County IDA doles out tax exemption for Luther Forest company

BY KEVIN J. ROGERS
kevin@theballstonjournal.com

In a Monday, May 9, hearing at the Malta Town Hall the Saratoga County Industrial Development Agency passed a resolution to finance STEP Tech LLC, the company seeking to build an 89,000-square foot building in NYSERDA’s Saratoga Technology and Energy Park in Luther Forest. The resolution also contained exemptions to state and local sales taxes, the mortgage recording tax and real property taxes granted under the Agency’s Uniform Tax Exemption Policy.

The building is slated to be either leased with a purchase option or bought outright from the IDA by Fillpoint SVG, the internet fulfillment company based in Malta. Close to 77,000 square feet of the new facility is slated to house Fillpoint’s local warehousing operations. The other 12,000 square feet will be leased to a tenant to be determined later.

The project is expected to cost around $6.5 million, including land acquisition, construction, and installation of the facility. The mortgage executed and delivered by the Saratoga County IDA to secure the loan needed by STEP Tech to acquire and develop the land will total around $5.3 million.

The 8-acre parcel to be developed is located at 20 Tech Trail and is currently owned by NYSERDA.

Fillpoint is one of the leading providers of online distribution, fulfillment, and e-commerce services to national retailers in the video game and software distribution industry. Their current headquarters, just off Route 9 and less than a one-quarter mile south of the Stonebreak Road entrance to Luther Forest in Malta, includes 24,000 square feet of warehousing space and 6,000 square feet of office space and was completed in October 2006. The building was the first in Malta to be granted LEED Certification from the US Green Building Council.

Fillpoint distributes Sony PlayStation, Microsoft XBox, and Nintendo Wii game consoles, as well as software for publishers such as Activision, Disney, and Electronic Arts, among others.

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