Accessibility questions: NYCEDC’s Equal Access Officer at 212-312-3602 or at EqualAccess@edc.nyc, by Thursday, April 22, 2021 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. The references to the bond amounts provided herein below are approximate and 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: Bespoke Harlem West LLC (the “Company”), a Brooklyn-based developer and a New York domestic limited liability company. Project Description: The Company seeks financial assistance in connection with the acquisition, construction, renovation, furnishing or equipping of a new ground-up 17,533 square foot retail condominium to be located on the ground floor and basement level within a 221,811 square foot mixed-use facility located on a 23,521 square foot parcel of land (the “Facility”). The Facility will be owned by the Company and leased to, and operated as a full service supermarket by, LM V Inc., a New York domestic business corporation. Address: 300 West 122nd Street, New York, New York 10027. Type of Benefits: Payments in lieu of City real property taxes, and exemption from City and State sales and use taxes. Total Development Cost: $15,934,935.20. Projected Jobs: 47.5 full time equivalent jobs projected. Hourly Wage Average and Range: $17.32/hour, estimated range of $15/hour to $25/hour.
Company Name: 34-02 LHB Realty LLC (“34-02 LHB Realty”) and 34-40 LHB Realty LLC (“34-40 LHB Realty”), each being a New York limited liability company and each affiliated with York Studios LLC, another New York limited liability company (“York”) who is an owner and operator of motion picture and television production facilities in New York City (collectively, the “Company”). Project Description: The Company seeks financial assistance in connection with (1) the demolition of an existing 9,600 square foot facility located on a 30,712 square foot parcel of land located at 34-40 Laurel Hill Blvd., Maspeth, New York (the “34-40 Parcel”); and (2) the construction, renovation, furnishing and equipping of an existing 33,000 square foot motion picture and television production facility located on a 46,300 square foot parcel of land located at 34-02 Laurel Hill Blvd., Maspeth, New York (the “34-02 Parcel”), and the consolidation, merger and expansion of facilities on the 34-40 Parcel and the 34-02 Parcel to create a combined and consolidated state of the art campus facility for motion picture and television production to consist of a 133,000 square foot ten-floor facility on the combined parcels to consist of two large stages, production offices, shop space (for dressing rooms, wardrobe rooms, set storage for props and carpentry shops for scenery, among other uses) and 4,000 square feet of parking (the “Expanded Facility”). The Expanded Facility will be located on both the 34-02 Parcel and the 34-40 Parcel. Addresses: 34-02 Laurel Hill Blvd., Maspeth, New York 11378 and 34-40 Laurel Hill Blvd., Maspeth, New York 11378. Type of Benefits: Payments in lieu of City real property taxes, deferral of City and State mortgage recording taxes, and exemption from City and State sales and use taxes. Total Development Cost: $35,000,000. Projected Jobs: 4.5 full-time equivalent jobs retained; 9.5 new full-time equivalent jobs projected. Hourly Wage Average and Range: $21.81/hour, estimated range of $20.00/hour to
$30.00/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 issued by the Governor of the State of New York, and all extensions to Executive Order 202.1 issued thereafter, 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, April 22ND, 2021. 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 Meeting ID: 961 0355 3334# followed by Participant Code: 765450#. The hearing will also be accessible as a free-to-join webinar accessible through the world wide web address:
https://nycedc.zoom.us/j/96103553334?pwd=UWV4b1dDNXBDTHJRYXlXTEl5d0RNQT09 and entering the password: 765450#.
Once on the conference call any member of the public will be given an opportunity to make a brief statement regarding the projects listed above. Please follow the instructions given by the public hearing moderator.
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