IDA Helping With Sale Of Cassadaga Businesses | News, Sports, Jobs

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IDA Helping With Sale Of Cassadaga Businesses | News, Sports, Jobs

The Chautauqua County IDA helps Hy-Wit Company buy Kwik Fill, King Kone and the Fermentation Station in Cassadaga from Denison Enterprises.
Photograph by Gregory Bacon

The Chautauqua County Industrial Improvement Company is doing its half to assist facilitate the sale of the Cassadaga Kwik Fill and its close by companies.

Throughout the county IDA assembly, the board agreed to a $100,000 working capital mortgage to Hy-Wit Company as it’s within the course of of buying three energetic companies from Denison Enterprises.

In keeping with Carol Rasmussen, enterprise growth supervisor with the county IDA, the full challenge is $1.three million, with Cattaraugus County Financial institution loaning $1 million. The company is headed by Christian Hy and Alec Witkowski. “They’re going to buy the land, buildings and the enterprise. It consists of 14 acres, 9 parcels, and is positioned on Route 60 in Cassadaga,” she stated.

The enterprise contains the fuel station, the handy retailer, King Kone ice cream store and the Fermentation Station liquor retailer. There’s additionally a closed auto restore store behind the fuel station and a storage constructing. The companies are owned by Tammy Denison who owned it together with her late husband Mark, who handed away in 2017.

In keeping with Rasmussen, Hy is a licensed mechanic and plans on reopening the auto restore store. They wish to use the storage constructing for business storage of snowmobiles and boats.

“Final week we met with Tammy. She’s very completely satisfied concerning the sale. The gents are very enthusiastic. … Everyone seems to be on board with this to proceed. It fills the hub of Cassadaga,” stated Rasmussen.

Future plans for the property embody a automotive wash and presumably mining for gravel in a close-by pit.

IDA board member Mark Odell can also be a county legislator whose district contains the village of Cassadaga. He praised the transfer. “I feel that is going to be an amazing challenge. It’s a great utilization of the IDA sources. The marketing strategy offered is sound,” he stated. “I”m actually glad to see a pleasant succession plan for the household.”

The decision was handed unanimously.

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