8-17-22 Notice of Public Hearing - G4 18197

08/04/22

Application
PILOT
CBA
Cover Letter
Economic Impact Analysis
Assessment

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, 2022, at 11:00 a.m. local time, at 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:

G4 18197, 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 G4 18197, LLC 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 connection with: (a) the acquisition of an approximately 2.12-acre parcel of land located at 365-369 East Main Street, East Patchogue, New York 11772 (SCTM# 0200- 977.50-04.00-20, 28, 38, 40, 41 & 43) (the “Land”), (b) the construction, equipping and furnishing of three (3) two-story buildings, approximately 49,078 square feet in total, consisting of forty (40) residential units, four (4) of which will be utilized as affordable housing units, and four (4) of which will be utilized as workforce housing units (the “Improvements”), and the acquisition and installation therein of certain equipment and personal property (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 and used by the Company to provide residential housing for the residents of East Patchogue (the “Project”). The Company Facility will be initially owned, operated and/or managed by the Company.

The Agency will acquire a leasehold interest in the Land and the Improvements and title to the Facility Equipment from the Company. The Agency will sublease and lease the Company 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 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 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.

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, 7th, 2022
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY

By: Lisa M. G. Mulligan
Title: Chief Executive Officer

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