RESOLUTION APPROVING DEED OF CONVEYANCE FROM THE AGENCY TO SWANY AMERICA CORP. AND AUTHORIZING EXECUTION AND DELIVERY OF THE SAME
- Post byFCIDA
- October 2, 2018
Adopted October 2, 2018
Introduced by Joe Gillis
who moved its adoption.
Seconded by Todd Rulison
WHEREAS, the Fulton County Industrial Development Agency (the “Agency”) is a body corporate and politic duly organized and existing under Article 18A, Sections 895-c of the General Municipal Law (“GML”) of the State of New York (the “State”), with its principal place of business at 1 East Montgomery Street, Johnstown, New York 12095; and
WHEREAS, SWANY America Corp. (the “Company”) is a New York domestic business corporation with its principal office for the transaction of business at 115 Corporate Drive, Johnstown, New York, and
WHEREAS, the Agency and the Company entered into an Amended and Restated Lease Agreement (the “Lease”) and a Payment in Lieu of Tax Agreement (the “PILOT”) as of July 1, 2003 in regard to a certain industrial parcel of land (the “Property”) located at Lots 1 and 10 at the Crossroads Industrial Park, 115 Corporate Drive, Gloversville, New York (Tax Map # 163.10-2-7.1), as more particularly defined therein; and
WHEREAS, the Agency had leased the Property to Crossroads Incubator Corporation pursuant to a lease agreement dated May 1, 1994 and on July 1, 2003 Crossroads Incubator Corporation assigned all of its rights under said lease to the Company; and
WHEREAS, all payments due and payable under the PILOT have been paid as of the date hereof; and
WHEREAS, the Company has requested in writing, dated July 16, 2018, that said Lease be terminated in accordance with Section 11.1 thereof; and
WHEREAS, the Agency has reviewed the Company’s request and determined its validity under the terms of the Lease.
NOW, THEREFORE, BE IT RESOLVED