notice of public hearing - Integrated structure

10/08/20

CBA

PILOT

Application Redacted

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 October 21, 2020, at 10:00 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 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:

Integrated Structures Corp., a business corporation organized and existing under the laws of the State of New York, on behalf of itself and/or the principals of Integrated Structures Corp. and/or an entity formed or to be formed on behalf of any of the foregoing (the “Applicant” and “Sublessee”), has applied to the Agency to enter into a transaction in which the Agency will assist the Company (as defined below) in the acquisition of an approximately 3.03 acre parcel of land located at 4 Pinehurst Drive, Bellport (the “Land”), and an existing approximately 20,000 square foot building located on the Land and the construction of an approximately 4,000 to 5,000 square foot addition to the existing building (the “Improvements”), and the acquisition and installation therein of certain equipment and personal property, not part of the Equipment (as such term is defined herein) (the “Facility Equipment”; and together with the Land and the Improvements, the “Company Facility”). The Company Facility will be leased by an entity formed or to be formed and an entity related to the Sublessee and/or the principals of the Sublessee (the “Company”), to the Agency and subleased by the Agency back to the Company and the Company will sub-sublease the Company Facility to the Sublessee, and (b) the acquisition and installation of certain equipment and personal property (the “Equipment”; and together with the Company Facility, the “Facility”), which Equipment is to be leased by the Agency to the Sublessee and which Facility is to be used by the Sublessee for the manufacture and fabrication of structural steel parts (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 and the Sublessee 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 construction 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 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 with the Agency and an analysis of the costs and benefits of the proposed Facility.

Dated: October 10, 2020

TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa M. G. Mulligan
Title: Chief Executive Officer

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