$30 Million IDA Distribution Center Project

Hodgson Russ represented an industrial development agency located in New York State in connection with the siting and development of a distribution center having a project cost of approximately $30 million and containing over 1 million square feet of space. Part of the project involved the granting of various New York State exemptions (real property tax, mortgage recording tax, and sales tax). Another component of the project involved the issuance of a revenue bond by the industrial development agency to fund infrastructure improvements to the site in order to make the site ready for development. We worked with the parties to provide for the construction contracts relating to the infrastructure work and the rights of the public entities and the private parties.