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Notice of Third Supplemental Public Hearing- Brookhaven Venture LLC

11/03/21

CBA
Assignment Letter
PILOT

NOTICE OF THIRD SUPPLEMENTAL 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 10:30 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:

BRP Farmingville 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 BRP Farmingville LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, “BRP”), submitted its application for financial assistance (the “Original Application”) to the Agency for assistance in connection with (A) the acquisition of an approximately 62.0 acre parcel of land located at 510 Horseblock Road, Farmingville, New York (also known as 3 Tax Map Nos. 0200-626.00-03.00-039.500 and 040.000 and 0200-653.00-07.00-001.000) (collectively, the “Land”), (B) (i) the demolition of an approximately 5,000 square foot building located thereon, (ii) the renovation and equipping of an approximately 3,000 square foot building located thereon, and (iii) the construction, equipping and furnishing of multiple buildings to include 292 residential units (of which 10% will be set-aside as affordable units) and consisting of 164 two-bedroom units, (with 2 baths), 77 two and three bedroom townhome style units (with 2 and 2.5 baths) and 51 single-family detached style cottages which will be three and/or four bedroom homes (with 2 and 2.5 bath), including an approximately 7,500 square foot clubhouse, with pools and outdoor activities, a state of the art 150,000 gallons-per-day on-site waste water treatment plant, a 7-acre park with walking trails for use by all residents of Farmingville, and an approximately 1200 square foot building to be constructed and donated for use by the Farmingville Chamber of Commerce as an office, 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, including common areas consisting of recreational areas and other amenities and the furnishing thereof including, but not limited to furniture, appliances in the units, kitchen equipment (the “Equipment”; and, together with the Land and the Improvements, the “Facility”), which Facility is to be subleased by the Agency to BRP to be known as The Arboretum at Farmingville and used by BRP to provide multi-family housing and outdoor recreational green space areas for the residents of Farmingville (the “Project”).  

The Agency previously held a public hearing on August 20, 2019.

Subsequent to the submission of the Original Application by BRP to the Agency, BRP notified the Agency of a change in ownership structure of the Facility and requested that the Agency consent to amend the Application (the “First Amendment to Application”), to reflect that Brookhaven Venture 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 Brookhaven Venture LLC and/or an entity formed or to be formed on behalf of any of the foregoing (the “Company”), will be the fee owner of the Project.  The Facility will be initially owned, operated and/or managed by the Company and BRP.

The Agency previously held a supplemental public hearing on March 24, 2020.

Subsequent to the supplemental public hearing, Company notified the Agency that due to the dramatic changes in the construction and materials markets caused by the COVID-19 Pandemic, the original project costs outlined in the Application are out-of-date and significantly lower than the currently anticipated costs.  In connection with the increased costs, the Company requested that the Agency consent to a second amendment to the Original Application (the “Second Amendment to Application”), to reflect current costs of the Project.
The Agency previously held a second supplemental public hearing on April 7, 2021.

The Company has notified the Agency that due to the continued dramatic changes in the construction and materials markets caused by the COVID-19 Pandemic, the original project costs outlined in the Application, as amended, have increased over the estimated anticipated costs.  In connection with the increased costs, the Company has requested that the Agency consent to a third amendment to the Original Application (the “Third Amendment to Application”; and, together with the Original Application and the First Amendment to Application and the Second Amendment to Application, the “Application”), to reflect current costs of the Project.

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 policies (“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.

Due to COVID-19 protocols, all persons attending the Public Hearing will be required to wear face masks 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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Contact Us

  • One Independence Hill
    Farmingville, New York 11738

  • Tel: 631-451-6563
    Fax: 631-451-6925

  • Brookhaven IDA

  • www.brookhavenida.org