IDA Minutes:

2011

• 2/11/11

• 3/10/11

• 4/6/11

• 6/21/11

• 7/7/11

• 8/11/11

• 9/9/11

• 10/6/11

• 10/20/11

• 11/30/11

• 12/22/11

Current Minutes

IDA Home

December 22, 2011
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Daniels, Kunzwiler, Ospelt, Rush, Schick, Sorbello and Toth

Absent: None

Also Present: Kevin C. Caraccioli, David S. Dano and L. Michael Treadwell

Vice Chair Toth called the meeting to order at 2:00 p.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the minutes of the November 30, 2011 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Financial Statements for the period ended October 31, 2011 were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website.  A notice was published in The Palladium Times on December 7, 2011.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended November 30, 2011.  Discussion held on Oswego Recycling and McGillicuddy’s.

St. Francis Commons
Following a discussion, on a motion by Mr. Daniels, seconded by Mr. Sorbello, an extension of the loan commitment was approved to December 31, 2012 and the funding source was modified to the HUD EDF from the PILOT EDF.  A brief discussion was held on a potential S/L Transaction.

Hansdev, Inc.
Following a review of the application, on a motion by Mr. Kunzwiler, seconded by Mr. Toth, a resolution was approved authorizing the undertaking of 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; approving financial assistance in the form of exemptions from real property tax, mortgage recording tax, sales and use tax and a loan from the Agency’s Economic Development Fund in an amount not to exceed $50,000; determining that no further review is required under SEQRA; and authorizing the execution and delivery of an agreement between the Agency and the Company.  A copy of the Inducement Resolution is attached and made an official part of the minutes.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

On a motion by Mr. Sorbello, seconded by Mr. Ospelt, a resolution was approved approving a PILOT 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.  A copy of the PILOT Resolution is attached and made an official part of the minutes.

On a motion by Mr. Schick, seconded by Mr. Kunzwiler, a resolution was approved authorizing the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of the Company.  A copy of the Final Approving Resolution is attached and made an official part of the minutes.

Riverview Business Park
A discussion was held on the potential use of IDA incentives to help finance the rehabilitation of the warehouse and wastewater treatment complex in order to facilitate the marketing of the RBP for a productive economic use.

Great Lakes Veneer
Mr. Treadwell reported that the equipment financed by the IDA has been included in the auction to be conducted by HSBC scheduled for January 10, 2012.  A reserve has been placed in cooperation with the CNYEDC.  Local woodworking companies were contacted prior to agreeing to the auction to determine interest.

Huhtamaki
Following a discussion on the company’s request to extend its PILOT Agreement through 2022, to help support a $4 million investment in a cold drink cup project that will create 25 new jobs, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, it was approved to extend the current PILOT for an additional five years.

PARIS Reporting
Mr. Treadwell reported that the PARIS report to the NYSABO was completed on November 21, 2011 for FY Ended July 31, 2011.

G&S Broadwell, Inc,/Best Western Hotel & Conference Center
On a motion by Mr. Toth, seconded by Mr. Ospelt, authorization was approved for subordination and a Spreader Agreement with HSBC Bank on the financing of the project.

Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, a PILOT Agreement modification was approved associated with the acquisition of the property located at 1 East 2nd Street in Oswego, NY.  Schedule A will be amended to reflect a $6,000 increase in the “Minimum” Base.  Mr. Daniels abstained.

Mr. Treadwell reported that a tour of the Hotel and Conference Center would be conducted immediately following the meeting.

Tavern on the Lock
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a 6-month loan deferment was approved requiring proof of tax payments being made.

Mahalaxmi, Matangi, and Modheshwari Motels
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Sorbello, 3-month loan deferments were approved.

BirdsEye Plant
Mr. Treadwell distributed and reviewed a copy of the marketing materials that were being used to promote the BirdsEye plant.  A discussion was held on the prospect activity to date.  In order to maximize the potential of a successful outcome and reuse of the plant, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, authorization was approved to negotiate a “right of first refusal” with the owner.  A discussion was also held on utilizing IDA benefits, including the use of bond financing.

Glenn Donnelly Partners, LLC/CNY Raceway Park
Mr. Ospelt reported that meetings are on-going with the Town of Hastings Planning Board.  Mr. Treadwell reported that according to the developer, some progress has been made towards securing all land needed for the project.

Next IDA Meeting
January 23, 2012 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the meeting was adjourned at 3:35 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

November 30, 2011
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Kunzwiler, Ospelt, Rush, Schick and Toth

Absent: Daniels and Sorbello

Also Present: Kevin C. Caraccioli, David S. Dano, L. Michael Treadwell, Collette Emmons, and Brian Lauri

Chair Rush called the meeting to order at 9:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

Executive Session
Chair Rush reported that due to matters involving potential or pending litigation regarding the Glenn Donnelly Partners, LLC/Central NY Raceway Park project, on a motion by Mr. Ospelt, seconded by Mr. Schick, it was approved to go into Executive Session at 9:05 a.m.

On a motion by Mr. Ospelt, seconded by Mr. Schick, the Executive Session ended at 9:25 a.m.

Glenn Donnelly Partners, LLC/Central NY Raceway Park
Mr. Caraccioli provided an overview of the status of the project as it related to the County of Oswego IDA and the developer’s request for the potential use of Eminent Domain powers.  Mr. Lauri, legal counsel for Ms. Emmons, discussed their position as a property owner of one parcel that is critical for the development of the proposed project.  Ms. Emmons discussed the history of the parcel as it pertained to her family.  Mr. Lauri noted that he is communicating with legal counsel for the project.  As requested, Mr. Caraccioli will provide appropriate documents submitted by the developer to the IDA to Mr. Lauri.

