{"id":51342,"date":"2024-03-08T13:13:17","date_gmt":"2024-03-08T18:13:17","guid":{"rendered":"https:\/\/videonewsservice.net\/?p=51342"},"modified":"2024-03-08T13:13:17","modified_gmt":"2024-03-08T18:13:17","slug":"genesee-county-gcedc-board-of-directors-approves-15-million-market-rate-housing-development-in-the-town-of-batavia","status":"publish","type":"post","link":"https:\/\/videonewsservice.net\/index.php\/2024\/03\/08\/genesee-county-gcedc-board-of-directors-approves-15-million-market-rate-housing-development-in-the-town-of-batavia\/","title":{"rendered":"GENESEE COUNTY\/GCEDC Board of Directors approves $15 Million market-rate housing development in the Town of Batavia"},"content":{"rendered":"
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\"\"<\/figure>\n<\/div>\n\n\n

Town of Byron community solar farm advanced by board<\/em><\/p>\n\n\n\n

Press release<\/p>\n\n\n\n

BATAVIA, NY \u2013 The Genesee County Economic Development Center (GCEDC) board of directors approved a final resolution for a proposed market-rate housing development on MedTech Drive in the town of Batavia at its board meeting on Thursday, March 7th, 2024.<\/p>\n\n\n\n

MedTech Landing LLC will invest $15 million to construct 100,000 sq. ft. of apartment buildings totaling 80 units. The project is comprised of seven buildings with a mix of one-, two- and three-bedroom units.<\/p>\n\n\n\n

The project aligns with the GCEDC\u2019s Housing Policy #1 and a recognized need for housing availability. The Genesee County Housing Needs Assessment identified in 2018 that 4,800 units were needed in the next 20 years across single family homes and rental units. The project will also generate up to one million dollars over 20 years to the Batavia Home Fund (BHF).<\/p>\n\n\n\n

\u201cMarket-rate housing investment supports Genesee County\u2019s continued growth to family-sustaining jobs,\u201d said GCEDC President and CEO Steve Hyde. “With the successful partnership of the Town and City of Batavia with the GCEDC, the Batavia Home Fund is poised to add tremendous value in enhancing the housing stock in the city of Batavia and neighboring town.\u201d<\/p>\n\n\n\n

MedTech Landing LLC requested a sales tax exemption estimated at $720,000, a property tax abatement of approximately $3,031,048, and a mortgage tax exemption of $120,000. The project is projected to generate $12 of economic impact for every $1 of public sector investment.<\/p>\n\n\n\n

The GCEDC board also advanced an initial resolution from LeatherLeaf Solar LLC for a 5 MW community solar farm in the town of Byron. The $9 million project is projected to generate $4,000\/megawatts (AC) annually + a 2% annual escalator of revenues to Genesee County and Byron-Bergen Central School District, along with a host agreement with the Town of Byron. A public hearing on the project\u2019s proposed agreements will be scheduled in the Town of Byron.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Town of Byron community solar farm advanced by board Press release BATAVIA, NY \u2013 The Genesee County Economic Development Center (GCEDC) board of directors approved a final resolution for a proposed market-rate housing development on MedTech Drive in the town of Batavia at its board meeting on Thursday, March 7th, \u2026<\/p>\n

Continue 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