October 24, 2014

A regular meeting of the City of Hornell Industrial Development Agency was held on Friday, October 24, 2014, at 3:00 PM.

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

ABSENT: Joseph Foreman, Secretary

ALSO: James Griffin, CEO, Executive Director
Wanda White, Admin. Asst.
John Dagon, Attorney
Bonnie Palmer, Regional Director, NYS Empire State Development
Bill Murphy, Reporter

Chairman Nasca called the meeting to order at 3:00 PM. In absence of the Secretary, Chairman Nasca presented the minutes of the 9/25/2014 meeting. A motion was made by Dave Parmley, seconded by George Prete to approve the minutes of the 9/25/14 meeting. Carried All.

Treasurer Shawn Hogan presented the audited financial statements for September. A motion was made by George Prete, seconded by David Parmley 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 10/24/14 and approved bills in the amount of $53,202.82 from the operating account, and $385,058.98 from the Escrow Acct. A motion was made by Dave Parmley, seconded by Shawn Hogan, to approve the actions of the Audit Committee. Carried All.

Personnel Committee – No report

Governance Committee – Chairman Nasca reported that the Agency would be changing their year-end to December 31, 2014 and that By-laws, etc. would be changed to reflect the end of year dates.

Chairman Nasca presented a resolution for PARA and PAAA stating that the Agency reviewed all compliances and procedures. A motion was made by Shawn Hogan, seconded by George Prete to adopt the Resolutions as reviewed by the Board. The Resolution was duly 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 – Absent

The Resolutions were thereupon duly passed.

EXECUTIVE DIRECTOR'S REPORT

South Yards – Griffin stated that the Agency needed to complete a SEQR process on an additional 11 acres at the South yards to be shovel-ready. A Resolution to authorize Griffin to employ Lu Engineers to finish the SEQR process at the South Yards, was presented by Shawn Hogan, seconded by Dave Parmley. The motion was put to a vote on roll call, which resulted as follows:

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

The Resolution was duly adopted.

Executive Director Griffin presented the budget for 1/1/15 – 12/31/15. Griffin stated that a nine-month budget for 04/01/14 – 12/31/14 was also reviewed.

A motion was made by Shawn Hogan, seconded by Dave Parmley, to amend the pre-approved annual budget which extended from 4/1/14-12/31/14 to reflect a nine month budget. Carried All.

Griffin stated he has been checking with our Lawyers, Accountants, and the ABO on changing the Agency's year end date to 12/31/15 to coincide with the IDC year ending. A Resolution was presented upon motion by Dave Parmley, seconded by George Prete to change the City of Hornell Industrial Development Agency's fiscal year end from March 31st to Dec 31st and to amend our 2014 budget to reflect a 9 month budget from 4/1/14-12/31/14. Carried All.

A new Pilot Distribution was also discussed. A motion was made by George Prete, seconded by Shawn Hogan to accept the PILOT distribution for the 2015 year as presented. Carried All.

A Resolution was presented on motion from Dave Parmley, seconded by George Prete, authorizing the CHIDA to take title to or a leasehold interest in certain property located at 191 Main Street in the City of Hornell, appointing Spotlight Theater of Warsaw, LLC (the Company) as its agent for the purpose of renovation and equipping of an existing Theater. The financial assistance provided to the Company by the Agency will not exceed $100,000 and therefore a public hearing is not required. Based upon review by the Agency of the application submitted by the Company, the project will result in no potential significant adverse environmental impact. Mr. Griffin presented an analytic board report regarding basic information on the Spotlight Theater project and estimated benefits for the Company. We will provide financial assistance to the Company in the form of tax exemption. A letter of justification from Shawn Hogan, Mayor of Hornell, is also attached.

The motion was put to a vote on roll call which resulted as follows:

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

The Resolution was duly adopted.

REDEC – CEO Griffin stated that he had received a request from REDEC asking for participation in a local match of $3,600 for five years to REDEC which the IDA has previously done. A motion was made by Dave Parmley, seconded by George Prete to participate in the local match for the next five years. Carried All.

Executive Director Griffin requested an executive session to talk of land acquisitions. A motion was made by Shawn Hogan, seconded by George Prete to enter into Executive Session under Public Officers Law, Article7, Open Meeting Law, Section 105, paragraph D. Carried All.

The meeting reconvened at 4:00 PM.

AMEXSTRA – Griffin stated that the Building we own that Amexstra is renting is in need of electrical repairs. A motion was made by Shawn Hogan, seconded by George Prete to spend up to a maximum of $10,000 for electrical improvements at 27 Bank Street. Carried All.

There being no further business, the meeting was adjourned at 4:15 PM.

Respectfully submitted,

Joseph Foreman, Secretary