June 24, 2010

A regular meeting of the City of Hornell Industrial Development Agency was held on Thursday, June 24, at 5:00 PM, at 40 Main Street, Hornell, NY.

PRESENT

Samuel Nasca, Chairman
Shawn Hogan, Treasurer
George Prete, Vice Chairman
Dave Parmley, Asst. Treasurer

ABSENT

Joseph Foreman, Secretary

ALSO

James Griffin, Consultant, CEO
Tyler Briggs – Evening Tribune Reporter
Wanda White, CFO, Admin. Asst.
John Dagon – Agency Attorney

 

Chairman Nasca opened the meeting at 5:00 PM.

MINUTES

The minutes of the 4/29/10 meeting were presented by Chairman Sam Nasca.  A motion was made by Dave Parmley, seconded by George Prete to approve the minutes as presented.  Carried All.

FINANCIAL REPORT

The audited financial report for the months of April  and May 2010 was presented by Treasurer Shawn Hogan.  A motion was made by Shawn Hogan, seconded by Dave Parmley to approve the financial reports as presented.  Carried All.

AUDIT COMMITTEE

Audit Committee Chairman George Prete stated the Audit Committee had met on 5/26/10 and approved bills in the amount of $64,430.53 and again on 6/24/10 and approved bills in the amount of $73,410.50.  A motion was made by Dave Parmley, seconded by Shawn Hogan, to approve the actions of the Audit Committee.  Carried All.

PERSONNEL COMMITTEE

Personnel Committee Chairman Shawn Hogan stated he had no report.

GOVERNANCE COMMITTEE

Governance Committee Chairman Nasca stated that he had no report at this time.

NEW BUSINESS

FIVE STAR BANK – A Resolution was presented to open a new checking account at the Five Star Bank.  The reason being there is a higher rate on our CD’s if we have an existing account.  A motion was made by Dave Parmley, seconded by George Prete to accept the Resolution.  The resolution ws put to a vote on roll call:

Nasca – YeaPrete – Yea
Hogan – YeaParmley – Yea

The Resolution was thereupon duly passed.

 

NIAGARA HOLDING – Griffin presented a letter for extension of a sales tax exemption for Niagara Holding.  Dr. Dahliwal stated in his letter that all the equipment they had ordered had not been received as yet and needed to extend to 12/31/10.  A motion to authorize Griffin to extend the sales tax exemption to 12/31/10 was made by Shawn Hogan, seconded by Dave Parmley.  The Resolution was put to a vote on roll call, which resulted as:

Nasca – YeaPrete – Yea
Hogan – YeaParmley – Yea

The Resolution was thereupon duly passed.

 

MODERN STANDARD LATHE – Griffin stated that a new site for the new company has been selected and asked for approval of a land survey at a cost of $2,000.00.  A motion was made by George Prete, seconded by Dave Parmley to have the land surveyed at a price of $2,000.00.  The Resolution was put to vote on roll call:

Nasca – YeaPrete – Yea
Hogan – YeaParmley = Yea

The Resolution was thereupon duly passed.

 

ANNUAL MEETING

After discussion for the Annual Meeting, the Board  has set the date for July 29, 2010 at the home of James Griffin.  Notices will be sent out.

OLD BUSINESS

None

There being no further business, the meeting was adjourned at 5:30 PM.

 

Respectfully Submitted,
Joseph Foreman, Secretary