MINUTES OF THE REGULAR MEETING OF THE MEMBERSHIP OF THE ERIE COUNTY INDUSTRIAL DEVELOPMENT AGENCY (ECIDA)

Transcription

1 MINUTES OF THE REGULAR MEETING OF THE MEMBERSHIP OF THE ERIE COUNTY INDUSTRIAL DEVELOPMENT AGENCY (ECIDA) DATE AND PLACE: September 14, 2009, at Erie County Industrial Development Agency, 275 Oak Street, Buffalo, New York MEMBERS PRESENT: Philip C. Ackerman, Barry Brandon, Mary Busse, Hon. Anthony F. Caruana, Hon. Chris Collins, Philip Corwin, Ramona L. Gallagher, Hon. Mary F. Holtz, Hon. Timothy M. Kennedy, Lawrence M. Meckler, Frank B. Mesiah, Dr. Andrew J. Rudnick, and Richard Vogan MEMBERS EXCUSED: Hon. Byron W. Brown, Jonathan Dandes, James F. Doherty, Hon. David A. Franczyk, Michael Hoffert, Hon. Lynn M. Marinelli, and Dr. Satish Mohan OTHERS PRESENT: Al Culliton, John Cappellino, Andrew Schoeppich, Karen Fiala, David Kerchoff, Shawn M. Griffin, Pietra G. Lettieri, and Robert G. Murray There being a quorum present at 9:24 a.m., the Regular Meeting of the membership of the Erie County Industrial Development Agency (ECIDA) was called to order by Mr. Ackerman. MINUTES The minutes of the meeting of August 10, 2009 were presented. Upon motion made by Mr. Corwin and seconded by Mr. Rudnick, approval of the minutes of the Regular Meeting of the Membership of the ECIDA was unanimously carried. REPORTS Financial Report. Mr. Schoeppich presented the September financial report for the ECIDA. The Income Statement for the month of August shows a loss $47,024 which is attributable largely to administrative fees of only $75,154 for the month. Salaries and benefits continue to be lower than budgeted. The Income Statement for year to date shows a loss of $78,525, attributable to fee income being less than budgeted, as well as professional services being higher than budgeted. There being no further questions, Mr. Ackerman directed that the financial report be received and filed Page 1 of 5

2 INFORMATION ITEMS 2009 IRB Schedule. Mr. Kerchoff updated the members on IRB closings to date, which included five additional project closings. There being no further questions, Mr. Ackerman directed that the report be received and filed. ILDC/RDC Loan Approvals/Closing under $350,000. Mr. Kerchoff updated the members, stating that three additional loans have been approved and three loans have closed for the period August 11, 2009 to September 11, There being no further questions, Mr. Ackerman directed that the report be received and filed Agency Meeting Schedule. Mr. Cappellino presented this schedule to the board members. INDUCEMENT RESOLUTIONS: 1238 Group, LLC (Tapestry Charter School) Lease/Leaseback, 65 Great Arrow Drive, Buffalo, NY Ms. Fiala presented this $6,457,000 school expansion project being undertaken by the company to renovate their existing 46,000 square foot facility and construct an 8,000 square foot gymnasium. The ECIDA assistance may be limited to sales tax and mortgage tax benefits, as the school may obtain a 408 PILOT. Upon due consideration, the following resolution was introduced: AGENCY: (i) ACCEPTING THE APPLICATION OF 1238 GROUP, LLC (THE COMPANY ) IN CONNECTION WITH A CERTAIN PROJECT DESCRIBED BELOW; (ii) RATIFYING THE SCHEDULING, NOTICING, AND CONDUCTING OF A PUBLIC HEARING IN CONNECTION WITH THE PROJECT; (iii) MAKING A DETERMINATION PURSUANT TO THE STATE ENVIRONMENTAL QUALITY REVIEW ACT; (iv) APPOINTING THE COMPANY, OR ITS DESIGNEE, AS ITS AGENT TO UNDERTAKE THE PROJECT; (v) AUTHORIZING THE UNDERTAKING OF THE PROJECT TO PROVIDE FINANCIAL ASSISTANCE TO THE COMPANY IN THE FORM OF (A) A SALES TAX EXEMPTION FOR PURCHASES AND RENTALS RELATED TO THE ACQUISITION, CONSTRUCTION AND/OR Upon motion made by Mr. Meckler, seconded by Mr. Mesiah, an inducement resolution Page 2 of 5

