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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.