Hornell IDA Update

December 14th, 2017

HORNELL, NY – A resolution passed was in regards to Alstom’s plant 3 (old SKF building) in which the IDA still owns. They (the IDA) are looking to have a new lease approved which will allow Alstom a chance to get out after 8 years. The IDA had originally sought a 13 year lease.

Apparently Alstom was Leary of committing for 13 years, and an opt out clause was added to satisfy them. One major consolation the IDA had to make to get Alstom to stay in the plant was replacing the roof at a cost of $201,000, with that work already having been completed. Now with this new agreement, the IDA will reacquire the building after 8 years if Alstom decides to leave, but with the stipulation Alstom gives them a 2 year notice. Alstom would still have the option to stay longer if they wanted too, but if not, the IDA would then either find another tenant or move forward with the plans of turning the building into the railway’s Center of Excellence.

In other news, the new owners of the Hornell Plaza (Davis Companies) are very anxious to develop an adjacent parcel of land near the Wegmans building. “I talked with them yesterday, and they told me they have some really good stuff lined up for that property. I wanted to hire a crew to start clearing away trees and brush, and actually see what we have back there, but I was told if I did that I would probably go to jail,” laughed Griffin. Apparently, for and construction to proceed, the DEC must go over the area with a fine tooth and comb and conduct a Wetland Delineation study. In a move to get the process started, the IDA plans on up fronting the money for the study at a cost of $9,000, and hopefully have that study started by April.

And finally, it was the last appearance on the IDA Board of Directors for Shawn Hogan as Mayor, as he will be moving over a chair as a consultant starting next year. Mayor elect John Buckley was in attendance and will be taking Hogan’s seat as the city’s new Mayor. Also, Joe Foreman, having decided not to rerun for Alderman on the Common Council, will also be giving up his seat on the IDA board.