Meeting Minutes

April 25, 2013

The monthly meeting of the City of Hornell Industrial Development Agency was held on April 25, 2013, at 3:00 PM, at 40 Main Street, Hornell, NY.

PRESENT: Samuel Nasca, Chairman
               Joseph Foreman, Secretary
               Shawn Hogan, Treasurer
               David Parmley, Asst. Treasurer

ABSENT:  George Prete, Vice Chairman

ALSO:      James Griffin, CEO, Executive Director
               Wanda White, Administrative Asst.
               Jeff Stone, Reporter, Evening Tribune
               Bill Dugan, WLEA

Chairman Nasca called the meeting to order at 3:00 PM.

MINUTES

Secretary Joseph Foreman made a motion to accept the March 14, 2013 minutes and the April 10, 2013 Special Meeting Minutes. Motion was seconded by Shawn Hogan. Carried All.

FINANCIAL REPORT

Treasurer Shawn Hogan presented the financial report for the month of March 2013 as reviewed by our accountants Mengel Metzger, & Barr. A motion was made by David Parmley, seconded by Joseph Foreman to approve the financial report as presented. Carried All.

AUDIT COMMITTEE

In absence of Committee Chairman George Prete, Chairman Nasca stated the committee had met on 4/25/13 and approved bills in the amount of $69,853.61 for the months of March and April. A motion was made by David Parmley, seconded by Joseph Foreman 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 reported that Griffin, Parmley, Foreman, Prete, and Nasca attended the IDC Federal forum in Washington DC and it was very educational. He stated the Board would be traveling to Saratoga Springs to attend a NYS EDC educational meeting in May. Nasca reported on the new legislation included in the Governors 2013 budget. Mr. Griffin added that the legislation would establish new record keeping and reporting requirements for IDA projects that receive sales tax exemptions, enacted new sales tax exemption recapture requirements and reinstated the prohibition of IDA financial assistance for retail projects except for distressed areas or goods and services not readily available in the area. These are the exceptions we used for Walmart and Lowes. A motion was made by David Parmley, seconded by Shawn Hogan to accept the Governance Committee's report. Carried All.

EXECUTIVE DIRECTOR'S REPORT

IRON HORSE DEPOT

Executive Director Griffin stated that STREDC had approved the Iron Horse Depot Project and the Peebles Project. He would expect a closing within 30 days. Because of the urgency of getting the Depot ready for the Iron Horse Depot to move into, the vendors working there will need to be paid and suggested we allotted up to $100,000.00 for payment to contractors until loan money comes in. A motion was made by David Parmley, seconded by

Shawn Hogan to authorize the Agency to pay the renovation work as it is submitted by Iron Horse Depot until our loan is received under our expedited payment provision. The motion was put to a vote on roll call, which resulted as follows:

                                  Nasca – Aye               Hogan – Aye
                                  Parmley – Aye            Foreman – Aye
                                  Prete – Absent

The motion was duly carried.

Executive Director also stated that part of the negotiations with Peter Wall, President of the Iron Horse Depot, was to redo the exterior of the building. Bricks needs to be pointed up, 112 windows and 24 doors need to be repaired, cleaned, and prepped, and eaves need to be repaired and the building needs to be pressure washed. We will send out bids for this project and will get back to the Board. A motion was made by Dave Parmley, seconded by Shawn Hogan to have Griffin send out bids for this project.

NEW BUSINESS

Executive Director Griffin stated there would be an IEDC Seminar in Ann Arbor, Michigan June 8-11th and asked for members to let him know of their attendance.

Executive Griffin stated we needed to enter into Executive Session to discuss a financial proposal for a new prospect. A motion was made by Dave Parmley, seconded by Joseph Foreman to enter into Executive Session under Public Officers Law, Article 7, Open Meeting LAW, Section 105, paragraph D. Carried All.

The meeting reconvened at 4:00 PM. There being no further business, the meeting was adjourned at 4:15 PM upon motion from Shawn Hogan, seconded by Joseph Foreman. Carried All.



Respectfully Submitted,
Joseph Foreman, Secretary