New York’s development professionals bring expertise, experience, best practices, and the resources of the state and their communities to every project they assist. These case studies are a sampling of those projects.
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United Memorial Medical Center, Batavia, NY
After a merger of two Batavia hospitals, Genesee Memorial and St Jerome’s, United Memorial Medical Center (UMMC) was formed. The new single entity needed to demolish an outdated facility while improving existing facilities. The hospital had been losing money but sorely needed renovations to become profitable and serve the residents of Genesee County.
Project Need (problem)
UMMC needed to rehab the abandoned former St. Jerome Hospital into out-patient radiology, lab and patient care center but traditional financing was a costly option.
Project Solution
The GCEDC, using “Civic Facilities” legislation, was able to provide UMMC with a tax exempt bond enabling the hospital to invest nearly $17 million dollars in the facility while creating 26 jobs and retaining 69. Through the bond, the hospital saved $2.5M in interest payments or $100,000 annually for 25 years. UMMC has become nicely profitable and has enhanced its services to the community. In 2008, the GCEDC approved $315,000 of sales and mortgage tax exemptions and a fixed PILOT (Payment In Lieu Of Taxes) on a $6M project that will develop 34 one bedroom, affordable senior apartments on the upper floors of the once blighted former St. Jerome’s Hospital in downtown Batavia. UMMC is now moving forward with a new $18M project that will add nearly 40,000 square feet of space including new surgical suites and a procedure room with a central sterile core supply space. The GCEDC’s real estate affiliate, the Genesee Gateway Local Development Corporation (GGLDC) is providing a mortgage tax exemption worth $162,500. These three projects, assisted by GCEDC and GGLDC benefits, account for $41M of investment into Genesee County and the City of Batavia.
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New York State Economic Development Council
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New York State Economic Development Council
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Albany NY 12210