Counsel was authorized to obtain information on potential legal costs and to negotiate the basis of an agreement with the developer on costs and responsibilities associated with an Eminent Domain proceeding, if utilized to further the project.  It was agreed that a negotiated settlement between property owner and developer requires more due diligence.

APPROVAL OF MINUTES
On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, the minutes of the October 20, 2011 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Financial Statements for the period ended September 30, 2011 were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website.  A notice was published in The Palladium Times on November 11, 2011.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended October 31, 2011.

Hansdev, Inc.
Following a discussion and review of the financing application, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Hansdev, Inc. project will not have a significant effect on the environment.  A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Schick, seconded by Mr. Ospelt, the financial assistance for working capital, soft costs and FFE ($50,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit analysis is on file at the Agency.

BirdsEye Marketing
Mr. Treadwell reviewed the marketing initiative using Ady Voltedge, a site location marketing consulting firm, to develop a strategy to promote the plant that is scheduled to close on December 31, 2011.

Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Schick, $20,000 was committed from the General EDF to support the initiative being spearheaded by Operation Oswego County, Inc.

CNY Regional Economic Development Council
Mr. Treadwell provided a report on the CNY REDC.  The 5 Year Strategic Plan was submitted to the State on November 14, 2011.  Thirty “Priority Projects” were identified, 5 in Oswego County (Port of Oswego, Healthway Products, Huhtamaki, Fulton Companies and Champlain Valley Specialty).  CFA applications that were due by October 31, 2011 totaled 180 of which 25 were from Oswego County.

G&S Broadwell, Inc.
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Schick, the request for an extension of the Sales and Use Tax Exemption Letter through December 31, 2012 was approved due to delays in the project.

Precision Wood Flooring Products, LLC
Mr. Treadwell outlined a potential interest in the acquisition of the real estate owned by the company including the legal entity.  A discussion was held relative to the assignment of the PILOT EDF loan.

Port of Oswego
On a motion by Mr. Toth, seconded by Mr. Schick, a support letter for the Port’s application for a U.S. DOT Tiger III grant to expand bulk handling capabilities was approved.

K&E Realty/Reservoir Inn
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, the refinancing proposal dated November 30, 2011, was approved in the amount of $22,257.

Oswego County Podiatry, P.C.
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, a loan modification for PILOT EDF Loan No. 3371 was approved and adjusted for an additional $10,400.

Great Lakes Veneer
Following a discussion on the scheduled auction of equipment (January 10, 2012) by HSBC, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the following were authorized (1) notify local companies to determine if there is interest in equipment that the IDA has a first security interest, (2) contact the auctioneer regarding the cost associated with participating in the auction, (3) determine in cooperation with the CNY EDC whether participation is the best strategy, (4) evaluate to include consideration of a reserve price, and (5) authorizing the CEO and CFO to commit to participating in the auction if appropriate.

McIntosh Box & Pallet Co., Inc.
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Schick, the request for an assignment of the PILOT Agreement due to ownership change was approved.

Next IDA Meeting
December 22, 2011 at 2:00 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Toth, seconded by Mr. Kunzwiler, the meeting was adjourned at 11:20 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

October 20, 2011
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Ospelt, Rush, Schick, Sorbello and Toth

Absent: Daniels and Kunzwiler

Also Present: Kevin C. Caraccioli, David S. Dano, L. Michael Treadwell, Roger Beer, Laura Wills, Michael Pollock, Greg Kidd, Glenn Donnelly, Romey Caruso, Greg Rigby, Scott Chatfield and David Schermerhorn.

Chair Rush called the meeting to order at 9:10 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Sorbello, seconded by Mr. Ospelt, the minutes of the October 6, 2011 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Sorbello, the Financial Statements for the period ended August 31, 2011 were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website.  A notice was published in The Palladium Times on October 12, 2011.

Audit FY Ended 7/31/11
Mr. Beer and Ms. Wills of Green & Seifter CPAs, PLLC presented the County of Oswego IDA Audit Report Presentation.  Following a discussion, on a motion by Mr. Schick, seconded by Mr. Ospelt, the Audit Report was approved.

Glenn Donnelly Partners, LLC
Following a presentation by Mr. Chatfield and Mr. Donnelly on the modifications and changes in the scope of the proposed project, on a motion by Mr. Ospelt, seconded by Mr. Schick, a resolution was approved determining that the acquisition, demolition, construction and equipping of a commercial facility at the request of the company for use as an auto speedway racing facility constitutes a project; describing the financial assistance requested in connection therewith and authorizing a public hearing.  A copy of the Amended Initial Resolution is attached and made an official part of the minutes.

A discussion was held relative to matters related to acquisition of real estate necessary for the project.  On a motion by Mr. Schick, seconded by Mr. Ospelt, authorization was approved to retain special counsel for purposes of evaluating the potential use of the Eminent Domain process.  A copy of the resolution is attached and made an official part of the minutes.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended September 30, 2011.  Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, authorization was approved to commence legal action on the defaulted loan associated with Sabona’s Café.

Hansdev, Inc.
Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, a resolution was approved determining that the acquisition, renovation and equipping of a commercial facility at the request of the company for use as a motel constitutes a project; describing the financial assistance requested in connection therewith and authorizing a public hearing.  A copy of the Initial Resolution is attached and made an official part of the minutes.

Annual Board of Directors CEO and Executive Staff Evaluation
A dialogue was held concerning the job performance of the CEO and Staff and concluded that they are doing an excellent job.

