NEW NYSTEC SITE PLANNED — A sign at the corner of Otis Street and Hangar Road at Griffiss park marks the site for a proposed new building that is to include corporate headquarters for the NYSTEC company in this file photo. The project has received final approval for financial assistance through the county Industrial Development Agency. (Sentinel photo by John Clifford)
Development agency approves packages for Griffiss projects
Financial assistance packages including property tax abatements for Griffiss park projects involving the NYSTEC, Alion and Kris-Tech Wire companies have received final approvals from the Oneida County Industrial Development Agency (IDA) board.
Among resolutions that were passed Friday:
• For a project involving a new NYSTEC company headquarters building, referred to as the 99 Otis Street LLC facility, the IDA board passed a final authorizing resolution for financial assistance after giving preliminary approval last month.
The package includes a 20-year payment-in-lieu-of-taxes (PILOT) plan, plus a sales tax exemption and mortgage recording tax exemption.
A fixed-payment real property tax abatement schedule is valued at $1,458,426, IDA Assistant Secretary Jennifer Waters has said.
The project calls for a new 32,110-square-foot building near the corner of Otis Street and Hangar Road at Griffiss park in conjunction with Griffiss Local Development Corp. (GLDC). NYSTEC, an independent non-profit technology adviser to state entities, is to lease about 16,779 square feet, while the rest would be leased to other technology companies.
Also for the project, the IDA board approved a SEQRA (State Environmental Quality Review Act) resolution relating to 99 Otis Street LLC, plus it amended the employment obligation numbers in the inducement resolution for financial assistance.
The numbers include 25 current jobs, with increases to 35 by the third year and 45 by the 10th year.
The revision involved employment in the state versus local employment, the IDA officials said.
• A final authorizing resolution for the GLDC Building 778 facility is in conjunction with a GLDC lease of the 775 Daadalian Drive site to the Alion Science and Technology company. Alion’s plans have included relocating to that vacant building trom two other local sites, with projections to create 15 jobs in three years in addition to its current 55-person local workforce.
An approximately 20-year PILOT agreement would be at 50 percent of regular property tax payments, Waters has said.
It would include an estimated first-year payment of $34,843, while the payment at the end of the agreement is estimated at $49,764 including adjustments for inflation, she added Friday.
The IDA board had given preliminary approval in May. Alion is a Virginia-based company whose Rome operations include various Department of Defense contracts.
• The final authorizing resolution for Kris-Tech Wire company involves a 3,000-square-foot office expansion, Waters said.
A PILOT plan will be added to an existing PILOT agreement for Kris-Tech, noted Waters.
The 10-year PILOT terms have involved one-third of regular payments initially, and by the sixth year will call for two-thirds of regular payments, she explained. Kris-Tech opened a new facility at Otis Street about two years ago.
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