January,23, 2015

The monthly meeting of the City of Hornell Industrial Development Agency was held on Friday January 23, 2015, at 4:00 PM, at 40 Main Street, Hornell, NY.

PRESENT: Samuel Nasca, Chairman
               George Prete, Vice Chairman
               Shawn Hogan, CFO, Treasurer
               Joseph Foreman, Secretary

ABSENT: David Parmley, Asst. Treasurer

ALSO: James Griffin, CEO, Executive Director
          Wanda White, Administrative Asst.
          John Dagon, Agency Attorney
          Margaret Frungillo

Chairman Nasca called the meeting to order at 4:20 PM. Joseph Foreman, Secretary, presented the minutes of the 12/11/14 meeting. A motion was made by George Prete, seconded by Shawn Hogan to accept the minutes of the 12/11/14 meeting as presented. Carried All.

COMMITTEE REPORTS

Audit Committee – George Prete, Chairman of the Audit Committee, stated that the Audit Committee met on 1/23/15 and approved bills in the operating account for the amount of $102,120.75 for December and January and in the amount of $809,454.20 in the escrow account for January. A motion was made Joseph Foreman, seconded by Shawn Hogan to approve the actions of the Audit Committee. Carried All.

Personnel Committee – Chairman Hogan stated that they had offered the Executive Director an extension of his contract and the details will be discussed with Chairman Nasca.

A motion was made by George Prete, seconded by Joseph Foreman, to enter into Executive Session under Public Officers Law, Article 7, Open Meeting Law, Section 105, paragraph D, to discuss personnel matters.

The meeting reconvened at 4:35 PM

Governance Committee – Chairman Nasca stated that he had received a letter from Wanda White stating that she will be retiring effective April 1, 2015. Chairman Nasca requested that it be on official record that the Board appreciates Wanda White's 35 years of service and dedication. A motion was made George Prete, seconded by Joseph Foreman to approve the request of the Chairman. Carried All.

Chairman Nasca reported that the Economic Development Handbook issued in January 2015 has changes pending the legislative session.

Chairman Nasca reported that the board will be attending The 2015 IEDC Leadership Summit in West Palm Beach, Florida, January 24-27th.

CEO REPORT

Director Griffin reported that the agreements between the IDA, the City, The Village of North Hornell and the Town of Hornellville regarding the annexation of the Airport and the adjoining 5 acres to the City have been signed by all parties; in return Lowe's agreed to pay the current Pilot payment.

Director Griffin reported that he and Mayor Hogan had met with the Governor's

office and Alstom administration in Albany regarding their new project. The Governor's representatives were very cooperative and stated that as soon as they receive a contract the funding will be available.

The representative's also stated that there is 500 million dollars which may be available for use in the Southern Tier. Mr. Griffin stated that he has been working on a project to redo the SKF Building and make it a campus for training high speed transit for MBE and WBE. The cost of this project is an estimated $5 million.

Director Griffin is also working on a project at the South Yards to extend the trackage in order to unload cars and general rail. This project is estimated to cost approximately $6 ½ million.

Director Griffin reported the Friendly Sons and Daughters Annual Dinner will be held on March 5, 2015. Griffin requested the board approve reserving a table.

Chairman Nasca stated that the board had approved this in previous years and it was for a good cause therefore the board should approve. Carried All.

Director Griffin reported that the 2015 IEDC Conference is being held on October 5-7th in Anchorage Alaska. He suggested the board make reservations for six rooms immediately.

OLD BUSINESS

Vice Chairman Prete inquired if there anyway that the IDA assist with the Health Care Facility. CFO Hogan stated that the hospital is already tax-exempt there is no benefit that the IDA can offer. He further stated that all possibilities are being considered.

Griffin said the Agency received a letter from the Krog Corporation requesting an extension of their tax exemption status for the Federation Building project to December 2015. This extension is recommended as they have completed Phase 1 of the project and are entering Phase 2 of the project in 2015, which will complete the auditorium. A motion was made by George Prete, seconded by Joseph Foreman, to extend the tax exemption. Carried All.

There being no further business, the meeting was adjourned upon motion by George Prete, seconded by Joseph Foreman. Carried All.

Respectfully Submitted,

Joseph Foreman, Secretary