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For Immediate Release

For Immediate Release

Ratings: (0)|Views: 4 |Likes:
Published by jmouleatcity
Bersin Properties' statement on the state's decision to revoke Medley Centre's Empire Zone status.
Bersin Properties' statement on the state's decision to revoke Medley Centre's Empire Zone status.

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Published by: jmouleatcity on Jun 10, 2014
Copyright:Traditional Copyright: All rights reserved


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"We acknowledge that we have received a notice from the State regarding the possible termination of our Empire Zone certification. The notice provides a 30-day period to appeal the pending decision, which we intend to do. We have had employees working at the site from 2007 into 2013 before we were forced to temporarily mothball the project. We believe we are in compliance'“, said Scott R Congel, Managing Partner, Bersin Properties, LLC. Since current ownership acquired Bersin Properties, LLC and the Medley Center in 2007, the current owners have paid over $7 million in payments to the County, Town and School of which the State provided us $1.5 million in credits. "Any report that current owners have benefitted by $4 million through the Empire Zone is flatly false and misleading. We invite the Assemblyman to meet with our attorneys and accountants to review such outrageous claims. We believe the  Assemblyman is misleading the public by including any benefits the prior owner received from the State. As Assemblyman Morelle is aware, we stepped in and acquired this failing project by acquiring Bersin Properties, LLC.," said Congel. "Assemblyman Morelle and representatives of the Town, County and School District are well aware that we had a lender stop funding in 2009, in violation of their loan agreement, during the worst financial crisis since the depression. The lender still holds a mortgage lien which blocks our ability to progress.,” explained Congel. "We have been prevented from proceeding with the project by events out of our control yet the East Irondequoit Central School District, Town of Irondequoit, and COMIDA want to penalize us for that. They are seeking to impose penalties for failure to proceed with the project. Rather then join together to resolve our differences and move the project forward, they have chosen to litigate. While we believe that their claims for penalties are invalid and unjustified, we made a non-prejudicial offer of $6.4 million to settle all claims and were willing to escrow the first $1.7 million as a show of good faith. " "We believe it would be more beneficial for Assemblyman Morelle to work with us to find a resolution in order to move the project forward. We cannot help but wonder if the Assemblyman has a different agenda by mentioning another developer to replace us. “

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