This existing building has been vacant since 2019 and was severely underutilized prior to that time.  The project consists of the renovation and re-use of this 15,000 sq. ft. structure into 13 apartments.  Three of the 13 units will be offered at 80% of the adjusted median income (“AMI”) throughout the 7-year PILOT term.

Also offered in the development of the building will be 6-7 spaces of off-site parking which will be available to the tenants.  They will also be adding a curb cut to the front of the building which will open up 3-4 additional parking spaces.

Since 100% of the project is devoted to housing, there is no employment impact other than a part time building manager.

·03/01/2021—Public hearing held. 

· 03/24/2021 -  Inducement Resolution presented to Board of Directors adopting a Negative Declaration in accordance with SEQRA.

· 03/24/2021 -  Lease/Leaseback Inducement Resolution presented to the Board of Directors