Auburn Industrial Development Authority
Public Hearing Notice
February 28, 2017
Memorial City Hall
24 South Street
Auburn, NY 13021
NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 2307 of the New York Public Authorities Law will be held by the Auburn Industrial Development Authority (the "Authority") on the 28th day of February, 2017 at 4:00 p.m. at Auburn Memorial City Hall, Council Chambers, 24 South Street, Auburn, New York 13021, in connection with the following matter:
AUBURN HOTEL VENTURES LLC (the "Company") has requested the Authority's assistance with a certain project (the "Project") consisting of: (i) the acquisition of 1 parcel of land located at 75 North Street (Tax Map No. 116.37-1-39.11) in the City of Auburn, New York totaling approximately 5.08 acres (the "Land") improved by 1 building totaling approximately 226,500 square feet (the "Building"); (ii) the renovation of the Building by the Company for use as lodging and conference space (the "Improvements"); and (iii) the acquisition and installation in and around the Building by the Company of certain items of machinery, equipment, and other tangible personal property (the "Equipment" and, together with the Land, the Building and the
Improvements, the "Project Facility").
The Authority will acquire title to, or a leasehold interest in, the Project Facility and lease the Project Facility back to the Company. The Company will operate the Project Facility during the term of the lease. At the end of the lease term, the Company will purchase the Project Facility from the Authority, or if the Authority holds a leasehold interest, the leasehold interest will be terminated. The Authority contemplates that it will provide financial assistance to the Company in the form of sales and use tax exemptions, and mortgage recording tax exemption with respect to the Project Facility.
A representative of the Authority will be at the above-stated time and place to present a copy of the Company’s project application and hear and accept written and oral comments from all persons with views in favor of or opposed to the proposed financial assistance.
Dated: February 16, 2017
AUBURN INDUSTRIAL DEVELOPMENT AUTHORITY