GCEDC board approves assistance for two Downtown projects
The Genesee County Economic Development Center (GCEDC) Board of Directors approved various applications for assistance at the agency’s Feb. 6 board meeting. If the applications for incentives are approved, the projects would generate approximately $49 million in capital investment in Genesee County.
The Ellicott Station project, a $22 million mixed-use brownfield redevelopment project in Downtown Batavia, would receive $3.6 million in economic incentives, including a $2,105,792 property tax exemption, a $790,512 sales tax exemption, and a $180,792 mortgage tax exemption.
The developer, Savarino Companies, plans to construct 55 workforce apartments as part of an adaptive reuse of a former manufacturing facility on a brownfield site that would transform a major gateway to the city. The project is also seeking support from the New York State Office of Community Renewal.
Ellicott Place is a $3.1 million redevelopment of 45-47 Ellicott St. by V.J. Gautieri Constructors. The project includes the construction of 10 second-floor apartments at the existing facility, along with the development of first-floor storefronts and building-wide façade improvements. Ellicott Place would receive approximately $130,000 in economic incentives, including a $110,400 sales tax exemption and a $20,000 mortgage tax exemption.
Both projects support Genesee County’s EDGE economic development strategy for housing to support the growth of local businesses and were recognized as strategic projects in the Downtown Revitalization Initiative (DRI) announced by Governor Cuomo in 2018.
Mega Properties is proposing to invest approximately $3 million to build a 60,000-square-foot warehouse in the Town of Batavia at the Gateway II Corporate Park. It is the first phase for a project where the developer plans to triple the size of the facility in future phases.
Mega Properties would receive a PILOT -- Payment In Lieu Of Taxes -- valued at $400,497 as well as sales tax exemptions of $128,000 and a mortgage tax exemption of $30,000 for a total savings of $558,497.
Borrego Solar would receive incentives totaling $2.5 million for the construction of five community solar projects. Borrego Solar is investing approximately $21.6 million.
The five projects would generate a total of 26 megawatts* and approximately $2.4 million to local taxing jurisdictions, including the Elba, Pembroke, and Akron central school districts. Each project would also contribute $25,000 toward a community benefits agreement to support STEM* education and economic development initiatives.
Borrego’s projects are proposed at 3104 W. Main Street Road, 3232 W. Main Street Road and 5230 Batavia-Stafford Townline Road in the Town of Batavia and at 241 Knapp Road East and 241 Knapp Road West in the Town of Pembroke.
* A megawatt is a unit for measuring power that is equivalent to one million watts. One megawatt is equivalent to the energy produced by 10 automobile engines.
* STEM is an acronym for: Science, Technology, Engineering and Mathmatics.