LOUSIVILLE – The St. Lawrence River Valley Redevelopment Agency will shell out about $90,000 to spruce up its Massena Industrial Park in the hope of attracting tenants.
The repairs will include patching the roof and vent leaks, replacing doors, repairing plumbing and heating units and an electric inspection.
The total cost of repairs is estimated at $150,000.
The River Agency applied for a grant for the total cost of repairs from the Regional Economic Development Council last year, but was notified in December that it will only receive a $60,000 reimbursement grant.
The River Agency will use $90,000 from its $12.2 million general fund to pay for the repairs.
There are at least four Canadian firms that weve shown the buildings to, St. Lawrence County Industrial Development Agency Deputy CEO and Chief Financial Officer Thomas A. Plastino said. I think one of them is not just kicking the tires. The other three are interested, but they are not as close to striking a deal. We also have several local businesses looking into them as well.
Fockler Industries, the parks only tenant, occupies 9,000 out of the 29,000 square feet of space in both lots.
The buildings were purchased together for $700,000. The River Agency has already spent $17,000 in repairs for the two lots. The industrial park has yielded $12,000 in profit for the agency.
The repairs, board members say, will make the building more marketable to potential tenants.
They are assets, Industrial Development Agency CEO Patrick J. Kelly said. They are not perfect. They werent when you acquired them. They are long term investments. In order to rent these spaces were going to have to make these repairs either now or later.