ST. LAWRENCE COUNTY INDUSTRIAL DEVELOPMENT AGENCY
Resolution No. 12-12-49
December 11, 2012
AMENDING RESOLUTION 12-05-25: ESTABLISHING CONSTRUCTION BUDGET
for CANTON INDUSTRIAL PARK BUILDING
and
ESTABLISHING FAIR MARKET VALUE FOR APPROXIMATELY 19 ACRES OF
UNDEVELOPED LAND at CANTON INDUSTRIAL PARK
WHEREAS, the St. Lawrence County Industrial Development Agency (the “SLCIDA”)
enacted resolution 12-05-25 on May 31, 2012, and
WHEREAS, since that time, the SLCIDA’s Auditing Firm has advised that the majority
of the Project Development Costs should be applied to the asset value, and
WHEREAS, the remaining 19 (approx.) acres within the Canton Industrial Park require
a determination of fair market value,
NOW, THEREFORE, BE IT RESOLVED that the St. Lawrence County Industrial
Development Agency does hereby amend resolution 12-05-25 to modify the following Capital
Budget Items as follows:
Project Development Costs
Design, Engineer, and Site Work, Advertising and Bid
Documents, Legal Fees...................................................... $
Building Construction Costs
Construction Contract Amount, Permits and Water Tap
and Contingency ................................................................ $
Account Number: 255
Asset Expense – Canton Industrial Park Building............. $
Modified
Original
60,000
$
70
1,928,160
$
1,994,590
1,928,160
$
1,994,590
BE IT FURTHER RESOLVED that the St. Lawrence County Industrial Development
Agency does hereby determine that the fair market value of the remaining undeveloped land of
the Canton Industrial Park (approximately 19 acres) shall be equivalent to that ‘per acre” amount
originally paid by St. Lawrence County as part of its Jail project, and
BE IT FURTHER RESOLVED that based on the County’s purchase price of $8,750
per acre, the fair market value of the remaining undeveloped land shall be determined to be
$166,250 and the following Asset Account relative to this assignment shall be established:
128 – Canton Industrial Park ...................................................... $
Move:
Second:
VOTE
Blevins
Hall
LaBaff
McMahon
Peck
Staples
Weekes
Peck
LaBaff
AYE
X
X
X
X
X
X
X
NAY
ABSTAIN
ABSENT
166,250
I HEREBY CERTIFY that I have compared this copy of
this Resolution with the original record in this office, and
that the same is a correct transcript thereof and of the
whole of said original record.
Natalie A. Sweatland
December 11, 2012