Annual Review
J U N E 2 0 2 6
News Release from Brendan Tydings, Administrator and David Martin, Chairman
The Genesee Valley Regional Market Authority has completed their 75th year of operations, recording gross revenues of approximately $4,500,000.
Cash operating and administrative expenses represent approximately 25% of revenues. The Market Authority does not have any debt. This past year, over $1.5 million was paid in property taxes on Market buildings and improvements. We currently lease to roughly 190 companies.
The Market Authority completed 20,000 sqft of new development at 1861 Scottsville Rd, Rochester, NY 14623. Several people are interested in additional square footage. We are continuing our ambitious capital improvement program. We painted a number of buildings, repaired catch basins, blacktopped multiple areas of the parking lot, and continue to prioritize the safety and security of all market visitors.
We continue to remain at 100% capacity and have numerous requests for additional space from not only existing tenants but new potential tenants as well . We are seeing market values for space here at the market remain stable.
We provided $1,100,000 of support for different agribusinesses and institutions including the New York Wine & Culinary Center (New York Kitchen), Special Touch Bakery, Greater Rochester Enterprise, New York Cider Association, Bishop Kearney High School, Vineyard Farms, Heritage Christian Services, Friends of the Rochester Public Market, Westside Farmers Market, CCE-Monroe County, Green Visions, New York Wine & Grape Foundation and Cornell AgriTech.
The Market Authority continues to work with the Town of Henrietta and Chili on building permits, building inspections, code enforcement and property development. Insurance costs remain minimal as a result of minimizing claims for over 75 years. The authority operates with four full-time employees.
We worked closely with our auditors from Mengel Metzger Barr & Co. LLP to assist in analysis of financial implications so we can make informed decisions.
Looking ahead, we are excited to begin the renovation and an addition of the oldest building at the Regional Market in Wholesale 1. We are excited to begin working with Greater Rochester Enterprise to research the economic impact of agriculture in the Genesee Valley Region . We remain committed to supporting agriculture and we are excited to pursue additional projects to not only showcase all agriculture brings to this region but to help ensure agriculture remains a driving force for the region for years to come.
The Market continues to move forward in keeping with its mission as one of the country's most modern storage and food distribution centers. We would like to thank the members of our staff, our tenants, the Board of Directors and the NYS Department of Agriculture for the goodwill and assistance they have continually exhibited.
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