IDA Minutes:

2012

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
January 23, 2012
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, Maura Wegerski Holst, 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. Ospelt, the minutes of the December 22, 2011 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Financial Statements for the period ended November 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 January 7, 2012.

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. Sorbello, it was approved to go into Executive Session at 9:10 a.m.

On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, the Executive Session ended at 9:40 a.m.

Glenn Donnelly Partners, LLC/Central NY Raceway Park
Mr. Caraccioli provided a brief overview of the status of the project as it related to a number of concerned property owners in the area.  Ms. Holst was attending the meeting as counsel on behalf of one property owner.  Ms. Holst provided a summary of concerns for Mr. John Wegerski, a property owner in the area.  The concerns were:  (1) the environmental impact on the neighbors on Little Bay and Big Bay on the Oneida River.  The NYS DEC to investigate silk issues in the Spring; (2) proximity to the Central Square School District’s Middle School; (3) noise and its impact on property values; (4) traffic concerns; (5) authority of the IDA to participate in financing the project; and (6) the potential use of Eminent Domain powers.

Ms. Holst stated that she was not aware of any action taken by the NYS DEC at this time.

Following a discussion, Mr. Caraccioli reported that the Agency was (1) seeking further review and clarification of the GML from H&B regarding the race track project’s eligibility for IDA assistance; (2) that the Agency counsel’s letter dated November 2, 2011, was not intended to be the trigger date relative to an Article 78 Action; and (3) the Agency’s first preference has been and is a mutually acceptable agreement.  Counsel was authorized to provide clarification regarding these matters to the appropriate counsels regarding the parties involved.

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. Ospelt, seconded by Mr. Sorbello, it was approved to go into Executive Session at 10:00 a.m.

On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the Executive Session ended at 11:00 a.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended December 31, 2011.  A discussion was held authorizing follow-up on the loan with St. Peters Outfitter.  On a motion by Mr. Schick, seconded by Mr. Ospelt, the settlement proposal for the Stevener Holdings project dated December 18, 2011, was rejected and authorization to continue legal action was authorized.

Great Lakes Veneer
Mr. Treadwell reviewed the results of the auction held on January 10, 2012.  A discussion was held regarding acquiring 8-10 acres to expand the Lake Ontario Industrial Park.  The cost of acquisition would be applied toward the debt.  On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, authorization to conduct an environmental assessment was approved.

Harbor Lights Services of CNY, 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 Harbor Lights Services 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 for M&E, F&F and working capital ($70,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Susan Skinner d/b/a Puddle Jumpers
Following a discussion and review of the financing application, on a motion by Mr. Kunzwiler, 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 Puddle Jumpers 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. Kunzwiler, the financial assistance for M&E, F&F, working capital and inventory ($15,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit analysis is on file at the Agency.

Barnett Forest Products, LLC
Following a discussion and review of the financing application, on a motion by Mr. Daniels, seconded by Mr. Sorbello, 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 Barnett Forest Products 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 for a log truck ($35,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

BirdsEye Plant
Mr. Treadwell reviewed the prospect activity to date.  A discussion was held regarding IDA assistance.  Mr. Treadwell reported that there could be a buyer interested only in the freezer space, therefore, marketing would continue regarding the manufacturing space.

Laser Transit
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Sorbello, a 6-month loan deferment was approved.

Oswego YMCA
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, a 6-month loan deferment was approved.

Sunoco
Following a discussion on plans for additional investments, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, the request for an extension of the Sales and Use Tax Exemption Letter through December 31, 2012, was approved.

WRVO
Mr. Treadwell reported that WRVO plans to do a series on IDA assisted projects.

Council of Development Finance Agencies
On a motion by Mr. Ospelt, seconded by Mr. Schick, authorization to pay the 2012 member dues was approved.

Brewerton Building Supply Corp.
After a discussion, it was agreed to evaluate options relative to restructuring and modifying debt financing.

Next IDA Meeting
February 15, 2012 at 3:00 p.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

H. Leonard Schick
Secretary

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

Absent: Kunzwiler

Also Present: Kevin C. Caraccioli, David S. Dano, Robert Lockie, Ronald Perryman and L. Michael Treadwell

Chair Rush called the meeting to order at 5:15 p.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 January 23, 2012 meeting 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 31, 2012.

Everest Cold Storage
Mr. Perryman provided an overview of the firm’s plans to acquire the Birds Eye plant in Fulton and utilize the cold storage space and to work with the County of Oswego IDA and Pyramid Brokerage on finding a user for the manufacturing space.

Following a discussion and review of the application, on a motion by Mr. Ospelt, seconded by Mr. Toth, a resolution determining  that the acquisition, renovation and equipping of a commercial facility at the request of the company for use as a commercial 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.

­Pulaski Academy and Central School
Mr. Treadwell distributed a letter dated January 26, 2012 from the school district expressing appreciation of the Agency’s handling of the PILOT Agreement regarding Hansdev Inc.  A copy of the letter is attached and made an official part of the minutes.

HUD Interest Return – 2011
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Sorbello, it was approved to return $3,015.92.

RGC-SRE Oswego Acquisition, LLC/Seaway Lofts
Following a discussion, on a motion by Mr. Daniels, seconded by Mr. Ospelt, the HUD EDF Loan No. 4112 terms related to interest for the second half of the 30-year term was modified to be fixed at 4%.

Oswego Recycling
Mr. Caraccioli reported that the settlement sale of collateral resulted in the IDA receiving approximately 67% of the outstanding balance on the loan.

Next IDA Meeting
February 15, 2012 at 3:00 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Toth, seconded by Mr. Ospelt, the meeting was adjourned at 6:15 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
February 15, 2012
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Daniels, Ospelt, Schick, Sorbello and Toth

Absent: Kunzwiler and Rush

Also Present: Kevin C. Caraccioli, David S. Dano, L. Michael Treadwell, John Lehmann, Greg Rigby, Scott Chatfield, Amy Casper and David Kirk

Vice Chair Toth called the meeting to order at 3:00 p.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 7, 2012 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Sorbello, the Financial Statements for the period ended December 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 February 4, 2012.

Glenn Donnelly Partners LLC/CNY Raceway Park
An update of the status of the project was presented by Mr. Chatfield.  Discussions were held on matters related to tree removal/cutting, siltation, flagging of adjacent property, retaining a firm to conduct a Long Form EAS relative to the SEQRA process with the Town of Hastings, and ongoing negotiations with a property owner to acquire a portion of their property.

Ms. Casper, CEO of Ephesus Technologies, discussed the planned use of the LED lighting their company designs and produces at the CNY Raceway Park.

Following a discussion on financing options for the project, Mr. Chatfield requested that the IDA initiate steps to begin advancing the potential use of Eminent Domain for purposes of one parcel of land that is essential and critical to the development of the project, if efforts to come to a reasonable settlement can not be reached between the parties.

