LOCKPORT – The Town of Lockport Industrial Development Agency has agreed to sell another 12 acres of land in the town industrial park to the Internet giant Yahoo.
The company’s $194,850 purchase of the land immediately east of its existing 190,000-square-foot data center also includes an agreement that the town will abandon to Yahoo a portion of Crown Drive, a road in the industrial park adjoining the data center’s electrical substation.
The per-acre price of $16,237 is slightly more than the $15,000 per acre that Yahoo paid for its current 30-acre holding in 2009.
The $150 million data center, which opened the following year, employs 75 people. A second phase was completed in June 2011.
David R. Kinyon, town IDA executive director, said Yahoo has not informed the town about the timeline for its plans to develop the newly purchased land, nor how many jobs might result.
Also at its meeting last week, the IDA board approved the sale of three acres on Enterprise Drive in the industrial park to McGuire Development, which is heading a consortium of companies that plans to construct a business incubator building.
The IDA charged McGuire $15,000 for the three-acre site, which is well below the list price of $25,000 an acre for undeveloped land in the industrial park off Upper Mountain and Junction roads.
The incubator, to be developed by McGuire, R&P Oak Hill Development and Wendel Cos., will start with a building of at least 10,000 square feet, which will be expandable.
McGuire also was granted a purchase option on two more plots of land, each comprising two acres, for possible additional buildings.
The IDA had sought additional industrial space in the town, leading to its decision to pursue an incubator project.
Building Inspector Brian Belson said McGuire’s site plan for the first building is expected to be on the November agenda of the town Planning Board.
The IDA also approved a five-year tax break for Spartech Polycom, a parts supplier to the nearby GM Components plant. The industrial park tenant will receive a 50 percent property tax abatement in 2013, a percentage that will decrease by 10 percentage points per year thereafter.