Annual Board of Directors Evaluation
The Summary Report was provided from the Governance Committee and on a motion by Mr. Schick, seconded by Mr. Ospelt, authorization was approved to submit the report as amended to the NYS ABO.

County of Oswego IDA Annual Report
Following a review, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, the Annual Report was approved and it was authorized to be posted on the Agency’s website.  A copy of the Annual Report is attached and made an official part of the minutes.

Champlain Valley Specialty
Following a review of the application, on a motion by Mr. Toth, seconded by Mr. Sorbello, a resolution was approved authorizing the undertaking of the acquisition, reconstruction, renovation and equipping of a certain project:  appointing the company as Agent of the Agency for the purpose of the acquisition, reconstruction, renovation and equipping of the project; approving financial assistance in the form of exemptions from real property tax, mortgage recording tax and sales and use tax; and authorizing the execution and delivery of an agreement between the Agency and the company.  A copy of the Inducement Resolution is attached and made an official part of the minutes.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, a resolution was approved approving a PILOT 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.  A copy of the PILOT Resolution is attached and made an official part of the minutes.

On a motion by Mr. Schick, seconded by Mr. Toth, a resolution was approved authorizing the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of the company.  A copy of the Final Approving Resolution is attached and made an official part of the minutes.

Seneca Hill Manor, Inc.
Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Ospelt, a resolution was approved acknowledging the defeasance and redemption of the Issuer’s $11,685,000 Civic Facility Revenue Bonds (FHA insured mortgage – Seneca Hill Manor, Inc. Project), Series 1997A; authorizing the establishment of a defeasance escrow account related thereto and the execution of any and all documents necessary to discharge the lien of the indenture.  A copy of the Authorizing Resolution is attached and made an official part of the minutes.

Next IDA Meeting
November 30, 2011 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the meeting was adjourned at 12:05 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

October 6, 2011
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Kunzwiler, Rush, Schick, Sorbello and Toth

Absent: Daniels and Ospelt

Also Present: Kevin C. Caraccioli, David S. Dano, and L. Michael Treadwell

Chair Rush called the meeting to order at 9:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the minutes of the September 9, 2011 meeting  were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Financial Statements for the period ended July 31, 2011 were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website.  A notice was published in The Palladium Times on September 16, 2011.

Delinquent Loan Report
Report was waived.  Mr. Caraccioli reported on the scheduled auction of equipment for Sabona’s Café.

Citizens Budget Commission
Mr. Treadwell distributed a copy of the CBC’s report “Avoiding Past Mistakes:  Principles for Governing REDCs” dated September 2011.  Following a review and discussion, it was agreed that the report’s recommendation to replace local IDAs with regional IDAs would be counterproductive and contrary to the home rule concept and authorization to develop a resolution for the County Legislature to consider in opposition was approved. 

Mr. Treadwell also distributed a report on the performance of IDAs in CNY that was provided to the CNY REDC for consideration in the Strategic Plan.

Disposition of Property Guidelines
Following a discussion, it was agreed to defer the annual review until the 1st Quarter of 2012.

Lake Ontario Industrial Park Incubator Facility Project
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Sorbello, authorization was approved to submit a CFA Application for consideration by the CNY REDC and the State to fund up to $2 million for development cost.

Great Lakes Veneer
Mr. Treadwell reported that no significant activity had occurred relative to the HSBC settlement and/or the potential sale of some assets.

RGC-SRE Oswego Acquisitions, LLC/Seaway Lofts
Mr. Treadwell reported that the project has been awarded $461,177 in LIHCs from the State.

County of Oswego IDA Annual Report
Mr. Treadwell reported that the Annual Report for FY 8/1/10-7/31/11 was in the process of being prepared.

Champlain Valley Specialty
On a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved determining that the acquisition, reconstruction, renovation and equipping of a commercial facility at the request of the company for use as a fresh fruit processing facility constitutes a project; describing the financial assistance requested in connection therewith and authorizing a public hearing.  A copy of the Initial Resolution is attached and made an official part of the minutes.

Executive Session
Chair Rush reported that due to matters involving financial information on an individual and on a business which, if disclosed, would cause substantial injury to the competitive position of the business.  On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 10:30 a.m.

On a motion by Mr. Toth, seconded by Mr. Schick, the Executive Session ended at 10:40 a.m.

G&S Broadwell, Inc./Best Western Hotel & Conference Center
On a motion by Mr. Toth, seconded by Mr. Schick, the assignment of life insurance for collateral on the loan was waived.

Oswego Recycling
On a motion by Mr. Sorbello, seconded by Mr. Schick, authorization for counsel to finalize the legal settlement relating to the project was approved.

Annual Board of Directors Evaluation
Mr. Treadwell reviewed the process.

Governance Committee
A meeting was scheduled for October 20, 2011, at 9:00 a.m. to review the Board of Directors Evaluations.

Next IDA Meeting
October 20, 2011 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the meeting was adjourned at 11:05 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

September 9, 2011
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Kunzwiler, Ospelt, Rush, Schick, Sorbello and Toth

Absent:  Daniels

Also Present: Kevin C. Caraccioli, David S. Dano, Bryan Menar, and L. Michael Treadwell

Chair Rush called the meeting to order at 9:10 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the minutes of the August 11, 2011 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Financial Statements for the period ended June 30, 2011 were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website.  A notice was published in The Palladium Times on August 26, 2011.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended August 31, 2011.

Delinquent Loan Policy
Following a review of the proposed revised policy and following the recommendation from the Audit Committee, on a motion by Mr. Sorbello, and seconded by Mr. Schick, the revised and amended Delinquent Loan Policy was adopted.  A copy of the Delinquent Loan Policy is attached and made an official part of the minutes.

