Notice of Public Hearing - Mt. Sinai Knolls

11/08/23

Application
CBA

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 15th day of November, 2023, at 10:30 a.m. local time, at the Town of Brookhaven Town Hall, 1 Independence Hill, Farmingville, New York 11738, in connection with the following matters:

The Agency has previously provided its assistance to Engel Burman at Mt. Sinai, LLC, a New York limited liability company (the “Company”), whose sole member is HSRE-EB XVII, LLC, a Delaware limited liability company (the “Membership Interest”), in the (A) the acquisition of an approximately 17.81 acre parcel of land located at 300 Sutton Court, Mount Sinai, Town of Brookhaven, New York (also known as Tax Map No. 0200-118.00-03.00- 004.003) (the “Land”), (B) the construction, equipping and furnishing of approximately 225 new senior independent residential rental units across approximately thirty (30) buildings of one (1) and two (2) story heights including, a clubhouse, community building and swimming pool and (C) the construction of (i) roadways, drive aisles and parking for approximately 423 vehicles and sidewalks, lighting and landscaping, (ii) a new wastewater collection system to be connected to an existing sanitary manhole being part of the Suffolk County Sewer District #2 (Talmadge Woods sewage treatment plant), (iii) storm-water drainage facilities in the forms of dry-well systems, culverts, collection and drain pipes to manage storm-water from new impervious areas on-site, and (iv) utility service connections including electrical, gas, water service, cable and internet service (subsections (B) and (C) are collectively, the “Equipment” and the “Improvements”; and together with the Land, the “Facility”), which Facility is presently leased by the Agency to the Company, and used by the Company as a senior living community known as Sutton Landing at Mount Sinai (the “Project”). The Facility is owned, operated and/or managed by the Company.

The Company has requested the Agency consent to the sale of 100% of the Membership Interest (the “Sale”), to Mount Sinai Knolls Portfolio Holdings LLC, a Delaware limited liability company, on behalf of itself and/or the principals of Mount Sinai Knolls Portfolio Holdings LLC and/or an entity formed or to be formed on behalf of the foregoing (collectively, the “Purchaser”) and in connection therewith, the Purchaser has submitted an application for financial assistance (the “Application”), to the Agency and requested the Agency’s consent to the purchase of the Membership Interest in the Company. The Application also notes a potential proposed merger of the Company into a formed or to be formed Delaware limited liability company (on behalf of the principals of the Company in connection with the proposed Sale).

The Agency contemplates that it will continue to provide financial assistance to the Company in the form of continued abatement of real property taxes pursuant to terms of the Lease and Project Agreement and related documents, and all 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 Sale or the continued 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 Purchaser with the Agency and an analysis of the costs and benefits of the proposed Facility.

Dated: November 5, 2023
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

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