County of Oswego Industrial Development Agency

IDA Minutes:

2015

1/14/15
2/26/15
3/24/15
4/16/15
5/8/15
6/4/15
6/22/15
7/14/15
7/31/15
8/27/15
9/17/15
9/28/15
10/15/15
11/11/15
11/30/15

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
January 14, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Kunzwiler, Rush, Schick, Sorbello and Toth

Absent/Excused: Canale

Also Present: Kevin C. Caraccioli, David S. Dano, Andy Miller, L. Michael Treadwell, Daniel Ulloa and Bob Wilmott

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

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the minutes of the December 22, 2014 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 29, 2014.

ESDC Notification of Initial Allocation – 2015
Mr. Treadwell reported that the 2015 allocation was $4,038,429. Attached and made an official part of the minutes is a copy of the Notification of Initial Allocation dated January 5, 2015.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals, and pending legal and contractual matters, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 9:35 a.m.

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

Hardwood Transformations, Inc.
Following a discussion and review of the financing application, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved authorizing undertaking the leasing, reconstruction, renovation and equipping of a certain project, appointing the Company Agent of the Agency for the purpose of the lease, reconstruction, renovation and equipping of the project, approving financial assistance in the form of real property tax, state and local sales and use tax exemptions, and a loan, authorizing the execution and delivery of an agreement between the Agency and the Company. A copy of the Inducement Resolution is attached and made an official part of the minutes. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

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.

Designer Hardwood Flooring CNY, Inc.
Following a discussion and review of the financing applications, on a motion by Mr. Sorbello, seconded by Mr. Schick, a resolution was adopted classifying the project as a Type II 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 Designer Hardwood Flooring CNY, Inc. project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Toth, seconded by Mr. Kunzwiler, the financial assistance for renovations, M&E and working capital ($350,000) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, a resolution was approved authorizing undertaking the leasing, reconstruction, renovation and equipping of a certain project, appointing the Company Agent of the Agency for the purpose of the lease, reconstruction, renovation and equipping of the project, approving financial assistance in the form of real property tax, state and local sales and use tax exemptions and loans, 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 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.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended December 31, 2014.

Incubator Feasibility Study
Mr. Treadwell distributed a copy of the ESD letter dated December 18, 2014 awarding the $30,000 grant. A copy of the letter is attached and made an official part of the minutes.

Mahalaxmi Motels, LLC
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, it was approved to defer P&I payments for PILOT Loan No. 299 for 4 months (December 2014 – March 2015) with payment to resume April 1, 2015.

120 St. Paul Street
Mr. Treadwell reported that the Oswego County taxes for 2015 had been paid.

Authorities Budget Office
Mr. Treadwell distributed a copy of the ABO’s Policy Guidance issued on January 13, 2015 on “Restrictions on Grants and Loans Made by Public Authorities.”

Next IDA Meeting
February 12, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
February 26, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK?

PRESENT: Canale, Rush, Schick and Toth

Absent/Excused: Kunzwiler and Sorbello

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

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

APPROVAL OF MINUTES
On a motion by Mr. Canale, seconded by Mr. Toth, the minutes of the February 12, 2015 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Canale, the Financial Statements for the period ended December 31, 2014 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 14, 2015.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and confidential reporting to the NYS Comptroller’s Office, on a motion by Mr. Toth, seconded by Mr. Canale, it was approved to go into Executive Session at 2:10 p.m.

On a motion by Mr. Canale, seconded by Mr. Schick, the Executive Session ended at 3:07 p.m.

Universal Metal Works, LLC
Following a discussion and review of the financing application, on a motion by Mr. Toth, seconded by Mr. Canale, a resolution was approved classifying 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. Toth, seconded by Mr. Schick, a resolution was approved authorizing undertaking the acquisition, construction, reconstruction and equipping of a certain project, appointing the Company Agent of the Agency for the purpose of the acquisition, construction, reconstruction and equipping of the project; approving financial assistance in the form of exemptions from real property tax, state and local sales and use tax and mortgage recording tax and a loan from the Agency’s USDA IRP EDF in an amount not to exceed $100,000; 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. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

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

Following a discussion on the timing of the project, on a motion by Mr. Schick seconded by Mr. Canale, authorization was approved to enter into a Temporary Sales Tax Appointment Agreement.

