Mega Properties, Inc., smartDESIGN Architecture, PLLC Proposals on GCEDC’s Sept. 4 agenda
Press release
BATAVIA, NY – Two projects, including Mega Properties, Inc.’s construction of a 165,000 square foot distribution center at the Gateway II Corporate Park in the town of Batavia, will be considered for final resolutions by the Genesee County Economic Development Board of Directors at the agency’s Thursday, September 4th board meeting.
Mega Properties, Inc.’s $11 million distribution center would create 28 new jobs. The project is projected to generate $18.7 million in community benefits.
Mega Properties, Inc. is requesting a sales tax exemption of $523,328, a mortgage tax exemption of $80,000, and a property tax abatement of $1,504,602 based on the increased assessed value generated by the new facility. The project is estimated to generate $17.5 million in new payroll and $1.2 million in future tax revenues, for an estimated $11 local benefit for every $1 of requested incentives.
A public hearing on the proposed incentives was held Aug. 28 in the Town of Batavia.
smartDESIGN Architecture, PLLC, is planning to renovate a vacant building at 4 Mix Place in the City of Batavia that will serve as the headquarters for the professional services firm. Planning approvals for the work of the $480,000 renovation project were approved by the City of Batavia.
The project is requesting assistance from the GCEDC through a sales tax exemption on construction materials estimated at $25,600, a mortgage tax exemption at $4,000, and a property tax abatement estimated at $79,888 based on the incremental increase in assessed value due to the improvements.
A public hearing on the proposed incentives was held Aug. 5 in the City of Batavia.