Public Hearing - Group V Real Estate, Inc.

Tue Jan 30th, 2018 - 9 to 9:15 am
At Town of Newstead Town Hall, Courtroom, 5 Clarence Center Road, Akron, New York


            Pursuant to Article 18-A of NYS General Municipal Law, the Erie County Industrial Development Agency (the "Agency") will hold a public hearing on January 30, 2018 at 9:00 a.m. at the Town of Newstead Town Hall, Courtroom, 5 Clarence Center Road, Akron, New York regarding:

Group V Real Estate, Inc., 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 (the "Application") to the Agency (a copy of which is on file at the office of the Agency) requesting the Agency to undertake a certain project (the "Project") consisting of: (i) the acquisition by the Agency of a leasehold interest in all or a portion of land located at 11342 Main Street, Town of Newstead, Erie County, New York (the "Land") improved thereon with an existing 18,500+/- SF manufacturing building (the "Existing Improvements"), (ii) the construction on the Land of an addition to the Existing Improvements totaling 8,000+/- SF, and the renovation and installation and or/upgrade of certain infrastructure improvements to the Existing Improvements  (collectively, the "Improvements") to be utilized by Athenex Pharma Solutions, LLC (the "Tenant") for the manufacture of small batch pharmaceuticals, 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, mortgage recording tax exemption benefits, and real property tax abatement benefits consistent with the policies of the Agency (collectively, the "Financial Assistance").

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 February 20, 2018.  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. 

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  Comments will be accepted up until February 21, 2018 at 4:00 p.m.  

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