Office of the State Comptroller
Following a review of a draft response to the Revolving Loan Program Audit, on a motion by Mr. Canale, seconded by Mr. Schick, authorization was approved to submit the response on or before February 27, 2015.

SolarCity – County Project
Following a review of the project being supported by the Oswego County Legislature, on a motion by Mr. Toth, seconded by Mr. Schick, the proposed structure of a PILOT would be a Deviation from the Agency’s UTEP.

Council of Development Finance Agencies
On a motion by Mr. Schick, seconded by Mr. Canale, it was approved to renew the Agency’s Annual Membership in CDFA.

COIDA Annual Report for FY Ended July 31, 2014
Mr. Treadwell distributed a press release regarding the presentation to the Oswego County Economic Development and Planning Committee.

Next IDA Meeting
March 24, 2015 at 3:00 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Canale, seconded by Mr. Schick, the meeting was adjourned at 3:18 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
March 24, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK?

PRESENT: Canale, Schick, Sorbello and Toth

Absent/Excused: Kunzwiler and Rush

Also Present: Kevin C. Caraccioli, David S. Dano, Bob Wilmott 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. Canale, the minutes of the February 26, 2015 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 March 10, 2015.

Executive Session
Vice Chair Toth and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals, potential contractual matters and confidential reporting to the NYS Comptroller’s Office, on a motion by Mr. Canale, seconded by Mr. Sorbello, it was approved to go into Executive Session at 3:35 p.m.

On a motion by Mr. Sorbello, seconded by Mr. Canale, the Executive Session ended at 5:12 p.m.

Office of the State Comptroller
The COIDA’s response to the Revolving Loan Program Audit was filed on February 27, 2015.

SolarCity Corporation – Scriba Project
Following a discussion and review of the application, on a motion by Mr. Canale, seconded by Mr. Schick, a resolution was approved determining that the acquisition, installation and equipping of a commercial facility at the request of the Company 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.

Mr. Treadwell also reported that the PILOT request would be a deviation from the Agency’s UTEP since the Company is looking for a 20-year PILOT for a non-manufacturing project and that the first 15 years would mirror the exemption provided by New York State Real Property Tax Law Section 487.

SolarCity Corporation – Fulton/Volney Project
Following a discussion and review of the application, on a motion by Mr. Schick, seconded by Mr. Canale, a resolution was approved determining that the acquisition, installation and equipping of a commercial facility at the request of the Company 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.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended February 28, 2015.

Upstate Revitalization Fund
Mr. Treadwell reported that a consultant would be retained to assist in developing a strategic approach to competing for the $500 million URF competition between seven upstate Regional Economic Development Councils. Economic development organizations will be sponsoring and providing the funding for these professional services. A RFP has been issued. Following a discussion, on a motion by Mr. Canale, seconded by Mr. Schick, authorization was approved to participate in supporting this effort at a level not to exceed $25,000 to be funded from the General EDF subject to the URF funding being included in the State’s budget.

Lake Ontario Property Associates/Dr. Padma Ram
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Sorbello, the company’s request for a 120-day extension on payment of its 2015 PILOT payment was approved.

HUD CDBG
On a motion by Mr. Schick, seconded by Mr. Sorbello, authorization was approved to return interest for 2014 in the amount of $275.94.

COIDA Annual Report FY Ended 7/31/14
Mr. Treadwell distributed copies of articles appearing in The Valley News on March 11, 2015 and in The Palladium Times on March 12, 2015 on the successful year in COIDA activity. Copies of the articles are attached and made an official part of the minutes.

Mr. Treadwell reported that the PARIS report had been completed and follow-up questions from the NYS OSC were answered regarding statistics on specific projects. The report was ready for viewing on February 12, 2015.

Governor’s IDA Proposals
A discussion was held on potential additional restrictions involving the ability of IDAs to grant exemptions of State sales and use taxes, state mortgage recording tax and potential requirements of State approvals for local IDA assisted projects that were included in Part W of the Revenue Bill. Part W was rejected by the Senate and Assembly.