3 ENRG I, Group, LLC Lease/Leaseback, 127 Cherry Street, Buffalo, NY Ms. Fiala presented this $8,788,506 rehabilitation of an existing 65,000 square foot building for lease of 30,000 square feet to ENRG for use as a state of the art incubator for clean emissions, with half the space as a clean room and the remaining area for production and offices. Upon due consideration, the following resolution was introduced: AGENCY: (i) ACCEPTING THE APPLICATION OF ENRG I, LLC (THE COMPANY ) IN CONNECTION WITH A CERTAIN PROJECT DESCRIBED BELOW; (ii) RATIFYING THE SCHEDULING, NOTICING, AND CONDUCTING OF A PUBLIC HEARING IN CONNECTION WITH THE PROJECT; (iii) MAKING A DETERMINATION PURSUANT TO THE STATE ENVIRONMENTAL QUALITY REVIEW ACT; (iv) APPOINTING THE COMPANY, OR ITS DESIGNEE, AS ITS AGENT TO UNDERTAKE THE PROJECT; (v) AUTHORIZING THE UNDERTAKING OF THE PROJECT TO PROVIDE FINANCIAL ASSISTANCE TO THE COMPANY IN THE FORM OF (A) A SALES TAX EXEMPTION FOR PURCHASES AND RENTALS RELATED TO THE ACQUISITION, CONSTRUCTION AND/OR Upon motion made by Mr. Rudnick, seconded by Mr. Meckler, an inducement resolution Robert E. Stark (Kamman Group, LLC) Lease/Leaseback, 755 Seneca Street, Buffalo, NY Ms. Fiala presented this $2,000,000 Adaptive/Reuse of an existing 4-story, 13,000 square foot building for commercial use. Upon due consideration, the following resolution was introduced: AGENCY: (i) ACCEPTING THE APPLICATION OF ROBERT E. STARK (THE COMPANY ) IN CONNECTION WITH A CERTAIN PROJECT DESCRIBED BELOW; (ii) RATIFYING THE SCHEDULING, NOTICING, AND CONDUCTING OF A PUBLIC HEARING IN CONNECTION WITH THE PROJECT; (iii) MAKING A DETERMINATION PURSUANT TO THE STATE ENVIRONMENTAL QUALITY REVIEW ACT; (iv) APPOINTING THE COMPANY, OR ITS DESIGNEE, AS ITS AGENT TO UNDERTAKE THE PROJECT; (v) AUTHORIZING THE UNDERTAKING OF THE PROJECT TO PROVIDE FINANCIAL ASSISTANCE TO THE COMPANY IN Page 3 of 5

4 THE FORM OF (A) A SALES TAX EXEMPTION FOR PURCHASES AND RENTALS RELATED TO THE ACQUISITION, CONSTRUCTION AND/OR Upon motion made by Mr. Meckler, seconded by Ms. Gallagher, an inducement resolution SPECIAL RESOLUTIONS: B&G Delaware Holdings, LLC (Formerly Delaware Consumer Square Project), 2863 Broadway, Cheektowaga, NY This 428,600 square foot retail shopping center was completed in several phases and originally closed in A mortgage re-collateralization transaction of up to $30,000,000, will secure certain of these properties. Upon motion made by Ms. Holtz, seconded by Mr. Kennedy, a resolution DePaul Properties, Inc., 2248 Old Union Road, West Seneca, NY This project was the subject of a 1998 bond issuance. An amendment to the Indenture has been requested. Upon motion made by Ms. Holtz, seconded by Mr. Kennedy, a resolution Ashbury Development, LLC Preservation Covant This Project has requested a post-closing preservation covenant/ easement. Upon motion made by Mr. Kennedy, seconded by Mr. Caruana, a resolution was unanimously adopted approving this project. Broadway Development Park (Benderson Development Company), 2863 Broadway, Cheektowaga, NY This 2005 multi-use project seeks approval of tenant occupancy by Recall Total Information Mnagement, Inc., a global document management company. Upon motion made by Ms. Holtz, seconded by Mr. Kennedy, a resolution was unanimously adopted approving this project. Page 4 of 5

5 MANAGEMENT TEAM REPORTS: Bond/Loan Report. Mr. Culliton presented a schedule of backlogged and closed bond/lease projects. Mr. Culliton presented a backlog of RDC loan activity with approximately $1.1 million in loans to be closed, stating that 2009 will be a good year for RDC. Mr. Ackerman directed that this report be received and filed. There being no further business, upon motion made by Dr. Rudnick, seconded by Mr. Meckler, and unanimously carried, the meeting was adjourned. Robert G. Murray, Assistant Secretary Page 5 of 5