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Development updates: Jones Chemical, Monarch Valley Garden LOI work, Canal Corp grant schedule and site security
Summary
Board members provided updates on multiple redevelopment projects: Jones Chemical’s purchase awaits ESD reimbursement (funding anticipated in July), Monarch Valley Garden LOI redlines remain under review, Canal Corp grant work will be supported by two forthcoming professional services agreements, and staff will address site security around vacant buildings.
Board members spent the meeting on routine status updates for several redevelopment projects, including Jones Chemical, Monarch Valley Garden, the Canal Corporation grant work, Harbor Prime event planning and site security around vacant buildings.
Jones Chemical: Board staff reported Empire State Development (ESD) has received the outstanding documentation needed to reimburse grant elements and that the project team expects ESD review within about a week and funding roughly three months after that. One speaker said the treasurer’s or ESD board timing may affect disbursement and that funding could land…
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