Notice of Public Hearing – AVR-SP Brookhaven JV

11/23/21

Application
CBA
Cover Letter

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 8th day of December, 2021, 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:

AVR-SP Brookhaven JV LLC, a limited liability company organized and existing under the laws of the State of Delaware and authorized to transact business in the State of New York, on behalf of itself and/or the principals and/or equity investors of AVR-SP Brookhaven JV 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 47.26-acre parcel of land located at Eastern terminus of Precision Drive, Shirley, New York 11967 (SCTM# 0200-554.00-03.00-004.410, 004.450 & 004.460) (the “Land”), (b) the clearance of 27.88 acres of the Land and the construction thereupon of two (2) buildings, totaling approximately 401,080 square feet, together with the acquisition, installation and equipping of improvements, structures and other related facilities attached to the Land (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. The Facility is to be used by the Company as two industrial buildings to be leased to tenants for warehouse and distribution operations or other permitted uses within the L1 Industrial zone (the “Project”). The Project will operate in an effort to attract tenants to the location, resulting in job creation and additional tax revenues for 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 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 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.

TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY

Dated: November 26, 2021
By: Lisa MG Mulligan
Title: Chief Executive Officer

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