Mega Properties, Inc. and smartDESIGN Architecture, PLLC Receive Final Approvals
Press release
BATAVIA, NY – Agreements supporting Mega Properties, Inc.’s construction of a 165,000 square foot distribution center at the Gateway II Corporate Park in the town of Batavia and smartDESIGN Architecture, PLLC’s renovation of a vacant building in the city of Batavia received final approval from 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 will create 28 new jobs. The project is projected to generate $18.7 million in community benefits. 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.
Mega Properties, Inc. requested 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. A public hearing on the proposed incentives was held Aug. 28 in the town of Batavia.
smartDESIGN Architecture, PLLC, will 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 estimated to generate $9,830,382 in community benefits, including $9.7 million in payroll and $114,558 in future tax revenues, for an estimated $112 local benefit for every $1 of requested incentives.
The project requested 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.