May 31st, 2018
HORNELL, NY – After the results of a Delineation study came back, the IDA got some great news Thursday afternoon after it was determined that there are no wetlands on the property recently sold to a developer out of Rochester just north of the Wegmans building in the Wal Mart plaza. According to IDA Director Jim Griffin, this will immediately clear a lot of hurdles and greatly speed up the process of developing the land.
Also, the Hornell Industrial Development Agency stopped just short of passing a resolution Thursday afternoon that would turn the deed to the building on 27 Bank Street over to the current occupant Amexstra. Before a final resolution is passed, the IDA would like to discuss and set employee hiring goals and include them into the contract.
The IDA has been discussing for a while about a deal that would turn the title of the building over to Amexstra in exchange for paying for their own building repairs in the future and meeting a hiring goal. Amexstra bought the building, appraised at 2.5 million, for $100,000 a few years back from the IDA with the contract stating they would pay $10,000 a year for 10 years. They are currently 5 years into that contract. If Amexstra meets their requirements, the deed to the building will be in their hands and the remaining $50,000 of the original lease will be forgiven.
IDA Director Jim Griffin added that the company is doing really well financially, having increased sales over the past few years by 50%. “They are the only company in the country that makes this unique wire spool,” said Griffin, “And we know they are going to expand, and we would like to keep them here.” He also added they could possibly double their employment numbers over the next few years from 5 to 10 plus.
In other news, it was determined that an asbestos survey needs to be done at the old Sunset restaurant before it is tore down. According to Griffin, a preliminary examination determined its presence in a number of areas and a complete examination needs to be performed before the demolition takes place. The survey will cost the IDA $12,300, and with the presence of asbestos, considerably raise the cost of tearing it down as the entire structure may have to be encapsulated.
And finally IDA consultant Shawn Hogan said that the application for the $10 million Downtown Revitalization Grant is completed and will be turned in Friday. He added that the city is also making plans on how to improve the city if the grant is awarded.