JULIE PACATTEBATAVIA DEVELOPMENT CORPORATION

CITY OF BATAVIA, GENESEE COUNTY, NY

BATAVIA OPPORTUNITY AREA

STRATEGIC RECOMMENDATIONS

•UTILIZE LOCAL DEVELOPMENT CORP (LDC)

• SITE IDENTIFICATION, ESTABLISH SOLE MEMBER LLC

•ACCESS BROWNFIELD CLEAN-UP PROGRAM (BCP)

•CREATE PILOT INCREMENT FINANCING DISTRICT (PIF)

• LEVERAGE IDA LAW - HIGHLY DISTRESSED AREA

• EXECUTE DEVELOPMENT AGREEMENT – MEMBERSHIP PURCHASE/SALE

BOA: STRATEGIC SITE, ELLICOTT STATION

BOA: ELLICOTT STATION CONCEPT

BOA IMPLEMENTATION: ELLICOTT STATION • NEXUS TO PROPERTY CITY RESOLUTION TO PROCEED WITH FORECLOSURE, MAY 2014

• BCP APPLICATION ACCEPTANCE, JUNE 2015

• DEVELOPER REQUEST FOR PROPOSAL (RFP), JULY 2015

• PREFERRED DEVELOPER SELECTION, SEPTEMBER 2015

• CITY IN REM FORECLOSE PROPERTY TRANSFER, SPRING 2016

• SECURE GAP FUNDING, 2016

• BATAVIA PATHWAY TO PROSPERITY ANNOUNCEMENT, MARCH 2016

• EMPIRE STATE DEVELOPMENT CAPITAL GRANT, DECEMBER 2016

• NATIONAL GRID GRANTS, 2016-2017

• NEW MARKET TAX CREDITS, 2017

• LOCAL APPROVALS, 2017

ELLICOTT STATION: CAPITAL STACK

PROFORMA

TOTAL PROJECT ESTIMATE $18,298,675

• DEVELOPER EQUITY/DEFRD FEES $ 2,494,615

• NMTC EQUITY $ 2,329,060

• INCENTIVES $ 4,500,000

• LEVERAGED LOANS & $ 8,975,000

CONVENTIONAL FINANCING

13+ ENTITIES INVOLVED

• NMTC – SAVARINO COMPANIES,

CONSULTANT

• CITY OF BATAVIA, BATAVIA DEVELOPMENT

CORPORATION, GENESEE COUNTY

GOVERNMENT, BATAVIA CITY SCHOOL

DISTRICT, GCEDC, NYSDOS, NYSDEC,

FINGER LAKES REGIONAL ECONOMIC

DEVELOPMENT COUNCIL, EMPIRE STATE

DEVELOPMENT & NATIONAL GRID

ELLICOTT STATION: INCENTIVES

$1,900,000Batavia

Dev CorpCFA: FL Regional Economic Development Council & Empire State Development

$750,000Batavia

Dev CorpNYS DEC Brownfield Clean-Up Program, tax credit estimate

$700,000 ATJ-EDO Batavia Pathway to Prosperity PIF: Genesee County Govt, City Govt, School District, GCEDC & BDC

$650,000BDC-City-Savarino

National Grid: Brownfield, Urban Center & Main Street

$500,000City of Batavia

Empire State Development Restore NY

IMPACTS

• RENEWED HOPE & PROSPERITY FOR OUR COMMUNITY

• REVERSE DEVASTATION OF URBAN RENEWAL & MANUFACTURING LEGACY

• STRENGTHENED STRATEGIC ALLIANCES

•NEW INVESTOR RELATIONSHIPS FORMED

•MORE JOBS & PEOPLE LIVING DOWNTOWN

• TAX BASE AT ELLICOTT STATION TO INCREASE 30 TIMES

THANK YOUJULIE PACATTE, BATAVIA DEVELOPMENT CORPORATION

585-345-6380

jpacatte@bataviadevelopmentcorp.org