Executive Session
Vice Chair Toth reported that due to matters involving potential or pending litigation regarding the Glenn Donnelly Partners, LLC/CNY Raceway Park project and other matters involving financial information on  individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Sorbello, seconded by Mr. Ospelt, it was approved to go into Executive Session at 5:04 p.m.

On a motion by Mr. Ospelt, seconded by Mr. Schick, the Executive Session ended at 5:23 p.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended January 31, 2012.

Glenn Donnelly Partners, LLC/CNY Raceway Park
On a motion by Mr. Schick, seconded by Mr. Ospelt, counsel was authorized to notify all involved parties that based on legal opinion that the project does qualify for financial assistance from the Agency and to request from the developer a formal written request for Eminent Domain action regarding the Colette Emmons Property that would be placed on the Agency’s agenda at its next meeting.

Brewerton Building Supply Corp.
The matter was tabled.

Reflections A Collective Salon
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 Reflections A Collective Salon 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. Daniels, the financial assistance for renovations and working capital ($35,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Micro EDF
Mr. Treadwell reported that loans previously approved for the Branches Tree Service and Top This Pizza are being terminated.

IDA Audit FY Ending 7/31/12
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Daniels, authorization was approved to accept the January 24, 2012, confirmation of understanding services letter from Green & Seifter.

County of Oswego Board of Ethics
All IDA Board of Directors indicated that they have received the Annual Financial Disclosure Statements.

Birds Eye Plant
Following a discussion on the status of two potential projects and concerns about the refrigerated warehouse space being maintained in an operational mode while potential buyers conduct their due diligence, on a motion by Mr. Schick, seconded by Mr. Daniels, authorization was approved to commit up to $90,000 to share 50/50 with Pinnacle the cost of keeping the space in operations for the due diligence period not to exceed 90 days.  Counsel was authorized to work with Pinnacle on an acceptable agreement.

Great Lakes Veneer
Following a discussion, counsel was authorized to follow-up on the settlement with HSBC and/or the auctioneer for the IDA equipment that was sold on January 10, 2012.

Next IDA Meeting
March 8, 2012 at 2:00 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Ospelt, seconded by Mr. Daniels, Ospelt, the meeting was adjourned at 6:05 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
March 14, 2012
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, Scott Chatfield, David S. Dano, Glenn Donnelly, Brian Lauri, Greg Rigby, L. Michael Treadwell and John P. Wegerski III

Chair Rush called the meeting to order at 2:30 p.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. Ospelt, the minutes of the February 15, 2012 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Schick, the Financial Statements for the period ended January 31, 2012 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 7, 2012.

Glenn Donnelly Partners LLC/CNY Raceway Park
Mr. Chatfield provided a background on property acquisition, problems negotiating the acquisition of one parcel and an update on the SEQRA process with the Town of Hastings.  The company has engaged the services of TDK Engineering to complete the Long Form EAS.  Noted that in order to conduct the EAS, they must be allowed to be on the property that has not been secured.  Mr. Chatfield, via a letter dated February 16, 2012, and by verbal request at this meeting requested that the IDA commence the Eminent Domain process to facilitate the CNY Raceway Park project.

Mr. Lauri, counsel for the owner of the unsecured parcel, noted that Eminent Domain was not needed for the other parcels.  He also represented that his client was willing to negotiate in a business like manner and would consider a reasonable offer.  He also noted the problem associated with the logging on his client’s site and appropriate compensation.

Mr. Wegerski stated that he present to provide the community member perspective regarding the proposed CNY Raceway Park project.  He related the project to the listed goals in the IDA application.  He expressed concerns regarding noise, increased traffic and other environmental issues.  He noted that the project did not qualify for IDA assistance based on the definition of a racetrack.  Mr. Wegerski stated that the project opposition is location and not being against the project’s economic development impact.

Mr. Chatfield reported that the developer has deposited funds with the Town of Hastings to cover engineering services necessary for the SEQRA process.  They have met with the Town’s Development Review Committee, and have removed the drag strip from the project due to noise concerns.  On January 5, 2012, a public hearing was held associated with an application for a special use permit.  However, in order for the Town to entertain a permit, the developer must have control of all the land for the project, thus the need for Eminent Domain.

Mr. Donnelly addressed the noise factor that would be associated with the racetrack and the road course, stating that the decibel levels would be low due to the muffler systems that would be used. 

Mr. Caraccioli outlined the Eminent Domain process.  It was verified that all parcels have been either acquired or are under contract except for the Emmons parcel.

There was a discussion between Mr. Chatfield and Mr. Lauri on settling on a reasonable price.

EXECUTIVE SESSION
Chair Rush reported that due to matters involving potential or pending litigation regarding the Glenn Donnelly Partners, LLC/CNY Raceway Park project, on a motion by Mr. Schick, seconded by Mr. Ospelt, it was approved to go into Executive Session at 4:25 p.m.

On a motion by Mr. Sorbello, seconded by Mr. Ospelt, the Executive Session ended at 4:50 p.m.

Glenn Donnelly Partners LLC/CNY Raceway Park
On a motion by Mr. Schick, seconded by Mr. Toth, authorization was approved to retain Hiscock & Barclay, LLP as special counsel to prepare a “Developer Agreement” in furtherance of the Eminent Domain process.

EXECUTIVE SESSION
Chair Rush reported that due to matters involving potential or pending litigation and other matters involving financial information on individuals and on businesses which, if disclosed would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Ospelt, seconded by Mr. Toth, it was approved to go into Executive Session at 4:56 p.m.

On a motion by Mr. Sorbello, seconded by Mr. Schick, the Executive Session ended at 5:30 p.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended February 29, 2012.  On a motion by Mr. Schick, seconded by Mr. Ospelt, authorization was approved to initiate legal action relative to the personal guarantees associated with the WiseBuys project.

MF Graphics
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 MF Graphics 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. Toth, the financial assistance for renovations ($35,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

R.M. Burritt Motors, Inc.
Following a discussion and review of the application, on a motion by Mr. Toth, seconded by Mr. Sorbello, a resolution was approved determining that the acquisition, construction, renovation and equipping of a commercial facility at the request of the company for use as a commercial 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.

Following a discussion and review of the financing application, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, 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 R.M. Burritt Motors 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 M&E and renovations ($300,000) was approved.  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. Schick, a waiver of conflict disclosure for Caraccioli & Associates was approved.

RiverHouse Restaurant/RHR Southern LLC
Following a discussion, on a motion by Mr. Schick seconded by Mr. Ospelt, the refinancing of the IDA PILOT EDF Loan No. 4012 was approved in the amount of $32,462.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

LEEH, LLC/Premier Living Suites
Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, a resolution was approved determining that the acquisition, construction, and equipping of a commercial facility at the request of LEEH, LLC, a New York Limited Liability Company, for use as a student housing complex 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.

