Hornell IDA Is Working To Sell Grey Manufacturing A Building On the ZY Tower Road

hogan and griffin
September 17,2015
HORNELL, NY – The Hornell IDA have passed a resolution to continue financial negotiations to, and prepare and file paperwork to sell Dave Grey of Grey Manufacturing,  the adjacent building next to them in the South Yards on the ZY Tower road.
The IDA currently owns the building.  Officials say that Alstom does not really need or use the building anymore and would like to get out of the financial burden.
Dave Grey said he would like to outright buy the building because he would like to upgrade and modify it for their specific uses. Grey said his business continues to expand doing 16 million in revenue last year, around 20 million this year and hopefully 30 million dollars next year. The company has a high need for storage space which will mostly what it will be used for.
The IDA also passed a resolution to lower the pilot at Lowes to $400,000 next year and the $300,000 the following year. Their original agreement on taxes is up next year. Griffin stated that they have been very good to work with and have no problems in paying their fare share of taxes.