The proposed project consists of the renovation and adaptive reuse of the property located at 467 Richmond Avenue which is the former Richmond Methodist Episcopal Church.  The church is a historical structure and was constructed in the late 1800's. The facility which consists of 36,000 sq. ft. will be a campus for the utilization by performing arts groups and will include corporate and business meeting space and a recording studio.

REVPAC currently has 3 employees that will be located at the facility and the plan is to hire one additional employee.

In addition to the performing arts venue, the company plans to construct several market rate apartments on an adjacent property which will serve to create a revenue stream to cover the expenses of the campus.  ECIDA sales tax and mortgage tax benefits will  be limited solely to the renovation of the church, and the corporate and business meeting space.  No benefits will be provided to the new housing component.

· 5/31/2017 - Public hearing held. Transcript attached

· 6/28/2017 - Inducement Resolution presented to Board of Directors adopting a Negative Declaration in accordance with SEQRA.

· 6/28/2017 - Lease/Leaseback Inducement Resolution presented to the Board of Directors

· 10/23/2018 - Public Hearing held. No oral or written comments

· 11/28/2018 - Amendatory Inducement Resolution presented to the Board of Directors.