Second Notice of Public Hearing- Sun River Town Homes

11/03/21

Additional Documents
CBA
Sun River Letter

NOTICE OF 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 11:00 a.m. local time, 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:

The Agency has previously provided its assistance to Sun River Town Homes LLC, a limited liability company organized and existing under the laws of the State of New York (the “Company”) in connection with (A) the acquisition of multiple parcels totaling approximately 27.0 acres of land located North of Sunrise Highway between Jerusalem Hollow Road and Moriches-Middle Island Road, Manorville New York (the “Land”), (B) the construction, equipping and furnishing of approximately 198,399 square feet of residential space across multiple buildings which will provide for one-hundred twenty-five (125) apartment units (described as approximately thirty-three (33) 3-Bedroom Townhouse units, approximately twelve (12) 2-Bedroom Ranch units, approximately Forty (40) 3-Bedroom Upper Flat units and approximately Forty (40) 2-Bedroom Lower Flat units, at least 10% of the units will be Affordable units at 80% of Area Median Income (“AMI”) and at least 10% of the units will be Workforce units at 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, including shared common areas and other amenities and the furnishing thereof including, but not limited to, furniture, appliances, structures, equipment and personal property in the units (the “Equipment”; and, together with the Land and the Improvements, the “Facility”), the residents of the Facility will have access to all amenities inside Villas @ Pine Hills an existing community including a pool and outdoor recreation space, which Facility is subleased by the Agency to the Company and known as and used by the Company to provide housing for the residents of Manorville and Long Island (the “Project”).  The Facility will be initially owned and managed or operated by the Company.

The Agency acquired a leasehold interest in the Land and the Improvements pursuant to a Company Lease Agreement, dated as of October 1, 2021 (the “Company Lease”), between the Company and the Agency, and title to the Equipment pursuant to a Bill of Sale, dated the closing date (the “Bill of Sale”), from the Company to the Agency.  The Agency presently subleases and leases the Facility to the Company pursuant to a Lease and Project Agreement, dated as of October 1, 2021 (the “Lease Agreement”), between the Agency and the Company.

Subsequent to the entering into the Company Lease and the Lease Agreement, the 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 for Financial Assistance dated, November 19, 2020 (the “Original Application”) are out-of-date and significantly lower than the currently anticipated costs.  In connection with the increased costs, the Company has requested that the Agency consent to an increase in exemptions from sales and use taxes in connection with the construction and equipping of the Facility.

The Agency contemplates that it will provide financial assistance to the Company in the form of exemptions from sales and use taxes in connection with the construction and equipping of the Facility 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 the proposed financial assistance to the Company.  Prior to the hearing, all persons will have the opportunity to review on the Agency’s website (https://brookhavenida.org/), the amendment to application for financial assistance filed by the Company with the Agency and an analysis of the costs and benefits of the proposed increase of sales and use taxes in connection with the construction and equipping of the 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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