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Utica IDA hears application to renovate 371,000-square-foot Beachborough Place building, contemplates five-year tax relief
Summary
The Utica Industrial Development Agency received an application from BG Warehouse LLC to renovate a roughly 371,000-square-foot industrial building at 2007 Beachborough Place, with proposed sales tax exemptions and a five-year PILOT; the public hearing closed with no comments.
Jack Smith, executive director of the Utica Industrial Development Agency, told the agency that BG Warehouse LLC applied for agency assistance to renovate an existing 371,000-square-foot (plus or minus 4) industrial building on a 21.81-acre parcel at 2007 Beachborough Place in the City of Utica, Oneida County, New York. "The company owns the facility and leases the facility to the agency, and the agency leases the facility back to the company," Smith said, describing a lease–leaseback structure intended to…
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