Notice of Public Hearing - Brightview Port Jeferson, LLC - (Meeting will be Livestreamed)

12/27/19

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 7th day of January, 2020, at 11:00 a.m. local time, at the Town of Brookhaven, Offices of Economic Development, One Independence Hill, 2nd Floor, Farmingville, New York 11738, in connection with the following matters:

Brightview Port Jefferson, LLC, a limited liability company organized and existing under the laws of the State of Maryland, on behalf of itself and/or the principals of Brightview Port Jefferson, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Company”) and BV Port Jefferson Operator, LLC, a limited liability company organized and existing under the laws of the State of Maryland, on behalf of itself and/or the principals of BV Port Jefferson Operator, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Sublessee”), have applied to the Agency to enter into a transaction in which the Agency will assist in (i) the acquisition of an approximately 8.7 acre parcel of land located at 1175 NY-112 Port Jefferson Station, New York 11776 (the “Land”), (ii) the demolition of an approximately 8,900 square foot building located on the Land, and (iii) the construction of a three-story approximately 187,425 square foot building to contain approximately 170 apartment units (including Independent Living, Assisted Living and Alzheimer/Memory Care units) and associated parking, a new wastewater treatment plant, emergency power generator, a theater room, library, multiple dining venues, activity spaces and other associated improvements (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”), which Facility will be leased by the Agency to the Company and further subleased by the Company to, and used by, the Sublessee as a senior living residential community (the “Project”). The Facility will be initially owned by the Company and managed by the Sublessee.

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 for further sublease to the Sublessee. 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 policies 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. At the hearing, all persons will have the opportunity to review 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: December 27, 2019

TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

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