Development Agency (the "Agency") will hold a public hearing on July 31, 2017 at 9:00 a.m. at

the Agency's offices, at 95 Perry Street, Suite 403, Buffalo, NY 14203 regarding:

Pearl Group, LLC, and/or Individual(s) or Affiliate(s), Subsidiary(ies), or Entity(ies)

formed or to be formed on its behalf (the "Company"), has submitted an application to the

Agency (a copy of which is on file at the office of the Agency) requesting the Agency to

undertake a certain adaptive reuse project (the "Project") consisting of: (i) a parcel of land

located at 512 Pearl Street in the City of Buffalo, Erie County, New York (the "Land") together

with an existing 67,000+/- SF building (the "Existing Improvements"), (ii) the construction,

equipping, renovation, upgrading, and equipping of the Existing Improvements thereon into a

total of approximately 60,300+1- SF of mixed-use including professional meeting and banquet

space, commercialltheatre space, combination lounge, café and bar, an indoor pool, a fitness

center including locker rooms, a steam room and sauna, and 6,700+/- SF of office space (the

"Improvements"), and (iii) the acquisition and installation by the Company of certain items of

machinery, equipment and other tangible personal property (the "Equipment," and collectively

with the Land, the Existing Improvements and the Improvements, the "Facility").

The Agency will acquire a leasehold interest in the Facility and lease the Facility back to

the Company. The Company will operate the Facility during the term of the lease. At the end of

the lease term, the leasehold interest will be terminated. The Agency contemplates that it will

provide financial assistance to the Company for qualifying portions of the Project in the form of

sales and use tax exemption benefits, and mortgage recording tax exemption benefits consistent

with the policies of the Agency.

A representative of the Agency will be present at the above-stated time and place to

present a copy of the Application and hear and accept written and oral comments from all

persons with views in favor of or opposed to the proposed financial assistance. Written

comments may be submitted at this public hearing or delivered to the Agency at 95 Perry Street,

Suite 403, Buffalo, NY 14203 until the comment period closes on August 22, 2017. The project

application is available for public inspection at the Agency's offices Monday through Friday

(excluding public holidays) from 9:00 a.m. until 4:00 p.m.

This public hearing is being conducted in accordance with Subdivision 2 of Section 859-a

of the New York General Municipal Law.