Public Hearing - 3G Warehouse, Inc.
NOTICE OF PUBLIC HEARING
Notice is hereby given that a public hearing pursuant to Section 859-a(2) of the General Municipal Law of the State of New York (the “Act”), will be held by the Town of Babylon Industrial Development Agency (the “Agency”), on the 13th day of July, 2021 at 9:00 a.m., local time, at the office of the Agency located at 47 West Main Street, Babylon, New York in connection with the following matters:
3G Warehouse, Inc. (the “Operating Company”) and 56 Nichols, LLC (the “Real Estate Holding Company”), on behalf of themselves and/or entities formed or to be formed on behalf of the foregoing, have presented an application to the Agency, copies of which are on file at the office of the Agency, requesting that the Agency consider undertaking a project (the “Project”) consisting of the following: (1) the acquisition of an interest in approximately 5.7 acres of real estate located at 565 Broadhollow Road, Farmingdale (Tax Map #0100-094.00-02.00-002.003) in the Town of Babylon, Suffolk County, New York (the “Land”), the renovation of an existing approximately 120,000 square foot building located on the Land (the “Improvements”) and the acquisition and installation therein and thereon of certain equipment and personal property not part of the Equipment (as such term is defined herein) (the “Facility Equipment”; and, together with the Land and the Improvements, the “Company Facility”), which Company Facility is to be leased and subleased by the Agency to the Real Estate Holding Company and of which Company Facility (i) approximately 100,000 square feet will be further subleased by the Real Estate Holding Company to the Operating Company (together with the hereinafter defined Equipment, the “3G Warehouse Facility”) and the Operating Company will acquire and install certain equipment and personal property therein (the “Equipment”), which 3G Warehouse Facility will be used by the Operating Company as warehousing and distribution facility for its e-commerce business and related uses; and (ii) the remaining approximately 20,000 square feet will be available to the Operating Company for future expansion and/or for lease to third-party tenants (the “Expansion Facility” and, collectively with the Company Facility and the 3G Warehouse Facility, the “Facility”).
The Real Estate Holding Company will be the initial owner of the Company Facility and the Operating Company will be the initial operator of the 3G Warehouse Facility.
In connection with the Project, the Agency will (A) lease the Company Facility from the Real Estate Holding Company and will sublease the Company Facility back to the Real Estate Holding Company; and (B) obtain an interest in the Equipment from the Operating Company and lease the Equipment back to the Operating Company. The Agency contemplates that it will provide financial assistance to the Real Estate Holding Company and the Operating Company in the form of exemptions from sales and uses taxes, mortgage recording taxes, if a mortgage is required, transfer taxes and abatements of real property taxes consistent with the policies of the Agency. A representative of the Agency will at the above-stated time and place to hear and accept written comments from all persons with views in favor of or opposed to either the proposed financial assistance to the Real Estate Holding Company and the Operating Company or the location or nature of the Facility.
If you do not want to participate in the hearing, but would like to watch or listen to the proceeding, you may view a livestream of the meeting. Interested parties may view a livestream of the meeting online on the Town of Babylon IDA’s YouTube channel. To access the YouTube channel go to the Town of Babylon IDA’s website at www.babylonida.org/documents. The second item on the documents page is titled “Meeting Videos and Livestream”, click this tab and follow the link provided. If you would like to access the IDA YouTube page directly from your browser you may insert the following World Wide Web address: (https://www.youtube.com/channel/UCqq5ixdV_-nmsmvSOsD4KnA).
For those members of the public desiring to review project applications and cost benefit analyses before the date of the hearing, copies of these materials will be made available at www.babylonida.org/documents. Click on the tab titled “Project Applications.” Under the year 2021 you will find the application for “3G Warehouse, Inc.” Be advised that it is possible that certain of the aforementioned proposed transactions may be removed from the hearing agenda prior to the hearing date. Information regarding such removals will be available on the Agency’s website www.babylonida.org/calendar at on or about 12:00 P.M. of the day prior to the hearing.