Accessibility questions: NYCEDC’s Equal Access Officer at 212-312-3602 or at EqualAccess@edc.nyc, by Thursday, July 23, 2020 10:00 AM
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 enter into 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 to participate in straight-lease transactions and to issue bonds for the purposes and at the addresses also identified below. As used herein, the “City” shall mean The City of New York. All dollar amounts (including bond issuance amounts), square footage amounts and wage information shown below are approximate numbers. As used herein, “bonds” are the bonds of the Agency, the interest on which may be exempt from local and/or state and/or federal income taxes; and, with reference to the bond amounts provided herein below, “approximate” 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.
Company Name(s): Borden Sum, LLC, a Delaware limited liability company, 132 Middle Street, LLC, a New Hampshire limited liability company and 134 Middle Street, LLC, a New Hampshire limited liability company, as tenants in common and AE-ESS NWS 1, LLC, a Delaware limited liability company (collectively, the “Company”). AE-ESS NWS 1, LLC is a subsidiary of Agilitas Energy, LLC, a Delaware limited liability company (“Agilitas”). Agilitas is a developer, owner and operator of solar power and battery energy storage power projects in the Northeast United States. Project Description: The Company seeks financial assistance in connection with the acquisition, demolition, construction, and equipping of an approximately 20,600 kilo-watt hours battery storage system, located on an approximately 9,700 square foot parcel of land at 11-24 Borden Avenue, Long Island City and the demolition of the existing approximately 7,000 square foot building located thereon (the “Facility”). The Facility will be owned by Borden Sum, LLC, 132 Middle Street, LLC and 134 Middle Street, LLC, as tenants in common and leased to and operated by AE-ESS NWS 1, LLC and will serve as a large-scale battery storage system capable of charging from, and discharging into, the New York power grid. For the first ten years of operation, the project will operate under a fixed price contract with Consolidated Edison Company of New York and in the New York Independent System Operator’s (NYISO) wholesale energy, capacity and ancillary services markets. Address: 11-24 Borden Avenue, Long Island City, New York 11101. Type of Benefits: Payments in lieu of City real property taxes, partial exemption from City and State mortgage recording taxes, and exemption from City and State sales and use taxes. Total Project Cost: $15,130,315. Projected Jobs: 1.5 full-time equivalent jobs retained. Hourly Wage Average and Range: $47.00/hour, estimated range of $47.00/hour to $47.00/hour.
Company Name(s): Gaeta Green Environmental Services and Gaeta Interior Demolition Inc. (collectively, “Gaeta”), affiliated New York corporations that provide demolition and waste-management services, and their affiliated real estate holding companies, Van Street Realty, Inc. (“Van Street”), a New York corporation, and an additional to-be-formed real estate holding company (“TBF”), and SFC Industries, Inc., dba J&J Recycling (“J&J”), a subsidiary of Gaeta, a New York corporation that provides scrap metal recovery and recycling services, and its affiliated real estate holding company, MBDB, LLC (“MBDB”), a New York limited liability company (collectively, together with Gaeta, the “Company”). Project Description: The Company seeks financial assistance in connection with the acquisition, construction, renovation, equipping, and/or furnishing of (a) an existing approximately 23,000 square foot building located on an approximately 88,000 square foot parcel of land located at 17-25 Van Street, Staten Island, New York 10310, which will be owned by Van Street and operated by Gaeta as a waste management transfer station with the project to consist generally of the construction of a concrete accessory yard of approximately 28,000 square feet, the completion of a new building involving an approximately 15,000 square foot concrete slab and related sprinkler system, quick release doors and fire alarm, the acquisition and installation of waste processing equipment, and the construction of an approximately 30,000 square foot building extension over the existing yard; (b) a vacant, approximately 99,000 square foot parcel of land located at 1641 Richmond Terrace, Staten Island, New York 10310, which will be owned by MBDB and operated by J&J as a scrap metal recycling center with the project to consist of the construction of a concrete accessory yard with a reinforced concrete slab of approximately 30,000 square feet, the installation of a storm water mitigation system and the construction of an approximately 15,000 to 20,000 square foot building for the sorting and processing of metals, glass and plastics; and (c) a vacant, approximately 72,000 square foot parcel of land located at 11 Ferry Street, Staten Island, New York 10302, which will be owned by TBF and operated by a to-be-formed operating company that will operate the site as a waste management transfer station facility with the project to consist of an upgrade and expansion of the marine bulkhead, the demolition of multiple existing structures and the construction of an approximately 40,000 square foot building over the existing yard. Addresses: 17-25 Van Street, Staten Island, New York 10310, 1641 Richmond Terrace, Staten Island, New York 10310 and 11 Ferry Street, Staten Island, New York 10302. Type of Benefits: Payments in lieu of City real property taxes, a partial exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes. Total Development Cost: $38,000,000. Projected Jobs: 20.5 full time equivalent jobs currently, 20.5 additional full time equivalent jobs projected within the next three years. Hourly Wage Average and Range: $23/hour, estimated range of $17/hour to $30/hour.