V-Squared Management, LLC (Kallet Theater)
On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, a resolution was approved for undertaking the acquisition, renovation, restoration and equipping of a certain project; appointing the company as Agent of the Agency for the purpose of the acquisition, renovation, restoration and equipping of the project; approving financial assistance in the form of exemptions from real property tax, mortgage recording tax and sales and use tax; and authorizing the execution and delivery of an Agreement between the Agency and V-Squared Management, LLC.  A copy of the Inducement Resolution is attached and made an official part of the minutes.

On a motion by Mr. Sorbello, seconded by Mr. Ospelt, a resolution was approved approving a PILOT schedule and authorizing the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of V-Squared Management, LLC.  A copy of the PILOT Resolution is attached and made an official part of the minutes.

On a motion by Mr. Schick, seconded by Mr. Kunzwiler, a resolution was approved authorizing the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of V-Squared Management, LLC.  A copy of the Final Approving Resolution is attached and made an official part of the minutes.

Annual Performance Report on NYS’s IDAs – FY Ending 2009 – Office of the NYS Comptroller
Mr. Treadwell reported on the presentation given to the Oswego County Economic Development and Planning Committee on August 30, 2011.

G&S Broadwell, Inc. – Best Western Hotel & Conference Center
Following a discussion and review of the financing application, on a motion by Mr. Toth, seconded by Mr. Ospelt, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the G&S Broadwell, Inc. Project will not have a significant effect on the environment.  A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the financial assistance to acquire the former Patz Restaurant site and make improvements to enhance tourism and expand support for the conference center and hotel expansion ($200,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Branch Development Oswego, LLC – Holiday Inn Express
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, a resolution was approved determining that the acquisition, construction and equipping of a commercial facility at the request of the company for use as a hotel constitutes a project; describing the financial assistance requested in connection therewith and authorizing a public hearing.  A copy of the Initial Resolution is attached and made an official part of the minutes.

On a motion by Mr. Kunzwiler, seconded by Mr. Schick, the conflict of interest waiver request from Hiscock & Barclay, LLP in regards to the Branch Development Oswego, LLC project was approved.

Great Lakes Veneer
Mr. Menar of JC Jones & Associates, LLC presented a modified high level business assessment of Great Lakes Veneer post the auction held on July 20, 2011 and a proposed revised business plan.  Following a discussion, authorization to review options with USDA relative to the new financing structure, to authorize perfecting a judgment, to continue discussions with Tioga Hardwoods regarding the dry kilns, and to initiate the development of a liquidation plan as an alternative were approved.

Harbor Lights Services
Following a discussion, and due to a significant change in the scope and location of the project, it was determined that a new application for a loan was appropriate and that the company should reapply.  The initial application for a $70,000 PILOT EDF Loan was approved on August 26, 2005.

Felix Schoeller Technical Papers
Cancellation of the PILOT EDF loan commitment ($700,000) was approved.

Next IDA Meeting
October 6, 2011 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the meeting was adjourned at 11:25 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

August 11, 2011
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Daniels, Kunzwiler, Rush, Schick, Sorbello and Toth

Absent: Ospelt

Also Present: Kevin C. Caraccioli, David S. Dano, and L. Michael Treadwell

Vice Chair Toth called the meeting to order at 9:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the minutes of the July 7, 2011 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Schick, the Financial Statements for the period ended May 31, 2011 were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website.  A notice was published in The Palladium Times on July 22, 2011.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended July 31, 2011.

Caity’s Child Care
Following a discussion and review of the financing application, on a motion by Mr. Sorbello, seconded by Mr. Daniels, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Caity’s Child Care Project will not have a significant effect on the environment.  A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Kunzwiler, seconded by Ms. Rush, the financial assistance for renovations, equipment and working capital ($15,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Annual Performance Report on NYS’s IDAs – FY Ending 2009 – Office of the NYS Comptroller
A discussion was held on the report as it related to the County of Oswego IDA.  Mr. Treadwell provided a detailed analysis of the data that was included in the report based on a comparison with other County IDAs relative to population size.  It was agreed that an overview should be presented to the County’s EDP Committee.

Great Lakes Veneer
Mr. Treadwell reported on the July 20, 2011 auction result.  An update on potential restructuring due to the auction was reviewed.  On a motion by Mr. Daniels, seconded by Mr. Kunzwiler, authorization to continue to perform due diligence evaluating restructuring options that could assist in the re-start of the Great Lakes Veneer plant and to continue using JC Jones & Associates to provide help relative to a feasibility study was approved.

Peck Road Site – Town of Richland
Mr. Treadwell reported that Operation Oswego County has retained Barton & Loguidice,  P.C. to prepare a comprehensive profile including a Phase I Environmental.  A discussion was held relative to potential development activities.

Authorities Budget Office – Webinar Training
Mr. Treadwell reported that the ABO will be providing PAAA training via webinars.

Novelis Corporation
Mr. Treadwell reported that there has been a delay in the formal ceremony for the expansion project.

FOIL Compliance
Mr. Caraccioli reviewed a proposed Application for Public Access to Records.  On a motion by Mr. Kunzwiler, seconded by Mr. Daniels, the Application was approved for Agency use.  A copy of the Application is attached and made an official part of the minutes.

Audit Committee
A meeting was scheduled for September 9, 2011, at 8:45 a.m. to review amending the Delinquent Loan Policy regarding the use of outside firms for collection.

