willits Point Boulevard, Flushing, Queens, New York and; (b) the financing
of the approximately 2.5. 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 payments in lieu of New York City
real property taxes, exemption from City and
Approximately
$6,000,000 civic facility revenue bond transaction for the benefit of Mercy
College, a not‑for‑profit institution of higher education, in
connection with the refinancing, reimbursement and/or financing of the
acquisition, renovation, furnishing and equipping of approximately 55,000
square feet on Floors 6 and 7 and the 35th Street lobby of 1328 Broadway
(a.k.a. 2 Herald Square), New York, New York. The financial assistance
proposed to be 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 The Metropolitan Life Corporation and its eligible affiliates
for the acquisition and/or leasing and installation of machinery, equipment.
furniture, fixtures and other tangible personal property, all for use at a
to-be-constructed approximately 438,000 square foot facility located on
approximately 85,052 square feet of land at 41‑21 27th Street, 41-27
27th Street, and 27‑01 Queens Plan North, Long Island City, Queens,
New York; approximately 54,890 square feet located on the 3rd floor at 75-20
Astoria Boulevard, Jackson Heights, Queens, New York; and approximately
13,650 square feet located on the 5th floor at 48 Wall Street New York New
York. The financial assistance proposed to be conferred by the Agency will
consist of payments in lieu of New York City real Property taxes, exemption
from mortgage recording taxes and exemption and State sales and use taxes.
Approximately $4,000,000 civic facility revenue bond
transaction for the benefit of Miracle Makers Inc., a provider of human
services, in connection with the refinancing reimbursement and/or financing
of the acquisition, renovation, and furnishing and equipping of facilities
at the following addresses, with accompanying square footages: (i) an
approximately 16,200 square foot building and an approximately 3,200 square
foot parcel of land located at 16 Howard Avenue, Brooklyn, New York
(refinancing); (ii) an approximately 36,000 square foot building and an
approximately 7,200 square foot parcel of land located at 1021 Broadway,
Brooklyn, New York (refinancing); (iii) an approximately 6,000 square foot
building and an approximately 1,600 parcel of land at 117 Ralph Avenue,
Brooklyn, New York (refinancing); (iv) an approximately 1,040 square foot
building and an approximately 2,375 square foot parcel of land located at 95
Sexton Place, Bronx New York, (v) an approximately 2,000 square foot
building and an approximately
2,000 square foot parcel of land located at 2004 Fulton Avenue, Brooklyn,
New York and; (vi) and
approximately 66,000 square foot facility and an approximately 45,000 square
foot parcel of land located at 2644‑2668 Atlantic Avenue (a/k/a 91
Pennsylvania Avenue). Brooklyn, 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 $21,000,000 civic facility revenue bond
transaction for the benefit of the Packer Collegiate Institute, an
educational institution serving pre‑kindergarten through 12th grade
students, in connection with refinancing, reimbursement, and/or financing of
the renovation, furnishing and equipping of an approximately 179,715 foot
facility located on an approximately 15,275 square foot parcel of land
located at 117 Clinton Street, Block 265 Lot 17, Brooklyn, 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 $18,000,000 civic facility revenue bond
transaction for the benefit of the Staten Island University Hospital, a
not‑for‑profit healthcare institution in connection with the
refinancing and financing of the renovation and/or new construction,
furnishing and equipping of an approximately 17,100 square foot area within
a newly constructed approximately 92,000 square foot six‑story tower
to house an image guided surgery center, the replacement and relocation of
angiography services and the acquisition of other equipment in
connection with the image guided surgery center at the Hospital campus
located at 475 Seaview Avenue, Staten Island, New York. The financial
assistance proposed to be considered by the Agency will consist of such bond
financing and exemption from City and State mortgage recording 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, I 10 William Street, 6th Floor, New York, New York,
commencing at 10:00 a.m. on Monday, January 7, 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 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