8-17-21 Public Hearing Notice Bactolac Pharmaceutical Inc.

08/04/21

PILOT
CBA

NOTICE IS HEREBY GIVEN that a public hearing pursuant to Article 18-A of the New York General Municipal Law will be held by the Town of Brookhaven Industrial Development Agency (the “Agency”) on the 17th day of August, 2021, at 10:00 a.m. local time, at Town of Brookhaven Industrial Development Agency, 1 Independence Hill, Second Floor, Farmingville, NY 11738, in connection with the following matters:

BACTOLAC PHARMACEUTICAL INC., a corporation organized and existing under the laws of the State of Delaware and authorized to conduct business in the State of New York, on behalf of itself and/or the principals of BACTOLAC PHARMACEUTICAL INC. and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Company”), has applied to the Agency for assistance in the acquisition of an approximately 11.9 acre parcel of land (the “Land”), the acquisition and construction of an approximately 148,500 square foot building and other improvements thereon (the “Improvements”), and the acquisition and installation therein of certain equipment (the “Equipment”), located or to be located at Ramsey Road, Yaphank, Town of Brookhaven, Suffolk County, New York (and further identified as Tax Map No. 200-554.00-03.00-004.052 and 005.000) (collectively, the Land, Improvements and Equipment may be referred to as the “Facility”), which Facility is to be leased to the Agency by the Company, subleased by the Agency to the Company, and is to be used by the Company for the manufacture and warehousing of vitamins and dietary supplements, and office space in connection therewith.  The Facility will be initially owned, operated and/or managed by the Company.
The Agency will acquire a leasehold interest in the Land and Improvements and title to the Equipment, and will lease and sublease the Facility to the Company.   

The Agency contemplates that it will provide financial assistance to the Company 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 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.

TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY

Dated: August 6, 2021
By: Lisa Mulligan
Title: Chief Executive Officer

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