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.

Welch Administration Building, Westfield, New York

Redevelopment of the former Welch’s Building in Westfield is moving forward.

The Chautauqua County Industrial Development Agency said that 2 Portage LLC is now the owner of the historic structure and will begin the rehabilitation and adaptive reuse of the 51,000 square foot building.

2 Portage LLC received a $475,000 AL Tech Revolving Loan Fund through the IDA for the $18 million project.

Upon completion, the building will include 46 mixed-income residential units. In addition, there will be 3,700 square feet of commercial space located in original commercial space at the corner of Portage Road and Main Street. The commercial space will be targeted at a mix of tenants, including a food and beverage/retail operator in the street-level space, and other professional service office spaces on the ground floor.

The redevelopment of this building will provide needed housing in the Village, and street level retail, both of which will support the walkability and vitality of the Village.

Construction is expected to begin mid-2023 after final Historic Landmark status is approved by the National Parks Service. The property will be renovated and managed by Savarino Companies.

The project will create an estimated 70 construction jobs and three post-construction full-time equivalent jobs.

In addition to loan financing for building acquisition, the CCIDA Board of Directors also previously approved a Tax Lease/PILOT incentive agreement, which includes real property, sales, and mortgage recording tax abatements. The project also received $1.5 million in Restore New York funds from the state toward the historic rehabilitation and adaptive use of the building.

Chautauqua County Industrial Development Agency Board Meeting (April 26, 2022)

The Chautauqua County Industrial Development Agency board has approved a loan request to the company buying the former Welch’s Building in Westfield.

2 Portage LLC requested a $475,000 loan for the real estate acquisition. The Al Tech Revolving Loan fund loan has terms of 20 years at 4% interest. The project will be an adaptive reuse of the building with the total project cost of $11.5 million.

The IDA also approved a $90,000 loan to International Ordnance Technologies. The loan goes toward the repair a heat-treat furnace which had broken down. IOT manufactures machine gun links. The Jamestown Local Development Corporation approved a $90-thousand dollar loan for the same project at its meeting earlier this month.

A number of EDA (Economic Development Administration) CARES Act loan were approved by the IDA with the loans being used for working capital.

The businesses that had loan requests approved include:
– $41,000 for Merritt Estate Winery to buy juice to make wine for this season
– $125,000 for Artone Manufacturing LLC to assist with hiring and bringing on new employees
– $100,000 for Heritage Ministries to help with costs related to COVID test purchases and new equipment
– and $100,000 for Labyrinth Press Company to be used for hiring and training new employees.

IDA CEO Mark Geise informed the IDA board that in-person meetings will resume in May with meetings still being available over livestream on the IDA’s YouTube Page.

He also announced that in honor of the CCIDA’s 50th Anniversary that the IDA has bought out Diethrick Stadium for the June 30th Tarp Skunks‘ baseball game.