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The Green Vale
TheTh The Green Vale School
The Green Vale School, a not-for-profit corporation organized and existing under the laws of the State of New York and an organization described in Section 501(c)(3) of the Code (the “Applicant”), has requested that the Issuer provide financial assistance for the Applicant in the form of, among other things, tax exempt revenue bonds in one or more series presently estimated to be in the approximate aggregate principal amount of $5,000,000 (the “Bonds”), the proceeds of which would be used to finance or refinance a portion of the costs of the acquisition, construction, renovation, furnishing and equipping by the Issuer of a project (the “Project”) consisting of: (A) (1) the acquisition of an interest in an approximately 38 acre parcel of property, or portions thereof, located at 250 Valentine’s Lane, Village of Old Brookville, Town of Oyster Bay, County of Nassau, New York (the “Land”), (2) the construction of an approximately 28,000 square foot building and related improvements, including an enlarged parking area, to serve as a multi purpose facility that provides (a) modern athletic and fitness space, (b) space for health and wellness programs, and (c) a large gathering space for all school and community events; (3) the renovation of the Applicant’s “Lower School” building, an existing approximately 9,360 square foot classroom building, to create six enlarged fourth and fifth grade classrooms and additional flexible space (4) within the Applicant’s existing “Iselin Center” building, the renovation of the existing music room, the renovation of the existing crafts room and the construction of a choral room; (5) the renovation of an existing approximately 576 square foot outdoor amphitheater; (6) the construction of a new baseball field (collectively, the “Building”) and (7) the acquisition and installation therein and thereon of certain machinery and equipment (the “Equipment”), all of the foregoing to constitute a not-for-profit, nursery through grade nine level educational facility (collectively, the “Facility”);The Facility would be initially owned, operated and/or maintained by the Applicant.
In addition to receiving financial assistance from the Issuer in the form of bond financing, the Applicant would receive financial assistance from the Issuer in the form of full or partial exemption from mortgage recording taxes and real property transfer taxes, if applicable (together with the bonds, collectively, the “Financial Assistance”).
Pall Corporation
Pall Corporation, a corporation organized and existing under the laws of the State of New York (the “Applicant”), presented an application (the “Application”) to the Agency, which Application requested that the Agency consider undertaking a project (the “Project”) consisting of the following: (A) (1) the acquisition of an interest in an approximately 16.3 acre parcel of land located at 25 Harbor Park Drive, Port Washington, Town of North Hempstead, County of Nassau, New York (collectively, the “Land”), (2) the renovation and expansion of an approximately 231,000 square foot building on the Land (collectively, the “Building”), together with related improvements to the Land, and (3) the acquisition and installation therein and thereon of certain furniture, fixtures, machinery and equipment (the “Equipment”), all of the foregoing for use by the Applicant as its corporate headquarters (collectively, the “Project Facility”); (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing; and (C) the lease (with an obligation to purchase) or sale of the Project Facility to the Applicant or such other entity as may be designated by the Applicant and agreed upon by the Agency
The Project would be initially owned, operated and/or managed by the Applicant or such other entities as may be designated by the Applicant and agreed upon by the Agency (the Applicant or such other entities, the “Company”).
The Company would receive financial assistance from the Agency in the form of potential exemptions or partial exemptions from sales and use taxes, mortgage recording taxes and real property taxes (but not including special assessments and ad valorem levies) (collectively, the “Financial Assistance”).
Kozy Shack Enterprises, Inc.
