JAMESTOWN – The Chautauqua County Industrial Development Agency met on Thursday morning in Jamestown and acted on a number of resolutions, including the sale of a piece of property in one of the county’s industrial parks, as well as a loan for a new start up brewery in Mayville.
IDA officials approved the sale of the property at 2071 Stoneman Circle to ZTS Development for $1.2 million. The property currently houses the Classic Brass operation, which is leasing space from the county. IDA executive director Kevin Sanvidge says that even with the sale to ZTS, the terms of the long-term lease agreement with Classic Brass will continue, meaning the operation won’t see any impact with the property transfer. Sanvidge also said the IDA will likely consider a PILOT agreement with ZTS later this year.
Also on Thursday the IDA board approved two loans totaling $240,000 for a start-up microbrewery operation in Mayville.
The Big Inlet Brewing operation is a $600,000 project that would be based out of a 3400 sq-ft barn at 6169 Elm Flats Road.
The IDA board approved an Al Tech Loan for $165,000 and a$75,000 CRLF loan. The operators of Big Inlet Brewing, Randy and Brent Henderson, have also received a $300,000 loan from a local bank.
Once open the operation will include a tasting room in the facility, and later, sales of kegs of craft beer. It would have minimum staffing to start, although IDA officials say their business plan does account for growth in employment. They are hoping to open the business on a part-time basis this coming winter.
The IDA board also unanimously approved a resolution to refinancing of RM12A Holdings, LLC, with Keybank National Association. Specific details of what the refinancing entails were not provided during discussion.