Utica IDA holds public hearing on DePaul Columbia Square supportive housing, proposes 32-year lease-leaseback and long tax abatement

The Utica Industrial Development Agency on Aug. 6 held a public hearing on a proposed lease-leaseback to support construction of a 66-unit affordable and supportive housing facility at Columbia Square in Utica.

Jack Spieth, executive director of the Utica Industrial Development Agency, said the proposal from DePaul Columbia Square, LP would involve the agency assisting with acquisition of 18 parcels totaling about 1.9 acres at addresses on Erie, Whitesboro and Saratoga streets, demolition of existing structures, construction of the multifamily facility and acquisition of furniture, fixtures and equipment.

The project would be owned in fee by DePaul Columbia Square Housing Development Fund Corporation as nominee, the applicant would be the beneficial owner and initial operator, and the company would sublease…