12/16/24 IDA Board Meeting

The Ontario County Industrial Development Agency (IDA) held a board meeting on December 16, 2024, focusing on several key development and procurement matters. The meeting included detailed discussions about the redevelopment of the former YMCA building, with plans to lease space to a steakhouse and relocate district attorney offices, alongside potential event space usage and parking management. The board also reviewed and approved a resolution to hold a public hearing related to this project. Another significant agenda item was the 10 Chapen Street housing project, which involves creating 51 workforce housing apartments and commercial space, with a project cost of approximately $21.9 million and 36% public financing. The board discussed the project's cost-benefit analysis, pilot tax schedules, and workforce housing commitments, ultimately authorizing inducement for the project. Financial reports were presented, including updates on accounts receivable, solar projects, and airport operations. The board approved an extension of the Fixed Base Operator (FBO) contract for another year. Additionally, the Economic Development Corporation (EDC) reported on recent grant awards, loan programs, and housing initiatives. The meeting concluded with an update on Acoustus, a company exploring Chapter 11 bankruptcy, prompting the board to consider options regarding their agreement. Motions related to public hearings, contract extensions, and project inducements were passed during the meeting.