IDA Helping With Sale Of Cassadaga Businesses
The Chautauqua County Industrial Development Agency is doing its part to help facilitate the sale of the Cassadaga Kwik Fill and its nearby businesses.
During the county IDA meeting, the board agreed to a $100,000 working capital loan to Hy-Wit Corporation as it is in the process of purchasing three active businesses from Denison Enterprises.
According to Carol Rasmussen, business development manager with the county IDA, the total project is $1.3 million, with Cattaraugus County Bank loaning $1 million. The corporation is headed by Christian Hy and Alec Witkowski. “They’re going to purchase the land, buildings and the business. It consists of 14 acres, 9 parcels, and is located on Route 60 in Cassadaga,” she said.
The business includes the gas station, the convenient store, King Kone ice cream shop and the Fermentation Station liquor store. There is also a closed auto repair shop behind the gas station and a storage building. The businesses are owned by Tammy Denison who owned it with her late husband Mark, who passed away in 2017.
According to Rasmussen, Hy is a licensed mechanic and plans on reopening the auto repair shop. They would like to use the storage building for commercial storage of snowmobiles and boats.
“Last week we met with Tammy. She’s very happy about the sale. The gentlemen are very enthusiastic. … Everyone is on board with this to continue. It fills the hub of Cassadaga,” said Rasmussen.
Future plans for the property include a car wash and possibly mining for gravel in a nearby pit.
IDA board member Mark Odell is also a county legislator whose district includes the village of Cassadaga. He praised the move. “I think this is going to be a great project. It’s a good utilization of the IDA resources. The business plan presented is sound,” he said. “I”m really glad to see a nice succession plan for the family.”
The resolution was passed unanimously.