Next IDA Meeting
April 16, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Canale, seconded by Mr. Schick, the meeting was adjourned at 5:25 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
April 16, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

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

Absent/Excused: None

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

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

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the minutes of the March 24, 2015 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Sorbello, the Financial Statements for the period ended January 31, 2015 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 1, 2015.

Executive Session
Vice Chair Toth and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals, potential contractual matters and confidential reporting to the NYS Comptroller’s Office, on a motion by Mr. Sorbello, seconded by Mr. Canale, it was approved to go into Executive Session at 9:14 a.m.

On a motion by Mr. Sorbello, seconded by Mr. Canale, the Executive Session ended at 10:22 a.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended March 31, 2015.

Port City Logistics, LLC
Following a discussion and review of the application, on a motion by Mr. Canale, 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 constitutes a project; describing the financial assistance requested in connection therewith and authorizing a public hearing.

Office of the State Comptroller
Mr. Caraccioli reported that the Revolving Loan Program audit has not been released and that the IDA would receive a copy of the release in the morning in advance of the release.

Incubator (Price Chopper Building) Project
Following a discussion on potential opportunities for funding the project, on a motion by Mr. Canale, seconded by Mr. Schick, authorization was approved to prepare and submit an application to the CNY REDC CFA Round 5 for the maximum amount of eligible funds; on a motion by Ms. Rush, seconded by Mr. Kunzwiler, authorization was approved to prepare and submit the project to the CNY REDC for URI funding consideration.

Following a review of a proposal from C&S Companies to provide professional services to conduct a Condition Assessment and Evaluation of the Price Chopper Building and Site and to develop a Conceptual Design of the Price Chopper for purposes of establishing a small business incubator facility, on a motion by Mr. Schick, seconded by Mr. Sorbello, authorization was approved to enter into a contract in the amount of $25,000.

Following a review of a proposal from Vantage Point to provide professional services to conduct a Feasibility Study for developing the Price Chopper Building into a small business incubator facility, on a motion by Mr. Kunzwiler, seconded by Mr. Canale, authorization was approved to enter into a contract in the amount of $37,500.

Mr. Treadwell reported that grant funding in the amount of $30,000 from ESDC via the CFA Round 4 program and $25,000 from the Oswego County Legislature for the project have been secured for the incubator project.

Fred Raynor Ford, Lincoln, Mercury Corp.
Following a discussion on the cancelation by the Company on doing the project due to the sale of the Company to Davidson Ford of Watertown and their plans to relocate the business to Route 31 in Onondaga County, on a motion by Mr. Canale, seconded by Mr. Schick, the PILOT EDF loan approved on September 17, 2013, was canceled.

Central New York Raceway Park
Mr. Treadwell reported that revisions have been made to the application to include the issuance of $25 million in taxable bonds and the value of the estimated sales tax exemption to $1,592,645.

On a motion by Mr. Schick, seconded by Mr. Canale, the revisions to the application were recognized and approved.

Goals of the Agency
Following a review of the current Goals of the Agency, which included the changes approved in 2014, on a motion by Ms. Rush, seconded by Mr. Schick, it was approved not to make any changes in the Goals at this time and that the Goals will be reviewed in 2016.

Governor’s IDA Proposals
Mr. Treadwell reported that Part W of the Budget Bill was omitted when the Budget Bill was approved.

Property Taxes – 120 St. Paul St.
Mr. Treadwell reported all of the taxes due to the County, City of Oswego and Oswego CSD had been paid.

SolarCity Corporation
Following a discussion on the proposed PILOT Agreement, on a motion by Mr. Kunzwiler, seconded by Ms. Rush, the CEO was authorized to discuss the amended proposal with the County before finalizing concurrence with SolarCity which has to be done before scheduling a public hearing and notifications to taxing authorities due to the deviation.

Next IDA Meeting
May 8, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
May 8, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK?

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

Absent/Excused: None

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. Sorbello, seconded by Mr. Toth, the minutes of the April 16, 2015 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 28, 2015.

