Observer, 10 East Second Street, Dunkirk, NY
Observer
10 East Second Street, Dunkirk, NY
Dunkirk, NY 14048
10 East Second Street, Dunkirk, NY
Dunkirk, NY 14048
- Within City Limits?:
- No
- Property Type:
- Building
- Property Description:
- 27,648 SF one story steel frame/block building with full basement built in 1978. Office, warehouse and former newspaper printing facility. Central air conditioning and heat. Two 8'X10' overhead doors. Three restrooms (2 ladies/1 men). Elevator shaft/no elevator. Sprinkled throughout. Unfinished, heated, clean basement.
- Tax Incentives:
- Uniform Tax Exemption Policy (UTEP) • Abatements and exemptions from sales, use and mortgage recording taxes. The abatement applies to value added by construction or renovation for industrial, commercial and tourism related projects that have a significant impact to Chautauqua County. • Payment in Lieu of Tax (PILOT) Agreement. Real property tax abated for manufacturing, commercial, adaptive reuse and tourism projects.
- Financial Incentives:
- AL Tech Revolving Loan Fund • Below market, fixed interest rate – currently 4%, subordinated loans for fixed asset or working capital needs. Economic Development project financing for companies investing in Chautauqua County. Chautauqua Revolving Loan Fund (CRLF) • Below market, fixed interest rate – currently 4%, subordinated loans for private projects that create or retain jobs. The purpose of the CRLF is to foster and maintain economic growth in Chautauqua, Cattaraugus and Allegany Counties. Bonds 1. CCIDA has the ability to issue tax-free or taxable revenue bonds. The interest rate is market driven (based on credit of project and/or project beneficiary and/or bond guarantor) and is often set at closing. A. Tax Exempt Revenue Bonds (NYS, NY and Federal tax free interest) • Manufacturing bonds for land, building acquisition / renovation / construction, new machinery and equipment. (see Internal Revenue Code Section 144) • Exempt facility bonds, such as low income housing, water sewer, solid waste disposal, etc. (see Internal Revenue Code Section 144) • Governmental bonds, such as payment in lieu of tax increment bonds (see Internal Revenue Code Section 141) B. Taxable Revenue Bonds (NYS and NYC tax free interest) • For any project authorized by Article 18-A of the NY General Municipal Law. Public economic benefit and job creation.
