Public Hearing Notice Bellport Residences - (Meeting Will Be Livestreamed)

03/10/20

NOTICE OF SUPPLEMENTAL PUBLIC HEARING

NOTICE IS HEREBY GIVEN that a supplemental 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 13th day of March, 2020, at 10:00 a.m. local time, at the Town of Brookhaven Division of Economic Development, 2nd Floor, One Independence Hill, Farmingville, New York 11738, in connection with the following matters, New York in connection with the following matters:

Bellport Residences, 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 Bellport Residences, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Company”), has submitted to the Agency its application for financial assistance (the “Application”), to enter into a transaction in which the Agency will assist in the acquisition of an approximately 7.09 acre parcel of land located at Atlantic Avenue, Bellport New York (approximately 234 feet west of Post Avenue) (the “Land”), and (i) the construction of eight (8) two-story buildings totaling approximately 64,000 square feet to be located thereon and containing approximately seventy (70) units (including 1 unit to be a superintendent unit) of multi-family housing (1, 2 and 3 bedroom apartments), (ii) the construction of an approximately 1,500 square foot community center, and (iii) the construction of a sewage treatment facility (collectively, the “Improvements”) and the installation and furnishing of the Improvements including, but not limited to, a sprinkler system, HVAC, electrical equipment, plumbing, and elevators parking, drainage, landscaping and associated site improvements (collectively, the “Equipment”; and, together with the Land and the Improvements, the “Facility”), all to be leased by the Agency to, and used by the Company as 100% affordable workforce housing and community space to be known as Gleneagle Green at Bellport (the “Project”). The Facility will be initially owned, operated and/or managed by the Company.
The Agency previously held a public hearing in connection with the Facility on August 20, 2019.

The Agency will acquire a leasehold interest in the Land and the 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, and exemptions from sales and use taxes and abatement of real property taxes on the Facility, 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 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 a revised analysis of the costs and benefits of the proposed Facility.

Dated: March 2, 2020 TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

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