West Carthage developer Michael E. Lundy will buy about 22 acres of developable land at the corporate park off outer Coffeen Street from the Jefferson County Industrial Development Agency, according to a deal approved Thursday by the agencys board of directors.
The CEO of Lundy Development Corp. has agreed to complete site work on the land as a part of the deal, which includes lots 10 (4.2 acres), 11 (7.5 acres) and 12 (10.2 acres) north of County Route 202.
Mr. Lundy has agreed to relocate about 2 acres of wetlands that encroach on lots 10 and 11, said Donald C. Alexander, JCIDA CEO. Those wetlands will be relocated in accordance with a Ducks Unlimited conservation program that requires newly established sites to be double the original size. Mr. Lundy has not yet selected a site in Jefferson County for the wetlands, Mr. Alexander said, but has considered using property he owns in Carthage.
This will allow us to develop the lots more fully, which will help us sell them to businesses, Mr. Alexander said of the deal. It takes care of the $20,000 to $50,000 expense of moving the wetlands ourselves, and it will help us get this land shovel-ready faster. We developed this agreement so that he can get the land ready as soon as possible.
Mr. Lundy also has agreed to complete work needed to get lots 11 and 12 shovel-ready for businesses, Mr. Alexander said. Though Lot 10 is now shovel-ready, he said, the other parcels still require about $200,000 to $300,000 of site work to get ready.
Lot 10 will be sold to Mr. Lundy at $20,000 per acre, Mr. Alexander said. Because of the additional work required on lots 11 and 12, that land is to be sold at a reduced price of $8,000 to $9,000 per acre.
Mr. Lundy, who was not at Thursdays meeting, did not return multiple calls seeking comment.
Mr. Alexander said site work required on Lot 12, in particular, must be accomplished soon so workers can start building the 64,000-square-foot FedEx facility planned there by SunCap Property Group, a Charlotte, N.C.-based real estate development firm. Construction of the FedEx building to replace the carriers location at 22530 Fisher Road was supposed to be underway in April. The developer previously reported the center will employ up to 100 part-time and full-time workers during peak times.
They want to get this project done as soon as possible, Mr. Alexander said.
In addition to site work needed at Lot 12, SunCap is waiting for the approval of a 10-year tax abatement, granted by state real property law. Under that agreement, the developer would start by paying 50 percent of property taxes in the first year, increasing in increments to the full amount. The tax break was approved by Jefferson County and the town of Watertown this month, but it still needs approval from General Brown Central School District. The Board of Education has requested more information after reviewing the proposal Wednesday. It plans to vote on the measure July 1.
The JCIDA board also approved the following measures Thursday:
n A $300,000 one-year loan to Timeless Frames, which operates four buildings at the Jefferson County Corporate Park off Coffeen Street. The company will use the loan to launch a production line for picture frames in August.
n A five-year lease extension for parking used by Stream Global Services, 146 Arsenal St. The agency formerly leased parking lots from the city for $1 a year, and it hired private contractors to complete maintenance work. It revised that contract by agreeing to pay the city $20,000 in maintenance costs for parking, money that will flow from its Stream Reserve Fund. As part of the agreement, Stream agreed to relinquish its exclusive right to a little-used parking lot behind Liberty Plaza. The company will continue to be responsible for snowplowing at the Court Street lot under the lease extension, which will take effect Oct. 1.
n The board will hold its next meeting July 11 at Watertown International Airport near Dexter, which will include a progress report on the corporate business park being planned there.