The Ogdensburg Bridge & Port Authority, a public benefit corporation, develops, operates and manages the Ogdensburg-Prescott International Bridge, the Port of Ogdensburg, Ogdensburg International Airport, the St. Lawrence & Raquette River Railroad, and both the light and heavy industrial parks.
The Authority's objective is to create and retain job opportunities in northern New York and is a fully tax-exempt development organization. The Authority has the mandate and flexibility to enter into a variety of real estate arrangements.
Conventional Lease arrangement. Leases can extend up to a 20-year term at a sq. ft./yr. rate. Under a lease arrangement landscaping maintenance, snow plowing and maintenance of the capital facility remain the responsibility of the Authority as owners while utility costs and operating expenses are the responsibility of the tenant.
Lease/Purchase arrangement. Under this arrangement the tenant/purchaser makes a one-time down payment to the OBPA equal to 15 percent of the cost of the building. The tenant/purchaser would subsequently make monthly payments for a period of up to 20 years. This rate would include maintenance responsibilities similar to the conventional lease arrangement.
Conventional Purchase arrangement of building and land. Under this option the actual cost of the building project would be paid by your firm. The Authority estimates that cost would be approximately $30 to $40/sq. ft. for the building, depending on the specific needs of the client.
The OBPA can also offer tax exemption programs to our clients depending on the facility option chosen. For example, under the conventional lease arrangement described above, the building, land and associated development would be 100 percent exempt from real property taxation since the building would remain the property of the authority.
Under the second option, a lease/purchase arrangement, the facility would be subject to the OBPA's Property Tax Abatement Program. Under this program, the property tax abatement would be:
It should be noted that other areas of the City are also zoned for institutional and industrial development and are fully serviced. The City of Ogdensburg offers two property tax exemption programs.
The first is the Economic Development Zone Real Estate Abatement Program. This offers abatement from property taxes on improvements to property located in the Economic Development Zone. This option is also available for property purchased in the Ogdensburg Bridge & Port Authority's industrial parks. Under this program the tax abatement is as follows:
The second Tax Abatement Program is known as 485-b. It is available throughout the City for commercial or business operation. Under this program the tax abatement is a follows:
The City also maintains a listing of available sites, facilities and pertinent information regarding those parcels.