GCEDC APPROVES REVISED PILOT FOR ELLICOTT STATION AND INCENTIVES FOR GATEWAY GS SPEC BUILDING
Written by Alex Feig on November 2, 2018
BATAVIA, NY – The Genesee County Economic Development Center (GCEDC) approved a revised PILOT for the Ellicott Station development project and incentives for the construction of a spec building at the Gateway II Corporate Park in the town of Batavia.
The Ellicott Station project in the city of Batavia is a mixed-use brownfield redevelopment project including adaptive re-use and new construction of a blighted property in a key gateway to downtown Batavia.
The GCEDC Board approved a $22.5 million PILOT for Savarino Companies, the developer of the project, to meet the financing needed for the project’s expanded scope and scale. Incentives are an estimated $3.25 million, including property tax abatements and sales and mortgage tax exemptions.
When fully developed, Ellicott Station will create 68 full-time equivalent jobs and will include the construction of a 99,000 sq. ft. of brewery, restaurant and beer garden, a 5-story apartment building with 55 apartments and class-A office space.
The Board approved a $18,000 mortgage tax exemption for Gateway GS, LLC for the first of five planned 27,000 sq. ft. spec buildings the company is building at the Gateway II Corporate Park in the town of Batavia.
The $2.6 million project, which is being managed by Gallina Development Corporation, has previously received approval for property and sales tax exemptions.