Next IDA Meeting
September 9, 2011 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Kunzwiler, seconded by Mr. Schick, the meeting was adjourned at 10:50 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

July 7, 2011
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Daniels, Kunzwiler, Ospelt, Rush, Schick, Sorbello and Toth

Absent: None

Also Present: Kevin C. Caraccioli, David S. Dano, Matthew C. Lumia, Bryan A. Menar, and L. Michael Treadwell

Chair Rush called the meeting to order at 9:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the minutes of the June 21, 2011 meeting were approved.

TREASURER’S REPORT
No report.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website.  A notice was published in The Palladium Times on June 27, 2011.

EXECUTIVE SESSION
Chair Rush reported that due to matters involving financial information on a business which, if disclosed, would cause substantial injury to the competitive position of the business.  On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, it was approved to go into Executive Session at 9:12 a.m.

On a motion by Mr. Ospelt, seconded by Mr. Toth, the Executive Session ended at 10:40 a.m.

Great Lakes Veneer
On a motion by Mr. Ospelt, seconded by Mr. Toth, authorization was approved for the CEO, CFO and counsel to arrange a meeting with HSBC Bank and USDA to develop a comprehensive workout strategy and to request a delay in the scheduled auction.

On a motion by Mr. Ospelt, seconded by Mr. Daniels, the draft JC Jones & Associates high level business assessment was accepted.

On a motion by Mr. Sorbello, seconded by Mr. Schick, authorization was approved to initiate negotiations to expand the Lake Ontario Industrial Park by acquiring 8 to 10 acres from Great Lakes Veneer.

Novelis Corporation
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, a resolution was approved for undertaking the acquisition, construction and equipping of a certain project, appointing Novelis Corporation as Agent of the Agency for the purpose of the acquisition, construction and equipping of the project, approving financial assistance in the form of real property tax and sales and use tax exemptions and authorizing the execution and delivery of an agreement between the Agency and Novelis Corporation.  A copy of the Inducement Resolution is attached and made an official part of the minutes.

On a motion by Mr. Schick, seconded by Mr. Daniels, a resolution was approved approving a PILOT schedule and authorizing the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of Novelis Corporation.  A copy of the PILOT Resolution is attached and made an official part of the minutes.

On a motion by Mr. Toth, seconded by Mr. Ospelt, a resolution was approved authorizing the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of Novelis Corporation.  A copy of the Final Approving Resolution is attached and made an official part of the minutes.

ESDC Notification of Initial Allocation – 2011
Mr. Treadwell reported that the 2011 allocation was a 6.2% increase over 2010.  Attached and made an official part of the minutes is a copy of Notification of Initial Allocation dated June 21, 2011.

Peck Road Site – Town of Richland
Mr. Treadwell reported that a comprehensive site profile would be prepared for the 14 acre site.

Next IDA Meeting
August 11, 2011 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, the meeting was adjourned at 11:20 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

June 21, 2011
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Daniels, Kunzwiler, Rush, Sorbello and Toth

Absent: Ospelt and Schick

Also Present: L. Michael Treadwell

Chair Rush called the meeting to order at 9:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Toth, seconded by Mr. Kunzwiler, the minutes of the May 20, 2011 and June 2, 2011 meetings were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the Financial Statements for the period ended  April 30, 2011, were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website.  A notice was published in The Palladium Times on June 9, 2011.

Delinquent Loan Report
Mr. Treadwell reviewed the report for the period ended May 31, 2011.

Nellis & Peterson Properties, Inc./Physical Therapy Plus
Following a discussion and review of the financing application, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Nellis & Peterson Properties, Inc. Project will not have a significant effect on the environment.  A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Daniels, seconded by Mr. Sorbello, the financial assistance to acquire real estate and make renovations ($87,500) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is one file at the Agency.

Great Lakes Veneer
Mr. Treadwell reported that JC Jones & Associates had been retained.  Mr. Treadwell reviewed the potential use of the USDA Business & Industry Guarantee Program.  Following a discussion, the CEO was authorized to work with legal counsel to prepare a letter to GLV outlining the structure for potential financing.

Otis Products, Inc.
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Daniels, a PILOT modification was approved to adjust the start date from 2011 to 2012.

Donnelly Partners, LLC/Brewerton International Speedway
Mr. Treadwell provided an update on the project and outlined a potential modification in the scope of the project.

Circle T Motorsports, LLC/Oswego Speedway
Mr. Treadwell reported that the Agency had closed on the project and that one document was omitted and is in the process of being executed.

G&S Broadwell, Inc./Best Western Hotel & Conference Center
Following a discussion on the EDF loan, a modification was approved relative to the substitution of a guarantor for the assignment of life insurance.

County of Oswego Board of Ethics
Mr. Treadwell reported that the Annual Disclosure Forms for the CEO and CFO are not required.

Executive Session
Chair Rush reported that due to matters involving information on a business which, if disclosed, would cause substantial injury to the competitive position of the business.  On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, it was approved to go into Executive Session at 10:10 a.m.

On a motion by Mr. Sorbello, seconded by Mr. Toth, the Executive Session ended at 10:25 a.m.

Novelis Corporation
On a motion by Mr. Toth, seconded by Mr. Kunzwiler, a resolution was approved determining that the acquisition, construction and equipping of a commercial facility at the request of the company for use as a manufacturing facility constitutes a project; describing the financial assistance requested in connection therewith and authorizing a public hearing.  A copy of the Initial Resolution is attached and made an official part of the minutes.

On a motion by Mr. Daniels, seconded by Mr. Sorbello, the conflict of interest waiver request from Hiscock & Barclay, LLP in regard to the Novelis project was approved.

Lindsey Aggregates
Mr. Treadwell reported that USDA had approved the IRP loan.

