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 $6,000,000 industrial development revenue bond transaction for a real estate holding company to be determined for the benefit of Abigal Press, Inc., a printer and engraver, in connection with the acquisition, renovation, furnishing and equipping of an approximately 80,000 square foot building located on an approximately 12,000 square foot parcel of land located at 92 Third 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.
Approximately $2,000,000 civic facility
revenue bond transaction for the benefit of C.C.M.S., Inc. (a/k/a
Community Counseling and Mediation Services, Inc.), a not-for-profit
social service organization, in connection with the refinancing,
reimbursement, and/or financing of the acquisition, renovation, furnishing
and equipping of an approximately 6,500 square foot
building on approximately 5,200 square feet of land located at 810
Classon 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.
Straight-lease (Industrial Incentive Program) transaction for a to be determined operating affiliate of Designer Greetings, Inc., a printer and distributor of greeting cards, in connection with the purchase and renovation of an approximately 44,000 square foot 2-story building on approximately 35,000 square feet of land located at 3075 Richmond Terrace, Staten Island, 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 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.
Straight-lease (Industrial Incentive Program) transaction
on behalf of a real estate holding company to be determined for the benefit
of Showman Fabricators, a manufacturer of scenery for theater,
television, and exhibits, in connection with the financing and/or
refinancing of the acquisition, renovation, furnishing and equipping of an
approximately 77,000 square foot building located on an approximately 45,300
square foot parcel of land located at 47-22 Pearson Place, 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.
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.
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, July 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 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, New York 10038
(212) 619-5000