Subsidy Alert: May 2011
Hudson Moving & Storage Co., Inc., Saja Food Corp., National Environmental Safety Company, Inc., Pain D’Avignon III, Ltd., Kingdom Castle Food Corp., Royal Seafood Baza, Inc
To learn how the Board of Directors voted on these projects, see the agency "board books" here.
Public notice for May 5, 2011 NYCIDA public hearing.
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 May 2011 hearing.
Straight lease (Industrial Incentive Program) transaction for a to-be-formed entity for the benefit of Hudson Moving & Storage Co., Inc., a New York corporation engaged in specialized moving and storage, in connection with the acquisition, renovation, equipping and/or furnishing of an approximately 25,000 square foot facility located on an approximately 13,000 square foot parcel of land located at 659-665 West 158th Street, New York, NY 10032. 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.
Straight lease (Industrial Incentive Program) transaction for the benefit of a to-be-formed entity on behalf of Saja Food Corp., a supermarket operator, in connection with the acquisition, construction, renovation, equipping and/or furnishing of an approximately 8,200 square foot commercial condominium unit (with approximately 8,000 square feet of basement space) constituting a part of an approximately 58,000 square foot building located on an approximately 10,000 square foot parcel of land located at 1635 Lexington Avenue, New York, NY 10029. 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.
Queens
Straight lease (Industrial Incentive Program) transaction for a to-be-formed entity for the benefit of National Environmental Safety Company, Inc., a fabricator, installer and servicer of environmental products, in connection with the acquisition, renovation, equipping and/or furnishing of an approximately 16,000 square foot building located on an approximately 22,000 square foot parcel of land located at 88-57 76th Avenue, Queens, NY 11385. 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.
Straight lease (Industrial Incentive Program) transaction for the benefit of a to-be-formed entity on behalf of Pain D’Avignon III, Ltd., a bread manufacturer and distributor, in connection with the renovation, equipping and/or furnishing of an approximately 10,000 square foot facility located on an approximately 10,100 square foot parcel of land located at 35-20 9th Street, Queens, NY 11106. 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.
Staten Island
Straight lease (Industrial Incentive Program) transaction for the benefit of a to-be-formed entity on behalf of Kingdom Castle Food Corp., a supermarket, in connection with the acquisition, construction, renovation, equipping and/or furnishing of an approximately 10,000 square foot facility located on an approximately 14,000 square foot parcel of land located at 300 Sand Lane, Staten Island, NY 10305; in connection with the acquisition and improvement of an approximately 4,000 square foot parcel of land located at 300 Sand Lane, Staten Island, NY 10305; and in connection with the acquisition and improvement of an approximately 11,000 square foot parcel of land located at 31 Lansing Street, Staten Island, NY 10305. 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.
Straight lease (Industrial Incentive Program) transaction for the benefit of a to-be-formed entity on behalf of Royal Seafood Baza, Inc., an ethnic food manufacturer and distributor, in connection with the acquisition, renovation, equipping and/or furnishing of an approximately 33,000 square foot facility located on an approximately 58,000 square foot parcel of land located at 175 Lake Avenue, Staten Island, NY 10303; and in connection with the acquisition, renovation, equipping and/or furnishing of an approximately 18,000 square foot facility located on a portion of an approximately 400,000 square foot parcel of land located at 125 Lake Avenue, Staten Island, NY 10303. 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.
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