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Amherst IDA approves refinancing requests

The Amherst Industrial Development Agency’s board on Friday approved two refinancing requests.

Fox Creek Estates II LLC will refinance its existing mortgage with First Niagara Bank, with KeyBank National Associates in the amount of $30 million. The loan is expected to be sold to Freddie Mac. The project, authorized in 2010, involved building and equipping a two-building, 208-unit senior housing facility at 9500-9510 Transit Road.

The other request was by 60 Pineview Drive LLC to refinance its existing mortgage with a new mortgage in the amount of $750,000. S&T Bank of Pennsylvania will provide the financing. 60 Pineview Drive LLC’s original project, authorized in 1996, was to build a manufacturing medical laboratory for IMMCO Diagnostics.