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A medical/technical park has been proposed for a 17-acre site on West Street in the City of Newburgh. When completed, the project will encompass 55,000-75,000 sq. ft., divided into five buildings. The total project cost is roughly $8 million, including $400,000 for construction of an access road and infrastructure.
Update - October 2007
The City’s application to the New York State Department of Environmental Conservation (DEC) for participation in the Environmental Restoration Program (ERP) for the clean-up of the ash pit on the upper most portion of the property has been accepted and approved.
This will now allow DEC to release the lower four (4) lots for development under the Voluntary Clean-up Agreement since all environmental remediation has been completed on those lots. Northeast Industrial Development, developer for the privately held lots, has received a renewal for its site plan approval for the first building lot (Lot #3). Northeast has notified the City of its intent to break ground for this first site before the end of the year.
Update - June 2007
Several steps have been taken to obtain a release of any remaining environmental restrictions on the property.
One remaining contaminated piece of the property, the ash pit in the southwest corner, has been segregated by a lot line change approved by the planning board. The parcel is now owned by the City, allowing us to apply for remediation by DEC under the Environmental Restoration Program (ERP). The ERP will pay for 90% of remediation costs and 100% of the cleanup required on adjacent parcels. This cleanup will allow for its future development separate from the rest of the West Street project.
With the ERP application demonstrating the City’s plans for the ash pit, we expect a release shortly from DEC under the joint Voluntary Cleanup Agreement for the five (5) development parcels. This will remove any encumbrance to financing and developing the properties.
Simultaneously the U. S. Economic Development Administration (EDA) has amended the grant agreement with the City and the IDA to allow the bulk of the grant funds to go to environmental cleanup and infrastructure. The incubator will be done by a private developer under a land lease with the IDA. We are developing a land lease for EDA approval. Once the lease is approved, the IDA will issue a Request for Proposals to potential developers for the construction of the incubator building.
The amendment to the grant and EDA approval of the lease will allow the City to begin submitting vouchers to EDA for reimbursement under the grant. We expect this to take place within the next 60 days.
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