Hornell’s IDA Looking to Purchase TriKeenan Tileworks Building

March 15th, 2018

HORNELL, NY – The IDA is looking to purchase the debt and mortgage from Steuben Trust Company for the Trikeenan Tile plant near Shawmut Park for $400,000. That would give it complete control of the building and they can work out deals with the current or new tenants in the future. They would then have the power to lease or sell the building however they see fit. IDA Director Jim Griffin said he would be willing to set up a deal with the current tenants if they are willing to stay. Trikeenan Tileworks has already been through two bankruptcies. The plant currently employs about 20 people and it’s the IDA’s hope is to save those jobs.

The IDA is still looking to sell small parcels of land it owns that are scattered throughout the city. In particular, there ia a small parcels left over that the Riedman Corporation did not want when developing the Fairlawn Apartments. Neighbor Dave Justo has agreed to purchase the roughly 1/2 acre to use as a buffer for his apartments. The land is on a grade and wooded and is unfit for development and he assured the IDA he has no plans to develop it. Another parcel is at the end of Washington Street near the ball field and the Housing Authority is interested in that.

The IDA finally got everything signed between Alstom and Norfolk & Southern on a leased parcel of land in the South Yards near the old Sunset restaurant. Consent for a sub-lease was needed to transfer all the conditions on the current lease from the IDA to Alstom. This removes responsibility and obligations on the property from the IDA and transfers them to Alstom. The IDA initially had to get consent from Norfolk & Southern to lease the property.

And finally the apartments on Prindle Ave that went back on the tax rolls January 1st may be going back to the original owner. IDA Director Jim Griffin has met with the former owner and he has expressed he would like to pay up his back taxes and debt and retake possession. The former owner says he still has hopes to renovate the 2nd of the two adjacent buildings.