Tag: ggldc

Genesee County tech park sells six-acre parcel for mixed-use development

The Genesee Gateway Local Development Corp. last week approved the sale of a nearly six-acre parcel at the Buffalo East Technology Park in East Pembroke.

J&R Fancher Property Holdings LLC purchased the property, which includes three developable acres at $50,000 per acre, for a total of $150,000. The 5.8-acre parcel is in addition to eight acres acquired by J&R Fancher in 2020 for a proposed mixed-use residential and retail project.

The original project submitted by the company last year includes the construction of mixed-use buildings including market-rate housing and commercial space. It is expected that the company will submit a revised development plan for the site at a future date, officials said.

Don Cunningham
Don Cunningham

“We are excited about J&R Fancher’s development plans at Buffalo East Tech Park and appreciate their expanding investment in Pembroke,” said GGLDC Chairman Don Cunningham. “At the same time, we recognize the town of Pembroke as a great partner in our efforts to bring new jobs and investment to the site that are benefitting the town and county.”

The Buffalo East Tech Park is a 67-acre shovel-ready site located off Exit 48-A of the state Thruway at Routes 5 and 77. It is designed for manufacturing, food processing, warehouse and distribution operations, and among its tenants are Yancy’s Fancy Cheese. A three-acre parcel on Route 5 and a larger parcel in the interior of the park are available for development.

The GGLDC’s mission is to assist local economic development efforts by making real estate development investments to bolster shovel-ready tech and industrial park development and to provide tax and other related financial assistance to commercially viable projects in Genesee County.

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Genesee County agencies approve economic development spending

The Genesee County Economic Development Center board of directors has adopted a Phase 1 Housing Policy. The policy establishes incentives and criteria for multi-family rental/market-rate and multifamily rental/affordable housing projects.

The Phase 1 Housing Policy is the result of the findings from a study and assessment of
Genesee County’s housing stock conducted by LaBella Associates in 2018 and an economic development strategic assessment of Genesee County conducted by the Rockefeller Institute of Government in 2019.

Key findings of both assessments include:
• Genesee County has an extremely aged housing stock with an average median age of more than 73 years
• There is a marketplace demand/need for roughly 4,800 new housing units, market-rate apartments and owner-occupied units of $100,000 or more
• Grants and/or incentives should be provided to promote new housing construction
• Incentives should be created to spur investment in the housing stock
• Failure to meet market housing demand will negatively impact economic development, including potential out-migration of current residents

“I want to thank and acknowledge the great work of the members of the GCEDC Housing Committee, including our housing committee chair Paul Battaglia, that took a methodical approach in developing this policy,” said GCEDC President and CEO Steve Hyde. “It is irrefutable that there is a demand in the marketplace for new housing and if we do not address the supply there will be negative economic impacts.”

The GCEDC Phase 1 Housing Policy will offer property tax exemptions for new construction and/or rehabilitation of multi-family rental market rate and affordable housing projects; sales tax exemptions for the purchase of construction materials, equipment rentals and purchases; and mortgage tax exemptions. These are the typical incentives available through the GCEDC for projects across the county.

“The members of the Housing Committee and the GCEDC Board recognize that housing is an integral part of economic development, including the demand among employers who are concerned about being able to attract new workers as they expand their operations because of a lack of quality housing near their workplaces,” Battaglia said. “We are confident in the review by our legal counsel that we can begin to offer these incentives to developers to improve the County’s housing stock and we are excited about moving forward to get some projects started.”

Also in Batavia this week, the board of directors of the Genesee Gateway Local Development Corp. (GGLDC) passed a budget for fiscal year 2021 that anticipates cash outflows of roughly $2.1 million.

“The mission of the GGLDC is to foster local economic development by making real estate development investments that prepare sites in Genesee County for new corporate tenants,” said GGLDC Chairman Don Cunningham. “The GGLDC also provides strategic investment funding to support the GCEDC’s ongoing economic development and workforce development programs.”

The anticipated 2021 expenditures of the GGLDC include operations and maintenance for the MedTech Centre building, site/corporate park maintenance, an economic development program support grant to the Genesee County Economic Development Center (GCEDC), continuing support of a dedicated workforce development consultant and professional services.

Other significant items include an $820,000 pass-through grant from the state Department of Transportation that furthers the ability of the tenants of the Genesee Valley Agri-Business Park to access rail; $407,000 in debt service payments supporting development at the MedTech Centre campus; as well as $93,000 in expenses related to the GGLDC’s commitment to expanding utility capacities at the Buffalo East Technology Park for current and potential tenants.

