Hornell IDA Ends Year on a Busy Note

December 20th, 2018

HORNELL, NY – After a presentation by IDA consultant Shawn Hogan, the IDA unanimously decided to sell 4.4 acres of land to developer Park Grove Realty to develop a 60 unit apartment complex. The 6 building complex will also include a Community Center, and will consist of 24 one bedroom, 24 two bedroom, and 12 three bedroom apartments. “The key here is affordable housing,” said the former Mayor, “And Hornell can always use that.” If all funding is approved and a green light is given, ground could break as early as late summer or early fall of next year. Park Grove plans to invest as much as $11 million into the project.

The IDA also will be pushing back a purchase agreement date with Park Gove on 18 North Main Street (old Marion Rohr building) from December 2018 to April 15th, 2019 to allow them more time to solicit grants and funding on the $6 million apartment rehab planned there.

The closing date for the purchase of the old Trikeenan plant to Strobels has been pushed back to April 31st, 2019 from October of this year. IDA Director Jim Griffin said the reasoning behind this move is to allow more time to remove the massive amount of equipment left behind by Trikeenan and to make sure all previous debts occurred are paid. Consultant Shawn Hogan was very pleased to announce that the IDA has secured a $200,000 grant for Strobels to purchase new equipment. According to Hogan, Strobels plans on investing a total of over $500,000 on upgrades.

The Basset group who is currently developing apartments on the old Airport Road has asked for an extension on their sales tax exemption from December 31st, 2018 to June 30th, 2019. According to Griffin, they still have 3 more buildings to complete and this is normal protocol in a situation like this.

In new business the IDA ratified emergency expenditures on their property at 103-113 Main Street in the city. On the advice of their insurance company, a new roof will be added at a cost of $25,500, and a new electrical service will be hooked up for $5,688. Griffin stated that the whole building will eventually have to be renovated and he already has bites from two contractors.

And finally TTA has changed their plans from upgrading their facility to now going with a whole new building for their upgrading plans. They will now receive a PILOT on the 7,000 sq ft addition and their previous agreement for the most part will be scrapped.