Company Name(s): JELB Webster Senior Retail, LLC, a New York limited liability company (the “Company”). Project Description: The Company is a subsidiary of Douglaston Development, a real estate development company, and seeks financial assistance in connection with the construction, development, furnishing and equipping of a 12,787 square foot retail condominium unit (the “Facility”) within an approximately 127,190 square foot residential building located on a 15,612 square foot parcel of land at 2856 Webster Avenue, Bronx, New York. The Facility is subject to a ground lease of which Company will be the lessee. The Facility will be used as a full-service supermarket to be operated by an entity unaffiliated with the Company with the trade name of Cherry Valley Marketplace. Address: 2856 Webster Avenue, Bronx, New York 10458. Type of Benefits: Payments in lieu of City real property taxes, a partial exemption from City and State mortgage recording taxes, and exemption from City and State sales and use taxes. Total Supermarket Construction Cost: Approximately $3,794,380. Projected Jobs: 19 full time equivalent jobs to be retained, 23.5 full time equivalent jobs projected. Hourly Wage Average and Range: $16.11/hour, estimated range of $15.00/hour to $28.00/hour.
For any updates to project information after the date of this notice, please visit the website of New York City Economic Development Corporation (“NYCEDC”) at www.nycedc.com/nycida-project-info.
The Agency is committed to ensuring meaningful access to its programs. If you require any accommodation for language access, including sign language, please contact NYCEDC’s Equal Access Officer at 212-312-3602 or at EqualAccess@edc.nyc.
Pursuant to Section 859a of the General Municipal Law of the State of New York and Executive Order 202.1 (2020), issued by the Governor of the State of New York, the Agency will hold a hearing remotely by conference call on the proposed financings and transactions set forth above, commencing at 10:00 A.M. on Thursday, July 23RD, 2020. Interested members of the public are invited to participate in the conference call for the public hearing by dialing (877) 853-5247 (Toll Free) or (888) 788-0099 (Toll Free) and entering the following Webinar ID: 981 9139 0465 #. The hearing will also be accessible as a free-to-join webinar accessible through the world wide web address:
https://nycedc.zoom.us/j/98191390465?pwd=djlZWk13OS91QzFtU0ZkRkdFQ29ydz09
and entering the password: 553776 #.
The Agency will present information at such hearing on the proposed financings and transactions set forth above. 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 at: https://edc.nyc/nycida-board-meetings-public-hearings, starting on or about 12:00 P.M. fourteen (14) days prior to the hearing. Persons desiring to make a brief statement during the conference call regarding the proposed transactions should give prior notice to the Agency by sending an email to ftufano@edc.nyc no later than 5:00 P.M. the day before the hearing. Written comments may be submitted to the Agency to the following email address: ftufano@edc.nyc. Please be advised that it is possible that certain of the aforementioned proposed transactions may be removed from the hearing agenda prior to the hearing date. Information regarding such removals will be available on the Agency’s website at https://edc.nyc/nycida-board-meetings-public-hearings on or about 12:00 P.M. on the Friday preceding the hearing.
New York City Industrial Development Agency
Attn: Ms. Frances Tufano
One Liberty Plaza, 13th Floor
New York, New York 10006
(212) 312-3598