by Nicole Reitz
There may be hope for the former Birds Eye plant in Fulton after all.
A company temporarily named 607 Philip Street Acquisition LLC, closed last Thursday on the former Birds Eye plant.
According to Fulton Mayor Ron Woodward, the selling price of the 287,000 square foot facility and surrounding 20 acres of land was $1.2 million. The city recently lowered the tax assessment on the plant by several million dollars.
An agreement made in October will grant the buyer financial assistance in the form of exemptions from property taxes, sales tax and mortgage recording tax. The new owner will make annual payments in lieu of these taxes. In years one to five of the agreement, the company will pay $30,000 annually. By 2024, the company will be paying $60,000 yearly.
A payment in lieu of tax agreement will mean that in the new owner will pay $30,000 in years one to five of the agreement and then an annual payment of $40,000 in years six to eight
At this time, the company has not revealed its name, but it will use the plant as a poultry-processing facility. The company will reveal its identity at the time of their opening, which is expected to open within six months.
The mayor said that 607 Philip Street Acquisition LLC looked at a facility in Buffalo, but was drawn to Fulton because of its existing rail system. In the next few months, the company will need to remodel and buy new equipment for the three existing buildings.