September 19, 2018

A special meeting of the City of Hornell Industrial Development Agency was held on Wednesday, September 19, 2018, at 4:00 PM.

PRESENT: Samuel Nasca, Chair
George Prete, Vice Chair
John Carbone, Secretary
John Buckley, Assistant Treasurer

Absent: Dave Parmley, , Treasurer, CFO

ALSO: James Griffin, CEO, Executive Director
Margaret Frungillo, Administrative Assistant
William Dugan, WLEA
Maya Buckley

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

Trikeenan Tileworks- Executive Director Griffin stated that the Agency and the Company have reached an agreement to terminate the Lease Agreement as of the date hereof.

A discussion was held regarding the forgiving of past due payments. It was pointed out that the company, in the past, paid down the CHIDA mortgage by over $500,000. This agreement also avoids prolonged legal procedures as pointed out by Chairman Nasca. Vice Chairman Prete questioned what would our recourse be if they defaulted on this agreement. Griffin stated if the weekly payments were not received then we would close the plant. If future payments are not made we would have to start legal action.

A motion was made by John Buckley, seconded by John Carbone to authorize the Executive Director, James Griffin, to sign said lease termination agreement.

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

Samuel Nasca – Aye
George Prete – Aye
John Carbone- Aye
John Buckley- Aye
Dave Parmley – Absent

The Resolution was duly adopted.

There being no further business the meeting was adjourned at 4:18 PM upon motion by John Buckley seconded by John Carbone. Carried All.

Respectfully submitted,

John Carbone, Secretary