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9-14-21 Notice of Public Hearing Port Development

09/02/21

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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 14th day of September, 2021, at 1:00 p.m. local time, at Port Jefferson Village Hall, 121 West Broadway, First Floor Conference Room, Port Jefferson, New York 11777, in connection with the following matters:

Port Development 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 Port Development LLC and/or an entity formed or to be formed on behalf of any of the foregoing (the “Company”), has applied to the Agency to enter into a transaction in which the Agency will assist in (a) the acquisition of multiple parcels totaling approximately .87 acres of land located at 1 North Country Road, Port Jefferson, New York (the “Land”), (b) the demolition of two (2) existing buildings located thereon (one (1) building approximately 4,400 square feet and one (1) building approximately 1,800 square feet), (c) the construction, equipping and furnishing of a 3-story approximately 48,550 square foot building (excluding an approximately 1,800 square foot portion thereof that will be used for retail and/or office space) containing approximately 36 residential apartments (thirty-two (32) 1-bedroom units and four (4) 2-bedroom units), approximately 1500 square foot private fitness/game room, lobby, recreation area, storage, utility room, elevator, outdoor and covered patio area, garage and outdoor parking of together with the acquisition, installation and equipping of improvements, structures and other related facilities attached to the Land (the “Improvements”), and (c) the acquisition and installation therein of certain equipment and personal property including, but not limited to, including shared common areas and other amenities and the furnishing thereof including, but not limited to, furniture, appliances, structures, equipment and personal property in the units (the “Equipment”; and, together with the Land and the Improvements, the “Facility”), which Facility is to be subleased by the Agency to the Company to be used by the Company to provide a mixed-use development consisting of residential, office and retail space (the “Project”).  The Facility will be initially owned and managed or operated by the Company.

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

 

Dated: September 4, 2021
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

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