<< Back to Current Projects

Project Name

Time Release Properties, LLC/Time Release Sciences, Inc.

Address

2303 Hamburg Turnpike
lackawanna
New York
14218

Public Hearing Transcript

Project Details

Erie County has spent and appropriated for future expenditures, millions of dollars to improve rail and road access and utility infrastructure at the project site with the goal of creating one of the largest commercial/ industrial parks, with tri-modal access and with pre-certified New York State tax incentives. 

The proposed project consists of the construction of an approximately 290,000 sq. ft. manufacturing facility at the former Bethlehem Steel site in the City of Lackawanna.  The company currently operates out of  a 120,000 sq. ft. facility located in the City of Buffalo at 205 Dingens Street and due to space constraints is unable to expand at its current location.

Since the project involves movement of a company from the City of Buffalo to the City of Lackawanna, the ECIDA will follow its Inter-Municipal Move Policy.  The City of Buffalo has been notified of the relocation.

In addition to the construction of the facility, TRS will also be investing $6 million in new production equipment. 

Due to the ability of the Company to obtain Brownfield Cleanup Property Tax Credits for payments made under the PILOT on Parcel II-10, the ECIDA will be deviating from its Uniform Tax Exemption Policy and provide the company with a custom PILOT for the project.

Notice letters detailing the deviation from the UTEP were mailed to the chief executive officers of each affected tax jurisdiction on August 15, 2019.

 

 

 

Status Details

 8/28/2019 - $22,700,000 Lease/Leaseback Inducement Resolution passed by the ECIDA Board of Directors