Notice of Public Hearing – RA Oak Run

11/06/24

Application
Assessment Report
CBA
Economic - Fiscal Analysis
 

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 19th day of November, 2024, at 10:00 a.m. local time, at the Agency’s offices located at the Town of Brookhaven Town Hall, 2nd Floor, One Independence Hill, Farmingville, New York 11738, in connection with the following matters:

RA Oak Run 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 RA Oak Run LLC and/or an entity formed or to be formed on behalf of any of the foregoing (the "Company"), has applied to the Agency to enter into a transaction in which the Agency will assist in (A) the acquisition of approximately 23.56 acres of land located on the northeast corner of New York State Route 25 and Birchwood Park Drive, Middle Island, New York (also known as Tax Map No. 200-401.00- 02.00-38.005) (the "Land"), (B) the construction, equipping and furnishing of approximately 74 new senior residential rental units across multiple buildings totaling approximately 95,158 square
feet of rental area, with (i) approximately 10% of such units to be reserved as affordable housing for residents whose incomes are at or below 80% of the median income according to household size for the Nassau-Suffolk primary metropolitan statistical area as defined by the Federal Department of Housing and Urban Development (“AMI”) and (ii) approximately 10% of such units to be reserved as workforce housing for residents whose incomes are at or below 120% of AMI, together with the acquisition, installation and equipping of improvements, structures and other related facilities attached to the Land (the "Improvements"), and (C) the acquisition and installation therein of certain equipment and personal property including, but not limited to, shared common areas and other amenities and the furnishing thereof, furniture, appliances, structures, clubhouse, pool, equipment and personal property in the units (the "Equipment"; and, together with the Land and the Improvements, the "Facility"), which Facility is to be subleased by the Agency to the Company to be known as The Villas at Oak Run and used by the Company to provide senior housing for the residents of Middle Island and Long Island (the "Project"). The Facility will be initially owned, operated and/or managed by the Company. 

The Agency will acquire a leasehold interest in the Land and Improvements and title to the Equipment and will lease and 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 financing or any subsequent refinancing of the Facility, exemptions from sales and use taxes in connection with the construction and equipping of the Facility, and exemption of real property taxes, all consistent with the uniform tax exemption policy (“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 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: November 8, 2024
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

< Back To All Posts