MINUTES IDA REGULAR MEETING JANUARY 25, 2018

Transcription

1 ACCEPTED BY THE BOARD 2/22/18 MINUTES IDA REGULAR MEETING JANUARY 25, 2018 PRESENT Theresa Ward, Chair Grant Hendricks, Vice Chairman Peter Zarcone, Treasurer Anthony Giordano, Secretary Sondra Cochran, Member EXCUSED ABSENCE Gregory Casamento, Member Kevin Harvey, Member ALSO PRESENT Anthony J. Catapano, Executive Director Kelly Morris, Deputy Executive Director John McNally, Associate Director Marketing & Outreach Daryl Leonette, Executive Assistant Regina Halliday, Bookkeeper Melissa Bennett,Esq., Barclay Damon LLP William Weir, Esq., Nixon Peabody LLP William Dudine, Esq., Katten Muchin Rosenman LLP Andrew Komaromi, Esq., Harris Beach PLLC Seth Lounsbury, Aide to Suffolk County Legislator Lindsay Christina DeLisi, Aide to Presiding Officer Gregory Kimberly Scalice, Aide to Suffolk County Legislator Cilmi Regina Zara, Chief Financial Officer, Suffolk County Economic Development Corporation Louis Bekofsky, Chief Executive Officer, Suffolk County Economic Development Corporation Angela Glaser, Executive Assistant, Suffolk County Economic Development Corporation David Chauvin, Zimmerman/Edelson, Inc. James Madore, Reporter, Newsday John Lombardo, Suffolk County Community College Bridget Stokes, Housing Specialist, Wyandanch Community Development

2 SCIDA MINUTES -2- JANUARY 25, 2018 The Regular Meeting of the Suffolk County Industrial Development Agency held in Media Room #184 in the lower level of the H. Lee Dennison Building, 100 Veterans Memorial Highway, Hauppauge, NY was called to order at 12:45 p.m. by Ms. Ward, Chair of the IDA. PUBLIC COMMENT Ms. Ward opened the public comment portion of the Suffolk County Industrial Development Agency Meeting. No comments were received for the Public Comment portion of the Suffolk County Industrial Development Agency. Upon a motion by Mr. Hendricks, seconded by Ms. Ward, it was: RESOLVED, to end the Public Comment portion of the meeting of the Suffolk County Industrial Development Agency. ANNUAL BUSINESS ITEMS Elections of Officers The proposed slate of Officers was approved by Board Members. Upon a motion by Mr. Zarcone, seconded by Ms. Cochran, it was: RESOLVED, that the following Members be Officers of the Agency: Committees Theresa Ward Chair Grant Hendricks Vice Chairman Peter Zarcone Treasurer Anthony Giordano Secretary The proposed slate of officers for Committees was distributed to Board Members. Upon a motion by Mr. Zarcone, seconded by Ms. Ward, it was: RESOLVED, that the following Board Members be assigned to the Audit & Finance and Governance & Compliance Committees:

3 SCIDA MINUTES -3- JANUARY 25, 2018 AUDIT & FINANCE COMMITTEE: Grant Hendricks, Chair Anthony Giordano Theresa Ward Peter Zarcone GOVERNANCE & COMPLIANCE COMMITTEE: Kevin Harvey, Chair Gregory Casamento Sondra Cochran Theresa Ward Schedule of 2018 Meetings The schedule of Regular Meetings was accepted by Board Members. It was noted the schedule is subject to change. Mr. Catapano said that Board Meetings are usually scheduled on the fourth Thursday of each month. Also, there may be some off site Meetings scheduled at projects the Agency has assisted during the year. Signatories on Agency Accounts Mr. Catapano stated that six signatories are authorized on Agency Accounts with two out of the six signatories being required on the accounts. The six signatories are the four officers and two staff members. The preference is to have one officer and one staff member as the two signatories. The following should be authorized signatories for 2018: Anthony Giordano Grant Hendricks Peter Zarcone Theresa Ward Anthony J. Catapano K. Kelly Morris Upon a motion by Ms. Cochran, seconded by Mr. Zarcone, it was: RESOLVED, the following are authorized signatories on Agency accounts with two of six signatories being required on the accounts.