A major source of revenue is rent of $696,000 from the MedTech Centre facility. Additional cash receipts will include $320,000 in principal and interest payments from several companies repaying loans made in previous years.

“The GGLDC will continue to actively market our shovel-ready parks in collaboration with the Genesee County Economic Development Center in 2021,” Cunningham said. “We have been working on a few projects that we anticipate will come to fruition by the end of 2021.”

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Genesee County companies expected to add 130 jobs

The Genesee County Economic Development Center has approved incentives for two LeRoy projects expected to create nearly 130 jobs.

Wright Associates plans to invest $9.5 million in the town of LeRoy to purchase and build out an existing 139,000-square-foot building on Wright Avenue that will create 125 new full-time jobs. The company will make significant renovations to the building and property, including the installation of a new roof, updates to the electrical system, improvements to the drainage system and installation of fiber optic cable, among other things.

Based in Rochester, the beverage distribution company has requested some $854,452 in mortgage, sales and property tax exemptions. The property’s local sales tax and payroll represent a $135.50 local impact for every $1 of incentives.

Wendt Propane Gas Service will invest $1.3 million to build a new 9,600-square-foot facility at the corner of Route 19 and North Road in the town of LeRoy, creating four new jobs. The company will expand its propane service to local residential, commercial, industrial and agricultural customers.

Wendt has been approved for roughly $120,000 in mortgage, sales and property tax exemptions. The project represents a $24.50 local impact for every $1 of incentives, GCEDC officials said.

The board also voted to accept an application for incentives from Fraser-Branche Property LLC, which is looking to purchase and renovate the YWCA building on North Street in Batavia. The company plans to renovate some 8,700 square feet of the 13,000-square-foot facility for an expansion of Three Little Birds Pediatrics and has proposed leasing back the remainder of the facility to the YWCA and two existing tenants.

The Fraser-Branche project’s capital investment is $1.4 million and the firm is seeking $105,000 in mortgage, sales and property tax exemptions. The project will be part of the Batavia Pathway to Prosperity program.

“These are three exciting projects for Genesee County, and especially the town of LeRoy and city of Batavia,” GCEDC Board Chairman Paul Battaglia said in a statement. “It’s great to see both the high level of capital investment being made and the number of jobs being created.”

Separately, the Genesee Gateway Local Development Corp. has passed its fiscal 2020 budget, which anticipates cash outflows of roughly $2.6 million.

“The mission of the GGLDC is to foster local economic development by making real estate development investments that prepare sites in Genesee County for new corporate tenants,” said GGLDC Chairman Don Cunningham. “The GGLDC also provides strategic investment funding to support the GCEDC’s ongoing economic development and workforce development programs.”

Expenditures include operations and maintenance for the county’s MedTech Centre building, site/corporate park maintenance, an economic development program support grant to GCEDC, continuing support of a dedicated workforce development consultant and professional services.

Other items include an $820,000 pass-through grant from the state Department of Transportation that will further the ability of the tenants of the Genesee Valley Agri-Business Park to access rail, as well as $450,000 in debt service payments supporting development at the MedTech Centre campus.

A major source of revenue is rent of $680,000 from the MedTech Centre facility, as well as cash receipts of $376,000 in principal and interest from several area companies.

“The GGLDC will continue to actively market our shovel-ready parks in collaboration with the Genesee County Economic Development Center in 2020,” Cunningham said. “We have been working on a few projects that we anticipate will come to fruition by the end of 2020.”

[email protected] / 585-653-4021
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Genesee County entities approve loan agreements, pass budget

gcedc genesee_county_economic_development_smallThe Genesee County Economic Development Center has approved revised payments in lieu of taxes for two Batavia projects, while its sister entity, the Genesee Gateway Local Development Corp. has agreed to a revised and consolidated loan and two purchase and sale agreements in Batavia.

GCEDC approved a $22.5 million PILOT for Savarino Cos., the developer of the Ellicott Station project in the City of Batavia. The project is a mixed-use brownfield redevelopment project including adaptive reuse and new construction of a blighted property in a key gateway to downtown.

The PILOT will help to meet the financing needed for the project’s expanded scope and scale, officials said in a statement. Incentives are estimated at $3.25 million, including property tax abatements and sales and mortgage tax exemptions.

