NIAGARA COUNTY INDUSTRIAL DEVELOPMENT AGENCY

NOTICE OF PUBLIC HEARING

            NOTICE IS HEREBY GIVEN that a public hearing pursuant to Article 18-A of the New York General Municipal Law will be held by the Niagara County Industrial Development Agency (the "Agency") on the 26th day of October, 2023, at 2:00 p.m., local time, at the North Tonawanda City Hall, 216 Payne Avenue, North Tonawanda,  New York 14120, in connection with the following matter:

CITYSCAPE PROPERTY MANAGEMENT INC., and/or an individual(s) or affiliate, subsidiary, or entity or entities formed or to be formed on its behalf (the "Company"), has submitted an application to the Agency, a copy of which is on file at the office of the Agency, requesting that the Agency consider undertaking a project (the "Project") consisting of: (A) the acquisition by the Agency of a leasehold interest in vacant land located at 1304-1310 Payne Avenue & 325 Stenzil Street in the City of North Tonawanda, Niagara County, New York (the "Land"); (B) the construction of a two (2) market rate housing buildings with an aggregate total of approximately 20,800 square feet, each building comprised of eight (8) residential units with driveways and attached garages for parking (the “Improvements”); and (C) the acquisition and installation in and around the Improvements of certain items of machinery, equipment and other tangible personal property (the "Equipment" and collectively with the Land and the Improvements, the "Facility"); and

The Agency will acquire a leasehold interest in, the Facility and lease the Facility back to the Company.  The Company will operate the Facility during the term of the lease.  At the end of the lease term, the Company will purchase the Facility from the Agency, or if the Agency holds a leasehold interest, the leasehold interest will be terminated.  The Agency contemplates that it will provide financial assistance (the "Financial Assistance") to the Company in the form of sales and use tax exemptions and a mortgage tax exemption consistent with the policies of the Agency, and a partial real property tax abatement.

A representative of the Agency 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 or otherwise relevant to the proposed Financial Assistance.

This public hearing is being conducted in accordance with Subdivision 2 of Section 859-a of the New York General Municipal Law.

DATED:  October 11, 2023

                                                                                    NIAGARA COUNTY INDUSTRIAL

                                                                                       DEVELOPMENT AGENCY

                                                                                    By:      Susan C. Langdon

                                                                                                Executive Director