Additional Description 1
<p align='center'> <u>NOTICE OF PUBLIC HEARING</u></p> <p> </p> <p align='left'> 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 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, square footage amounts and wage information shown below are approximate numbers.</p> <p> <br /> <strong>Company Name(s):</strong> 425 Westchester Fee Owner, LLC, a New York limited liability company and its affiliates (the “Company”), a joint venture of AB Capstone, a developer, owner and manager of commercial real estate, and Starwood Opportunity Zone Partners, a commercial real estate investor. <strong>Project Description:</strong> The Company seeks financial assistance in connection with the construction, furnishing and equipping of a 10-story, approximately 147,000 square foot commercial building on two contiguous parcels of land totaling approximately 19,155 square feet located at 601 Bergen Avenue, Bronx, New York and 423-425 Westchester Avenue, Bronx, New York (the “Facility”). The Facility will be owned by the Company and leased to the Company by the Agency for use by commercial tenants and not-for-profit organizations. <strong>Addresses:</strong> 601 Bergen Avenue, Bronx, New York 10455 and 423-425 Westchester Avenue, Bronx, New York 10455. <strong>Type of Benefits: </strong>Partial exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes. <strong>Total Project Cost:</strong> $78,100,000. <strong>Projected Jobs:</strong> 230 full time equivalent jobs projected. <strong>Hourly Wage Average and Range:</strong> $20.50/hour, estimated range of $15.00/hour to $26.00/hour.</p> <p> <br /> <strong>Company Name(s): </strong>33 Plaza, LLC, a New York limited liability company (“33 Plaza””) and B.C.S. International Corporation, a New York corporation, doing business as Royal Food (the “Company”). The Company is engaged in the business of distributing nuts, candies, dried food and other food items, including specialty, organic, natural, vegetarian and gourmet foods. <strong>Project Description:</strong> The Company seeks financial assistance in connection with the renovation, construction, and equipping of an approximately 55,000 square foot vertical extension to an existing 100,061 square foot building located on an approximately 70,000 square foot parcel of land located at 47-15 33<sup>rd</sup> Street, Long Island City, New York (“the Facility”). The Facility will be owned by 33 Plaza and operated by the Company as a warehousing and distribution facility. <strong>Address:</strong> 47-15 33<sup>rd</sup> Street, Long Island City, New York 11101.<strong> Type of Benefits:</strong> 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. <strong>Total Project Cost:</strong> $3,870,000. <strong>Projected Jobs:</strong> 174 full time equivalent jobs currently, 204 full time equivalent jobs projected. <strong>Hourly Wage Average and Range:</strong> $22.88/hour, estimated range of $15.76/hour to $80.81/hour.</p> <p> </p> <p> <strong>Company Name(s):</strong> Care Foods International Corp., a New York Corporation, and Maruwa Corp., a New York corporation, each doing business as Royal Food (collectively, the “Company”). The Company is engaged in the business of nut roasting and the cleaning and packing of seafood. <strong>Project Description</strong> The Company seeks financial assistance in connection with the acquisition, construction and equipping of a new 37,500 square foot building located on an approximately 12,500 square foot parcel of land located at 54-64 43<sup>rd</sup> Street, Maspeth, New York (the “Facility”). The Facility will be owned by the Company, or an affiliate of the Company, and operated by the Company as a warehousing, processing and distribution facility. <strong>Address:</strong> 54-64 43<sup>rd</sup> Street, Maspeth, New York 11378.<strong> Type of Benefits:</strong> 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. <strong>Total Project Cost: </strong>$6,976,000. <strong>Projected Jobs:</strong> 0 full time equivalent jobs currently, 22.5 full time equivalent jobs projected. <strong>Hourly Wage Average and Range:</strong> $22.26/hour, estimated range of $15.76/hour to $28.59/hour.</p> <p align='left'> </p> <p> <strong>Company Name(s): </strong>A to-be-formed company (the “Company”) affiliated with Evergreen Inc.: Your North Brooklyn Business Exchange, a New York not-for-profit corporation (the “Developer”). The Developer is a real estate developer that provides affordable space to industrial companies. <strong>Project Description:</strong> The Company seeks financial assistance in connection with the acquisition, construction, renovation, equipping and/or furnishing of an approximately 10,000 square foot building on an approximately 10,000 square foot parcel of land located at 500 Stagg Street, Brooklyn, New York (the “Facility”). The Facility will be owned by the Company and developed by the Developer to provide affordable space to industrial companies. <strong>Address:</strong> 500 Stagg Street, Brooklyn, New York 11237. <strong>Type of Benefits:</strong> 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. <strong>Total Project Cost:</strong> approximately $7,100,000. <strong>Projected Jobs:</strong> 10 full-time equivalent jobs retained; 10 full-time equivalent jobs projected. <strong>Hourly Wage Average and Range:</strong> $27.74/hour, estimated range of $15/hour to $28.79/hour.