CITY OF LOCKPORT
State to pay for repairs at Harrison site
LOCKPORT — The city has been approved for a $1.5 million state grant to pay for roof repairs and other maintenance at Harrison Place, the former Harrison Radiator plant that it would like to sell or lease to businesses.
Community Development Director William J. Evert said at Thursday’s meeting of the city development agency that the grant was approved July 17 by the board of the Empire State Development Corp. The last hoop to jump through is a mandatory public hearing that Empire State Development will hold at 1 p. m. Aug. 6 in City Hall.
Evert said work on the roof of the old auto parts plant will probably start next month. “We’re all done except for signing a contract,” he said.
The grant won’t be sent to the city in a lump sum. Instead, the state will reimburse the city after it pays for the work.
City Treasurer Michael E. White said the Common Council already approved a revenue anticipation note, a one-year borrowing, to provide the up-front cash the city will need to hire a contractor. “I’ve done all the preliminary paperwork,” White said.
The Greater Lockport Development Corp., the city’s development agency, will pay the interest on the note. White said he intends to wait until the last possible moment to borrow the money, to reduce interest costs as much as possible. He said the work will probably begin before the money is borrowed.
The city took over the plant, formerly called Commerce Square, in 2006 in a foreclosure after the previous owners, Lockport International Partners, defaulted on a loan from the development agency.
In another matter Thursday, the agency’s board approved a $15,000 loan to Jayne & Company, a downtown women’s clothing store, under its corporate name of East Avenue Apparel.
Evert said the loan is for seven years at 4 percent interest and will be used for working capital.