Following a discussion and review of the financing application, on a motion by Mr. Toth, seconded by Mr. Ospelt, a resolution was adopted concurring the with findings of the City of Oswego Planning Board acting as the Lead Agency for purposes of a review pursuant to the SEQRA and determining that the LEEH, LLC Project wil 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. Sorbello, the financial assistance for M&E and construction ($325,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

RGC-SRE Oswego Acquisitions, LLC/Seaway Lofts Associates, LLC
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, a resolution was approved clarifying the name of the company with respect to a certain project previously approved by the Agency.  A copy of the Resolution is attached and made an official part of the minutes.

On a motion by Mr. Schick, seconded by Mr. Ospelt, a resolution was approved approving an extension of the Agency Agreement between the Agency and the Company.  A copy of the Approving Resolution is attached and made an official part of the minutes.

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

On a motion by Mr. Sorbello, 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 Amended Final Approving Resolution is attached and made an official part of the minutes.

Great Lakes Veneer
Mr. Dano and Mr. Caraccioli provided an update on the January 10, 2012 auction.

Disposition of Property Guidelines
Following a review and discussion, on a motion by Mr. Toth, seconded by Mr. Schick, the County of Oswego IDA Disposition of Property Guidelines were approved with no changes.  A copy of the Guidelines are attached and made an official part of the minutes.  The CEO was appointed to serve as the Contracting Officer.

BirdsEye Plant
Mr. Treadwell reported that the Cost Sharing Agreement with Pinnacle Foods Group, LLC for the operation of the freezer facilities was in place.

Huhtamaki/NYS DOT
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Schick, authorization was approved to sign a New York State Department of Transportation Office of Right-Of-Way Assignment of Claim and Release associated with the rehabilitation of the Route 3 Bridge.

PILOT EDF
Mr. Treadwell reported that a loan previously approved for Wire Road, LLC (Oswego Project) is being terminated.

PARIS Report
Mr. Treadwell reported that information had been submitted for the Procurement Report to correct the matter associated with the ABO report dated January 27, 2012.

Circle T Motorsports/Oswego Speedway
Following a discussion and review of the financing application, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, 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 Circle T Motorsports 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 acquisition, improvement and M&E ($80,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

On a motion by Mr. Toth, seconded by Mr. Sorbello, a PILOT Agreement modification was approved associated with the acquisition of property located at 125 City Line Road in Oswego in order to expand campground capacity.  Schedule A will be amended to reflect the increase in the base.

Sure-Lock Industries
Mr. Dano reported on the car accident of January 26, 2012 that damaged the building.

Next IDA Meeting
April 30, 2012 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Sorbello, seconded by Mr. Ospelt, the meeting was adjourned at 6:10 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
April 16, 2012
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, Jean S. Everett and L. Michael Treadwell

Vice Chair Toth called the meeting to order at 3:00 p.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 March 14, 2012 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Daniels, the Financial Statements for the period ended February 29, 2012 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 April 11, 2012.

Executive Session
Vice Chair Toth reported that due to matters involving the history and financing of a corporation, Winter Harbor, LLC, on a motion by Mr. Ospelt, seconded by Mr. Schick, it was approved to go into Executive Session at 3:05 p.m.

On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Executive Session ended at 3:15 p.m.

Winter Harbor, LLC
On a motion by Mr. Kunzwiler, seconded by Mr. Daniels, a resolution was approved authorizing a mortgage subordination request by Winter Harbor, LLC.  A copy of the Authorizing Mortgage Subordination Request By Winter Harbor, LLC Resolution is attached and made an official part of the minutes.

Executive Session
Vice Chair Toth reported that due to matters with communications from the NYS ABO dated March 23, 2012, and a review of a legal opinion, on a motion by Mr. Ospelt, seconded by Mr. Schick, it was approved to go into Executive Session at 3:20 p.m.

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the Executive Session ended at 4:05 p.m.

NYS ABO
On a motion by Mr. Kunzwiler, seconded by Mr. Daniels, authorization was approved to respond to the NYS ABO regarding the March 23, 2012 communications.

Stevedore Lofts, LLC
A discussion was held relative to a technical problem associated with the collection and disbursement of the 2012 PILOT payment due to matters associated with the timing of the closing with the IDA.  Mr. Caraccioli reviewed how it was handled with the County.  On a motion by Mr. Schick, seconded by Mr. Ospelt,  authorization was approved to make payment to the City of Oswego for the difference in the PILOT already disbursed and the amount due to the City for 2012 and to invoice Stevedore Lofts, LLC for that amount.  In addition, it was approved to amend the PILOT to extend the schedule for one year with the first year beginning in 2013.

Next IDA Meeting
April 30, 2012 meeting was cancelled and May 2, 2012, at 3:00 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the meeting was adjourned at 4:20 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
May 2, 2012
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT:  Daniels, Kunzwiler, Schick, Sorbello and Toth

Absent:     Ospelt and Rush

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

Vice Chair Toth called the meeting to order at 3:00 p.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. Daniels, the minutes of the April 16, 2012 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 April 20, 2012.

Executive Session
Vice Chair Toth reported that due to matters involving pending and potential litigation regarding the Glenn Donnelly Partners, LLC/CNY Raceway Park project, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 3:08 p.m.

On a motion by Mr. Sorbello, seconded by Mr. Schick, the Executive Session ended at 3:25 p.m.

Glenn Donnelly Partners, LLC/CNY Raceway Park
Mr. Lauri provided an update on the negotiations relative to the Emmons property in the Town of Hastings. Mr. Lauri noted that they were “pretty close” and that there was a reasonable possibility of finalizing a sale. Mr. Lauri noted that there needs to be work on resolving some of the buyer’s conditions and it was noted that immediate access to the property for required studies would be granted with a contract.

Following a discussion, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a resolution was approved appointing Glenn Donnelly Partners, LLC the Preferred Developer for the purpose of possible future development of a certain project and authorizing the negotiation and execution of a Preferred Developer Agreement in a manner consistent with the Agency’s corporate purposes.  A copy of the Resolution is attached and made an official part of the minutes.

R.M. Burritt Motors, Inc.
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved classifying the acquisition, construction, renovation and equipping of a certain project at the request of the company as an unlisted action pursuant to the SEQRA and determining that the project will not have a significant effect on the environment.  A copy of the SEQRA Resolution is attached and made an official part of the minutes.

Following a discussion, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a resolution was approved authorizing the undertaking the acquisition, construction, renovation and equipping of a certain project, appointing the company agent of the Agency for the purpose of the acquisition, construction, renovation and equipping of the project, approving financial assistance in the form of real property tax, mortgage recording tax, sales and use tax exemptions, a loan from the Agency’s Economic Development Fund in an amount not to exceed $300,000 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.

Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, 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.

Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, 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.

Whitewater Commons, Inc.
Following a discussion and review of the application, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a resolution was approved determining that the acquisition, construction and equipping of additions to commercial facilities at the request of the company for use as office space and apartment units 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.

