Notice of Public Hearing Long Island Ave. Extension

11/03/21

Updated CBA
Extension Request Letter
PILOT

NOTICE OF PUBLIC HEARING

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 16th day of November, 2021, at 10:00 a.m., local time, at Town of Brookhaven Industrial Development Agency, 1 Independence Hill, Second Floor, Farmingville, New York 11738, in connection with the following matters:

The Agency has previously assisted 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”), in connection with 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 leased to the Agency by the Company, and is to be subleased by the Company to a future tenant or tenants not yet determined (the “Tenants”), as warehouse and ancillary office space. The Facility is owned, operated and/or managed by the Company.

The Agency has received a request from the Company for the Agency’s assistance in extending the time periods during which the benefits previously granted by the Agency to the Company for the acquisition, construction, and equipping of the Facility may be utilized. The Agency will continue to hold a leasehold interest in the Facility and will continue to lease or sublease the Facility to the Company.

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.

Due to COVID-19 protocols, all persons attending the public hearing will be required to wear facemasks and maintain proper social distancing.

TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
Dated: November 5, 2021
By: Lisa MG Mulligan
Title: Chief Executive Officer

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