Delinquent Loan Report
No report.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and potential contractual matters, on a motion by Mr. Canale, seconded by Mr. Sorbello, it was approved to go into Executive Session at 9:14 a.m.

On a motion by Mr. Toth, seconded by Mr. Sorbello, the Executive Session ended at 10:13 a.m.

Port City Logistics, LLC
Mr. Treadwell reported that an error was discovered relative to the address of the project, therefore the Initial Resolution and the scheduling of a public hearing must be redone. On a motion by Mr. Schick, seconded by Mr. Toth, a resolution was approved determining that the acquisition, reconstruction, renovation and equipping of a commercial facility at the request of the Company 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.

Office of The State Comptroller
An update on the media coverage of the release of the Revolving Loan Program audit was provided.

SolarCity Corporation/Volney Project
Following a discussion and review of the financing application, on a motion by Mr. Toth, seconded by Mr. Sorbello, a resolution was approved classifying 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. Schick, seconded by Mr. Canale, a resolution was approved authorizing undertaking the acquisition, construction, installation and equipping of a certain project, appointing the Company Agent of the Agency for the purpose of the acquisition, construction, installation and equipping of the project; approving financial assistance in the form of exemptions from real property tax, state and local sales and use tax and mortgage recording tax; and authorizing the execution and delivery of an agreement between the Agency and the Company. A copy of the Inducement Resolution is attached and made an official part of the minutes. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

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

SolarCity Corporation/Scriba Project
Following a discussion and review of the financing application, on a motion by Mr. Sorbello, seconded by Mr. Canale, a resolution was approved classifying 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. Schick, seconded by Mr. Kunzwiler, a resolution was approved authorizing undertaking the acquisition, construction, installation and equipping of a certain project, appointing the Company Agent of the Agency for the purpose of the acquisition, construction, installation and equipping of the project; approving financial assistance in the form of exemptions from real property tax, state and local sales and use tax and mortgage recording tax; and authorizing the execution and delivery of an agreement between the Agency and the Company. A copy of the Inducement Resolution is attached and made an official part of the minutes. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

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

City of Oswego
After a review of a request to deviate from the notification requirements of the GML for PILOT Agreements and UTEP Deviations, it was the consensus of the Board that the Agency will continue to comply with the GML.

Housing Visions
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Toth, the CEO was authorized to acknowledge and approve a conflict waiver regarding Hiscock & Barclay representing Housing Visions on a challenge under RPTL 581-a on an assessment matter on a project in Auburn, NY.

Hannibal Village Market, Inc.
Mr. Treadwell distributed an appreciation letter dated March 26, 2015 to the COIDA. A copy of the letter is attached and made an official part of the minutes.

Disposition of Property Guidelines
Following a review and discussion on the current Disposition of Property Guidelines, on a motion by Mr. Schick, seconded by Mr. Canale, the County of Oswego IDA’s 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. The Guidelines will be posted on the Agency’s website.

Conflict of Interest Policy
The Conflict of Interest Policy was reviewed. On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, 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 signed by those in attendance.

Budget Reports – Revenues and Expenses
Following a review, on a motion by Mr. Canale, seconded by Mr. Toth, the following budgets were approved and authorized to be submitted to the State and posted on the website:

Actual (8/1/13 – 7/31/14)
Estimated (8/1/14 – 7/31/15)
Projected (8/1/15 – 7/31/16)

A copy of the Budget Reports are attached and made an official part of the minutes.

Excelon
Discussion held relative to an ongoing tax settlement matter.

Next IDA Meeting
June 4, 2015 at 1:00 p.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the meeting was adjourned at 10:55 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
June 4, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Canale, Rush, Schick, Sorbello and Toth

Absent/Excused: Kunzwiler

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

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
On a motion by Mr. Canale, seconded by Mr. Sorbello, the minutes of the May 8, 2015 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Canale, the Financial Statements for the period ended February 28, 2015 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 21, 2015.

On a motion by Mr. Sorbello, seconded by Mr. Canale, the Executive Session ended at 2:38 p.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended May 31, 2015.

