Notice of Public Hearing for Biocogent

01/07/21

Application
CBA
Pilot

NOTICE IS HEREBY GIVEN that, due to the Novel Coronavirus (COVID-19) Emergency State and Federal bans on large meetings or gatherings and pursuant to Governor Cuomo’s Executive Order 202.1 issued on March 12, 2020, as amended to date, permitting local governments to hold public hearings by telephone and video conference and/or similar device, the Public Hearing scheduled for January 19, 2021, at 10:00 a.m., local time, will held electronically 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, via 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 calling (712-770-5505), and entering access code 884-124. Comments may also be submitted to the Agency in writing or electronically. Minutes of the Public Hearing will be transcribed and posted on the Agency’s website, all in connection with the following matters: 

The Agency previously assisted NAA PROPERTIES LLC, a New York limited liability company (the “Original Company”), and H.A.E. AIR, INC., a New York business corporation (“HAE Air”) in connection with the acquisition and equipping of an approximately 1.11 acre parcel of land (the “Land”), and the construction and equipping thereon of an 11,574 square foot building and other improvements thereon (the “Improvements”, together with the Original Land, the “Original Facility”), located at 19 Pinehurst Drive, Bellport, Town of Brookhaven, Suffolk County, New York (and further identified as Tax Map No. 200-813.0001.00-08.024), which Land with the improvements then existing were leased by the Original Company to the Agency pursuant to a certain Company Lease, dated as of May 1, 2018 (the “Original Company Lease”), and the Original Facility was subleased and leased by the Agency to the Original Company pursuant to a certain Lease and Project Agreement, dated as of May 1, 2018 (the “Original Lease Agreement”), and further subleased by the Company to HAE Air for its primary use of the manufacture and distribution of sheet metal products. 

The Original Company has entered into an agreement for the sale of the Original Company’s interest in the Original Facility. 

In connection with the agreement of sale for the Original Facility, the Original Company has requested the Agency’s consent to the assignment of all of the Original Company’s rights, title, interest and obligations under the Original Company Lease and the Original Lease Agreement to RESEARCH PROPERTY HOLDINGS, LLC, a New York limited liability company, on behalf of itself and/or the principals of RESEARCH PROPERTY HOLDINGS, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Company”), and the release of the Original Company  and HAE Air from any future liability incurred after the assignment with respect to the Original Facility subject to the requirements of the Agency. 

The Company, and BIOCOGENT, LLC, a New York limited liability company, on behalf of itself and/or the principals of BIOCOGENT, 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 for assistance in (a) the acquisition of Land, the renovation of the Improvements, and the acquisition and installation therein of certain equipment not part of the Equipment (as defined herein) (the “Facility Equipment”, together with the Land, Improvements, the “Company Facility”), which Company Facility is to be leased and subleased  by the Agency to the Company and further subleased by the Company to the Sublessee, and (b), and (b) the acquisition and installation of certain equipment and personal property (the “Equipment,” together with the Company Facility, the “Facility”) to be leased by the Agency to the Sublessee, and which Facility is to be used by the Sublessee for the manufacture and distribution of, and office space in connection with, the Sublessee’s business of the manufacture, distribution, and research and development of biologically-active dermatologic ingredients for non-regulated and over the counter skincare and med-care markets (collectively, the “Project”).  The Company Facility will be initially owned, operated and/or managed by the Company and the Equipment will be initially owned, operated and/or managed by the Sublessee. 

The Agency contemplates that it will provide financial assistance to the Company and the Sublessee in the form of exemptions from mortgage recording taxes in connection with the financing or any subsequent refinancing financing of the Facility, exemptions from sales and use taxes in connection with the renovation and equipping of the Facility, and the continued 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. 

Dated: January 7, 2021 
TOWN OF BROOKHAVEN   
INDUSTRIAL DEVELOPMENT AGENCY 
By: Lisa MG Mulligan
Title: Chief Executive Officer 

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