GCEDC considers final proposals for investments worth $16.3 million
Press Release:
The Genesee County Economic Development Center (GCEDC) Board of Directors will consider a final resolution for a proposed $8.5 million financial investment by Mega Properties Inc. for the purchase of a vacant 147,000 sq. ft. building in the town of Batavia at its board meeting on Thursday, January 13, 2022.
Mega Properties Inc. plans to develop the Federal Drive building into a warehouse distribution facility. The proposed $8.5 million financial investment would retain nine full-time employees and create up to 11 new jobs. The project has requested approximately $600,000 in sales, mortgage, and property tax exemptions.
A public hearing on the proposed project assistance was held Dec. 21 in the town of Batavia.
The GCEDC Board also will consider a final resolution for Gateway GS LLC’s (Gallina Development) proposal to invest $2.9 million as part of an expanded project in the Gateway II Corporate Park. The financial investment supports the construction of a 33,600 sq. ft. facility.
Gateway GS LLC is requesting $478,418 in sales, mortgage, and property tax incentives. The expansion will generate an estimated $28 in economic activity for every $1 of public investment.
An initial resolution will be considered by the board for two 8-unit market-rate apartment buildings located south of Buffalo East Tech Park in the town of Pembroke by Franklin Real Estate and Development.
GCEDC Pre-Board Meeting Release
The multi-unit buildings will include one 1-bedroom apartments and seven 2-bedroom apartments. Franklin Real Estate and Development is requesting $243,402 in sales, mortgage, and property tax incentives.Finally, the board will consider accepting an initial resolution from Apple Tree Acres, LLC which is proposing to invest $3.1 million to build a 50,000 sq. ft. facility on its property at Apple Tree Acres in the town of Bergen.
The facility would create three full-time jobs with an average annual salary ranging from $30,000-$35,000. The project is estimated to create a $10-to-$1 return on investment for Genesee County.
The January 13, 2022, GCEDC Board meeting will be held remotely at 4 p.m. A livestream and on-demand recording of the meeting also will be available at www.gcedc.com.
