Notice of public hearing li avenue holdings

11/01/19

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 12th day of November, 2019, at 1:00 p.m., local time, at Town of Brookhaven Division of Economic Development, 1 Independence Hill, Second Floor, Farmingville, New York 11738, in connection with the following matters:

LONG ISLAND AVENUE HOLDING, LLC, a limited liability company organized and existing under the laws of the State of New York, on behalf of itself and/or the principals of LONG ISLAND AVENUE HOLDING, 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 the acquisition and construction of an approximately 15,000 square foot building and other improvements (the “Improvements”) on an approximately 2.05 acre parcel of land (the “Land”),, and the acquisition and installation therein of certain equipment and personal property (the “Equipment”), located or to be located at Long Island Avenue, Yaphank, Town of Brookhaven, Suffolk County, New York (and further described on the Suffolk County Tax Map as No. 0200-703.00-01.00-050.001) (collectively, the Land, Improvements and Equipment may be referred to as the “Facility”), which Facility is to be leased to the Agency by the Company, and subleased by the Company to a future tenant or tenants not yet determined (the “Tenants”), as warehouse and ancillary office space. The Facility will be initially owned, operated and/or managed by the Company.

The Agency will acquire title to or a leasehold interest in the Facility, and will lease and sublease the Facility to the Company for further subleasing to the Tenants.

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 construction and permanent financing or any subsequent refinancing of the Facility, exemptions from sales and use taxes in connection with the acquisition, 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: November 1, 2019
TOWN OF BROOKHAVEN
INDUSTRIAL DEVELOPMENT AGENCY
By:
Lisa MG Mulligan
Title: Chief Executive Officer

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