HomeMy WebLinkAboutPublic Hearing - Legal NoticeLEGAL NOTICE
Notice of Public Hearing
The Town of Cortlandville will hold a public hearing on Wednesday, January 20, 2021 at
S:OOpm. The public hearing will be held on the Zoom virtual platform. To obtain the credentials
to access the virtual hearing, please contact the Clerk of the Town of Cortlandville at (607) 756-
5725 or visit the Town's website: cortlandville.org for the registration link. The hearing will be
held to solicit public comments on the Town's community development needs, and to discuss
the possible submission of one or more Community Development Block Grant (CDBG)
applications for the 2021 program year. The Town intends to submit an economic development
application to the NYS Office of Community Renewal (OCR) under the CDBG Program to
facilitate the establishment of Seven Valley Specialty Cables and the creation of approximately
22 new jobs, 51% of which will be available to low -to -moderate income persons. The
application will be for an amount up to $330,000.
The CDBG program is administered by the OCR, which provides funds to eligible local
governments for housing, economic development, public facilities, public infrastructure, and
planning activities, with the principal purpose of benefitting low/moderate income persons.
The hearing will provide further information about the CDBG program, the specific economic
development application identified above, and will allow for citizen participation in the
development of any proposed grant applications and/or provide technical assistance to develop
alternate proposals. Comments on the CDBG program or proposed project(s) will be received
at this time. The hearing is conducted pursuant to Section 570.486, Subpart I of the CFR and in
compliance with the requirements of the Housing and Community Development Act of 1974, as
amended.
The hearing is accessible to persons with disabilities. If special accommodations are
needed for persons with disabilities, hearing impairments, or in need of translation from
English, please contact the Town of Cortlandville at (607) 756-5725, at least one week in
advance of the hearing date to allow for arrangements. Written comments may be submitted
to Tom Williams, Supervisor, 3577 Terrace Road, Cortland, NY and must be received by
01/20/21.
Dated: December 31, 2020 Signed: Kristin Rocco-Petre{la, Town Clerk
Seven Valley Specialty Cables is a new business that is growing out of the now defunct Cortland
Cable Company that was located in the City of Cortland up until 2019. Cortland Cable has since
closed its Cortland, New York facility and moved its operations to various other facilities
throughout the United States. Seven Valley Specialty Cables is proposing to produce hi -tech
specialty cables for niche markets such as aerospace, defense, oceanographic, oil and gas, and
seismic offshore uses. 7VSC estimates that it has approximately 135 customers nationwide
which it could procure custom manufacturing contracts with. Many of those customers are
previous customers of the Cortland Cable Company which have been left without manufacturing
partners since Cortland Cable discontinued its New York operations. 7VSC has procured a 5
year lease at its new 21,000 square foot facility at 839 State Route 13 in the Town of
Cortlandville.
Sherwin Nepomucena is the president and principal owner of 7VSC. Sherwin has over 24 years
of experience within the Oil and Gas industry in developing, designing/engineering, and
manufacturing specialized products for onshore and offshore applications. Products include
Seismic cable, ROV tether, Defense products, Diving Umbilical, MUX Cable, Air -Gun
Umbilical, Lead -In cable, Main -Lift umbilical, Aerostat tethers, and many other types of cable.
Mr. Nepomucena also has experience in process engineering that involves developing and
improving processes to increase efficiency, increase productivity, improve manufacturing costs,
and boost profits. Sherwin manages multidisciplinary teams, product development, and scope of
projects. He is responsible for department budgets and profit and loss (P&L) statements. Sherwin
will manage the business startup and will work with the Town of Cortlandville to ensure that all
program requirements are satisfied.
The proposed project will require $330,000 of CDBG funding for a project that will have a total
cost of $825,000. The $330,000 CDBG award will be divided up as follows: $270,000 will be
allocated for the purchase of specialty equipment for the manufacturing of cable, $25,000 will be
used for furniture and fixtures, and $25,000 will be allocated to working capital to support the
business's general operating expenses in the early stages of startup. The business owner also has
a $75,000 equity contribution that is committed to the future purchase of equipment as well as
$420,000 in private loans for equipment.
Project Scope: With the CDBG funds 7VSC is proposing to purchase specialty cable
manufacturing equipment for the start�ip business such as cablers9 excluders, twisters, bunchers5
winders, and braiders. As mentioned, the CDBG budget will also cover $25,000 of furniture and
Fixtures as well as $25,000 of working capital.
To achieve the CDBG National Objective, 7VSC will create 22 new FTE jobs under the CDBG
program. Of the 22 new jobs, 12 of them will be made available to Low -Moderate income
persons.