Seaway Lofts, LLC
Mr. Caraccioli summarized a request from the company to close on the HUD EDF loan and pay interest only until the funds are drawn down.  On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the request was approved.

Huhtamaki, Inc.
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, the company’s request to modify the LOC for two IDA loans to be in line with the outstanding balances was approved.

Website/Loan Application
Mr. Treadwell reported that changes were being made to correct loan information on the site and on the loan application as they related to the General EDF.

Erie Boulevard Hydros-Orwell
Mr. Caraccioli reported that discussions are ongoing regarding a PILOT amendment for a one-year extension.

Executive Session
Vice Chair Toth reported that due to matters involving financial information on individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 4:45 p.m.

On a motion by Mr. Daniels, seconded by Mr. Schick, the Executive Session ended at 5:18 p.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended April 30, 2012.

BirdsEye Plant
Mr. Treadwell reported on interest by several companies in the plant related to food processing.

Precision Wood Products
Mr. Treadwell reviewed a potential bakery project.

Next IDA Meeting
May 17, 2012 at 9:30 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Kunzwiler, seconded by Mr. Daniels, the meeting was adjourned at 5:35 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
May 17, 2012
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

Chair Rush called the meeting to order at 9:30 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. Daniels, the minutes of the May 2, 2012 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Ospelt, the Financial Statements for the period ended March 31, 2012 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 May 9, 2012.

Delinquent Loan Report
No report.

Executive Session
Chair Rush reported that due to matters involving the history and financing of a corporation and potential pending litigation, on a motion by Mr. Ospelt, seconded by Mr. Toth, it was approved to go into Executive Session at 9:35 a.m.

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the Executive Session ended at 10:48 a.m.

Mark’s Letters, Signs & Specialties
Following a discussion and review of the financing application, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, 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 Mark’s Letters, Signs & Specialties 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. Sorbello, the financial assistance for equipment and working capital ($20,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Jay F. Sullivan, MD
Following a discussion and review of the financing application, on a motion by Mr. Ospelt, 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 Jay F. Sullivan, MD 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. Ospelt, the financing assistance for an M&E service/calibration contract ($31,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

607 Phillips Street Acquisition, LLC
Following a discussion and review of the application, on a motion by Mr. Schick seconded by Mr. Ospelt, 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 poultry product processing and frozen distribution warehouse 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.

Following a review of proposed Economic Development Incentives, on a motion by Mr. Schick, seconded by Mr. Ospelt, authorization was approved for the CEO to submit the proposal to the company subject to the normal customary and required process necessary for a formal approval.

Whitewater Commons, Inc.
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved classifying the acquisition, construction, and equipping of a certain project at the request of the company as an unlisted action pursuant to the SEQRA and determining that the project will not have a significant effect on the environment.  A copy of the SEQRA Resolution is attached and made an official part of the minutes.

Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, a resolution was approved authorizing the undertaking the acquisition, construction, and equipping of a certain project, appointing the company 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, mortgage recording tax, sales and use tax exemptions and a loan from the Agency’s Economic Development Fund in an amount not to exceed $125,000 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.

Following a discussion, on a motion by Mr. Schick, 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.

Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, 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.

On a motion by Mr. Sorbello, seconded by Mr. Schick, the financial assistance for construction ($125,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Sithe/Independence Power Partners, LP
Mr. Caraccioli reviewed a request by the company to consent to a Fee and Leasehold Mortgage, Security Agreement, Assignment of Rents and Leases, Financing Statement and Fixture Filing.  On a motion by Mr. Ospelt, seconded by Mr. Toth, authorization was approved for the CEO to execute required documents.

Budget Reports
Following a review, on a motion by Mr. Sorbello, seconded by Mr. Schick, the following budgets were approved and authorized to be submitted to the State:

• Actual Revenues and Expenses (8/1/10 – 7/31/11)
• Estimated Revenues and Expenses (8/1/11 – 7/31/12)
• Projected Revenues and Expenses (8/1/12 – 7/31/13)

A copy of the budget reports are attached and made an official part of the minutes.

The Projected Revenues and Expenses Budget Report for 8/1/12 – 7/31/13 included an amendment to the Professional Services contract with Operation Oswego County, Inc. increasing the amount from $200,000 to $210,000.

Port of Oswego
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Ospelt, authorization was approved for the County of Oswego IDA to be the applicant for an EPA Phase Two Assessment Grant.

Mr. Daniels was not present for the discussion and vote.

Glenn Donnelly Partners, LLC/CNY Raceway Park
Mr. Caraccioli reported that negotiations are ongoing on property acquisition.

Bishops Commons, Inc.
A discussion was held relative to matters associated with the payoff of the Agency’s bonds and the termination of the lease and PILOT Agreement.

Next IDA Meeting
June 4, 2012 at 10:00 a.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
June 4, 2012
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

Chair Rush called the meeting to order at 10:00 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 May 17, 2012 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 May 23, 2012.

Executive Session
Chair Rush reported that due to matters involving the history and financial information on individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, it was approved to go into Executive Session at 10:08 a.m.

On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the Executive Session ended at 11:35 a.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended May 31, 2012.  On a motion by Mr. Kunzwiler, seconded by Mr. Schick, authorization to initiate legal action was approved for St. Peter’s Outfitter, LLC.  On a motion by Mr. Schick, seconded by Mr. Daniels, authorization to initiate legal action was approved for Woodruff Block, LLC.

Design Concepts and Enterprises, LLC
Following a discussion and review of the financing application, on a motion by Mr. Daniels, 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 Design Concepts and Enterprises, 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. Ospelt, seconded by Mr. Toth, the financial assistance for a clean room and M&E ($235,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Phillips Street Acquisition, LLC
Mr. Treadwell provided an updated status report on the project and other interest in the BirdsEye facility in Fulton, NY.  Following a discussion on the amended proposed Economic Development Incentives being requested, on a motion by Mr. Daniels, seconded by Mr. Toth, it was approved to only amend the incentives to include a deferred loan not to exceed $200,000.  Mr. Kunzwiler and Mr. Schick voted nay on the amendment.
The Wall Climbing Center
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Schick, it was approved to provide a 5-month loan deferment for the period May-September 2012.

V-Square Management/Kallet Theater
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Sorbello, it was approved to increase the “Bridge” loan for the project from $240,000 to $309,250 and to partner with the CNYEDC on the “Bridge” financing.

Operation Oswego County, Inc. Annual Meeting
Mr. Treadwell reported that the meeting will be held on June 15, 2012 at the SUNY Oswego Campus Center at 8:00 a.m.

Operation Oswego County, Inc./Administrative Services Agreement
On a motion by Mr. Daniels, seconded by Mr. Toth, the Administrative Services Agreement for 2012 and 2013 was approved.

Great Lakes Veneer
Mr. Caraccioli reviewed the auction settlement regarding the CNYEDC.

