NOTICE OF PUBLIC HEARING

            Pursuant to Section 147(f) of the Internal Revenue Code of 1986, as amended (the "Code"), the Buffalo and Erie County Industrial Land Development Corporation (the "Issuer") will hold a public hearing on October 8, 2015, 2015 at 9:00 a.m. in the City of Buffalo at the Erie County Industrial Development Agency offices, 95 Perry Street, Suite 403, Buffalo, New York 14203, regarding the following matter:

            Buffalo Academy of Science Charter School, a charter school duly incorporated and existing under a charter approved by the Board of Regents of the University of the State of New York (the "Institution"), has requested the Issuer provide an exemption from mortgage recording tax and issue its tax-exempt Revenue Bonds, Series 2015 (the "2015 Bonds"), in an amount estimated to be approximately $3,400,000.  The 2015 Bonds will be used to: (a) acquire improved real property located at 180-190 Franklin Street, Buffalo, New York, 14202 to be used to operate a charter school for grades 7-12; and (b) to pay costs incidental to the issuance of the 2015 Bonds, including issuance costs of the 2015 Bonds and to fund a debt service reserve fund, if any, required with respect to the 2015 Bonds.

            It is expected that the interest on the 2015 Bonds will be excluded from gross income for federal income tax purposes pursuant to Section 145 of the Code.

            A representative of the Issuer will, at the above-stated time and place, hear and accept written comments from all persons with views in favor of or opposed to the issuance of the 2015 Bonds.  At said public hearing, interested parties will be provided reasonable opportunity to present their views, both orally and in writing, with respect to the issuance of the 2015 Bonds.

            Under the Code, approval of the issuance of the 2015 Bonds by the County Executive of Erie County is necessary in order for the interest on the 2015 Bonds to be excluded from the gross income for federal income tax purposes.

THE 2015 BONDS SHALL NOT BE A DEBT OF THE STATE OF NEW YORK OR ANY POLITICAL SUBDIVISION THEREOF, INCLUDING ERIE COUNTY, AND NEITHER THE STATE OF NEW YORK NOR ANY POLITICAL SUBDIVISION THEREOF, INCLUDING ERIE COUNTY, SHALL BE LIABLE THEREON. 

Click here for a copy of the application (PDF)

Click here for a copy of the transcript (PDF)

If you would like to submit a comment regarding the project, please use the form below.  Alternately, you mail also e-mail us directly at info@ecidany.com.  Comments will be accepted up until October 20, 2015 at 4:00 p.m.