Public Hearing Notice – Medford Gardens

10/12/23

Cover Letter
Application
Letter Amending Application
CBA
Economic & Fiscal Feasibility Study
Revised Application Suppliment
Statement of Qualifications Econ & Fiscal Impact 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 23rd day of October, 2023, at 11:00 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:

WellLife Network Inc., a not–for–profit corporation organized and existing under the laws of the State of New York, Medford Gardens, LLC, a limited liability company organized and existing, or to be organized and to exist, under the laws of the State of New York, and/or Medford Gardens Housing Development Fund Corp., a housing development fund corporation organized and existing under the laws of the State of New York, on behalf of themselves and/or equity investors of Medford Gardens, LLC and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the “Company”), have applied to the Agency for assistance in (a) the acquisition of an approximately 6.827 acre parcel of land (the “Land”) located on Horseblock Road approximately 700 feet northwesterly from the intersection of the westerly side of Eagle Avenue and the northerly side of Horseblock Road (SCTM #0200-700.00-01.00- 004.002), (b) the construction and equipping of an approximately 69,000 square foot three-story building consisting of 67 mixed income multifamily rental apartments (consisting of 10 studios and 56 one-bedroom units for individuals who are 55 years of age or older, including 33 units targeted for households needing supportive services with rents of 30% of income, 8 units targeted for households earning up to 40% of the area median income (“AMI”), 8 units targeted for households earning up to 50% of AMI, 17 units targeted for households earning up to 60% of the the AMI, and one two-bedroom unit dedicated to an on-site building manager), and site improvements and amenities, including an on-site sewage treatment plant, parking, walkways, and recreation areas (the “Improvements”), and (c) the acquisition and installation therein of certain equipment and personal property (the “Equipment”; together with the Land and the Improvements, the “Facility”), which Facility will be leased by the Agency to the Company to be used by the Company to provide mixed income, multifamily affordable age-restricted rental apartments. 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 from the Company. The Agency will sublease and lease 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 abatement of real property taxes, 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.

Dated: October 13, 2023
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

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