NIAGARA COUNTY INDUSTRIAL DEVELOPMENT AGENCY

NOTICE OF PUBLIC HEARING

            NOTICE IS HEREBY GIVEN that a public hearing pursuant to Article 18-A of the New York General Municipal Law will be held by the Niagara County Industrial Development Agency (the "Agency") on the 30th day of October, 2024, at 2:00 p.m., local time, at Niagara Falls City Hall, 745 Main Street, Room 117, Niagara Falls, New York 14301, in connection with the following matter:

 

INDIAN OCEAN, LLC  and/or an individual(s) or affiliate, subsidiary, or entity or entities 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 that the Agency consider undertaking a project (the "Project") consisting of: : (A) the acquisition by the Agency of a leasehold interest in land located at 900 & 913 Buffalo Avenue in the City of Niagara Falls, Niagara County, New York (the "Land"); together with the existing hotel located on the Land (the “Existing Improvements”); (B) the construction an approximate 45,000 square foot addition to include 85 guest rooms, a restaurant and patio space, along with the renovation of the Existing Improvements to conform with the hotel franchises requirements (the “Improvements”); and (C) the acquisition and installation in and around the Improvements of certain items of machinery, equipment and other tangible personal property (the "Equipment" and collectively with the Land and the Improvements, the "Facility"); and

The Agency will acquire 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 (the "Financial Assistance") to the Company in the form of sales and use tax exemptions and a mortgage tax exemption consistent with the policies of the Agency, and a partial real property tax abatement.

A representative of the Agency will be at the above-stated time and place to present a copy of the Company's project application and hear and accept written and oral comments from all persons with views in favor of or opposed to or otherwise relevant to the proposed Financial Assistance.

This public hearing is being conducted in accordance with Subdivision 2 of Section 859-a of the New York General Municipal Law.

DATED:  October 9, 2024

                                                                                    NIAGARA COUNTY INDUSTRIAL

                                                                                    DEVELOPMENT AGENCY

 

                                                                                    By:  Andrea Klycezk

                                                         Executive Director