Notice of Public Hearing - Intercounty Associates II LLC

09/03/25

NOTICE IS HEREBY GIVEN that a public hearing pursuant to Title 1 of 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 16th day of September, 2025, at 11:30 a.m. local time, at the Agency’s offices located at Town of Brookhaven Town Hall, 2nd Floor, One Independence Hill, Farmingville, New York 11738, in connection with the following matters:

The Agency has previously provided its assistance to Intercounty Associates II LLC, formerly known as Intercounty Yaphank LLC, a New York limited liability company (the “Original Company”) and Intercounty Appliance Corp., a New York business corporation (the “Lessee”), by issuing its $9,000,000 Taxable Variable Rate Demand Industrial Development Revenue Bonds, Series 2005 (Intercounty Associates II LLC/Intercounty Appliance Corp. Facility) (the “Series 2005 Bonds”), which Series 2005 Bonds were used to finance certain costs of an industrial development facility consisting of the acquisition of an approximately 29.77 acre parcel of land located at 10 National Boulevard, Medford, New York, and the construction and equipping thereon of an approximately 250,000 square foot building (collectively, the “Original Facility”), the issuance of a series of additional Taxable Variable Rate Demand Industrial Development Revenue Bonds, Series 2013 (Intercounty Associates II LLC/Intercounty Appliance Corp. 2013 Facility) (the “Additional Bonds”; and together with the Series 2005 Bonds, the “Bonds”), in an aggregate principal amount of $4,500,000, for the acquisition, construction, renovation and equipping of an approximately 75,000 square foot addition to an existing approximately 250,000 square foot building located at the Original Facility all for use by the Lessee as warehouse and office space for the distribution of appliances (collectively, the “2013 Facility”; and together with the Original Facility, the “Facility”), which Facility was sold to the Original Company pursuant to a certain Installment Sale Agreement, dated as of January 1, 2005, as amended as of September 1, 2013 (collectively, the “Installment Sale Agreement”), between the Agency and the Original Company.

The Bonds were paid as of December 13, 2018, and the Agency consented to the Original Company’s request to an assignment by the Original Company of all of its rights, title, interest and obligations under the Original Installment Sale Agreement, the Original PILOT Agreement and other documents in connection therewith (all as defined in the hereinafter defined Assignment, Assumption and Amendment Agreement), the release of the Original Company from any further liability with respect to the Facility, and the release of the Lessee from certain documents in connection with the Facility, subject to certain requirements of the Agency, pursuant to a certain Assignment, Assumption and Amendment Agreement, dated December 13, 2018 (the “Assignment, Assumption and Amendment Agreement”), by and among the Agency, the Original Company, the Lessee and 10 National Medford LLC, a limited liability company organized and existing under the laws of the State of Delaware (the “Assignee” and “Company”).

The Original Installment Sale Agreement was assigned and amended pursuant to the Assignment, Assumption and Amendment Agreement (the Original Installment Sale Agreement, as so amended, the “Installment Sale Agreement”) and the Original PILOT Agreement was assigned pursuant to the Assignment, Assumption and Amendment Agreement, and the Company previously requested that the Agency provide continued abatements of real property taxes to the Company pursuant to a certain Second Amended and Restated PILOT Agreement, dated as of December 13, 2018 ( the “Second Amended and Restated PILOT Agreement”; and, together with the Original PILOT Agreement, the “PILOT Agreement”), by and between the Agency and the Company.

The Company has submitted a request to the Agency for financial assistance including an extension of the abatement of real property taxes on the Facility for a term of up to ten (10) additional years (the “PILOT Extension”), in connection with the Facility. The Facility will continue to be operated and/or managed by the Company. The Agency has previously acquired a fee interest in the Facility and will continue to sell the Facility to the Company.

The Agency contemplates that it will continue to provide financial assistance to the Company in the form of a modification and extension of current abatements 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 the proposed financial assistance to the Company.

Dated: September 5, 2025
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY

By: Lisa MG Mulligan
Title: Chief Executive Officer

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