Public Hearing – Crescent Packing Corp.

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NOTICE OF PUBLIC HEARING
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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 20th day of November, 2024 at 8:00 a.m., local time, at Town Hall, 200 Sunrise Highway in Lindenhurst, New York 11757 in connection with the following matters:

Crescent Packing Corp. (the “Operating Company”), RJC Equities LLC (the “Central Avenue REHC”) and Liberator, Inc. (together with the Central Avenue REHC, the “Real Estate Holding Companies”), on behalf of themselves and/or entities formed or to be formed on behalf of the foregoing (including any related operating companies including but not limited to Crescent Specialty Foods LLC, Crescent Prime Cuts Ltd., Crescent Cold Storage LLC, LMC Foods LLC, Churak Leasing Company, Inc. and Inspired Technology Systems LLC (collectively, the “Related Companies”)), have presented an application to the Agency, a copy of which is on file at the office of the Agency, requesting that the Agency consider undertaking a project (the “Project”) consisting of the following:

(A)(1) the retention of the Agency’s interest in 1970 New Highway, Farmingdale (Tax Map #0100-2-1-11.006), in the Town of Babylon, Suffolk County, New York (the “New Highway Land”), the approximately 43,000 square foot building located thereon (the “2016 New Highway Facility”) and the various machinery and equipment acquired and installed therein and thereon (the “2016 New Highway Equipment”) (the New Highway Land, the 2016 New Highway Facility, and the 2016 New Highway Equipment, the “2016 New Highway Project Facility”); (2) the renovation of the 2016 New Highway Facility (the “2024 New Highway Improvements”), and the acquisition and installation therein and thereon of certain equipment and personal property (the “2024 New Highway Equipment”; and, together with the 2016 New Highway Project Facility and the 2024 New Highway Improvements, the “2024 New Highway Facility”), which 2024 New Highway Facility will be used by the Operating Company and its Related Companies as a cooking, storage and distribution facility and related uses for their businesses of meat preparation, storage and distribution to supermarkets; and

(B)(1) the retention of the Agency’s interest in approximately 1.84 acres of real estate located at 30 Central Avenue, Farmingdale (Tax Map #0100-4-1-18), in the Town of Babylon, Suffolk County, New York (the “Central Avenue Land”), the approximately 37,000 square foot building located thereon (the “2016 Central Avenue Facility”) and the various machinery and equipment acquired and installed therein and thereon (the “2016 Central Avenue Equipment”) (the Central Avenue Land, the 2016 Central Avenue Facility and the 2016 Central Avenue Equipment being collectively referred to as the “2016 Central Avenue Project Facility”); (2) the renovation of the 2016 Central Avenue Facility (the “2024 Central Avenue Improvements”), and the acquisition and installation therein and thereon of certain equipment and personal property not part of the 2024 Central Avenue Equipment (as such term is defined herein) (the “2024 Central Avenue Facility Equipment”; and, together with the 2016 Central Avenue Project Facility and the 2024 Central Avenue Improvements, the “2024 Central Avenue Company Facility”), which 2024 Central Avenue Company Facility is to be leased and subleased by the Agency to the Central Avenue REHC and further subleased by the Central Avenue REHC to the Operating Company; (3) the acquisition and installation of certain equipment and personal property (the “2024 Central Avenue Equipment” and, together with 2024 Central Avenue Company Facility, the “2024 Central Avenue Facility” and together with the 2024 New Highway Facility, the “2024 Facility”), which 2024 Central Avenue Facility will be used by the Operating Company and its Related Companies as a cooking, storage and distribution facility and related uses for their businesses of meat preparation, storage and distribution to supermarkets.

Liberator, Inc. will be the initial owner of the New Highway Land and the New Highway Land Improvements and Crescent Packing Corp. and its related operating companies (including but not limited to Crescent Specialty Foods LLC, Crescent Prime Cuts Ltd., Crescent Cold Storage LLC, LMC Foods LLC, Churack Leasing Co. and Inspired Technology Systems LLC) will be the initial operators of the 2024 New Highway Facility.

RJC Equities LLC will be the initial owner of the 2024 Central Avenue Company Facility and Crescent Packing Corp. and its related operating companies (including but not limited to Crescent Specialty Foods LLC, Crescent Prime Cuts Ltd., Crescent Cold Storage LLC, LMC Foods LLC, Churak Leasing Company, Inc. and Inspired Technology Systems LLC) will be the initial operators of the 2024 Central Avenue Facility.

In connection with the Project, the Agency will (A) lease the 2024 New Highway Facility from the Operating Company and will sublease the 2024 New Highway Facility back to the Operating Company; (C) lease the 2024 Central Avenue Company Facility from the Central Avenue REHC and will sublease the 2024 Central Avenue Company Facility back to the Central Avenue REHC; and (D) obtain an interest in the 2024 Central Avenue Equipment from the Operating Company and lease the 2024 Central Avenue Equipment back to the Operating Company.

The Agency contemplates that it will provide financial assistance to the Real Estate Holding Companies and the Operating Company (and its related operating companies) in the form of exemptions from sales and uses taxes, 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 Companies and the Operating Company (and its related operating companies) or the location or nature of the 2024 Facility.

Project Application: The Project Application together with a cost benefit analysis with respect to the 2024 Facility shall be available for inspection by the public at the office of the Agency at the above specified address during the regular business hours of the Agency. 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 2024 you will find the application for “Crescent Packing Corp.” 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.

Participation at the Hearing: Persons desiring to submit comments concerning the 2024 Facility and the financial assistance to be granted thereto should contact the Town of Babylon Industrial Development Agency, 47 West Main Street, Babylon, New York Attention: Thomas E. Dolan, Chief Executive Officer, at (631) 587-3679 on or before November 20, 2024, at the office of the Agency. Written comments can be submitted prior to the hearing at that address. The Agency reserves the right to limit the time available to any person presenting comments. 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: www.youtube.com/@babylonida3966.