Aug 4, 2017
BATAVIA — The Ellicott Station project will receive $1.5 million in local tax incentives approved Thursday by the Genesee County Economic Development Center board.
The $17.6 million project received a final review that brought overwhelming approval by the agency, which anticipates a 21-to-one return on public investments from the mixed-use site.
Savarino Companies of Buffalo intends to start work this summer on the former Della Penna site, which is being renovated into the Resurgence Brewing Company’s sour ale production space and a restaurant. The project also includes new construction of apartments and office space.
Project Manager Kevin Hayes of Savarino and officials from the Batavia Development Corporation spoke for the development. Hayes said the “complicated” financing for the project is nearly settled.
“I’m dealing with the project every day ... we’re very close to locking in the finance structure,” Hayes told the GCEDC.
According to the incentives presented Thursday, Savarino Companies will also receive $581,829 in funding through the Batavia Pathway to Prosperity program, which redirects PILOT payments from the City of Batavia, the Batavia City School District and Genesee County to aid reinvestment in the city.
Funding approved by the GCEDC will aid the site’s redevelopment, but the agency’s officers believe the impact will not rest only with the company. The facilities are projected to employ the equivalent of 60 full-time workers at $43,000 in average annual salaries and bring more living, working and recreation uses downtown.
“It’s an understatement,” GCEDC boardmember Craig Yunker said of a tax-exemption criteria for a project to improve the area’s quality of life. “There will be a significant increase in the quality of life in Batavia.”
Ellicott Station was sold to the agency as producing $6.7 million in temporary construction wages, with another $2.5 million in direct income annually; and $1.1 million in property taxes over the life of the 10-year incentive. In return, the county is providing the developer with $897,293 in forgiven sales tax revenue and $537,398 in forgiven property taxes.
BDC Board President Pier Cipollone, joined by members of the BDC’s board and staff, thanked the GCEDC for rewarding an effort that pulled in the school, the city and the county.
“We’re one step closer to having a shovel in the ground,” Cipollone said. “There was a lot of work ... hopefully we’ll have a great development coming up this year and the next.”
