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PENN YAN
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Dundee Foods sale should be final soon

    PENN YAN—The sale of Dundee Foods has not yet been finalized, as discussed in the Finger Lakes Economic Development Center (FLEDC) meeting on Wednesday, Dec. 21.
    Last November, Mabrouka Properties II executed a purchase offer for the facility from Dundee Food’s parent company, LiDestri Foods.  Steve Griffin, FLEDC chief executive officer, explained Mabrouka is the name of the real estate arm representing a Moroccan company specializing in Mediterranean food distribution formed to handle the transaction.  Griffin noted the Moroccan company is looking to create 40 jobs within three years at the Dundee facility.
    FLEDC passed a resolution to transfer the current Payment in Lieu of Taxes (PILOT) with Dundee Foods to Mabrouka.  Griffin also noted the current PILOT, which had no increased property taxes over its first five years, has existed for seven years.  FLEDC is talking about resetting it so Mabrouka will not have to pay increased property taxes when they first make the purchase.
    In other business:
    •  A resolution was passed to hold a public hearing on the PILOT for the AES-owned Greenidge plant in Dresden.  Griffin mentioned no date has been set for the hearing, but it is expected to take place before Jan. 18.  He also said it would probably be held in Torrey.  For related story on AES filing for bankruptcy, see page 1.
    •  The council approved to renew the leases for Hillside/Crestwood Children, Crooked Lake, Management, and Synchronicity 1, LLC.  All three businesses are located in Keuka Business Park.  Each lease was extended another year.
    •  Renovations of the warehouse buildings in Penn Yan at 120 and 124 Water St. are expected to begin in January.  Chris Iversen’s company, Chrisanntha Construction Corporation, received a $2.25 million loan from the state in 2010 to restore the buildings.  The project should be finished in a year.

 

 





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