Ogdensburg authority approves duty-free store deal

OGDENSBURG — The Ogdensburg Bridge and Port Authority board of directors has approved a long-term agreement with Ammex Tax & Duty Free Shops Inc. to lease space on the approach road to the bridge.

“The Ammex Duty Free store is a nice facility to have at the Ogdensburg crossing,” said Wade A. Davis, the authority’s executive director. “We are very pleased that we reached a long-term agreement.”

The 10-year deal keeps in place the current Duty Free Americas shop at 102 Bridge Approach Road.

Under the agreement, Ammex Tax & Duty Free Shops Inc. will pay the authority a percentage of gross annual sales from the duty-free portion of its sales, with a minimum lease of $100,000 per year.

“Essentially the store is two units,” Mr. Davis said. “There is the part that sells cigarettes, alcohol and perfume; that is the duty-free side. There is also the Country Store side that sells other merchandise. We would be getting our percentage from the duty-free side of the business.”

The lease will extend from June 1 to May 31, 2022. In the first year of the agreement, the authority will be entitled to 25 percent of the store’s gross annual sales up to $500,000, with that number increasing to 30 percent in the final year of the deal. The company will pay the authority 30.1 percent of the gross for annual sales in excess of $500,000.

The company has had a one-year agreement with the authority for a minimum annual lease of $75,000.