City of Syracuse Industrial Development Agency 333 West Washington St, Suite 130 Syracuse, NY Tel (315) Fax (315)

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1 City of Syracuse Industrial Development Agency 333 West Washington St, Suite 130 Syracuse, NY Tel (315) Fax (315) Minutes Industrial Development Agency Board of Directors Meeting Thursday January 24, :00 A.M. Common Council Chambers 304 City Hall 233 East Washington St. Syracuse, NY Board Members Present: William Ryan, John Gamage, Pamela Hunter, Donald Schoenwald, Esq. Excused: Catherine Richardson, Esq. Staff Present: Ben Walsh, Meghan Gaffey, Esq., Sue Katzoff, Esq., Judith DeLaney, Gregory Streeter, Debra Ramsey Burns. Others Present: John Lacey, Brenda Colella, Garth Coviello, Wendy Reese, Kerry Quaglia, Crystal Cosentino, Nicole Samolis, Kevin Samolis, Bruce Osterman, Brenda Colella, John Lacey, Marty Masterpole. I. Public Hearing Strathmore Huntley Group, LLC Mr. Ryan opened the Public Hearing at 8:59 a.m. by reading verbatim the Notice of Public Hearing on the Strathmore Huntley Group, LLC Project. A copy of the Public Notice is included in the minutes. After reading the notice, Mr. Ryan asked if anyone in attendance wished to speak in favor of the Project. John Lacey, who identified himself as a representative of Huntley Strathmore Group, LLC, spoke in favor. Mr. Lacey said the Project would entail the reconstruction and renovation of 42 residential apartments, four of which will be available to residents with an income of 80% or less of the area median income. Noting the Project had been discussed at the last Board meeting, Mr. Lacey asked if there were any questions. There being no questions, Mr. Ryan asked an additional two times if anyone else wished to speak in favor of the Project. No one else spoke in favor of the Project. Mr. Ryan then asked if anyone in attendance wished to speak in opposition to the Project. No one spoke in opposition to the Project. Mr. Ryan than asked an additional two times if anyone wished to speak in opposition to the Project. No one spoke in opposition. 1

2 Mr. Ryan closed the Public Hearing at 9:04 a.m. II. Call Meeting to Order Mr. Ryan called the meeting to order at 9:04 a.m. III. Roll Call Mr. Ryan acknowledged that all Board members were present with the exception of Ms. Richardson, who was excused. IV. Proof of Notice Mr. Ryan noted the notice of the meeting had been timely and properly provided. V. Minutes Mr. Ryan asked for a motion to accept the minutes from the December 18, 2012 Board of Directors meeting. Mr. Gamage made the motion. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY ACCEPTED MINUTES FROM THE DECEMBER 18, 2012 BOARD OF DIRECTORS MEETING. VI. Committee Reports Finance Committee Report Mr. Ryan said a meeting of the Finance Committee had been held immediately preceding the Board of Directors meeting at 8:00 a. m. At that meeting the Finance Committee reviewed two requests for funding; one from CNY Affordable Properties, Inc., and the other from the City of Syracuse for the benefit of Bank Alley. He advised the Committee agreed to recommend to the Board approval of the scheduling of a Public Hearing and funding in the amount of $225,000 for the Bank Alley Project. He further advised several questions regarding the CNY Affordable Properties, Inc. request had arisen and Mr. Walsh would be meeting with individual Committee members to provide them with additional information on the Project. He said the Committee agreed to recommend a Public hearing be held on the Project pending those discussions. VII. New Business Strathmore Huntley Group, LLC Ms. Katzoff told the Board they were being asked to approve resolutions undertaking the Project. She advised the first resolution for the Board s consideration was a SEQRA resolution constituting the Project as an unlisted action, naming the Agency as Lead Agency for purposes of SEQRA, noting the Project would have no significant effect on the environment and authorizing the Agency to issue a negative declaration. 2