Audit Committee
An Audit Committee meeting will be scheduled to review the Delinquent Loan Policy relative to the use of outside firms for collections.

Next IDA Meeting
July 7, 2011, at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Sorbello, seconded by Mr. Daniels, the meeting was adjourned at 10:45 a.m.

Respectfully Submitted,

L. Michael Treadwell
CEO

PRESENT: Kunzwiler, Ospelt, Rush, Schick, Sorbello and Toth

Absent: Daniels

Also Present: Alan Bargender, Rick Barton, Kevin C. Caraccioli, Martin Daley, David S. Dano and L. Michael Treadwell

Chair Rush called the meeting to order at 9:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

Executive Session
Chair Rush reported that due to matters involving information regarding a commercial enterprise and pending contractual agreements, there was a need to go into Executive Session. On a motion by Mr. Ospelt, seconded by Mr. Toth, it was approved to go into Executive Session at 9:05 a.m.

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the Executive Session ended at 9:50 a.m.

Dynegy/Sithe Independence
Chair Rush thanked Mr. Daley, Mr. Bargender and Mr. Barton for attending the meeting and making a thorough presentation. On a motion by Mr. Toth, seconded by Mr. Ospelt, authorization was approved for the CEO and Legal Counsel to negotiate an amended and restated PILOT Agreement consistent with the proposals as discussed in Executive Session.

APPROVAL OF MINUTES
On a motion by Mr. Schick, seconded by Mr. Sorbello, the minutes of the March 10, 2011, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the Financial Statements for the period ended January 31, 2011, were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on March 22, 2011.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended March 31, 2011. It was reported that four borrowers had been referred to Romeo & Romeo, P.C. for collection.

Operation Oswego County, Inc./Administrative Services Agreement
On a motion by Mr. Schick, seconded by Mr. Sorbello, the Administrative Services Agreement for 2011 and 2012 was approved.

Jackie’s Hair Designs
Following a discussion and review of the financing application, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Jackie’s Hair Designs Project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Sorbello, seconded by Mr. Toth, the financial assistance to construct and equip a building ($25,000) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Oswego County Board of Ethics
Mr. Treadwell reported that the Certification of Receipt of the Local Law and the Annual Financial Disclosure Statement is due on or before May 1, 2011.

Executive Session
Chair Rush reported that due to matters involving the financial history of a corporation, as well as regarding a commercial enterprise and the proposed acquisition of real property, the value of which would be substantially affected if publicly disclosed at this time, there was a need to go into Executive Session. On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 10:20 a.m.

On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, the Executive Session ended at 11:10 a.m.

Sure-Lock Industries, LLC
On a motion by Mr. Toth, seconded by Mr. Ospelt, the CEO, CFO, and Legal Counsel were authorized to continue negotiating the terms of a purchase of the Sure-Lock facility with Pathfinder Bank, conditioned upon acceptable lease terms with the owners of Sure-Lock Industries, consistent with the proposals discussed in Executive Session. The final approval of the IDA Board is required.

Mr. Treadwell and Mr. Caraccioli reported that the Phase I ESA and the Structural Assessment showed no concerns. Mr. Treadwell reported that IDA members were invited to tour the plant following the meeting.

IDA Tax Repealed
Mr. Treadwell reported that the Budget Legislation that passed included the repeal of the IDA Tax.

F-35 Funding
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, a Resolution in Support of Federal Funding for the F-35 Joint Strike Fighter Program was approved. A copy of the resolution is attached and made an official part of the minutes.

Indeck-Oswego Limited Partnership
Following a discussion regarding the termination of the PILOT Agreement and the Lease, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the receipt of a partial PILOT payment from Indeck, conditioned upon a pro-rated tax payment by the company in accordance with the current tax rates, as established by the tax jurisdictions, upon termination of the IDA’s beneficial interest in the Indeck facility located in the City of Oswego, was approved. The IDA Board also hereby authorized the CEO and Legal Counsel to negotiate a termination of the IDA’s existing PILOT Agreement and interest with the company and coordinate the placement of the facility on the tax rolls consistent with current New York State law.

Circle T Amusements, LLC/Oswego Speedway
Following a discussion and review of the application, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved determining that the acquisition, reconstruction, renovation and equipping of a commercial facility at the request of the company for use as an automobile racetrack, campground, parking, administrative functions, concession services, related services and a commercial event venue constitutes a project; describing the financial assistance requested in connection therewith and authorizing a public hearing. A copy of the Initial Resolution is attached and made an official part of the minutes.

Next IDA Meeting
April 19, 2011, at 3:00 p.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the meeting was adjourned at 11:30 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT: Daniels, Ospelt, Rush, Sorbello and Toth

Absent: Kunzwiler and Schick

Also Present: L. Michael Treadwell, Kevin C. Caraccioli and David S. Dano

Chair Rush called the meeting to order at 9:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the minutes of the February 11, 2011, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Toth, seconded by Mr. Daniels, the Financial Statements for the period ended December 31, 2010, were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on February 19, 2011.

Executive Session
Chair Rush reported that due to matters involving information regarding a commercial enterprise which, if disclosed, would cause substantial injury to the competitive position of the enterprise and due to matters relating to the potential acquisition of real property, there was a need to go into Executive Session. On a motion by Mr. Ospelt, seconded by Mr. Toth, it was approved to go into Executive Session at 9:10 a.m. to review matters associated with Sure-Lock Industries, LLC.

On a motion by Mr. Ospelt, seconded by Mr. Daniels, the Executive Session ended at 9:55 a.m.

