IDA Public Hearing Notice for March 11, 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 $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 New York City real property
taxes, exemption from City and State mortgage recording taxes, and exemption
from City and State sales and use taxes.
Approximately $3,300,000 civic facility revenue bond transaction for the
benefit of The Bohen Foundation, a foundation organized to support and
promote the creation of works of art In various media, in connection with
the acquisition, renovation, furnishing, equipping and/or refinancing of an
approximately 15,000 square foot condominium unit to be created, situated on
an approximately 10,325 square foot parcel of land located at 411‑417
West 13th 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
(Small Industry Incentive Program) transaction for the benefit of a real
estate holding company to be determined for the benefit of Donald Wainland's
Inc. a company primarily Involved In the manufacturing of metal products for
furniture. light fixtures, cabinets and grills for
HVAC systems, in connection with the acquisition of an approximately
20,000 square foot parcel of land located at 24‑60 47th Street
Astoria, Queens, New York and for the renovation, furnishing and equipping
of an approximately 24,000 square foot facility located thereon. 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 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 New York 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
Glass‑Form Production, Inc., a wholesale distributor of imported
furniture, in connection with the purchase of an approximately 44,000 square
foot building situated on an approximately 20,000 square foot parcel of
land, located at 310 Tiffany Street a/k/a 301 Casanova Street), Bronx, New
York, Block 2774, Lot 152. 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 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 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
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, 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 of land located at 127‑40 Willets Point
Boulevard, Flushing, Queens, New York and (b) the financing of the
acquisition and construction of an approximately 4,000 square foot facility
which will house an approximately Z500 square foot refrigeration unit at
127‑40 Willem Point Boulevard, Flushing, Queens, 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 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 Key Cast
Stone Cc, Inc, a manufacturer of concrete products, in connection with the
purchase of an approximately 43,800 square foot building on an approximately
35,400 square foot parcel of land, located at 35‑01 Vernon Boulevard,
Long Island City, Queens, New York, Block 328, Lots 23 & 33. 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 City
and State mortgage recording taxes and exemption from City 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,
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 (approximate cost of
$236,000)); (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
(approximate cost of $337,750) (iii) an approximately 6,000 square foot
building and an approximately 1,600 square foot parcel of land located at
117 Ralph Avenue, Brooklyn, New York (approximate cost of $242,000 (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 (approximate
cost of $275,000); (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 (approximate cost of $66,000) and (vi) an
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 (approximate cost of
$2,750,000). 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 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 r 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) $1 50,000 to recoup capital
expenditures related to the acquisition, renovation, equipping and
furnishing of a new approximately 6,000 square foot group home located at
153‑50 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 in 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 located at
25‑34 Steinway Street Astoria, Queens, New York $175,000 for the
garage located at 53‑44 97th Place, Corona, Queens, New York for a day
habilitation facility located at 23‑15 37th Avenue, Long Island City,
Queens, New York, $25,000 for a facility at 56‑30 204th Street In
Bayside, New York $70,000 for a group home located at 143‑50 Beech
Avenue In Flushing, Queens, New York; (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
located at 25‑34 Steinway Street, Astoria, Queens, New York; $303,875
for a day habilitation facility located 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 204th
Street, Bayside Queens, New York. The financial assistance proposed to be
conferred Agency will consist of such bond financing and exemption from City
and State mortgage recording taxes.
Approximately
$4,500,000 industrial development revenue bond transaction for a real estate
holding company to be determined for the benefit of Rosco, Inc. a
manufacturer of transit bus coach, truck van, construction equipment and
school bus mirrors and sun visors, in connection with construction of an
approximately 49,000 square foot addition to its existing plant and
improvements to existing buildings totaling approximately 35,000 square
feet, located at 144‑3191st
Street Jamaica, 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, exemption from City and State
mortgage recording taxes an exemption from City and State sales and use
taxes.
Approximately
$750,000 civic facility revenue bond transaction for the benefit of Working
Organization for Retarded Children and Adults, Inc, a provider of
habilitation services for people with developmental disabilities, in
connection with the acquisition, renovation, furnishing, equipping, and/or
refinancing of an approximately 3,600 square foot parcel of land and an
approximately 1,562 square foot building located at 108‑12 227th
Street 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.
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, March 11, 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