Public hearing on financial assistance for a housing project in Potsdam.

ST. LAWRENCE COUNTY

LEGAL NOTICE



Notice is hereby given that a public hearing (the "Public Hearing") pursuant to Section 859-a(2) of the General Municipal Law of the State of New York (the "Act") will be held by the St. Lawrence County Industrial Development Agency (the "Agency") on the 24th day of March, 2026 at 11:00 a.m., local time, Village of Potsdam, Community Meeting Room, 38 Main Street, Potsdam, New York 13676, and via Zoom meeting. Members of the public may attend by viewing and commenting on the Project and the benefits to be granted to the Company (as defined below) by the Agency during the Public Hearing by logging into the Zoom meeting:




Join Zoom Meeting:

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Meeting ID: 813 7051 3924

Passcode: 248353

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VECINO GROUP NEW YORK, LLC, a Missouri limited liability company authorized to do business in the State of New York (the “Company”), has requested the assistance of the St. Lawrence County Industrial Development Agency (the “Agency”) with a certain project (the “Project”) consisting of (A) the acquisition of a leasehold interest in approximately 1.7 acre parcel of land located at 56 Main Street, Village of Potsdam, Town of Potsdam, St. Lawrence County, State of New York (the “Land”), together with a three story building, containing approximately 57,000 square feet (the “Existing Improvements”); (B) the renovation and equipping of the Existing Improvements, including, but not limited to, construction of 53 affordable housing units, a community room, offices for onsite staff, laundry room, mail room, fitness room, lounge areas, and related improvements (collectively, the “Improvements”); and (C) the acquisition and installation therein and thereon of related fixtures, furniture, machinery, equipment and other tangible personal property (collectively, the “Equipment” and, together with the Land and Improvements, the “Facility”), and (D) the lease of the Agency’s interest in the Facility back to the Company pursuant to a project/leaseback agreement.




The Company has fee title in the Facility. The Agency will acquire an interest in the Facility. The financial assistance contemplated by the Agency will consist generally of the exemption from taxation expected to be claimed by the Company as a result of the Agency taking an interest in, possession or control (by lease, license or otherwise) of the Facility, or of the Company acting as the agent of the Agency, consisting of (i) an exemption from state and local sales and use tax with respect to the construction and renovation of the Facility; (ii) an exemption from mortgage recording taxes and (iii) an exemption from general real property taxation with respect to the Facility, which exemption shall be offset, in whole or in part, by contractual payments in lieu of taxes (the "PILOT") by the Company for the benefit of the affected tax jurisdictions.




A representative of the Agency will be at the above stated place and time to hear all persons with views in favor of or opposed to either the location or nature of the Facility, or the proposed financial assistance being contemplated by the Agency. At the hearing, all persons will have the opportunity to review the application for financial assistance filed by the Company with the Agency and an analysis of the costs and benefits of the proposed Project. In addition, at, or prior to, such hearing, interested parties may submit to the Agency written materials pertaining to such matters. Such materials may be submitted to the Agency at 19 Commerce Lane, Suite 1, Canton, New York 13617, or at lsibley@slcida.com and must be received no later than 11:00 am on the day of the public Hearing. Written statements provided to the Agency regarding the Project will also become part of the record of public hearing. A transcript of the public hearing will be made available at a later date.




Please check the meeting information posted on the Agency website (www.slcida.com) to access instructions to join the meeting and to find copies of the application and the cost benefit analysis.




DATED: March 6, 2026

ST. LAWRENCE COUNTY INDUSTRIAL DEVELOPMENT AGENCY