3 Mr. Ryan asked for a motion to approve the SEQRA Resolution. Mr. Schoenwald made the motion. Mr. Gamage seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION CLASSIFYING A CERTAIN PROJECT AS AN UNLISTED ACTION PURSUANT TO THE STATE ENVIRONMENTAL QUALITY REVIEW ACT, DECLARING THE AGENCY LEAD AGENCY FOR PURPOSES OF AN UNCOORDINATED REVIEW THEREUNDER AND DETERMINING THAT THE PROJECT WILL NOT HAVE A SIGNIFICANT EFFECT ON THE ENVIRONMENT. Ms. Katzoff then asked the Board to approve an Inducement Resolution for the Project. There being no discussion, Mr. Ryan asked for a motion to approve an Inducement resolution for the Project. Mr. Schoenwald made the motion. Mr. Gamage seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION UNDERTAKING THE ACQUISITION, RENOVATION AND EQUIPPING OF A CERTAIN PROJECT, APPOINTING THE COMPANY AS AGENT OF THE AGENCY FOR THE PURPOSE OF THE ACQUISITION, RENOVATION AND EQUIPPING OF THE PROJECT FACILITY AND AUTHORIZING THE EXECUTION AND DELIVERY OF AN AGREEMENT BETWEEN THE AGENCY AND THE COMPANY. Ms. Katzoff said the next resolution for the Board s consideration was a PILOT resolution. Mr. Walsh advised the Board the PILOT conforms to the Agency s Uniform Tax Exemption Policy (UTEP). There being no discussion, Mr. Ryan asked for a motion to approve a PILOT resolution for the Project. Mr. Gamage made the motion. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION APPROVING A PAYMENT IN LIEU OF TAX SCHEDULE AND AUTHORIZING THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS BY THE AGENCY IN CONNECTION WITH A CERTAIN PROJECT UNDERTAKEN AT THE REQUEST OF THE COMPANY. Ms. Katzoff then asked the Board to approve a Final Resolution for the Project authorizing the Chairman to execute documents on behalf of the Agency. Mr. Ryan asked for a motion. Mr. Schoenwald made the motion. Ms. Hunter seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF CERTAIN DOCUMENTS BY THE AGENCY IN CONNECTION WITH A CERTAIN PROJECT UNDERTAKEN AT THE REQUEST OF THE COMPANY. Hotel Skyler, LLC Ms. Katzoff advised the Board they were being asked to approve a request by the Company to authorize the Agency s participation in the execution of documents relative to a refinance of a first mortgage for the Project. She noted the project was originally undertaken by the Agency in There being no discussion, Mr. Ryan asked for a motion authorizing approval of the resolution. Mr. Gamage made the motion. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION APPROVING THE AGENCY S PARTICIPATION IN THE REFINANCING OF THE CONSTRUCTION LOAN TO PERMANENT LOAN AT THE REQUEST OF THE COMPANY IN CONNECTION WITH THE COMPANY S COSTS ASSOCIATED WITH THE PROJECT FACILITY AND AUTHORIZING THE EXECUTION OF CERTAIN DOCUMENTS IN CONNECTION THEREWITH. 3

4 James Street Apartments, LLC Ms. Katzoff advised the Board the Company was requesting an extension of its sales tax appointment through December 31, She noted the Project was well underway but the Company needed additional time for a full completion. As the Board members indicated their agreement, Mr. Ryan asked for a motion to approve the resolution. Mr. Schoenwald made the motion. Mr. Gamage seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION APPROVING AN EXTENSION OF THE SALES TAX APPOINTMENT AGENT STATUS OF JAMES STREET APARTMENTS, LLC UNTIL DECEMBER 31ST, CNY Affordable Properties, Inc. Mr. Walsh advised the Board they were being asked to authorize a Public Hearing for the Project. He noted, as reported by Mr. Ryan previously, individual members of the Finance Committee had additional questions about the Project and he would be meeting with them to provide further information. Mr. Ryan noted the Committee agreed to authorize a Public Hearing with the understanding that it would reserve the right to cancel the Hearing if all members were not comfortable with the additional information provided. With the aforementioned understanding, Mr. Ryan asked for a motion to authorize a Public Hearing for the Project. Mr. Schoenwald made the motion. Ms. Hunter seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION DETERMINING THAT THE GRANTING BY THE AGENCY OF A REIMBURSABLE GRANT TO THE COMPANY IN AN AMOUNT NOT TO EXCEED $500,000 IN CONNECTION WITH A CERTAIN ECONOMIC DEVELOPMENT PROJECT CONSTITUTES A PROJECT AND AUTHORIZING A PUBLIC HEARING. Bank Alley Mr. Walsh requested the Board authorize a Public Hearing for the Project. He noted, as reported by Mr. Ryan, the Finance Committee had reviewed the Project and was recommending the Board approve funding for the Project with an increase in the amount to $225,000. Mr. Ryan asked for a motion to approve a resolution authorizing authorizing a Public Hearing for the Project. Mr. Gamage made the motion. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION DETERMINING THAT THE ISSUANCE BY THE AGENCY OF A REIMBURSABLE GRANT TO THE CITY OF SYRACUSE IN AN AMOUNT NOT TO EXCEED $225,000 IN CONNECTION WITH A CERTAIN ECONOMIC DEVELOPMENT PROJECT CONSTITUTES A PROJECT AND AUTHORIZING A PUBLIC HEARING. Infinity Armory, LLC Mr. Walsh advised the Board they were being asked to authorize a Public Hearing for the Project. He briefly reviewed the Project noting it entailed the renovation of the largely vacant former Wells & Coverly building on South Salina Street at an anticipated cost of $2.9 million dollars. He then introduced 4

