The 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.”
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