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9-14-21 Notice of Public Hearing Coast to Coast Real Estate, LLC

09/03/21

Application
CBA
Mins

NOTICE IS HEREBY GIVEN that due to the ongoing public health crisis caused by the Novel Coronavirus (COVID-19) and pursuant to Chapter 417 of the laws of 2021, effective September 2, 2021 through January 15, 2022, permitting local governments to hold public hearings by telephone and video conference and/or similar device, the Public Hearing scheduled for September 14, 2021, at 11:30 a.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 video 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 logging in as follows: https://us02web.zoom.us/j/85672180599?pwd=NEQ4QllvRWt1T1QwWTNmUnZoWGphUT09 and entering Passcode: 016571.  Comments may also be submitted to the Issuer in writing or electronically. Minutes of the Public Hearing will be transcribed and posted on the Issuer’s website, all in connection with the following matters:

Coast 2 Coast Real Estate, 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 Coast 2 Coast Real Estate, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (the “Applicant” and “Company”), has applied to the Agency to enter into a transaction in which the Agency will assist the Company in the acquisition of an approximately 1.75 acre parcel of land located at 20 Pinehurst Drive, Bellport, New York (the “Land”), the renovation of an existing approximately 19,172 square foot building located thereon (the “Improvements”), and the acquisition and installation therein of certain equipment and personal property (the “Equipment”; and together with the Land and the Improvements, the “Facility”), all to be leased by the Agency to the Company, and subleased by the Company to multiple tenants, including, but not limited to, Coast 2 Coast Plumbing and HVAC, LLC (d/b/a 1 800 Plumber), Coast 2 Coast Restoration, LLC (d/b/a Restoration 1), Target Media Group Corp., and Bold Systems, LLC (collectively, the “Tenants”), to be used by the Tenants respectively, as office, storage and distribution space (the “Project”).  The Facility will be initially owned and managed or operated by 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 or permanent financing of the Facility, exemptions from sales and use taxes in connection with the renovation and equipping of the Facility, and abatement of real property taxes, all 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..

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