WATERLOO — The Deer Run Corporate Park on Rodman Drive may soon be home to a second business.
The 30-acre corporate park is owned by the Seneca County Industrial Development Agency and is off Auburn Road in the town of Seneca Falls.
The IDA Board of Directors will meet Thursday to consider a motion authorizing a lease agreement, leaseback agreement, agency agreement, Payment In Lieu Of Taxes (PILOT) agreement and a mortgage recording tax exemption with Finger Lakes Agronomics and owner James Saik. He wants to move his business from its current location on Route 318. Saik applied for the financial aid in connection with his 2019 purchase of three lots totaling 10.4 acres on Rodman Drive from the IDA for $85,496 for the construction of a dry and liquid fertilizer building, a seed distribution facility, equipment storage building, office building, scale house and related equipment.
The IDA accepted the initial request for assistance and conducted a public hearing Jan. 30, at which time no comments were received. A cost versus benefits analysis was done that was favorable, paving the way for a final vote Thursday. The initial owner of the facilities will be Finger Lakes Agronomics. The IDA will acquire a leasehold interest in the facility from the company and lease the facilities back to the company.
At the end of the lease term, the agency will terminate its leaseholder interest. The IDA will have title to the facilities and lease them to the company for purposes of the PILOT and mortgage tax exemption and will put the title in Saik’s hands once the PILOT is completed.
The other business in the Deer Run Park is The Blade Shop, maker of custom knives and cutlery, which moved in in the late 1990s.
Following the IDA board meeting, the Board of Directors of the Seneca County Economic Development Corporation will meet for its annual organization meeting.
The board will elect officers for 2020. The governance committee recommended that Valerie Bassett of Covert be chairwoman, with Steve Brusso recommended for vice-chair and Erica Paolicelli as treasurer-secretary.