ELLICOTTVILLE — The redevelopment of the Manufacturer’s Hanover Bank building in Olean took another step forward Tuesday with approval of the $11.7 million project by the Cattaraugus County Industrial Development Agency.
The developer, Savarino Companies LLC of Buffalo, “is very anxious to get going,” IDA Executive Director Corey Wiktor told the IDA board of directors.
Savarino is readying requests for proposals from local contractors including Duggan & Duggan, Crisafulli Construction and Mazza Mechanical Services, Wiktor said.
“The bids could be going out any day,” he said, adding that using local contractors will keep costs down.
The Cattaraugus County Legislature will need to approve a finding that acknowledges the project includes a mix of residential, not-for-profit, commercial, retail and service uses.
In addition, it is part of the Walkable Olean Project, encourages future residential and commercial development and increases job opportunities.
The first floor of the bank building will include about 5,000 square feet of retail space, although a tenant has not been identified. The non-profit Council on Addiction Recovery Services (CAReS) will lease about 8,000 square feet of space for administrative and training offices. The remainder of the top floors will be 21 market rate apartments.
The construction timetable is around 18 months, Wiktor told the IDA board.
Savarino is taking advantage of the IDA’s adaptive reuse program for incentives that total around $400,000 over 10 years. In addition, the developer will utilize historic tax credits as the building is in an Olean Historic District.
The attached Siegel Shoes Store at 107 N. Union is included in the project. Wiktor said the Siegel building may be part of a community space that is part of the project.
IDA board members also approved a resolution stating the project is a type I action under the State Environmental Quality Review Act (SEQRA).
Incentives for three solar farm projects in the town of Portville and one in the town of Machias worth a total of $28.1 million were also approved by the IDA board.
The three Portville solar farms proposed by Dimension Energy are worth about $25 million. They are at 2188 S. Windfall Road, 118 acres, and 67 acres off Haskell Road and Haskell Parkway that will be subdivided into two solar arrays. Each solar farm is rated at 4.5 megawatts.
The P.I.L.O.T. for the three solar farms is expected to save the developer more than $300,000 over 25 years.
Final approval of the project is expected in September after the company agrees to a host community agreement with the Town of Portville and the town board issues a letter of support.
The Machias project by Machias PV, LLC and RIC New York LLC is a 2-megawatt, community-based solar installation near Route 242 in the town. It is a $3.1 million project.
The solar projects will receive a 25-year payment in lieu of taxes (P.I.L.O.T.) of $6,000 a year per megawatt. The tax payments are divided between the town, school and county. The P.I.L.O.T is expected to save the developer $100,000 over 25 years.
The board also accepted an application for assistance from Essential American Products, Inc., Ellicottville, for the first project under the IDA’s new Personal Protection Equipment sales tax exemption program.
The program allows companies to seek up to $99,000 in sales tax exemptions to manufacture hand sanitizer products and soap.
Essential American Products, Inc. is proposing to invest approximately $1 million to support a manufacturing project in the Town of Ellicottville. The project will create eight to 12 jobs over the next 12 to 16 months.
The project will include a 4,300-square-foot addition to the Steelbound Brewery on Route 219, and the spin-off of the existing hand sanitizer and soap business to the new company, Essential American Products Inc.