8-17-21 Notice of Public Hearing Surf Land USA, LLC,

08/05/21

CBA
Feasibility Study

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 Town of Brookhaven Industrial Development Agency (the “Agency”) on the 17th day of August, 2021, at 10:30 a.m. local time, the Agency’s offices located at the Town of Brookhaven Town Hall, 2nd Floor, One Independence Hill, Farmingville, New York 11738, in connection with the following matters:

Surf Land USA, 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 and/or equity investors of Surf Land USA, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Company”), and Long Island Surf Park 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 and/or equity investors of Long Island Surf Park LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Sublessee”), have applied to the Agency for assistance in connection with: (a) the acquisition of an approximately 3.49-acre parcel of land located at 91 Precision Drive, Shirley, New York 11967 (SCTM# 0200-554.00-03.00-004.050) (the “Land”), the construction of an approximately 6,750 square foot building; plus a detached pool and filtration house of approximately 2,000 square feet thereon (the “Improvements”), and the acquisition and installation therein of certain equipment and personal property, not part of the Equipment (as defined below) (the “Facility Equipment”; and together with the Land and the Improvements, the “Company Facility”), which Company Facility will be leased by the Company to the Agency and will be subleased by the Agency back to the Company for further subleasing to the Sublessee; and (b) the acquisition and installation of certain equipment and personal property, including but not limited to, an in-ground pool, wave and surf making equipment, Co-gen (Chp) plant, lighting and pool filters (the “Equipment”; and together with the Company Facility, the “Facility”), which Equipment is to be leased by the Agency to the Sublessee.  The Facility is to be used by the Sublessee a state-of-the-art surf park and recreational facility to be used year-round by residents of the Town of Brookhaven, New York (the “Town”) and visitors to the Town (the “Project”). The Project will provide service, not otherwise reasonably accessible to the residents of the Town.  The Company Facility will be initially owned, operated and/or managed by the Company. The Equipment will be initially owned, operated and/or managed by the Sublessee.

The Agency will acquire a leasehold interest in the Land and the Improvements and title to the Facility Equipment from the Company and title to the Equipment from the Sublessee.  The Agency will sublease and lease the Company Facility to the Company for further subleasing to the Sublessee.  The Agency 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 of the Facility, exemptions from sales and use taxes in connection with the construction and equipping of the Facility and abatement 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 and the Sublessee 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 and the Sublessee with the Agency and an analysis of the costs and benefits of the proposed Facility. Due to COVID-19 protocols, all persons attending the Public Hearing will be required to wear face masks and maintain proper social distancing.

Dated:  August 7, 2021

TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

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