</p> <p align='left'> </p> <p> <strong>Company Name(s):</strong> Jughandle Realty, LLC, a New York limited liability company (“Jughandle”), and Bartlett Dairy, Inc. (the “Company”), a New York corporation, store, process and distribute dairy and other food products. <strong>Project Description:</strong> The Company seeks financial assistance in connection with the acquisition of an approximately 267,893 square foot parcel of land located at 154-68 Brookville Boulevard, Jamaica, New York and the construction, furnishing and equipping of an approximately 56,000 square foot industrial building thereon (collectively, the “Facility”). The Facility will be owned by Jughandle and operated by the Company and used for the warehousing, processing and distribution of food products. <strong>Address: </strong>154-68 Brookville Boulevard, Jamaica, New York 11422. <strong>Type of Benefits:</strong> 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. <strong>Total Project Cost:</strong> $18,393,350. <strong>Projected Jobs:</strong> 42 full time equivalent jobs retained; 147 full time equivalent jobs projected. <strong>Hourly Wage Average and Range:</strong> $20.88/hour, estimated range of $15.50/hour to $33.00/hour.</p> <p align='left'> </p> <p> <strong>Company Name(s):</strong> Manhattan Beer Distributors LLC, a New York limited liability company that is engaged in the distribution of beer and other beverages, and BAMMS Two Realty, LLC, an affiliated real estate holding company (collectively, the “Company”). <strong>Project Description:</strong> The Company seeks financial assistance in connection with the acquisition, renovation, furnishing and equipping of an existing approximately 140,608 square foot facility on an approximately 222,700 square foot parcel of land located at 999 East 149<sup>th</sup> Street, Bronx, New York (the “Facility”). The Facility will be owned by BAMMS Two Realty, LLC and operated by Manhattan Beer Distributors LLC as a beverage warehouse and distribution facility. <strong>Address: </strong>999 East 149<sup>th</sup> Street, Bronx, New York 10455. <strong>Type of Benefits:</strong> 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. <strong>Total Project Cost:</strong> approximately $80,000,000. <strong>Projected Jobs:</strong> 16 full-time equivalent jobs retained; 2 full-time equivalent jobs projected. <strong>Hourly Wage Average and Range:</strong> $23.92/hour, estimated range of $22.55/hour to $27.22/hour.</p> <p align='left'> </p> <p> 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 <a href='http://www.nycedc.com/nycida-project-info'>www.nycedc.com/nycida-project-info</a>.</p> <p> </p> <p> 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 <a href='mailto:EqualAccess@edc.nyc'>EqualAccess@edc.nyc</a>.</p> <p> </p> <p> Pursuant to Section 859a of the General Municipal Law of the State of New York, the Agency will hold a hearing on the proposed financings and transactions set forth above at the office of NYCEDC, 110 William Street, 4th Floor, New York, New York 10038, commencing at 10:00 A.M. on <strong>Thursday, July 11<sup>TH</sup>, 2019</strong>. Interested members of the public are invited to attend. The Agency will present information at such hearing on the proposed financings and transactions set forth above. The Agency will, in addition, provide an opportunity for the public to review at such hearing the project application and the cost-benefit analysis for each of the proposed financings and transactions. 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, starting on or about noon fourteen (14) days prior to the hearing. Persons desiring to obtain copies of these materials may visit the website of New York City Economic Development Corporation at <a href='http://www.nycedc.com/'>www.nycedc.com</a> or may call (212) 312-3598. Persons desiring to make a brief statement regarding the proposed transactions should give prior notice to the Agency at the address or phone number shown below. Written comments may be submitted to the Agency to the attention of Ms. Frances Tufano at the address shown below. Please be advised that certain of the aforementioned proposed transactions may possibly be removed from the hearing agenda prior to the hearing date. Information regarding such removals will be available by contacting <a href='mailto:ftufano@nycedc.com'>ftufano@nycedc.com</a> on or about noon on the Friday preceding the hearing.</p> <p> </p> <p align='center'> New York City Industrial Development Agency</p> <p align='center'> Attn: Ms. Frances Tufano</p> <p align='center'> 110 William Street, 5th Floor</p> <p align='center'> New York, New York 10038</p> <p align='center'> (212) 312-3598</p>