Consolidated Funding Application (Round 2)
A discussion was held on using the CFA process to compete for a share of the $3 million in funding that will be available through the NYS Ag and Markets.  On a motion by Mr. Schick, seconded by Mr. Kunzwiler, authorization was approved to submit a CFA application to request $250,000 to be matched with $250,000 from the IDA to establish an EDF targeted for “Agri-Business” in which a combination of a grant (25%) and loan (75%) would be available for eligible projects.

LEEH, LLC
Mr. Treadwell reported that the Agency must adopt amended resolutions before the Agency can close on the project.

R.M. Burritt Motors, Inc.
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, authorization was approved due to the Agency’s leasehold interest to be included as an additional mortgagor and on the assignment of rents and leases.

Next IDA Meeting
June 21, 2012 at 9:00 a.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT:                    Kunzwiler, Schick, Sorbello and Toth

Absent:                       Daniels, Ospelt and Rush

Also Present:          Kevin C. Caraccioli, David S. Dano, Robert J. Easterly 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 June 4, 2012 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Financial Statements for the period ended April 30, 2012, 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, 2012.

Delinquent Loan Report
No report.

Erie Boulevard Hydropower, LP (Orwell)
Following a discussion and an outline of the request to amend and extend the PILOT provided by Mr. Caraccioli and Mr. Easterly, on a motion by Mr. Schick, seconded by Mr. Sorbello, a waiver request by Hiscock & Barclay was granted relating to legal services for the project.

On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved authorizing a public hearing regarding the company’s request for an extension of the PILOT Agreement.  A copy of the Initial Resolution is attached and made an official part of the minutes.

On a motion by Mr. Schick, seconded by Mr. Sorbello, a resolution was approved approving an amendment to a certain PILOT Agreement and authorizing the execution and delivery of certain documents by the Agency in connection therewith.  A copy of the Resolution is attached and made an official part of the minutes.

LEEH, LLC
Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, the following three resolutions were approved:

Resolution approving undertaking the acquisition, construction and equipping of a certain project, appointing LEEH, LLC Agent of the Agency for the purposes of the acquisition, construction and equipping of the project, approving financial assistance in the form of real property tax, mortgage recording tax, sales and use tax exemptions, a loan from the Agency’s EDF in an amount not to exceed $325,000 and authorizing the execution and delivery of an agreement between the Agency and LEEH, LLC.  A copy of the Amended Inducement Resolution is attached and made an official part of the minutes.

Resolution 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 LEEH, LLC.  A copy of the Amended PILOT Resolution is attached and made an official part of the minutes.

Resolution approving authorizing the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of LEEH, LLC.  A copy of the Amended Final Approving Resolution is attached and made an official part of the minutes.

Circle T Motorsports, LLC
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved authorizing a public hearing.  A copy of the Initial Resolution is attached and made an official part of the minutes.

Executive Session
Vice Chair Toth reported that due to matters involving the history and financial information on individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 9:20 a.m.

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

Teti Bakery, Inc.
On a motion by Mr. Kunzwiler, 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 food 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.

BirdsEye Report
Mr. Treadwell reported that the Agency has been invoiced by Pinnacle Foods for costs per the Refrigeration Agreement.  The 607 Phillips Street Acquisition, LLC project continues to move forward.

United Wire Technologies, Inc./MDR Properties, LLC
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 United Wire Technologies, Inc./MDR Properties, 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. Kunzwiler, the financial assistance to acquire M&E ($280,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Mr. Treadwell reported that the company may pursue a S/L Transaction regarding the new building and expansion project.

Great Lakes Veneer
A discussion was held on the distribution of the auction proceeds.  On a motion by Mr. Sorbello, seconded by Mr. Schick, authorization was approved to negotiate a lease and sublease with a potential user for the property on acceptable terms to all parties.  Counsel was also authorized to pursue other legal means regarding the outstanding debt.

Design Concepts and Enterprises, LLC
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, the proposed collateral modification request was approved.

USDA IRP Program
Mr. Treadwell reported that the City of Oswego CDO has also applied for an IRP Program and it has been determined that there was no need for the Agency’s IRP to exclude the City.  Mr. Treadwell made some recommended changes to the IRP Program in order to enhance use of the program.  On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, authorization was approved to formally request a modification in the Scope of Work to:  (1) change the term for M&E from 5-7 years to 5-10 years, and (2) change the interest range for all loans from 5-8% to 3-6%.

OOC Bridge Loan/Berger Commission
Mr. Treadwell reported that two bridge loans made to upfront anticipated grants from the NYS DOH are in jeopardy of not being funded by the State.

Next IDA Meeting
July 13, 2012 at 1:00 p.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
July 13, 2012
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, and L. Michael Treadwell

Vice Chair Toth called the meeting to order at 1:00 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 June 21, 2012 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 28, 2012.

Delinquent Loan Report
No report.

Executive Session
Chair Rush reported that due to matters involving the history and financial information on individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 1:15 p.m.

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the Executive Session ended at 1:55 p.m.

Teti Bakery USA, Inc.
On a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved authorizing the undertaking of the acquisition, construction, renovation and equipping of a certain project, appointing the Company Agent of the Agency for the purpose of the acquisition, construction, renovation and equipping of the project, approving financial assistance in the form of real property tax, mortgage recording tax, sales and use tax exemptions, a loan from the Agency’s Economic Development Fund in an amount not to exceed $400,000 and authorizating 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.

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

Following a discussion and review of the financing application, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, the financial assistance for building acquisition and renovations ($400,000) was approved. 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. Schick, 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.

Birds Eye Plant
Mr. Treadwell reported that the 607 Phillips Street Acquisition, LLC project remains very active.

On a motion by Mr. Kunzwiler, seconded by Mr. Schick, the documentation provided by Pinnacle regarding the refrigeration agreement was approved to authorize the disbursement.

BioSpherix, Ltd.
A discussion was held on the Company’s interest in the APW school building in Parish.

CL Fitness, LLC
Following a discussion and review of the financing application, on a motion by Mr. Toth, 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 CL Fitness, 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. Kunzwiler, seconded by Mr. Sorbello, the financial assistance for renovations and M&E ($25,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Glenn Donnelly Partners, LLC/CNY Raceway Park
A discussion was held on the status of the project.  Mr. Treadwell reported that they are submitting a CFA application for REDC Round 2.  Mr. Ospelt reported that the I-81 exit is very important for the project.

Healthway Home Products, Inc.
Mr. Treadwell reported that an expansion may be an IRP funding project.

Conflict of Interest Policy
Mr. Caraccioli reviewed the Conflict of Interest Policy.  On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, the Conflict of Interest Policy was re-affirmed.  A copy of the Conflict of Interest Policy is attached and made an official part of the minutes.

The Annual Affirmation Statement was distributed and was signed by those in attendance.

Procurement Policy
Mr. Caraccioli reviewed some recommended changes in the Procurement Policy.  On a motion by Mr. Toth, seconded by Mr. Schick, the Procurement Policy as amended was re-affirmed.  A copy of the Procurement Policy is attached and made an official part of the minutes.

