Public Hearing – D’Addario & Company, Inc.
Tuesday, March 19, 2024 | 1:30 PM - 1:45 PM
Description:
NOTICE OF PUBLIC HEARING
NOTICE is hereby given pursuant to Article 18-A of the General Municipal Law of the State of New York (the “Act”), that the Town of Babylon Industrial Development Agency (the “Agency”), will hold a public hearing on the proposed granting of financial assistance to D’Addario & Company, Inc. (“D’Addario Inc.”), and the following related entities with respect to the following facilities at the following locations all in Farmingdale, New York: (i) Rico Corporation (“Rico”), with respect to the acquisition, renovation and equipping of an approximately 46,025 square foot manufacturing, warehouse and distribution facility located at 540 Smith Street (the “Rico Facility”); (ii) D’Addario Reality Company (“D’Addario Realty”), with respect to certain renovations and equipment expenditures to be undertaken at a 107,462 square foot manufacturing facility located at 595 Smith Street (the “D’Addario Realty Facility”); (iii) NYXL Realty, LLC (“NYXL”), with respect to the renovation and equipping of (A) an approximately 21,895 square foot manufacturing, warehouse and distribution facility located at 525 Smith Street and (B) an approximately 18,892 square foot manufacturing, warehouse and distribution facility located at 535 Smith Street (collectively the “NYXL Facility”); (iv) D’Addario Inc. with respect to a renovation, equipping and construction of an approximately 14,700 square foot addition to a manufacturing, warehouse, distribution and printing facility located at 590 Smith Street, (the “D’Addario Inc. Facility”); and XPND Realty Company LLC (“XPND” and together with Rico, D’Addario Realty, NYXL, D’Addario Inc., collectively the “Owners”), with respect to the renovation and equipping of a an approximately 21,907 square foot manufacturing, warehouse and distribution facility located at 160 Finn Court (the “XPND Facility” and together with the Rico Facility, the D’Addario Realty Facility, the NYXL Facility and the D’Addario Inc. Facility, collectively, the “Facility”), all for use by the D’Addario Inc. in its business as a manufacturer of musical instrument accessories; strings for musical instruments, drumsticks, drumheads, reeds and mouthpieces for clarinets and saxophones as well as other accessory products.
Pursuant to applicable State Law, the Agency proposes to grant certain financial assistance with respect to the Facility including certain exemptions from New York State and local sales and use taxation, local real property taxation and mortgage recording taxation as shall be determined by the Agency. Pursuant to the Act, the Facility, which is to be owned by the Owner, shall be transferred or leased to the Agency and leased or subleased to the Owner and subleased and operated by the D’Addario Inc.
Company: D’Addario & Company, Inc., 595 Smith Street, Farmingdale, New York 11735.
Owners: Rico, D’Addario Realty, NYXL, the D’Addario Inc. and XPND, 595 Smith Street, Farmingdale, New York 11735.
Facility Proposed Locations are: 540, 595, 525 & 535, and 590 Smith Street, and 160 Finn Court in Farmingdale, New York 11735.
Public Hearing: All persons, organizations, corporations or governmental agencies are invited to submit comments concerning the granting of financial assistance. The hearing will be held on March 19, 2024 at 1:30 P.M. at the Old Town Hall 47 West Main Street in Babylon, New York.
Project Application: The Project Application together with a costs benefit analysis with respect to the 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 https://babylonida.org/documents. Click on the search bar and enter into the search bar “D’Addario & Company, Inc.” and you will find the application for “D’Addario & Company, Inc.” for the year 2024. 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/news-events at on or about 12:00 P.M. of the day prior the hearing.
Participation at the Hearing: Persons desiring to submit comments concerning the 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 11702; Attention: Thomas E. Dolan, Chief Executive Officer, at (631) 587-3679 on or before March 18, 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 IDA’s website at www.babylonida.org/documents. The second item under the heading titled “Documents”, 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: