Former Truck-Lite facility in Falconer
The former Truck-lite facility in Falconer is being sold to The Krog Group.
The Chautauqua County Industrial Development Agency Board approved a $900,000 Al Tech Loan, mortgage tax abatement, and sales tax abatement. The total project cost is $3,655,000.
IDA Business Development Manager Carol Rasmussen said Peter Krog plans to purchase and lease out the 160,000 square foot facility for office and manufacturing space. He will be doing some renovation work as well.
The IDA board also approved an updated payment-in-lieu-of-taxes (PILOT) agreement for the Welch’s Building project in Westfield.
Chief Financial Officer Rich Dixon said 2 Portage LLC previously had been approved for a 15-year PILOT by the IDA, “The developer was talking with his investors and with people who were making him the loan. They were hoping they could get more certainty as to what the tax payments would be after year 15. They originally came to us and talked about maybe a 30-year, 25-year (PILOT). We ended up with a compromise that I think is very fair.”
Dixon said the agreement is for a 20-year PILOT that has the same terms for years 0 through 15 as the current PILOT and then years 16 through 20 are at 100% tax at a fixed rate.
The Welch’s Building project previously received a $475,000 AL Tech Loan Fund as well as $1.5 million in Restore New York funds for the $18 million project.
Dixon said there is no change to the project other than the change to the PILOT.
The IDA Board also approved an Al Tech loan of $100,000 for BP Endeavors LLC to purchase Wildwood Acres Campground on Brown Road in Bemus Point. The total project cost is $668,000.
Rasmussen said the current owner, who has ran the campground for 21 years, is selling the property due to illness. The new owners plan to open up 20 to 30 new sites on the ground for rent.
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