Steet/Ponte Public Hearing Notice 2/14/2012
Wednesday, February 1st, 2012
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 Herkimer County Industrial Development Agency (the "Agency") on the 14th day of February 2012, at 10:00 a.m., local time at the Town of Herkimer Office 114 N. Prospect Street, Town of Herkimer, Herkimer County, New York, in connection with the following matter:
Steet/Ponte Chevrolet, Inc., a New York business corporation (the "Company") has requested that the Agency assist in the financing of the purchase, renovation, construction and equipping of its existing facility (the "Facility"), at 3036 State Route 28, Town of Herkimer, Herkimer County. The Facility will be operated by Steet/Ponte Chevrolet, Inc., and will retain/make available new automobile sales and services, which are not otherwise available throughout Herkimer County.
The Agency will acquire leasehold interest in the Facility and then lease it back to the Company. At the end of the term of the leases, the Company will purchase the Facility from the Agency. The Agency contemplates that it will provide financial assistance to the Company in the form of exemption from sales and use taxes related to the renovation, construction and equipping of the Facility, mortgage recording taxes related to the financing of the Facility, and abatement of certain real property taxes relating to the increased assessment resulting from the Project. A payment in lieu of taxes (PILOT) agreement will be arranged with regards to real property taxes consistent with the Agency's policies.
A representative of the Agency will be at the above-stated time and place to review the project application, and hear comments and accept written statements from any 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.
HERKIMER COUNTY INDUSTRIAL DEVELOPMENT AGENCY
Date: February 2, 2012 By____________________________
Name: Lillian A. Oram
Title: Assistant Secretary
Link to signed document: http://herkimercountyida.com/qdynamo/download.php?docid=585