When complete, the project will create 68 full-time jobs and will include the construction of a 99,000-square-foot brewery, restaurant and beer garden, a 5-story apartment building with 55 apartments and class-A office space.

GCEDC also approved an $18,000 mortgage tax exemption for Gateway GS LLC for the first of five planned 27,000-square-foot spec buildings the company is constructing at the Gateway II Corporate Park in Batavia.

The $2.6 million project, being managed by Gallina Development Corp., had previously received property and sales tax exemptions.

The GGLDC has approved a request for revision and consolidation of a January 2017 loan for Yancy’s Fancy’s expansion project at the company’s Pembroke facility. A $233,449 loan from the GGLDC’s revolving loan fund #2 will close out the fund and will be consolidated with two outstanding loans totaling $340,000.

The GGLDC also approved the sale of a 22.2 acre parcel at the Gateway II Corporate Park to Mega Properties Inc., which plans to build a 60,000-square-foot facility.

Wellsville Carpet Town Inc. received approval from the GGLDC to purchase a 2.9 acre parcel also located at Gateway II. The company—which owns Ashley HomeStore—plans to construct a 15,000- to 20,000-square-foot facility for an outlet center on the site. The land price was set at $45,000 per acre.

Separately, GGLDC last week passed its annual budget, which anticipates cash outflows of roughly $2.5 million.

“The mission of the GGLDC is to foster local economic development by making real estate development investments that prepare sites in Genesee County for new corporate tenants,” GGLDC Chairman Tom Felton said in a statement. “The GGLDC also provides strategic investment funding to support the GCEDC’s ongoing economic development and workforce development programs.”

The 2019 expenditures include operations for the MedTech Centre building, an economic development program support grant to the GCEDC, continuing to support a dedicated workforce development consultant and professional services.

Other expenditures include an $890,000 pass through grant from the state Department of Transportation for the Genesee Valley Agri-Business Park, $655,000 in debt service payments supporting development at the ag park and the MedTech Centre and $352,000 in expenses related to wastewater treatment facility upgrades in Corfu.

Major sources of revenue for the GGLDC is $670,000 in rent from the MedTech Centre, $205,000 from the Empire Pipeline Community Benefit Agreement and $202,000 in principal and interest payments from businesses repaying loans.

“The GGLDC will continue to actively market our shovel-ready parks in collaboration with the Genesee County Economic Development Center in 2019,” Felton said. “We have been working on a few projects that we anticipate will come to fruition by the end of 2019.”

[email protected] / 585-653-4021
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Float Center receives $100,000 loan from Genesee County

gcedc genesee_county_economic_development_smallThe Genesee Gateway Local Development Corp. (GGLDC) has approved a $100,000 loan for Rest & Revival Float Center LLC’s renovation of a Batavia facility.

The renovation includes the purchase of new machinery and equipment and has a capital investment of $355,000. The project will retain two jobs and create three new jobs. The loan will be provided through the GGLDC’s revolving loan fund.

The startup company will be the first health and wellness center in Batavia and Genesee County to provide floatation therapy services. Floatation therapy provides sensory deprivation therapy that is undertaken by floating in salt water in a commercial float tank. Rest & Revive will provide floatation therapy and retail sales of floatation sleep therapy systems.

“Businesses are developing new ideas to grow with our economy,” GGLDC board Chairman Tom Felton said in a statement. “The revolving loan fund offers assistance to create more opportunities for companies and our community.”

Separately, the Genesee County Economic Development Center (GCEDC) approved two applications for incentives at the agency’s board meeting this week.

Amada Tool, a division of Amada America Inc., is planning an $8.8 million capital investment to increase the company’s manufacturing facility by roughly 19,000 square feet in the City of Batavia. The project will create 17 new jobs and retain 68 jobs.

The investment includes $2.3 million in construction costs and $6.5 million in new equipment. Amada Tool is seeking property and sales tax exemptions of $266,000. GCEDC officials said roughly $85 will be generated in the regional economy for every $1 of private sector investment by Amada.

Six Flags Darien Lake LLC plans to build a new $2.15 million ride in 2019. The company is seeking some $166,000 in sales tax exemptions. GCEDC officials noted that Darien Lake is one of the largest sales tax revenue generators in Genesee County and one of the region’s most popular tourism destinations.

Both projects will require public hearings because the incentives are more than $100,000 for each company.

[email protected] / 585-653-4021
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