Accessibility questions: EqualAccess@edc.nyc, by Wednesday, January 17, 2024 5:00 PM
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 or project cost amounts provided herein below are approximate and shall be deemed to mean up to such stated amount or a greater principal amount not to exceed 10% of such stated amount. All other amounts and square footage amounts and wage information shown below are approximate numbers.
Company Name(s): CHPE LLC, a New York limited liability company (the “Company”) owned by TDI-USA Holdings LLC, a Delaware limited liability company doing business as Transmission Developers and TDI. The Company was formed for the purpose of designing, permitting, financing, constructing, installing and operating an electric transmission system, known as the Champlain Hudson Power Express, to transmit hydroelectric power from the US-Canadian border to New York City via high-voltage direct current (“HVDC”) cables with a capacity of 1,250 MW to a converter station to be constructed in Astoria, Queens. The total length of the transmission system is approximately 339 miles, of which approximately 11.7 miles will be located within New York City. The HVDC cables will enter New York City via the Hudson River and the Harlem River, before being constructed underground on land owned by the City of New York, Consolidated Edison Company of New York, Inc. (“ConEd”) and others, and terminating at the Converter Station. Project Description: The Company seeks financial assistance in connection with the construction, installation and equipping of a 94,000 square foot converter station building and related electrical infrastructure, facilities, equipment and improvements (collectively, the “Converter Station”), to be located on an approximately 342,720 square foot parcel of land (the “Land”, and together with the Convertor Station, the “Project Realty”) owned by the Company, having the address 31-45 20th Avenue in Astoria, Queens (Tax Block 850, lot 310 on the Tax Map for the Borough of Queens). The Converter Station will serve to convert transmitted power from HVDC to high-voltage alternating current (“HVAC”), the form of electrical current required for distribution onto the New York City electricity grid. Address: 31-45 20th Avenue, Astoria, NY 11105 (Tax Block 850, lot 310 on the Tax Map for the Borough of Queens). Type of Benefits: Payments in lieu of City real property taxes with respect to the Project Realty. Total Development Cost: $321,400,000 for the Converter Station. Projected Jobs: 21 full-time equivalent jobs projected. Hourly Wage Average and Range: $114.31/hour, estimated range of $72.12/hour to $128.21/hour.
Company Name: Wintergreen Clean Energy, LLC, a Delaware limited liability company (the “Company”). The Company is a wholly owned subsidiary of NineDot Energy, LLC (“NineDot”). NineDot is a community distributed energy generation developer. Project Description: The Company is seeking financial assistance in connection with the construction and equipping of four battery energy storage systems with an estimated capacity of 4.9 Megawatts (MW) each consisting of (i) batteries and other equipment, including transformers, switchboards and breakers, metering 78.3 MW hours of energy storage capacity total per day (collectively, the “Battery System”); and (ii) four solar canopy systems consisting of a photo-voltaic system mounted on the roof of a vault that will house switchgears and metering for the battery systems, with an estimated solar power generation of 240 kilowatt hours total per day (the “Solar System”). The four battery energy storage systems and Solar System will total 5,380 and 3,500 square feet, respectively, and will be located on a to-be-subdivided lot totaling 20,000 square feet currently part of a 22,500 square foot parcel of land at 657 Casanova Street, Bronx, New York (the “Facility”). The Facility will be owned by the Company and operated as a Battery System capable of charging from and discharging into the New York power grid, as well as a Solar System connected to the Battery System. Address: 657 Casanova Street, Bronx, New York 10474. Type of Benefits: Partial exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes. Total Project Cost: $77,300,000. Projected Jobs: 2 full-time equivalent jobs retained and 2 new full-time equivalent jobs projected. Hourly Wage Average and Range: $88.53/hour, estimated range of $66.48/hour to $110.58/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 the Agency will hold a hearing at the offices of NYCEDC, 1 Liberty Plaza, 14th Floor, New York, New York 10006 on the proposed financings and transactions set forth above, commencing at 10:00 A.M. on Thursday, January 18TH, 2024.
Interested members of the public are invited to attend and will be given an opportunity to make a brief statement regarding the projects listed above.
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