Sure-Lock Industries, LLC
On a motion by Mr. Toth, seconded by Mr. Daniels, authorization was approved to finalize an agreement with Pathfinder Bank to acquire and finance the purchase of a 61,050 sf building on a 6.95 acre site located at East Seneca Street and St. Paul Street, Oswego, NY, as outlined in Option 1 in the proposal presented.

On a motion by Mr. Toth, seconded by Mr. Ospelt, authorization was approved for the CEO and counsel to finalize a lease for the building with Sure-Lock Industries, LLC in accordance with the terms and conditions in the proposal as amended.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended February 28, 2011. Mr. Caraccioli reviewed the proposal from Romeo & Romeo, PC regarding services associated with the collection of problem debt. On a motion by Mr. Sorbello, seconded by Mr. Toth, authorization to engage Romeo & Romeo, PC on an as needed basis was approved.

Bodified
Following a discussion and review of the financing application, on a motion by Mr. Sorbello, seconded by Mr. Ospelt, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Bodified, Inc. Project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Daniels, seconded by Mr. Ospelt, the financial assistance to acquire property and to renovate a building ($22,500) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

USDA “Non-Traditional Lender Designation”
Mr. Treadwell reported that the IDA has been approved as a “Non-Traditional Lender” for the USDA Business and Industry Guaranteed Loan Program. On a motion by Mr. Sorbello, seconded by Mr. Toth, authorization was approved for the CEO to execute and return to USDA the Form 4279-4, Lender’s Agreement Business and Industry Guaranteed Loan Program and Section 9006 Program.

The Wall Climbing Center
Mr. Dano reported that NYBDC had approved financing for the project.

HUD Interest Return – 2010
Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Ospelt, it was approved to return $1,328.03 (adjusted for 2009 overpayment).

Conflict of Interest Policy
In compliance with the policy adopted on January 9, 2008, an annual review was conducted and on a motion by Mr. Ospelt, seconded by Mr. Sorbello, no changes were recommended. In accordance with Article VI, Annual Affirmation Statements for those in attendance were completed.

Tame the Wild Professional Dog Grooming
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the term of the loan previously approved was changed from 5 to 10 years.

George Broadwell, Inc. d/b/a Captain’s Lounge
Mr. Caraccioli provided an update on litigation associated with an insurance matter.

2010-11 Administrative Services Assessment/Cost Recovery System
Following a discussion and an update on the legislative action on the bill to repeal the law and the adjustment request filed on February 4, 2011, to the NYS Division of the Treasury to amend the Operating Revenue by a reduction of $260,758 (Allowance for Loan Losses), on a motion by Mr. Sorbello, seconded by Mr. Toth, the following were approved and authorized: (1) pay the invoice in full or as amended on or before the March 31, 2011 deadline, (2) payment to be made “under protest,” and (3) send a letter of support for S.2682 (Ranzenhofer) that would repeal the “IDA Tax.”

Procurement Policy
Following a review of the existing policy as amended on February 13, 2009, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, it was approved to continue the policy with no changes.

Investment Policy Compliance Report
Mr. Treadwell reported that the Agency was in compliance with the collateral requirements for FY ended July 31, 2010.

Matangi, Modheshwari and Mahalaxmi Motels, LLC
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, a 3-month deferment of principal and interest payments on the three motels were approved.

Next IDA Meeting
April 6, 2011, at 9:00 a.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Toth, seconded by Mr. Sorbello, the meeting was adjourned at 11:35 a.m.

Respectfully Submitted,

L. Michael Treadwell
Chief Executive Officer

PRESENT: Daniels, Ospelt, Rush, Schick, Sorbello and Toth

Absent: Kunzwiler

Also Present: L. Michael Treadwell, Kevin C. Caraccioli and David S. Dano

Chair Rush called the meeting to order at 9:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Sorbello, seconded by Mr. Ospelt, the minutes of the December 16, 2010, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Ospelt, the Financial Statements for the period ended November 30, 2010, were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on January 21, 2011.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended January 31, 2011. On a motion by Mr. Ospelt, seconded by Mr. Schick, authorization was approved to commence litigation against Great Lakes Veneer.

Tame The Wild Professional Dog Grooming
Following a discussion and review of the financing application, on a motion by Mr. Sorbello, seconded by Mr. Ospelt, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Tame The Wild Professional Dog Grooming Project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Ospelt, seconded by Mr. Schick, the financial assistance for construction ($25,000) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis in on file at the Agency.

Sashes & Lace, Inc.
Following a discussion and review of the financing application, on a motion by Mr. Ospelt, seconded by Mr. Schick, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Sashes & Lace, Inc. Project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Toth, seconded by Mr. Sorbello, the financial assistance for renovations ($50,000) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Ms. Rush abstained.

The Wall Climbing Center, LLC
Following a discussion and review of the financing application, on a motion by Mr. Sorbello, seconded by Mr. Ospelt, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for The Wall Climbing Center, LLC Project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Schick, seconded by Mr. Ospelt, the financial assistance for equipment, marketing, signage and working capital ($25,000) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Mission Statement/Goals and Objectives
Following a review of the Mission Statement/Goals and Objectives that were adopted on September 20, 2005 and following a discussion on necessary and appropriate changes and modifications, on a motion by Mr. Daniels, seconded by Mr. Toth, the Mission Statement remained unchanged as follows:

The County of Oswego Industrial Development Agency’s mission is to establish and implement sound economic development strategies in order to enhance the economic vitality of Oswego County’s businesses, industries, communities, and citizens, leading to an overall better quality of life. Key to the Agency’s mission is the creation and retention of job opportunities, diversification and strengthening of Oswego County’s economic base, and developing the local economy in a planned, organized, and environmentally compatible manner.

