March 14, 2019

A regular meeting of the City of Hornell Industrial Development Agency was held March 14, 2019, at 4:00 PM, at 40 Main Street, Hornell, NY.

PRESENT: Samuel Nasca, Chair
               George Prete, Vice Chair
               David Parmley, Treasurer
               John Carbone, Secretary
               John Buckley, Asst. Treasurer, Asst. Secretary

ALSO: James Griffin, CEO, Executive Director
          Margaret Frungillo, Administrative Assistant
          John Dagon, Agency Attorney
          William Dugan, WLEA Reporter
           Jason Jordon, The Spectator

Chairman Nasca called the meeting to order at 4:00 PM. Chairman Nasca reported that there was a quorum for the meeting.

Secretary Carbone presented the minutes of the February 13, 2019 meeting. A motion was made by Dave Parmley, seconded by John Buckley to approve the minutes of the 2/13/19 meeting. Carried All.

Treasurer Dave Parmley presented the financial statements for January and February that had been e-mailed to the Board prior to the meeting. A motion was made by George Prete, seconded by John Buckley to approve the financial report as presented. Carried All.

COMMITTEE REPORTS

Audit Committee – Chairman of the Audit committee, George Prete, reported that the Audit Committee had met on 3/6/19 and approved bills in the amount of $43,327.94 for February from the Operating account and $142,526.00 from the Escrow account. A motion was made Dave Parmley, seconded by John Carbone, to approve the actions of the Audit Committee. Carried All.

Personnel Committee – No report

Governance Committee- Chairman of the Governance Committee, Sam Nasca stated that the Committee is still working on updating the By- Laws and Procedures and there will be a number of changes. Nasca also stated that he will be sending out legislation that the state is working on regarding requirements for the IDA's.

Paris Report- Chairman Nasca reported that the PARIS report had been completed and the Board has been sent a copy of the report. The report will be submitted on March 29, 2019 as required by the NYS office of the State Comptrollers. Chairman Nasca requested a motion to approve the submittal of the PARIS report as presented.

A motion was made by Dave Parmley, seconded by George Prete to approve the report as presented.

Carried All.

A motion was made Dave Parmley, seconded by John Buckley, to approve the actions of the Audit Committee. Carried All.

EXECUTIVE DIRECTOR'S REPORT

Park Grove Realty-PG Rockland Silk Mill, LLC Project

Executive Director Griffin reported that PG Rockland Silk Mill, LLC has submitted an application to the Agency requesting the Agency's assistance with the project located at 18 N. Main Street in the City of Hornell in the form of financial assistance, lease agreement, leaseback agreement and a PILOT agreement. An Inducement Resolution was presented to the Board to accept the application as presented authorize a public hearing with respect to the project, and describing the forms of financial assistance being contemplated by the agency with respect to the project. Executive Directive Griffin requested an adoption of the foregoing Resolution. A motion was made by George Prete, seconded by Dave Parmley to accept the resolution as presented. The motion was put to a vote on roll call, which resulted as follows:

Nasca-Aye         Parmley- Aye
Buckley- Aye     Prete- Aye
Carbone- Aye

The Resolution was duly carried.

Alstom- Executive Director Griffin stated that Alstom has requested an extension and increase in the Sales and Use Tax Exemption due to the fact that the original request was based on a project budget of $20,000,000. Due to an expanded production facility, additional work needed for the test track crossing the Canisteo River, and the addition of an End of Cycle Building, the scope of the project has now reached $41,700,000. The expanded project has also changed the estimated completion date from December 31, 2019 to June 30, 2020. Chairman Nasca requested a motion to approve the authorizing resolution to increase the sales tax exemption benefits and extend the agreement date. A motion was made by George Prete, seconded by John Buckley to accept the resolution as presented. The motion was put to a vote on roll call, which resulted as follows:

Nasca-Aye      Parmley-Aye
Buckley-Aye   Prete-Aye
Carbone-Aye

The Resolution was duly carried.

Strobels Supply Inc.- Executive Director Griffin stated that the IDA has closed on the sale of 40 Shawmut Drive to Strobels Supply and they have switched the utilities to their name. They have been working on the building and have signed a waiver of any liability against the Agency arising from the remediation and stabilization of the west wall of the facility.

Respectfully Submitted,

John Carbone, Secretary