3-1-21 Notice of Public Hearing Visiontron

NOTICE IS HEREBY GIVEN that due to the Novel Coronavirus (COVID-19) Emergency State and Federal bans on large meetings or gatherings and pursuant to Governor Cuomo’s Executive Order 202.1 issued on March 12, 2020, as amended to date, permitting local governments to hold public hearings by telephone and video conference and/or similar device, the Public Hearing scheduled for March 22, 2021, at 10:00a.m., local time, being held by the Town of Brookhaven Industrial Development Agency (the “Agency”), in accordance with the provisions of Article 18-A of the New York General Municipal Law will be held electronically via conference call instead of a public hearing open for the public to attend. Members of the public may listen to the Public Hearing, and comment on the Project (defined below) and the benefits to be granted by the Agency to the Company (defined below) during the Public Hearing, by calling (712-770-5505), and entering access code 884-124. Comments may also be submitted to the Agency in writing or electronically. Minutes of the Public Hearing will be transcribed and posted on the Agency’s website, all in connection with the following matters:

925 Waverly Ave. Associates, LLC, a limited liability company organized and existing under the laws of the State of New York, on behalf of itself and/or the principals of 925 Waverly Ave. Associates, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Company”), and Visiontron Corp., a business corporation organized and existing under the laws of the State of New York, on behalf of itself and/or the principals of Visiontron Corp., and/or an entity formed or to be formed on behalf of any of the foregoing (the “Sublessee”), have applied to the Agency for assistance in (a) the acquisition of an approximately 6.12 acre parcel of land (the “Land”), the acquisition and renovation of the approximately 79,682 square foot building and other improvements thereon (the “Improvements”), and the acquisition and installation therein of certain equipment not part of the Equipment (as defined herein) (the “Facility Equipment”), located or to be located at 925 Waverly Avenue, Holtsville, Town of Brookhaven, Suffolk County, New York (and further described on the Suffolk County Tax Map as No.200-804.00-01.00-001.005) (collectively, the Land, Improvements and Facility Equipment may be referred to as the “Company Facility”), which Company Facility is to be leased to the Agency by the Company, and subleased by the Agency to the Company, and further subleased by the Company to the Sublessee except, however, approximately 12,000 square feet of office space of the Company Facility shall be subleased by the Company to Topaz Lighting Corp. (the “Third Party Tenant”) until on or about October 31, 2021 (and thereafter subleased by the Company to the Sublessee), to be used for offices by the Third Party Tenant for its business of the distribution of lighting, lighting fixtures and other electrical fittings,and (b) the acquisition and installation of certain equipment and personal property (the“Equipment,” together with the Company Facility, the “Facility”) to be leased by the Agency to the Sublessee, and which Facility is to be used by the Sublessee for the manufacture and distribution of, and office space in connection with the Sublessee’s business of the manufacture and distribution of, crowd control products and related products, (the “Project”). The Company Facility will be initially owned, operated and/or managed by the Companyand the Equipment will be initially owned, operated and/or managed by the Sublessee.

The Agency will acquire a leasehold interest in the Land and Improvements and title to the Facility Equipmentand the Equipment, and will lease and sublease the Company Facility to the Company for further subleasing to the Sublessee, and will lease the Equipment to the Sublessee.

The Agency contemplates that it will provide financial assistance to the Company and the Sublessee in the form of exemptions from mortgage recording taxes in connection with the financing or any subsequent refinancing financing of the Facility, exemptions from sales and use taxes in connection with the construction/renovation and equipping of the Facility, and exemption of real property taxes, consistent with the uniform tax exemption policies (“UTEP”) of the Agency.

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 Facility. Prior to the hearing, all persons will have the opportunity to review on the Agency’s website (https://brookhavenida.org/) the application for financial assistance filed by the Company with the Agency and an analysis of the costs and benefits of the proposed Facility.

Dated: March 10, 2021
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY

By: Lisa MG Mulligan
Title:Chief Executive Officer