NOTICE OF PUBLIC HEARING

            Pursuant to Article 18-A of NYS General Municipal Law, the Erie County Industrial Development Agency (the “Agency”) will hold a public hearing on Tuesday, June 27, 2023, at 9:30 a.m., at the Agency’s offices, at 95 Perry Street, Suite 403, Buffalo, New York 14203 regarding the following matter:

130 Pearl LLC, and/or Individual(s) or Affiliate(s), Subsidiary(ies), or Entity(ies) formed or to be formed on its behalf (the “Company”), has submitted an application (the “Application”) to the Agency (a copy of which is on file at the office of the Agency) requesting the Agency to undertake a certain project (the “Project”) consisting of: (i) the acquisition by the Agency of a leasehold interest in certain property located on 132 Pearl Street, City of Buffalo, Erie County, New York, and all other lands in the City of Buffalo where, by license or easement or other agreement, the Company or its designees are making improvements that benefit the Project (the “Land”); (ii) the adaptive reuse on the Land of an approximately 21,000+/- square-foot 3-story former historic Underwood Building facility into 18 luxury apartments with a mix of studio, one-bedroom and two-bedroom units together with commercial/retail space occupying the remaining 3,200+/- square feet (the “Improvements”); and (iii) the acquisition by the Company in and around the Improvements of certain items of machinery, equipment and other tangible personal property (the “Equipment”; and, together with the Land and the Improvements, the “Facility”).  The Facility will be initially operated and/or managed by the Company.

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 leasehold interest will be terminated.  The Agency contemplates that it will provide financial assistance to the Company for qualifying portions of the Project in the form of sales and use tax exemption benefits and mortgage recording tax exemption benefits consistent with the policies of the Agency.

A representative of the Agency will be present at the above-stated time and place to present a copy of the Application and hear and accept written and oral comments from all persons with views in favor of or opposed to the proposed financial assistance.  This public hearing is being live-streamed and made accessible on the Agency’s website at www.ecidany.com.   Written comments may be submitted at this public hearing, submitted on the Agency’s website, or delivered to the Agency at 95 Perry Street-Suite 403, Buffalo, NY 14203 until the comment period closes at 4:00 p.m. on July 25, 2023.  The Project Application is available for public inspection at the Agency’s offices Monday through Friday (excluding public holidays) from 9:00 a.m. until 4:00 p.m.

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

Clikc here for a copy of the application (PDF) 

Click below for public comment