Kozy Shack Enterprises, Inc., a corporation organized and existing under the laws of the State of Delaware (“Kozy Shack”), on behalf of itself, 27 Ludy Street Realty LLC, a limited liability company organized and existing under the laws of the State of New York (“27 Ludy”), Ludy Street Realty Corp, a corporation organized and existing under the laws of the State of New York (“Ludy Street”) and VG Realty of New York, Inc., a corporation organized and existing under the laws of the State of New York (“VG Realty” and together with Kozy Shack, Ludy Street and 27 Ludy, collectively, the “Applicants”), presented an application for financial assistance (the “Application”) to the Agency, which Application requested that the Agency consider undertaking a project in one (1) or more phases (collectively, the “Project”) consisting of the following: (A) (1) the acquisition of an interest in an approximately 0.9 acre parcel of land located at 27 Ludy Street, Hicksville, Town of Oyster Bay, County of Nassau, New York (the “27 Ludy Parcel”), (2) the renovation of an existing building, together with related improvements, located on the 27 Ludy Parcel (collectively, the “27 Ludy Building”), and (3) the acquisition and installation therein and thereon of certain furniture, fixtures, machinery and equipment (the “27 Ludy Equipment”), all of the foregoing to constitute a warehouse facility (collectively, the “27 Ludy Project Facility”); (B) (1) the acquisition of an interest in an approximately 2.938 acre parcel of land located at 83 Ludy Street, Hicksville, Town of Oyster Bay, County of Nassau, New York (the “83 Ludy Parcel”), (2) the renovation of an existing approximately 40,000 square foot building, together with related improvements, located on the 83 Ludy Parcel (collectively, the “83 Ludy Building”), and (3) the acquisition and installation therein and thereon of certain furniture, fixtures, machinery and equipment (the “83 Ludy Equipment”), all of the foregoing to constitute the Applicants’ headquarters facility (collectively, the “83 Ludy Project Facility”); (C) (1) the acquisition of an interest in an approximately 8.87 acre parcel of land located at 40 and 50 Ludy Street, Hicksville, Town of Oyster Bay, County of Nassau, New York (the “50 Ludy Parcel”), (2) the renovation of an existing approximately 100,350 square foot building and construction of an approximately 30,000 square foot expansion thereto, together with related improvements, all located on the 50 Ludy Parcel (collectively, the “50 Ludy Building”), and (3) the acquisition and installation therein and thereon of certain furniture, fixtures, machinery and equipment (the “50 Ludy Equipment”), all of the foregoing to constitute a manufacturing facility (collectively, the “50 Ludy Project Facility” and together with the 27 Ludy Project Facility and the 83 Ludy Project Facility, the “Project Facility”); (D) the financing and/or refinancing of all or a portion of the costs of the foregoing by the issuance of taxable revenue bonds of the Agency in one or more series presently estimated to be in the approximate aggregate principal amount of $12,855,000 but not to exceed $14,000,000 (the “Bonds”); (E) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing; (F) the lease (with an obligation to purchase) or sale of the 27 Ludy Project Facility to 27 Ludy and the sublease of the 27 Ludy Project Facility by 27 Ludy to Kozy Shack; (G) the lease (with an obligation to purchase) or sale of the 83 Ludy Project Facility to Ludy Street and the sublease of the 83 Ludy Project Facility by Ludy Street to Kozy Shack; and (H) the lease (with an obligation to purchase) or sale of the 50 Ludy Project Facility to VG Realty and the sublease of the 50 Ludy Project Facility by VG Realty to Kozy Shack.
The Project Facility would be initially owned, operated and/or managed by the Applicants or such other entity(ies) as may be designated by the Applicants and agreed upon by the Agency (the Applicants or such other entity(ies), the “Company”).
In addition to the issuance of the Bonds, the Company would receive financial assistance from the Agency in the form of potential exemptions or partial exemptions from sales and use taxes, mortgage recording taxes and real property taxes (but not including special assessments and ad valorem levies) (together with the issuance of the Bonds, collectively, the “Financial Assistance”).
Cox & Company, Inc.
Cox & Company, Inc., a corporation organized and existing under the laws of the State of New York (“Cox & Co.”), on behalf of itself and Steel O, LLC, a limited liability company organized and existing under the laws of or qualified to do business in the State of New York (“Steel O” and together with Cox & Co. (the “Applicants”), presented an application for financial assistance (the “Application”) to the Agency, which Application requested that the Agency consider undertaking a project (the “Project”) consisting of the following: (A) (1) the acquisition of an interest in an approximately 5 acre parcel of land located at 301 Grumman Road West, Bethpage, Town of Oyster Bay, County of Nassau, New York (the “Land”), (2) the construction of a new 85,000 (rentable) square foot manufacturing building on the Land, together with related improvements (collectively, the “Building”), and (3) the acquisition and installation therein and thereon of certain furniture, fixtures, machinery and equipment (the “Equipment”), all of the foregoing to constitute a manufacturing facility for use by Cox & Co. as its sole manufacturing location for the production of de-icing equipment for the transportation and aerospace industry (collectively, the “Project Facility”); (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing; and (C) the lease (with an obligation to purchase), license or sale of the Project Facility to the Applicants or such other entity as may be designated by the Applicants and agreed upon by the Agency.
The Project would be initially owned, operated and/or managed by the Applicants or such other entity as may be designated by the Applicants and agreed upon by the Agency (the Applicants or such other entity, the “Company”).
The Company would receive financial assistance from the Agency in the form of potential exemptions or partial exemptions from sales and use taxes and real property taxes (but not including special assessments and ad valorem levies) (collectively, the “Financial Assistance”).
Q International Courier, Inc.