Investment Policy Compliance Report
Mr. Treadwell reported that the Agency was in compliance with the collateral requirements for FY ended July 31, 2011.

Consolidated Funding Application (Round 2)
Following a discussion on the Agri-Business EDF application, on a motion by Mr. Schick, seconded by Mr. Toth, the following program modifications were approved:  (1) first two years of loan would require only 3% interest and (2) P&I (3%) would begin in year 3 for the balance of the term 3 to 10 years depending on the type of project assisted.

Next IDA Meeting
August 10, 2012 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the meeting was adjourned at 2:45 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT:               Daniels, Rush, Sorbello and Toth

Absent:                 Kunzwiler, Ospelt and Schick

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

Chair Rush called the meeting to order at 8:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Daniels, seconded by Mr. Toth, the minutes of the July 13, 2012 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Toth, the Financial Statements for the period ended May 31, 2012 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 1, 2012.

Executive Session
Chair Rush reported that due to matters involving the history and financial information on individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Sorbello, seconded by Mr. Toth, it was approved to go into Executive Session at 8:10 a.m.

On a motion by Mr. Sorbello, seconded by Mr. Daniels, the Executive Session ended at 8:45 a.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended July 31, 2012.  On a motion by Mr. Daniels, seconded by M. Sorbello, authorization was approved to commence with legal action against EVM and Lindsey Aggregates if the refinancing in process does not occur.

Sure-Lock Industries
Mr. Dano reported that Rowlee Construction has completed the work to repair the building associated with automobile damage.

2012 Private Activity Bonds
A review of the ESDC notification was conducted.  Attached and made an official part of the minutes is the Notification of Initial Allocation.

Code of Ethics Policy
Mr. Caraccioli reviewed the Code of Ethics Policy.  On a motion by Mr. Sorbello, seconded by Mr. Daniels, the Code of Ethics Policy was adopted.  A copy of the Code of Ethics Policy is attached and made an official part of the minutes.

Executive Session
Chair Rush reported that due to matters involving the history and financial information on individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Toth, seconded by Mr. Sorbello, it was approved to go into Executive Session at 8:58 a.m.

On a motion by Mr. Sorbello, seconded by Mr. Toth, the Executive Session ended at 9:35 a.m.

BirdsEye Report
Mr. Treadwell reported that the 607 Phillips Street Acquisition, LLC was granted additional time to line up bank financing.

United Wire Technologies/MDR Properties, LLC
Following a discussion and review of the application, on a motion by Mr. Toth, seconded by Mr. Daniels, a resolution was approved determining that the acquisition, construction, renovation and equipping of a commercial facility at the request of the company for use as a wire 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.

McIntosh Box and Pallet Co., Inc.
Following a discussion and review of the financing application, on a motion by Mr. Daniels, seconded by Mr. Sorbello, 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 McIntosh Box and Pallet Co., Inc Project will not have 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 M&E and Working Capital ($99,500) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

OCIP/Available Building
Following a discussion, on a motion by Mr. Daniels, seconded by Mr. Toth, a resolution was approved authorizing the CEO or his designee to participate in an auction for property located at 15 County Route 59 in the OCIP subject to an established big-up price as discussed during the Executive Session.

Sabona’s Cafe
As discussed in the Executive Session, on a motion by Mr. Toth, seconded by Mr. Daniels, a counter-offer to the proposed settlement proposal was authorized.

WiseBuys
As discussed in the Executive Session, on a motion by Mr. Sorbello, seconded by Mr. Toth, the proposed settlement proposal dated July 13, 2012 was approved conditioned upon a signed confession of judgment.

CFA Application/Ag Business EDF
Mr. Treadwell reported that the IDA’s application received maximum scoring from the CNY REDC as did the application from the Port of Oswego.

Next IDA Meeting
August 29, 2012 at 4:00 p.m. was scheduled

ADJOURNMENT

On a motion by Mr. Sorbello, seconded by Mr. Toth, the meeting was adjourned at 9:58 a.m.

Respectfully Submitted,

L. Michael Treadwell
CEO

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
August 29, 2012
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

Chair Rush called the meeting to order at 4:00 p.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. Kunzwiler, the minutes of the August 16, 2012 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Toth, the Financial Statements for the period ended June 30, 2012 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 21, 2012.

Delinquent Loan Report
No report.

McIntosh Box & Pallet Co., Inc.
Following a discussion and review of the application, on a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, a resolution was approved determining that the acquisition, construction, reconstruction, renovation and equipping of a commercial facility at the request of the company for use as a pallet and skid manufacturing and recycling 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.

BirdsEye  Report
Mr. Treadwell reported that a bank is considering participating in a banking relationship regarding the 607 Phillips Street Acquisition, LLC project.

United Wire Technologies/MDR Properties, LLC
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Sorbello, a resolution was approved authorizing undertaking the acquisition, construction, renovation and equipping of a certain project for use as a manufacturing facility; appointing the company agent of the Agency for the purpose of the acquisition, construction, renovation and equipping of the project; approving financial assistance in the form of real property tax, mortgage recording tax, sales and use tax exemptions and a loan from the Agency’s Economic Development Fund in an amount not to exceed $280,000; 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.

Following a discussion, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, 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.

Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Schick, 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.

OCIP/Available Building
Mr. Treadwell reported that there were two businesses bidding on the building, therefore, no bids were placed by the Agency.  The building was purchased by George Gratton’s Mobility for The Handicap, Inc.

BioSpherix, Ltd.
Following a discussion and review of the application, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a resolution was approved determining that the acquisition, construction, renovation 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.

Sure-Lock Industries, LLC
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, authorization was approved for Landlord Consent to a Storage & Processing Agreement – Reman between Sure-Lock Industries, LLC and Bridgewell Resources, LLC.

FOIL Reporting Policy
A discussion was held on reviewing the current policy as it relates to FOIL responses using an electronic format, to be placed on the Agency’s agenda for the next meeting.

Next IDA Meeting
September 17, 2012 at 9:00 a.m. was scheduled

ADJOURNMENT

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the meeting was adjourned at 5:40 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
September 17, 2012
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 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 August 29, 2012 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 September 5, 2012.

V-Squared Management, LLC/Healthway Home Products, Inc.
Following a discussion and review of the application, on a motion by Mr. Ospelt, seconded by Mr. Toth, a resolution was approved determining that the acquisition, construction and equipping of a commercial facility at the request of the company for use as an air purification systems 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.

Fulton Group N.A., Inc.
Following a discussion regarding the request from the company to executive agreements required by the bank to allow for an increase in the company’s working capital line of credit, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, authorization was approved for the CEO to sign the Amendment to No. 2 to the General Security Agreement and the Joinder Agreement.

