The Genesee County Economic Development Center (GCEDC) Board of Directors will consider final approval of a $3.72 million financial investment by Ivy Village Corp. which would create 20 seniors housing units at market rate in the village of Le Roy at its council meeting on Thursday, August 4, 2022.
The GCEDC Board of Directors will also consider an initial application for a proposed $17.6 million project by Nexgistics to build a 140,000 square foot warehouse distribution center and national headquarters on 30 acres of land on Vision Parkway in the City of Pembroke.
Nexgistics is a fast-growing third-party logistics provider specializing in consumer electronics, sporting and outdoor goods, e-bikes and related products with operations in New York and Nevada. Nexgistics currently leases buildings at two locations in Western New York and is looking to build a centrally located facility that will allow the company to retain 21 full-time positions and create three new jobs.
Nexgistics claimed sales tax exemptions estimated at $812,000, property tax abatement estimated at $1,116,360 and mortgage tax exemption estimated at $154,650. For every dollar of public interest, the company invests 7 dollars in the local economy.
Ivy Village Corp. proposes to construct residential units at market price in three phases, each phase requiring the construction of 10 duplex residences. The development is situated on 16 acres off Lake Street with easy access to village amenities and is a twenty minute drive from downtown Rochester.
Ivy Village Corp. requested approximately $805,000 in mortgage, land and tax incentives. The fiscal impacts of the project (wage and indirect tax revenue) are estimated at more than $3.5 million over the life of the PILOT, with $6 of local project benefits for every $1 of public investment.
The August 4, 2022 GCEDC Board Meeting will be held at 3:00 p.m. at the MedTech Center Innovation Zone, 99 MedTech Drive, across from Genesee Community College. The on-demand recording of the meeting will also be available on www.gcedc.com.