Q International Courier, Inc., d/b/a Quick International Courier, a corporation incorporated and existing under the laws of the State of New York (the “Applicant”), presented an application for financial assistance (the “Application”) to the Agency, which Application requested that the Agency consider undertaking a project (the “Project”) consisting of the following: (A) (1) the acquisition of an interest in a leasehold interest in approximately 70,000 Square feet of a 175,200 square foot building located at 200 Robbins Lane, Jericho, Town of Oyster Bay, County of Nassau, New York (the “Premises”), (2) the renovation of the Premises, and (3) the acquisition and installation therein and thereon of certain furniture, fixtures, machinery and equipment (the “Equipment”), all of the foregoing to constitute an office facility and warehouse space for use by the Applicant as its corporate headquarters and for uses ancillary thereto (collectively, the “Project Facility”); (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing, including potential exemptions or partial exemptions from sales and use taxes, and real property taxes (but not including special assessments and ad valorem levies) (the “Financial Assistance”); and (C) the lease (with an obligation to purchase), license or sale of the Agency’s interest in the Project Facility to the Applicant or such other entity(ies) as may be designated by the Applicant and agreed upon by the Agency.
The Project would be initially owned, operated and/or managed by the Applicant or such other entity as may be designated by the Applicant and agreed upon by the Agency (the Applicant or such other entity, the “Company”).
The Company would receive financial assistance from the Agency in the form of potential exemptions or partial exemptions from sales and use taxes and real property taxes (but not including special assessments and ad valorem levies) (collectively, the “Financial Assistance”).
Crest/Good Manufacturing Co.
WHEREAS, on or about October 5, 2007, Crest/Good Manufacturing Co., Inc. and Savoy Faucet Co. Inc, each a corporation organized and existing under the laws of the State of New York (collectively, the “Applicant”), presented an application (the “Application”) to the Agency, which Application requested that the Agency consider undertaking a project (the “Project”) consisting of the following: (A) (1) the acquisition of an interest in an approximately 2 acre parcel of land located at 100 Gordon Drive, Syosset, Town of Oyster Bay, County of Nassau, New York (collectively, the “Land”), (2) the construction of an approximately 36,000 square foot manufacturing, assembly, warehousing, and office building on the Land (collectively, the “Building”), together with related improvements to the Land, and (3) the acquisition and installation therein and thereon of certain furniture, fixtures, machinery and equipment (the “Equipment”), all of the foregoing for the use by the Applicant as its corporate headquarters (collectively, the “Project Facility”); (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing, including potential exemptions or partial exemptions from sales and use taxes, mortgage recording taxes and real property taxes (but not including special assessments and ad valorem levies) (the “Financial Assistance”); (C) the lease (with an obligation to purchase) license or sale of the Project Facility to the Applicant or such other entity as may be designated by the Applicant and agreed upon by the Agency; and (D) the sublease of the Project Facility to the Applicant or such other entity as may be designated by the Applicant and agreed upon by the Agency; and
WHEREAS, the Applicant represented in the Application that the Applicant intends to lease 7,500 square feet of the Project Facility to Dodds & Eder, Inc., an unaffiliated entity, to be used as warehouse space.
WHEREAS, in accordance with Section 859-a of the Act, no public hearing or notice contained in the Act relating to the Project is required because the aggregate Financial Assistance is less than $100,000; and
WHEREAS, pursuant to Article 8 of the Environmental Conservation Law, Chapter 43-B of the Consolidated Laws of New York, as amended (the “SEQR Act”), and the regulations (the “Regulations”) adopted pursuant thereto by the Department of Environmental Conservation of the State of New York (collectively with the SEQR Act, “SEQRA”), the appropriate personnel of the Agency reviewed the environmental assessment form and other materials submitted by the Applicant and made any necessary comments to members of the Agency, and by resolution of the members of the Agency adopted on the date hereof, the Agency decided to undertake an uncoordinated review of the Project, determined that the Project will not have a significant effect on the environment and issued a negative declaration for purposes of SEQRA; and
WHEREAS, although the Agency has taken certain preliminary steps with respect to portions of the Financial Assistance consisting of the granting of a real property tax exemption and mortgage recording tax exemption, no such exemption is being approved by this Resolution; and
WHEREAS, the Agency may at a later date agree to provide Financial Assistance in the form of exemptions from real property taxes (but not including special assessments and ad valorem levies) and mortgage recording tax; and
WHEREAS, the Agency now desires to make its determination to proceed with the Project and to grant the portion of the Financial Assistance consisting solely of an exemption from sales and use taxes, subject to the terms hereof; and
WHEREAS, the Applicant will (A) execute and deliver a certain Bill of Sale (the “Bill of Sale to Agency”) from the Applicant to the Agency, pursuant to which the Applicant will convey to the Agency its interest in the Equipment, (B) execute and deliver a certain Project Agreement (the “Project Agreement”) between the Agency and the Applicant, pursuant to which the Agency will grant to the Applicant an interest in the Equipment and the Applicant will undertake the Project, and (C) execute and deliver certain other certificates, documents, instruments and agreements related to the Project (together with the Bill of Sale to Agency and the Project Agreement, collectively, the “Transaction Documents”);
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