The Goals were modified as follows:

• To create new employment opportunities through the attraction of or the creation of new businesses;
• To create new employment opportunities through the expansion of existing businesses;
• To retain existing employment opportunities;
• To enhance and encourage capital investment by new and expanding businesses;
• To increase the County’s tax base;
• To help stabilize and diversify the County’s local economy;
• To help facilitate the development of essential services or businesses generally lacking in the County;
• To target financial assistance to key industrial clusters critical to the County’s economy, including manufacturing, health care, education, tourism, energy, and agribusiness;
• To leverage the greatest level of private and non-IDA financial assistance as possible;
• To coordinate efforts to help improve the competitive position of businesses and spur initiatives that help to improve the overall business climate;
• To work cooperatively with local governments, economic development partners, and school districts to further economic development progress; and
• To improve the quality of life in Oswego County.

The NYS ABO’s “Authority Mission Statement and Performance Measurements” form required for compliance with Section 2824-a and Section 2800 of the PAL was reviewed and authorized to be submitted to the NYS ABO on or before March 31, 2011.

Following a discussion on the Objectives, on a motion by Mr. Schick, seconded by Mr. Sorbello, the Objectives as amended below were adopted:

• The issuance of Private Activity Bonds (tax-exempt or taxable bonds) to finance eligible manufacturing and commercial projects. The issuance of Civic Facility Revenue Bonds (tax-exempt or taxable bonds) to finance eligible not-for-profit 501(c)(3) organizations’ projects (subject to authorizing NYS legislation).
• To help support and work cooperatively with the Oswego County Civic Facilities Corporation to help finance eligible not-for-profit 501(c)(3) organizations’ projects with Civic Facility Revenue Bonds.
• The issuance of tax-exempt bonds for pollution control facilities.
• The issuance of tax-exempt bonds for other projects that are eligible for financing in compliance with Federal and NYS legislation.
• Providing to eligible and qualified businesses exemptions from real property taxes, sales and use taxes, and mortgage recording taxes consistent with the County of Oswego IDA’s Uniform Tax Exemption Policy.
• Providing financial assistance to micro-enterprise businesses utilizing the County of Oswego IDA’s Micro-Enterprise Economic Development Fund.
• Providing financial assistance to eligible and qualified businesses utilizing the County of Oswego IDA’s PILOT Economic Development Fund and HUD Economic Development Fund.
• Utilizing the County of Oswego IDA’s General Economic Development Fund to enhance economic development initiatives and strategies.
• Providing financial assistance to eligible and qualified businesses utilizing the USDA Intermediary Relending Program (IRP).
• Serving as a conduit, as appropriate, to apply for and secure Federal and State government grants and/or loans for economic development projects.
• Providing bridge financing for eligible and qualified businesses that will be receiving permanent financing through the SBA 504 loan program in cooperation with Operation Oswego County, Inc.
• Assisting in acquiring, constructing, and renovating necessary and appropriate real estate, working in cooperation with Operation Oswego County, Inc., to enhance and further economic development, including industrial park properties, incubator facilities, speculative buildings, and sites, etc.
• Collecting and distributing PILOT payments to taxing authorities in accordance with the General Municipal Law of the State of New York.
• Complying with the State Environmental Quality Review Act (SEQRA) on all projects assisted by the County of Oswego IDA.
• Working in partnership with government, education, labor, business and economic development agencies to maximize development potential and sustainability of the economy in Oswego County.
• To be in compliance with all reporting and policy requirements specified by the NYS GML, NYS Office of the State Comptroller, NYS ABO, and the PAL.

Executive Session
On a motion by Mr. Toth, seconded by Mr. Ospelt, it was approved to go into Executive Session at 10:00 a.m. to review matters involving the proposed acquisition of real property sensitive to publicity and the financial history of a business which, if disclosed, would cause substantial injury to the competitive position of the enterprise. The following agenda item was authorized: Sure-Lock Industries.

On a motion by Mr. Toth, seconded by Mr. Ospelt, the Executive Session ended at 10:40 a.m.

Sure-Lock Industries
On a motion by Mr. Toth, seconded by Mr. Ospelt, authorization was approved to continue negotiating regarding strategies relative to the restructuring of financing involving Sure-Lock Industries taking into consideration all factors discussed in the Executive Session.

Article on 25 years of Lending
A copy of the article is attached and made an official part of the minutes.

USDA IRP
Mr. Treadwell reported that the closing with the USDA on the IRP Program took place on January 12, 2011.

Columbia Mills
Mr. Treadwell reported that the site has been posted.

D&D Logging & Lumber
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Toth, a 6-month deferment of principal and interest payments was approved.

Little Lukes
Mr. Treadwell reported that the Pulaski Early Learning Center’s loan has been paid off due to the business being acquired by Little Lukes.

Mr. Treadwell reported that Little Lukes also has plans to convert the former Golden Corral in Fulton to a child care center.

Oswego Hamilton Homes, Phase III
Mr. Treadwell reported that the scheduled closing for the final Phase is February 17, subject to change.

PAL – Cost Recovery System
Mr. Treadwell reported that a formal request has been submitted to the NYS Dept. of Taxation and Finance to have an adjustment made to the 2010-11 Assessment associated with the “Allowance for Loan Losses.”

Mr. Treadwell also outlined the NYSEDC Strategy on the IDA Tax.

Fulton Cogeneration Associates
It was reported that the El Paso Settlement has been finalized and paid.

Next IDA Meeting
March 10, 2011, at 9:00 a.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Sorbello, seconded by Mr. Ospelt, the meeting was adjourned at 11:55 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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