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Event Details

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Date:
June 9, 2022
Time:
8:00 AM
Location:

Zoom 

Address:
Glens Falls, NY 12801
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Public Hearing Industrial Development Agency

Thursday, June 9, 2022


NOTICE OF PUBLIC HEARING

 

NOTICE IS HEREBY GIVEN that a public hearing pursuant to Article 18-A of the New York State General Municipal Law will be held by the City of Glens Falls Industrial Development Agency (the “Agency”) on Thursday, the 9th day of June, 2022, at 8:00 a.m. local time via ZOOM at the meeting information below, in accordance with Legislation S. 7623A/A. 8591, amending Chapter 417 of the Law of 2021, in connection with the following matter at:

 

https://us02web.zoom.us/j/85961782892?pwd=aE5ZUCszY2R2LzlHYzl5RkZNQ084dz09

 

Meeting ID: 859 6178 2892

Passcode: 074475

 

EASM Holdings LLC, a limited liability company established pursuant to the laws of the State of New York, having an address of 51 Walnut Street, Glens Falls, New York 12801 (the “Company”) previously requested that the Agency provide financial assistance in the form of a payment in lieu of taxes, a mortgage recording tax exemption and sales tax abatements regarding a project (the “Project”) to consist of: (i) the acquisition by the Agency of a leasehold interest in certain real property located at 15-25 Park Street in the City of Glens Falls, County of Warren, New York (the “Land”); (ii) the planning, design, renovation, operation and maintenance by the Company of an approximately 12,000+/- square foot facility which will be used by the Company for a mixed-use facility that will consist of retail and residential space (collectively, the “Improvements”); (iii) the acquisition of and installation in and around the Land and Improvements by the Company of machinery, equipment, fixtures and other items of tangible personal property (the “Equipment” and, collectively with, the Land and the Improvements, the “Facility”); and (iv) entering into a straight lease transaction (within the meaning of subdivision (15) of Section 854 of the Act), pursuant to which the Agency will retain a leasehold interest in the Facility for a period of time and sublease such interest in the Facility back to the Company (the “Straight Lease Transaction”), all pursuant to Title 1 of Article 18-A of the General Municipal Law of the State of New York, Chapter 862 of the Laws of 1971 of the State of New York (collectively, the “Act”), as amended.  The Company entered into the transaction on May 5, 2021 and is not in default if any of the terms and conditions.

 

The Company has requested an increase in the amount of the exemption from all State and local sales and use taxes with respect to qualifying personal property included in and incorporated into the Facility or used in the acquisition, construction or equipping of the Facility that was previously approved by the Agency.

 

A representative of the Agency will be in attendance at the above-stated time and place to hear and accept written comments from all persons with views in favor of or opposed to the granting of financial assistance contemplated by the Agency or the location or nature of the Facility.  

Minutes of the hearing will be made available to all necessary parties.

 

City of Glens Falls

Industrial Development Agency

Judy Calogero, Chairperson

Published: May 24, 2022

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