July 18, 2013

A Special meeting of the City of Hornell Industrial Development Agency was held on July 18, 2013, at 4:00 PM, at 40 Main Street, Hornell, NY.

PRESENT: Samuel Nasca, Chair
George Prete, Vice Chair
Shawn Hogan, CFO, Treasurer
David Parmley, Asst. Treasurer
Joseph Foreman, Secretary

ALSO: James Griffin, Executive Director
Wanda White, Admin. Asst.
Jeff Cole, Reporter – Evening Tribune

Chair Samuel Nasca opened the meeting at 4:10 PM.

MINUTES

Secretary Joseph Foreman made a motion to accept the May 30, 2013 minutes. Motion was seconded by Shawn Hogan. Carried All.

FINANCIAL REPORT

Treasurer Shawn Hogan presented the financial report for the months of May and June 2013 as reviewed by our accountants Mengel Metzger, & Barr. A motion was made by David Parmley, seconded by George Prete, to approve the financial reports as presented. Carried all.

Mr. Griffin explained to the Board that the Auditors did balance the PILOT Receivables and Payables. He stated it was a bookkeeping problem and should now match each month.

AUDIT COMMITTEE REPORT

Audit Committee Chairman George Prete stated the committee had met on 7/18/13 and approved bills for May and June in the amount of $142,903.78 and approved bills for July in the amount of $109,899.49. A motion was made by David Parmley, seconded by Shawn Hogan to approve the actions of the Audit Committee. Carried All.

PERSONNEL COMMITTEE

No Report.

GOVERNANCE COMMITTEE

No Report.

SPECIAL MEETING REPORT

Executive Director Griffin stated that the Special meeting was to consider a sale of property. Executive Director Griffin requested the Board enter into executive session to discuss the negotiations for sale of property.

EXECUTIVE SESSION

A motion was made by Dave Parmley, seconded by George Prete to enter into Executive Session under Public Officers Law, Article 7, Open Meeting Law, section 105, paragraph D. Carried All.

The meeting reconvened at 4:45 PM. Executive Director Griffin reported that he was approached last month by Jet Smart, the operators of the Hornell Airport and the Company that leases the Navajo Airplane from the Agency. He stated that in their lease agreement, they had the option to purchase the Agency's airplane for a price to be agreed upon when they exercised their option. Jet Smart met with Griffin and renegotiated a deal with Jet Smart to sell the airplane, take a 10 year mortgage on the plane, and still operate out of Hornell. Jet Smart already has customers set up and the plane has been overhauled.

A Resolution to sell the airplane to Jet Smart Aviation was presented. A motion was made by Shawn Hogan, seconded by Joseph Foreman to accept the Resolution as presented. The motion was put to a vote on roll call, which resulted as follows:

Samuel Nasca – Aye
George Prete – Aye
Shawn Hogan – Aye
David Parmley – Aye
Joseph Foreman - Aye

The motion was duly carried.

There being no further business, the meeting was adjourned at 5:25 PM upon motion from Shawn Hogan, seconded by Dave Parmley. Carried All.

Respectfully Submitted,

Joseph Foreman, Secretary