Sure-Lock Industries
Mr. Treadwell reported on the fire incident that occurred on August 30, 2012 and on the issue of the internal yard hydrant.  All matters were resolved.

Sabona’s Café
Mr. Caraccioli reported that the settlement was finalized.

FOIL Policy
Following a review, on a motion by Mr. Kunzwiler, seconded by Mr. Toth, a resolution was approved establishing the procedure for responding to FOIL requests.  A copy of the FOIL Resolution is attached and made an official part of the minutes.

Crofoot’s Car Care
Following a review of the request for a loan deferment, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a 5-month deferment was approved for the period October 2012 – February 2013.

PARIS Reporting
Mr. Treadwell reported that the audit for FY ended July 31, 2012 had started.

Executive Session
Chair Rush reported that due to matters involving the history and financial information on individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, it was approved to go into Executive Session at 9:45 a.m.

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

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended August 31, 2012.  On a motion by Mr. Toth, seconded by Mr. Kunzwiler, authorization was approved to establish an escrow account and call the loan regarding St. Peter’s Outfitter.

McIntosh Box and Pallet Co., Inc.
Following a discussion and review of the financing application, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, 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 McIntosh Box and Pallet Co.   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 machinery and equipment ($200,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Next IDA Meeting
September 28, 2012 at 9:00 a.m. was scheduled

ADJOURNMENT

On a motion by Mr. Ospelt, seconded by Mr. Schick, the meeting was adjourned at 10:35 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT:                   Ospelt, Rush, Schick, Sorbello and Toth

Absent:                       Daniels and Kunzwiler

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. Ospelt, seconded by Mr. Sorbello, the minutes of the September 17, 2012 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 September 19, 2012.

DELINQUENT REPORT
No Report

NYS EDC – 2012 Technology Based Economic Development Conference (Syracuse, NY)
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Sorbello, it was approved to co-sponsor the event at the $1,000 level.

Investment Policy Compliance Report
Mr. Treadwell reported that the Agency was in compliance with the collateral requirements for FY ended July 31, 2012.

McIntosh Box & Pallet Co., Inc.
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Sorbello, a resolution was approved authorizing undertaking the acquisition, construction, reconstruction, renovation and equipping of a certain project, appointing the company as agent of the Agency for the purpose of the acquisition, construction, reconstruction, renovation and equipping of the project, approving financial assistance in the form of real property tax, mortgage recording tax and sales and use tax exemptions, a loan from the Agency’s EDF in an amount not to exceed $200,000 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.

Following a discussion, on a motion by Mr. Toth, 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.

Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, 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.

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

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the Executive Session ended at 9:45 a.m.

BirdsEye/607 Phillips Street Acquisition, LLC
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, authorization was approved to prepare and distribute the UTEP deviation letter to all involved taxing authorities and to coordinate the scheduling of a public hearing.  Mr. Schick voted nay.

St. Peter’s Outfitter
On a motion by Mr. Toth, seconded by Mr. Schick, it was approved to accept a payment from the Port of Oswego due to St. Peter’s Outfitter and apply that to the outstanding principal of the Agency’s loan.  It was also agreed to defer principal and interest payments until January 1, 2013 and authorizing counsel to notify all loan guarantors.

The Historic Woodruff Block, LLC
On a motion by Mr. Toth, seconded by Mr. Sorbello, it was approved to restructure the Agency’s  loan, to extend the outstanding balance to 20 years at 2.5% with interest only for one year.  The restructuring was subject to the Agency entering into an Intercreditor Agreement with Pathfinder Bank.

Lindsey Aggregates/EVM
Status of refinancing reviewed.

Great Lakes Veneer
Request for release of a guarantor was reviewed.

PAL Training
Mr. Treadwell reviewed the notice from the NYS ABO on the need for training.

Teti Bakery USA
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, approval was authorized to modify the mortgage position for the IDA loan to a 3rd mortgage.

Next IDA Meeting
October 31, 2012 at 8:30 a.m. was scheduled

ADJOURNMENT

On a motion by Mr. Sorbello, seconded by Mr. Schick, the meeting was adjourned at 10:40 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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

Absent:                Daniels

Also Present:          Roger Beer, Kevin C. Caraccioli, Tanya Hilbert, L. Michael Treadwell and Laura Wills

Chair Rush called the meeting to order at 1:00 p.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
None

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 October 13, 2012.

Audit Report for FY Ended 7/31/12
Mr. Beer, Ms. Wills and Ms. Hilbert of Grossman St. Amour, Certified Public Accountants, PLLC presented the Summary of the 2012 Audit Report and Findings.  A Draft of the Financial Statements of  the County of Oswego IDA was reviewed.  Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the Audit Report was approved.

Executive Session
Chair Rush reported that due to matters involving the history and financial information on individuals and on businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 1:45 p.m.

On a motion by Mr. Ospelt, seconded by Mr. Toth, the Executive Session ended at 2:10 p.m.

The Historic Woodruff Block, LLC
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, it was approved to modify the financing restructuring by providing a 20 year amortization at 2.5% with interest only for one year with a balloon after 10 years.  The additional collateral on a house with deed in lieu of foreclosure was also accepted and the requirement for an Intercreditor Agreement was canceled.

BirdsEye/607 Phillips Street Acquisition, LLC
Mr. Treadwell reported that the public hearing is scheduled for October 30, 2012 at 9:00 a.m. at the Fulton Municipal Building.  He also reported that the purchase offer had been signed.

Tavern on the Lock
On a motion by Mr. Toth, seconded by Mr. Kunzwiler, it was approved to release the Agency’s lien on property located at 1-3 Austin Avenue in Fulton.  The release was conditioned upon the loan being current.

Next IDA Meeting
October 31, 2012 at 8:30 a.m. has been scheduled

ADJOURNMENT

On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the meeting was adjourned at 2:20 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
October 31, 2012
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 8:30 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion made by Mr. Kunzwiler, seconded by Mr. Toth, the minutes of the September 28, 2012 and October 22, 2012 meetings were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Schick, the Financial Statements for the period ended August 31, 2012 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 13, 2012.

607 Phillips Street Acquisition, LLC
Following a discussion and a review of a letter regarding the Deviation from the UTEP from the Fulton City School District, on a motion by Mr. Toth, seconded by Mr. Sorbello, a resolution was approved authorizing undertaking the acquisition, renovation and equipping of a certain project; appointing the Company 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 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.

Following a discussion, on a motion by Mr. Kunzwiler, 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.

Following a discussion, on a motion by Mr. Toth, seconded by Mr. Sorbello, 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.

86 State Street Phoenix, LLC
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, renovation and equipping of a commercial facility at the request of the Company for mixed-use 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.

Champlain Valley Specialty of NY, Inc.
Following a discussion and review of the application, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a resolution was approved determining that the acquisition, reconstruction, renovation and equipping of a commercial facility at the request of the Company primarily for use as a light 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.

