OrdinanceNo.2012
ORDINANCEAUTHORIZINGANAGREEMENTBETWEENTHECITYOFSYRACUSE,THECITYOFSYRACUSEINDUSTRIALDEVELOPMENTAGENCYANDCAMERONHILLCONSTRUCTION,LLCFORANNUALPAYMENTSINLIEUOFTAXESWITHRESPECTTOTHEPROPERTYLOCATEDAT601UNIVERSITYAVENUE,SYRACUSE,NEWYORK
BEITORDAINED,thattheMayor,onbehalfoftheCityofSyracuse,beandsheisherebyauthorizedtoenterintoathirty(30)yearPayment
In
LieuOfTaxAgreement("PILOT")withCameronHillConstruction,LLC,coveringthepropertylocatedat601UniversityAvenue,Syracuse,NewYork;paymentsunderthisagreementwouldbemadeasifthepropertywerestillownedbyCameronHillConstruction,LLCandprivatelyassessed,subjecttotheexemptioncontainedinSection485-boftheNewYorkRealPropertyTaxLaw,withpaymentsundertheAgreementtobemadepursuanttotheattachedExhibit"B";andBEITFURTHERORDAINED,thatthePILOTagreementauthorizedhereinshallcontainthefollowingconditionsthatmustbecompliedwithinorderforthepaymentscheduledtoremaininfullforceandeffectnamely:1.CameronHillConstruction,LLC("Cameron"),itssuccessorsorassigns,shallhireten(10)minorityunemployedorunderemployedindividualstoworkontheconstructionoftheapproximately85,000squarefootbuildingthatCameronwillconstructtohousethenewSyracuseUniversityBookstore,FitnessCenterandapproximately7,300squarefeetofcommercialretailspaceonthesiteadjacenttotheUniversityAvenueGaragebetweenAdamsandHarrisonStreets(the"Building").Cameronwilldirectly,orthroughitscontractor,hireten(10)