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 Broome County Industrial Development Agency (the “Agency”) on the 11th day of July, 2023 at 5:00 p.m., local time, in the Exhibit Room at the Broome County Public Library, 185 Court Street, City of Binghamton, New York 13901, and will be streamed on the date and time above referenced at www.theagency-ny.com, in connection with the following matters:
UB Family, LLC, a limited liability company organized and existing under the laws of the State of New York, (the “Company”) has requested that the Agency assist in the financing of the acquisition, construction, and equipping of 120+/- new, market rate apartments to be situate within a new five floor building (the “Facility”) to be built above a new five level municipal parking garage, to be owned by the Binghamton Local Development Corporation, on a 0.91+/- acre of land located at 183 Water Street in the City of Binghamton, Broome County, New York (the “Land”) and the acquisition and installation in the Facility of certain machinery, equipment, furniture and fixtures (the “Equipment”). The Facility, the Land and the Equipment are hereinafter, collectively, the “Project”. The Project will be initially owned, operated and/or managed by the Company.
The Agency will acquire a leasehold interest in the Project from the Company and lease the Project back to the Company. At the end of the lease term, the Agency’s interest in the Project will be reconveyed to the Company. The Agency contemplates that it will provide financial assistance to the Company in the form of the issuance of exemptions from sales and use taxes, mortgage taxes, and an abatement of real property taxes deviating from the Agency’s Uniform Tax Exemption Policy.
A copy of the Company’s application to the Agency will be available for review during regular business hours at the Agency’s offices located at FIVE South College Drive, Suite 201, Binghamton, New York 13905.
A representative of the Agency will, at the above-stated time and place, hear and accept written comments from all persons with views in favor of or opposed to either the proposed financial assistance to the Company or the location or nature of the Project.
Minutes of the hearing will be made available to the County Executive of the County of Broome.
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Meeting ID: 861 8235 1833
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