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NOTICE OF PUBLIC HEARING
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NOTICE IS HEREBY GIVEN that a public hearing pursuant to Title 1 of Article 18-A of the New York State General Municipal Law will be held by the Town of Hempstead Industrial Development Agency on the 22nd day of April, 2014, at 9:15 a.m., local time, at 350 Front Street, 2nd Floor, Hempstead, New York in connection with the following matters:
The Agency has previously provided its assistance to Parabit Realty LLC, a limited liability company duly organized and validly existing under the laws of the State of New York (the “Company”), consisting of the acquisition of an approximately 1.45 acre parcel of land located at 33-35 Debevoise Avenue, Roosevelt, Town of Hempstead, Nassau County, New York, and the renovation and equipping of an approximately 25,000 square foot existing building located thereon, and leased by the Agency to the Company, and subleased by the Company to, and used by, Parabit Systems, Inc., a New York business corporation (the “Sublessee”), for the manufacture and servicing of security, telecommunication, kiosks and enclosure equipment (the “Original Facility”). The Company has now submitted to the Agency, a proposal to assist in the acquisition, renovation, installation and equipping of the Original Facility (the “2014 Facility”; and, together with the Original Facility, the “Facility”). The Facility will be initially owned, operated and/or managed by the Company.
 
The Agency has previously acquired title to the Facility and will continue to sell the Facility to the Company pursuant to an Amended and Restated Installment Sale Agreement. At the end of the extended Sale Term with respect to the Facility, the Company will purchase that Facility from the Agency. The Agency contemplates that it will provide financial assistance to the Company and the Sublessee in the form of the modification and extension of current abatements of real property taxes, which extension shall be for an additional period of seven (7) years, consistent with the policies of the Agency.
A representative of the Agency will at the above-stated time and place to hear and accept written comments from all persons with views in favor of or opposed to the proposed financial assistance to the Company and the Sublessee or the location nature of the Facility. At the hearing, all persons will have the opportunity to review the application for financial assistance filed by the Company and the Sublessee with the Agency and an analysis of the costs and benefits of the proposed Facility.
Dated:  April 9, 2013	TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY

By:	Frederick E. Parola
Title:	Executive Director 
and Chief Executive Officer