By RICK MILLER
Olean Star
ELLICOTTVILLE — A local developer is proposing a brownfield cleanup involving one of the last large parcels of undeveloped land in the city of Olean.
A limited liability corporation, 1641 River Street LLC, is proposing a $6 million brownfield cleanup of a 24.7-acre parcel bounded by River Street, Homer Street and Interstate 86.
A smaller triangular wooded parcel off Homer Alley on the south side of the interstate is included in the brownfield cleanup.
Don Benson of Benson Construction and Development Corp., Olean, is the principal owner of 1641 River Street LLC. The property is assessed at $39,900 and taxes are currently $1,800 a year.
Benson, a Cattaraugus County legislator, is seeking inducement for the $6 million brownfield cleanup project from the Cattaraugus County Industrial Development Corp. The sales tax exemption would be worth about $480,000 to 1641 River Street LLC. One job would be retained under the proposal to the IDA.
The land is vacant, said IDA executive director Corey Wiktor. It is adjacent to other brownfield property Benson has cleaned up that he now leases for a solar farm on Homer Street.
The site will be placed in the New York State Brownfield Cleanup Program and will be eligible for several tax credits, said Wiktor. The site was part of the former Saucony Vacuum Co. oil tank farm and contains piping and oil deposits contaminating the soil. The project will involve removing the old pipe and contaminated soil and replacing the soil.
Wiktor said he plans to speak with Olean Mayor Amy B. Sherburne about the project this week. He said he would set a public hearing on the plan in the coming weeks.
The application to the IDA says the applicant will “remediate the property to allow safe and long-term use of the property. The assistance is needed due to the high cost of remediation. This will allow the land to be cleaned and ready for future development.”
Benson has participated in two other brownfield cleanup sites on Franklin Street as well as the Home Street site.
In addition to the IDA sales tax exemption and the brownfield tax credits, ExxonMobil helps pay for the cleanup. The corporation is the successor to Sucony Vacuum.
IDA chairman Thomas Buffamante said it appears to be one of the largest parcels of undeveloped land in the city. He said he thought the best selling point of the brownfield cleanup program are the Phase I and II studies the developer conducts. The state certifies the land as a brownfield cleanup, removing future risk to the purchaser.
Another issue the IDA board discussed on Tuesday was what to do with fees from multi-million projects including the $800 million Great Lakes Cheese plant in Franklinville and the $618 million portion of the Alle-Catt wind farm in Cattaraugus County.
The IDA recently placed more than $3 million of its assets in high interest CDs, Wiktror said.
Wiktor also reviewed the 2025 projects the IDA induced, which totaled $650.3 million including the Alle-Catt wind farm. Backing that mega project out, the IDA induced $32 million worth of projects.
