Focus on Improving New York State Through Economic
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PUBLIC FINANCE AND ECONOMIC DEVELOPMENT FOCUS ON IMPROVING PRACTICE GROUP NEW YORK STATE THROUGH ECONOMIC DEVELOPMENT Harris Beach pllc represents more than 25 Industrial Development Agencies (IDAs) across the state in a broad range of projects. These initiatives incorporate all forms of federal, state and local economic development incentives. Many of the projects include implementing local waterfront redevelopment efforts, executing area master plans with condemnation, and more. These projects often require coordination with city councils, county and town boards, Urban Renewal Agencies, IDAs, Local Development Corporations (LDCs), community groups, and the Empire State Development Corporation (ESDC). Following is a sampling of some of our economic development projects. Albany Convention Center Authority Enlists be utilized (with taxing jurisdiction consent) and borrowed Harris Beach for Extensive Support against to fund site-specific infrastructure. The first PILOT As general counsel to the Albany Convention Center Increment Financing (PIF) was used by the Erie County Authority, Harris Beach advises on a wide range of IDA (ECIDA) to bridge financing gaps related to the Tops matters, including corporate and organizational issues, store located in the city of Buffalo. Harris Beach later negotiation of contracts, leases, etc. on behalf of the represented the developer of the Certainteed project Authority, real estate eminent domain construction at Union Ship Canal (now known as Buffalo Lakeside law, litigation, environmental law including some State Commerce Park). The initiative balanced Brownfield Environmental Quality Review Act (SEQRA) compliance, Clean-up issues with IDA and Empire Zone benefits to and Public Authority Accountability Act compliance. create a unique Brownfield fund. (See following for details Buffalo Realizes Improved Outcomes of the Buffalo Lakeside Commerce Park project.) with Innovative Financing Environmental Counsel Key to Helping ESDC Harris Beach introduced the idea of combining an Develop Buffalo’s Inner Harbor IDA PILOT Agreement with Empire Zone benefits to We served as counsel to Empire State Development encourage developers to make PILOT payments that can Corporation for the Buffalo Inner Harbor development, harrisbeach.comharrisbeach.com This may be considered Attorney Advertising according to the Rules of Professional Conduct. including the areas of construction, environmental and Cleanup Program (VCP) with the DEC, use of Empire Zone related litigation. During Phase I, our primary function in benefits and IDA benefits, and administration of federal that role was to assist and advise the ESDC, as lead and and state grants to fund an incubator facility and related coordinating agency for the project, in conducting the park infrastructure. necessary environmental review process in compliance Transformation of Horseheads Industrial Complex with NEPA and SEQRA. Phase I included advising ESDC Meets Multiple Needs with respect to all environmental issues raised through Harris Beach was brought in to assist in negotiating the the review process as well as assisting in the preparation transition of this site from warehouse usage to retail space. of the Environmental Impact Statement. This project The effort includes balancing community concerns with also involved extensive and complex NEPA and SEQRA the remaining tenant needs, timing the development to litigation. The Canal Side Project will face similar legal issues meet retail demands, and addressing infrastructure needs, and similar legal challenges. including a new highway interchange. Structure Results in Successful Redevelopment for Retail Renewal Continues in Downtown Ithaca Buffalo Lakeside Commerce Park Harris Beach acted as bond/transaction counsel to Harris Beach has been retained by the Buffalo Urban redevelop downtown Ithaca. The project involved Development Corporation (BUDC) to assist with creating condemnation and a unique financing package for a a “beyond shovel ready” site designation with respect parking garage involving the IDA, urban renewal agency, to an 80-acre Brownfield site, known as the Buffalo city of Ithaca, and private parties based on air rights over Lakeside Commerce Park (BLCP), located within the Union the base floor that will be developed as retail storefronts. Ship Canal Urban Renewal Redevelopment Area in the Harris Beach is involved in planning similar projects in both southwest corner of the city of Buffalo. In this capacity, Yonkers and Peekskill. Harris Beach creatively utilized the New York State Empire Zone Program and the New York State Brownfield Cleanup Monroe and Ontario County IDAs Assist in Program to create Empire Zone certified and