V-Squared Management, LLC/Healthway Home Products, Inc.
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved classifying the acquisition, construction and equipping of a certain project as an unlisted action pursuant to the SEQRA and determining that the project will not have a significant effect on the environment.  A copy of the SEQRA Resolution is attached and made an official part of the minutes.

Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, a resolution was approved authorizing undertaking the acquisition, construction and equipping of a certain project for use as an air purification systems manufacturing facility; appointing the Company Agent of the Agency for the purposes of the acquisition, construction and equipping of the project; approving financial assistance in the form of real property tax, mortgage recording tax and sales and use tax exemptions; 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.

Following a discussion, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, 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.

Following a discussion, on a motion by Mr. Schick, seconded by Mr. Sorbello, 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.

Governance Committee
A meeting of the Governance Committee was scheduled for November 20, 2012 at 2:00 p.m. to review the Board of Directors Evaluations and to conduct the Annual Review of the CEO.

Cayuga Community College Foundation
A discussion was held on the Recognition Opportunity for the Fulton Campus.  A legal review was requested and the establishment of guidelines for contributions was suggested.  It was determined that this would be referred to the Governance Committee for further review.

Glenn Donnelly Partners, LLC/CNY Raceway Park
Mr. Caraccioli reported that the Emmons property was acquired.

Executive Session
Chair Rush reported that due to matters involving the history and financial information on individuals and businesses which, if disclosed, would cause substantial injury to the competitive position of the businesses, on a motion by Mr. Kunzwiler, seconded by Mr. Toth, it was approved to go into Executive Session at 9:40 a.m.

On a motion by Mr. Schick, seconded by Mr. Toth, the Executive Session ended at 10:20 a.m.

Great Lakes Veneer
On a motion by Mr. Schick, seconded by Mr. Sorbello, authorization was approved to continue to pursue legal action and rejecting the guarantor release request from Gary A. Canfield.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended October 31, 2012.

Next IDA Meeting
November 20, 2012 at 2:30 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the meeting was adjourned at 10:25 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
November 20, 2012
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT:                    Daniels, Kunzwiler, Rush, Schick and Sorbello

Absent:                       Ospelt and Toth

Also Present:          Kevin C. Caraccioli and L. Michael Treadwell

Chair Rush called the meeting to order at 2:30 p.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion made by Mr. Kunzwiler, seconded by Mr. Sorbello, the minutes of the October 31, 2012 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 November 15, 2012.

Champlain Valley Specialty of NY, Inc.
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved classifying a certain project as unlisted action pursuant to the State Environmental Quality Review Act and determining that the project will not have a significant effect on the environment.  A copy of the SEQRA Resolution is attached and made an official part of the minutes.

Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved authorizing undertaking 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.

Following a discussion, on a motion by Mr. Schick, seconded by Mr. Daniels, a resolution was approved 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.  A copy of the PILOT Resolution is attached and made an official part of the minutes.

Following a discussion, on a motion by Mr. Sorbello, 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.

86 State St Phoenix, LLC
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved authorizing 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, approving financial assistance in the form of real property tax, mortgage recording tax and sales and use tax exemptions 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.

Following a discussion, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a resolution was approved 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.  A copy of the PILOT Resolution is attached and made an official part of the minutes.

Following a discussion, on a motion by Mr. Daniels, seconded by Mr. Sorbello, 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.

ONX2, LLC
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a Waiver of Conflict of Interest resolution was approved.  A copy of the Resolution is attached and made an official part of the minutes.

Governance Committee
Report on Evaluation of Board Performance and Annual Reviews of CEO and CFO were deferred to the next IDA meeting.

Delinquent Loan Report
Mr. Caraccioli reported that a payment was received for Lenway and that the initial $15,000 payment from Sabona’s has been received.

Key Bank Account
Mr. Treadwell reported that a new account is necessary in order for the EPA Grant for the Port of Oswego project that will be administered by the IDA as the applicant.  On a motion by Mr. Sorbello, seconded by Mr. Schick, authorization was approved to establish the account.  Mr. Daniels recused.

MDR Properties, LLC/United Wire Technologies, Inc.
Following a discussion on matters relating to some additional equipment for the expansion project, on a motion by Mr. Daniels, seconded by Mr. Schick, the additional financial assistance for equipment ($210,000) was approved.  A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Next IDA Meeting
December 18, 2012 at 2:30 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the meeting was adjourned at 3:20 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
December 18, 2012
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT:                       Daniels, Kunzwiler, Rush, Sorbello and Toth

Absent/Excused:        Ospelt and Schick

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

Chair Rush called the meeting to order at 2:50 p.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion made by Mr. Kunzwiler, seconded by Mr. Sorbello, the minutes of the November 20, 2012 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 December 4, 2012.

County of Oswego IDA Annual Report FY 8/1/11 – 7/31/12
Following a review, on a motion by Mr. Daniels, seconded by Mr. Toth, 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.

Padma Ram, M.D./Lake Ontario Property Associates, Inc.
Following a discussion and review of the application, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved determining that the acquisition, renovation and equipping of a commercial facility at the request of the company for use as commercial space 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.

G&S Broadwell, Inc.
Following a discussion regarding the Amended PILOT Agreement, counsel was authorized to respond to the October 16, 2012, letter from Ferrara, Fiorenza, Larrison, Barrett & Reitz, P.C. regarding the PILOT payments to the Oswego City School District.

Governance Committee
The Summary Report of the Annual Board of Directors Evaluation was reviewed and, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, authorization was approved to submit the report to the NYS ABO.

The Evaluation Reports for the CEO and CFO Performance were reported as outstanding.

Following a discussion and the recommendation of the Governance Committee, counsel was authorized to prepare a policy addressing the use of discretionary funds.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended November 30, 2012.

USDA IRP
Following a discussion, on a motion by Mr. Daniels, seconded by Mr. Kunzwiler, authorization was approved to use $60,000 from the General EDF to establish a 6% Loan Loss Reserve for the IRP EDF of $1,000,000.

Oswego County Opportunities, Inc.
Mr. Treadwell reported that OCO’s 10 George Street, Oswego, facility that was partially financed by the IDA is turning over its Primary Care Health practice to NOCHSI.  There will be no changes regarding OCO’s mortgage responsibilities.

Central New York Raceway Park
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Sorbello, the Town of Hastings’ request for concurrence for the Town to be the Lead Agency for SEQRA was approved.

Mr. Treadwell reported that an application for a loan was also received and is being reviewed.

Oswego YMCA
On a motion by Mr. Kunzwiler, seconded by Mr. Daniels, a debt restructuring to refinance the current balance for five years was approved.

607 Phillips Street Acquisition, LLC
An update on the project was provided by Mr. Treadwell and Mr. Caraccioli.  Tentative closing to acquire the property is last week in December.

Next IDA Meeting
January 15, 2013 at 2:00 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the meeting was adjourned at 3:55 p.m.

Respectfully Submitted,

L. Michael Treadwell
CEO