4 SCIDA MINUTES -4- JANUARY 25, 2018 Agency Counsel Upon a motion by Mr. Zarcone, seconded by Mr. Hendricks, it was: RESOLVED, to continue to retain William Wexler, Esq. as Agency Counsel for 2018 at a rate of $320 per hour. Bond Counsels/Transaction Counsels Upon a motion by Mr. Hendricks, seconded by Mr. Zarcone, it was: RESOLVED, to re-designate the four law firms of Barclay Damon LLP; Harris Beach PLLC; Nixon Peabody LLP and Katten Muchin Rosenman LLP as the Agency s Bond Counsels/Transaction Counsels for 2018 and that applicants may select a different Bond/Transaction Counsel of their choice, provided that the Bond/Transaction Counsel they select is qualified and acceptable to the Agency. Agency Auditor Upon a motion by Mr. Zarcone, seconded by Ms. Cochran, it was: RESOLVED, to continue to retain the Fuoco Group, CPAs as the Agency Auditors for 2018 in the amount of $20,000. Agency Accountant Upon a motion by Mr. Hendricks, seconded by Mr. Zarcone, it was: RESOLVED, to retain Albrecht, Viggiano, Zureck & Company, P.C. as the Agency Accountants and not to exceed $35,000 for 2018.

5 SCIDA MINUTES -5- JANUARY 25, 2018 Review and Readoption of Agency Policies Ms. Ward indicated that the Agency must readopt the Investment Policy and Property Disposition Policies Annually. Upon a motion by Mr. Zarcone, seconded by Ms. Ward, it was: RESOLVED, to readopt the Investment Policy and Property Disposition Policy for the Suffolk County Industrial Development Agency. Professional Physical Therapy Management LLC (PPT): request for a final resolution for a lease transaction. Amendment to application and Mr. Catapano presented Exhibit A. Professional Physical Therapy Management LLC (PPT Management LLC) is a leading provider of physical, hand therapy and rehabilitation services throughout the New York metropolitan area, New Jersey, Connecticut, Massachusetts and New Hampshire. PPT was approved at the November 16, 2017 Meeting and since then the Company has a change to a different new location at 576 Broad Hollow Road, Melville, NY The Company has submitted an amended application. Mr. Catapano indicated that the new location for PPT (576 Broad Hollow Road, Melville) was previously owned by NeuLion, Inc. and they sold the building to a new owner from which PPT will be leasing space. PPT Management LLC is leasing 40,000 square feet of the building and it is line with what they were interested in leasing at 320 S. Service Road, Melville. Mr. Catapano stated the costs will remain the same although the benefit level changed a little. PPT will be a tenant in this building for 15 years. The Company is increasing their employment by 30 by year two and some of the the employees from Queens have not opted to relocate to Melville. The orginal application had built in 60 new positions before the employees from Queens opted out. Mr. Catapano indicated a public hearing was held on January 23, 2018 and no comments were received. Mr. Komaromi indicated that the public hearing was for the Company s new address at 576 Broad Hollow Road, Melville. Upon a motion by Mr. Hendricks, seconded by Mr. Giordano, it was: RESOLVED, to amend the application and approve a final inducement resolution in the approximate amount of $3,691,600 for PPT Management LLC facility.

6 SCIDA MINUTES -6- JANUARY 25, 2018 Broadridge Investor Communication Solutions, Inc.: Request for an final resolution for a lease transaction. Mr. Catapano presented Exhibit B. Broadridge Investor Communication Solutions, Inc. is a provider of digital and print delivery encompassing a range of communications offerings, including proxy materials, electronic marketing materials and accounting statements. Broadridge Investor Communication Solutions, Inc. was approved for a sales tax only project at the December 14, 2017 IDA Meeting. Mr. Catapano stated a public hearing was held on January 22, 2018 and no comments were received. Mr. Catapano indicated that Broadridge Investor is ready for final approval. Mr. Zarcone stated the salaries for the Company are very good. Upon a motion by Mr. Zarcone, seconded by Ms. Ward, it was: RESOLVED, to approve a final resolution in the approximate amount of $101,080,755 for Broadridge Investor Communication Solutions, Inc. facility. Minutes The Minutes from the December 14, 2017 IDA Board Meeting were accepted by Board Members. Regional Plan Association (RPA): Annual presentation and summary of project. The Regional Planning Association (RPA) provides planning assistance to the IDA in locations where there is receptivity and suitability for commercial and mixed-use transit oriented development and redevelopment. Ms. Morris introduced Robert Lane, Senior Fellow for Urban Design and Moses Gates, Director Community Planning & Design, Regional Plan Association (RPA) to the Board. Regional Plan Association (RPA) made a presentation to the Board and updated them on the projects they are working on for the Agency Year End Review Ms. Morris and Mr. McNally presented a summary of the IDA s 2017 activities.

7 SCIDA MINUTES -7- JANUARY 25, 2018 Upon a motion by Mr. Hendricks, seconded by Ms. Cochran, it was: RESOLVED, to adjourn the Regular Meeting of the Suffolk County Industrial Development Agency. The Meeting adjourned at 1:35 p.m. The next Meeting of the Suffolk County Industrial Development Agency is tentatively scheduled for February 22, 2018.