The Niagara County Industrial Development Agency will hold a public hearing May 5 on an application for $14.2 million in industrial development bonds by the Benderson Development Corp. for expansion of the Niagara Factory Outlet Mall in the Town of Niagara.
The agency, meeting in regular session Thursday, also accepted an application for $1,250,000 in bonds from Taylor Devices Inc. which is seeking to expand its facilities in North Tonawanda. A public hearing on that application was scheduled for May 10.
NCIDA Exeuctive Director Leo J. Nowak Jr. said Benderson will receive tax exemptions worth $2,290,400 over the 10 years of the bonds.
Benderson will use the money to add 208,000 square feet and 50 stores to the mall on Military Road in the Town of Niagara. A spokesman for the company said that more than one-third of the stores have been rented so far.
The hearing on the Benderson application will be at 9 a.m. in Niagara Town Hall, 7105 Lockport Rd.
Taylor Devices' exemptions will total $180,600 over the 15 years of the bonds.
Richard Hill, vice president of Taylor, said the company, which manufactures heavy duty shock absorbers, is planning an addition of upwards of 15,000 square feet and will add 25 full time employees to its present staff of 71. Hill noted that his company recently received a $2 million government contract to build shock systems for military vehicles.
The hearing on Taylor's application will be held at 7 p.m. in the Niagara County Building, 500 Wheatfield St., North Tonawanda.
The agency also accepted an application from Rado-Mat Holdings Inc. for $950,000 in bonds to add a restaurant to its Holiday Inn at Third and Old Falls Streets in Niagara Falls.
Employment at the 5,000-square-foot restaurant will be 45 full time and 20 part time workers the first year and will increase by five each in the second year.
The public hearing on Rado-Mat's application will be held at 9:30 a.m. May 6 at the Earl Brydges Library in Niagara Falls.
Earlier in the meeting the agency placed its stamp of approval on $200,000 loan made by the Niagara County Development Corp. to Innovative Biotechnologies Inc. which is moving into a 35,000 square foot facility in the Summit Business Park on Williams Road in the Town of Wheatfield.
The company will commercialize varied technologies from gravity environments in space to the development of bird feed that does not attract rodents.