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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 "sometime in July." Staff said they have provided routing information requested by the purchaser and will continue outreach.
Monarch Valley Garden and LOIs: Board members said they asked the purchaser to consolidate two letters of intent into a single LOI and sent redlines to the purchaser’s original LOIs. Counsel and the purchaser’s attorney (George Murad) have been exchanging comments; the board had not yet received the purchaser’s attorney’s returned comments at the time of the meeting.
Canal Corp grant and professional services: The board expects to present two professional services agreements at a future meeting: one for design and construction management and one from a structural engineer for ground improvement and pad design for the 33 building. Speakers said the Canal Corporation provided a funding agreement template and that the work is expected to be fully GRAMa funded ("100% grama, no match" as stated in the meeting). Canal Corp set a project completion deadline of Dec. 31, 2026.
Harbor Prime and event planning: The Chamber of Commerce received a grant (described in the record as from the Erie Canal commission) and is coordinating Harbor Prime in partnership with the city; the event was referenced for early June (participants gave June 5 as a likely afternoon date).
Site security, fencing and gates: Board members discussed moving temporary fencing around vacant buildings and the mayor’s direction to take gates down as soon as possible. Staff plans included on‑site meetings with Mark Sokolowski to finalize a fencing plan and consideration of padlocks or temporary gates to secure entry until a longer term plan is implemented.
No formal votes were recorded on these status items at this meeting; staff were tasked with continuing negotiations, finalizing agreements and following up on the ESD disbursement timeline.