Brownfield Development of Retail Malls Cleanup Program-eligible entities that can be utilized Harris Beach has represented numerous retail developers by parties interested in locating to and developing in in Pilot Increment Financing (PIF) transactions with respect the BLCP. In this manner, Empire Zone and Brownfield to repositioning several regional malls. For example, the Cleanup Program tax benefits have been “locked-in,” Medley Center project was accomplished using structured eliminating months of application procedures and related tax increment financing (a PILOT Agreement) with Empire unknowns that developers would otherwise have to Zone certification, and the consent of affected taxing endure. In addition, this structure added certainty to the jurisdictions. As a result, the owner was able to utilize calculation of tax benefits to assist interested developers an agreed-upon portion of PILOT payments to make in their financing efforts. This structure enabled the infrastructure improvements. The PILOT Agreement was ECIDA to establish the recently announced Brownfield instrumental in Target’s decision to build a freestanding Redevelopment Fund that will finance site access and site 127,000 square-foot facility on the site. infrastructure construction. Nassau County IDA Looks to Harris Beach for Successful Negotiations Move Project Forward for Support with Complex Bond Transactions Cornell University Agriculture Food Technology Park Harris Beach is bond counsel and special counsel to the Harris Beach is acting as counsel to this public/private Nassau County IDA. For the past three and a half years, partnership to develop a research park adjacent to the attorneys currently at the firm have represented the site of the world-renowned Cornell University Ph.D. food NCIDA in connection with numerous complex transactions, science program in Geneva, New York. including the interest rate mode conversion for the bonds of the New York Institute of Technology, bond financing The project has included: legislation to exchange SUNY for the Alliance of Long Island Agencies, bond financings land for Cornell land, the establishment of a local for affordable housing projects and various straight lease development corporation, negotiation of licensing with transactions, including those for well known applicants/ the Office of General Services (OGS), a master lease brands such as Nestle, Life Time Fitness, Arizona Iced Tea, with Cornell, release of SUNY construction funds for Quick International Courier, and Cox and Company. environmental remediation, involvement in a Voluntary PUBLIC FINANCE AND ECONOMIC DEVELOPMENT PRACTICE GROUP ECONOMIC DEVELOPMENT INCENTIVES AND MUNICIPAL ASSISTANCE FOR ORGANIZATIONS New York City Nets New Jobs and Pfizer Gains were accomplished with careful consideration to balance Incentives the enhancements of establishing the technology park as Harris Beach was counsel to Pfizer Inc. to negotiate a competitive commercial site with potential community economic development incentives associated with the impact. Harris Beach also facilitated bringing research lab acquisition of a city center site. The successful initiative space and University of Rochester relationships to RTP. brought the area 2,000 new jobs. Environmental and Economic Achievements Negotiations with Property Owners in the City Succeed with the New York State Energy Research of Niagara Falls and Seneca Nation Lead to and Development Authority (NYSERDA) for Saratoga Redevelopment Technology & Energy Park (STEP) Harris Beach is counsel to the Empire State Development Harris Beach represented this public benefit corporation Corporation (ESDC) to pursue condemnation in an effort with the development of a unique technology and energy to implement the state compact with the Seneca Nation park in Malta, New York.Work included SEQRA review, leading to redevel-opment of 26 acres in the city center. land use, planning, permitting, and grant application and administration. Our attorneys are now working to develop Brownfield Revitalization Benefits Painted Post, economic development incentives unique to STEP. New York Ingersoll-Rand removed all improvements from a former Schenectady Metroplex Development Authority foundry site, instituted Department of Environmental Brings Benefits to City Center Conservation (DEC) site controls, and desired to leave the Harris Beach was engaged to assist this public benefit site undisturbed. After 12 years, a new opportunity was corporation with use of IDA, Empire Zone, and PIF benefits identified and the mayor and village board brought in as part of the efforts to revitalize the Schenectady city center. Harris Beach to determine if a solution could be found to New Employment Results from Schuyler County allow development. Harris Beach used a condemnation Redevelopment