Subsidy Alert: February 2011
Moisha’s Kosher Discount Supermarket, Inc., and ACA Quality Building Products, LLC
- To learn how the Board of Directors voted on these projects, see the agency "board books" here.
Public notice for February 3, 2011 NYCIDA public hearing
This month's subsidy alert features two projects from the New York City Industrial Development Agency (IDA) for proposed development projects in the Bronx and Brooklyn
Please take a moment to look over the project summaries below. We encourage anyone with concerns or comments about these proposals to participate in the hearing.
Also, thanks to improved transparency efforts at the IDA, public hearings and board meetings are now available as streaming audiocasts for three days following each meeting. Audiocasts are found on the IDA Public Hearing page of the EDC website.
Straight-lease transaction for the benefit of 325 Ave M, LLC, a real estate holding company on behalf of Moisha’s Kosher Discount Supermarket, Inc., d/b/a Moisha’s Discount Supermarket, in connection with the acquisition, renovation, demolition, construction, furnishing and/or equipping of (i) an approximately 18,000 square foot supermarket and (ii) approximately 18,000 square feet of ancillary parking, located on an approximately 36,000 square foot parcel of land located at 305-325 Avenue M, Brooklyn, New York 11230. The financial assistance proposed to be conferred by the Agency will consist of payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes, and exemption from City and State sales and use taxes.
Bronx
Straight lease (Industrial Incentive Program) transaction for the benefit of a to-beformed entity on behalf of ACA Quality Building Products, LLC, a building supply manufacturer, in connection with the acquisition, renovation, equipping and/or furnishing of an approximately 75,100 square foot facility located on an approximately 58,000 square foot parcel of land located at 850 East 138th Street, Bronx, NY 10454. The financial assistance proposed to be conferred by the Agency will consist of payments in lieu of City real property taxes, exemption from City and State mortgage recording taxes and exemption from City and State sales and use taxes.
Monthly Subsidy Alert
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Fresh Perspectives on Fresh Direct
GJNY takes a close look at the proposed subsidy package--worth nearly $130 million--for Fresh Direct to relocate to the South Bronx. In early 2012, Fresh Direct started a bidding war between New York City and New Jersey officials when it threatened to leave its current home in Long Island City, Queens. Learn more about the subsidies, job promises and the efforts of residents to block the on-line grocery retailer's move to their waterfront.
Keeping an eye on Hurricane Sandy recovery money
As government aid begins to flow into areas devastated by Hurricane Sandy, Good Jobs New York will provide analysis and recommendations regarding these resources that promote a transparent and equitable allocation of funds that go to individuals and businesses that need it most.
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