GCEDC Accepts Applications for two Projects Worth $9-million
Written by Dan Fischer on May 8, 2020
The Genesee County Economic Development Center (GCEDC) board of directors voted to accept applications for two projects that will generate $9 million in capital investments.
Bright Oak Solar, LLC is seeking incentives to construct a 4MW community solar at a capital investment of $6 million project. The project would be located on Galloway Road in the town of Batavia.
J & R Fancher Property Holdings, LLC is investing $3 million to build a 32,254 square-foot, three-story facility to be constructed on 2 acres in the Buffalo East Technology Park in the town of Pembroke. The project will add 17 market-rate, 1-bedroom and 2-bedroom apartments on the second and third floors, and an interior space comprised of four spaces for commercial tenants, as well as indoor parking and a fitness center.
“These projects continue the momentum in investments in residential housing and the renewable energy sectors,” said GCEDC Board Chair Paul Battaglia. “In just the first few months of 2020, we have projects that will create close to 100 new residential housing units and investments of approximately $28 million in renewable energy sector that will create 26-megawatts of solar energy.”
J & R Fancher Property Holdings, LLC is requesting approximately $615,924 of property, sales and mortgage tax incentives. The project is estimated to produce $5.5 of economic impact for every $1 of proposed incentives.
Bright Oak Solar LLC is seeking approximately $978,656 in sales, mortgage and property tax exemptions. The company will make PILOT payments over the next 15 years which are estimated to generate $122,610 in revenues to Genesee County and $257,845 in revenues to the Oakfield-Alabama Central Schools. The total increase in PILOT payments and real property taxes for the project is estimated at $394,139 over 15 years.
Since both projects are seeking incentives over $100,000, public hearings will be conducted.