5 an owner of the Company, Kevin Samolis, and asked that he briefly address the Board regarding the Project. Mr. Samolis said he and his wife Nicole, the owners of the Events Company, are undertaking the Project to acquire and renovate the building for use as a venue for social and corporate events. He noted they were excited to be part of the ongoing revitalization of Salina Street and anticipated the Project would be completed before the end of the year, creating an estimated 20 part time job positions. After some discussion Mr. Ryan asked for a motion to authorize a Public Hearing. Mr. Schoenwald made the motion. Ms. Hunter seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION DETERMINING THAT THE ACQUISITION, RENOVATION, CONSTRUCTION AND EQUIPPING OF A CERTAIN PROJECT AT THE REQUEST OF THE COMPANY CONSTITUTES A PROJECT AND DESCRIBING THE FINANCIAL ASSISTANCE IN CONNECTION THEREWITH AND AUTHORIZING A PUBLIC HEARING. VIII. Other Business Mission Statement and Performance Measures Mr. Walsh advised the Board they were being asked to approve a proposed Mission Statement and establish performance measures for the Agency as required under the Public Authorities Law. He noted the proposals included in the Board s Agenda packet were revised in discussions with Catherine Richardson, a Governance Committee member, after an initial review by that Committee. After a brief discussion Mr. Ryan asked for a motion to adopt the proposed Mission Statement and performance measures for the Agency. Mr. Gamage made the motion. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS UNANIMOUSLY APPROVED THE PROPOSED MISSION STATEMENT AND PERFORMANCE MEASURES AS PRESENTED. Acknowledgement of Fiduciary Duty Mr. Walsh noted the Board s Agenda packet included an Acknowledgement of Fiduciary Responsibility required to be reviewed and signed by Board members under the Public Authorities Law. He asked that each Board member either sign or re sign the statement and return to him. Reschedule February 2013 Board Meeting Mr. Walsh noted it appeared the February Board meeting would need to be rescheduled. He said he would advise the Board of the date and time as soon as possible. IX. Executive Session Mr. Ryan made a motion to move into executive session to discuss potential litigation involving Destiny USA. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A MOTION TO MOVE INTO EXECUTIVE SESSION FOR DISCUSSION OF POTENTIAL LITIGATION AT 9:24 A.M. 5

6 While in executive session a motion was made by Mr. Schoenwald to AUTHORIZE THE CHAIRMAN, WORKING WITH COUNSEL,TO EXECUTE THE NECESSARY DOCUMENTS, AND TO FILE THOSE DOCUMENTS WITH THE CITY OF SYRACUSE S BOARD OF ASSESSMENT REVIEW, TO SEEK A REVIEW OF THE ASSESSED VALUES ON THE PARKING PARCELS IN FURTHERANCE OF ONGOING NEGOTIATIONS BETWENN SIDA,PYRAMID COMPANY OF ONONDAGA AND RELATED DESTINY ENTITIES AND FURTHER AUTHORIZE THE CHAIRMAN THROUGH COUNSEL TO CONTINUE ON WITH SETTLEMENT NEGOTIATIONS. The motion was seconded by Ms. Hunter. The motion was approved by a three to one majority. Mr. Ryan, Ms. Hunter, and Mr. Schoenwald voted in favor of the motion. Mr. Gamage voted against the motion. Ms. Hunter made a motion to move out of executive session. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A MOTION TO MOVE OUT OF EXECUTIVE SESSION AT 10:30 A.M. X. Adjournment There being no further business to discuss Mr. Ryan asked for a motion to adjourn the meeting. Ms. Hunter made the motion. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY AGREED TO ADJOURN THE MEETING AT 10:33 A.M. 6

City of Syracuse Industrial Development Agency 333 West Washington St, Suite 130 Syracuse, NY Tel (315) Fax (315)

City of Syracuse Industrial Development Agency 333 West Washington St, Suite 130 Syracuse, NY 13202 Tel (315) 473 3275 Fax (315) 435 3669 Minutes Board of Directors Meeting Tuesday August 13, 2013 8:30