On a motion by Mr. Schick, seconded by Mr. Sorbello, authorization was approved for legal action regarding delinquent loan payments by Oswego County Podiatry and Tavern on the Lock.

On a motion by Mr. Canale, seconded by Mr. Sorbello, restructuring of the debt service payment regarding WiseBuys for a period of 1 year with subsequent annual reviews was approved pending the receipt of a $2,500 payment on or before June 8, 2015.

Port City Logistics, LLC
Following a discussion and review of the financing application and the Cost/Benefit Analysis, on a motion by Mr. Canale, seconded by Mr. Schick, a resolution was approved authorizing undertaking the acquisition, reconstruction, renovation and equipping of a certain project, appointing the Company 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, state and local sales and use tax and mortgage recording tax; and authorizing the execution and delivery of an agreement between the Agency and the Company. A copy of the Inducement Resolution is attached and made an official part of the minutes. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

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.

Revolving Loan Program
Reviewed steps being taken to respond to the OSC CAP.

Dollar General
Mr. Caraccioli reported that the Minetto Town Planning Board reviewed the proposed site plan and were supportive at its June 2, 2015 meeting. Process still requires a new survey and the subdivision for the 1.21 acre site. On June 23, 2015, the application for the subdivision and final site plan will be submitted for action to the Town Planning Board. The Zaremba Group has elected to extend the Review Period for an additional 4 months, the current period expires on June 9, 2015. An additional $1,000 for the Second Deposit has been placed with the Escrow Agent. It is anticipated that closure on the acquisition will occur shortly after the June 23, 2015 Planning Board Meeting.

Sunoco, Inc.
Following a review of the application and a discussion on several potential initiatives, on a motion by Mr. Toth, seconded by Mr. Schick, a resolution was approved determining that the acquisition, reconstruction, renovation and equipping of a commercial facility at the request of the Company 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.

Upstate Revitalization Initiative
Mr. Treadwell reported that IDAs in the CNY region have been asked to help support retaining outside consulting expertise to assist in developing critical information and data that will be used in competing for the $500 million URI regional competition (7 upstate regions competing for 3 awards of $500 million).

Following a discussion, on a motion by Mr. Canale, seconded by Mr. Schick, it was approved to provide $25,000 for sponsorship for consulting services and other direct associated costs necessary to prepare the CNY REDC strategic plan for the URI competition. The General EDF would be the source of funding.

Barclay Damon, LLP
Mr. Treadwell reported that Hiscock & Barclay is now Barclay Damon, LLP after a merger with the Buffalo law firm.

Next IDA Meeting
June 22, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Canale, seconded by Mr. Toth, the meeting was adjourned at 2:55 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
June 22, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK
?
PRESENT: Canale, Kunzwiler, Rush, Schick, Sorbello and Toth

Absent/Excused: None

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 June 4, 2015 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Schick, the Financial Statements for the period ended March 31, 2015 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 10, 2015.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and potential contractual matters, on a motion by Mr. Toth, seconded by Mr. Sorbello, it was approved to go into Executive Session at 9:15 a.m.

On a motion by Mr. Sorbello, seconded by Mr. Canale, the Executive Session ended at 10:47 a.m.

Sunoco, Inc.
Following a discussion and review of the Financing Application and the Cost/Benefit Analysis, on a motion by Mr. Toth, seconded by Mr. Schick, a resolution was approved classifying a certain project as an Unlisted Action pursuant to 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 y Mr. Canale, seconded by Mr. Kunzwiler, a resolution was approved authorizing undertaking the acquisition, construction, reconstruction, renovation and equipping of a certain project, appointing the Company 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 exemptions from real property tax, state and local sales and use tax and mortgage recording tax, if any; and authorizing the execution and delivery of an agreement between the Agency and the Company. A copy of the Inducement Resolution is attached and made an official part of the minutes. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Following a discussion on the time sensitive nature of the project, on a motion by Mr. Sorbello, seconded by Mr. Canale, authorization was approved to enter into a Temporary Sales Tax Appointment Agreement.

Dollar General – Minetto
Mr. Caraccioli reported that on June 23, 2015, the Town Planning Board is scheduled to meet to vote on the subdivision and site plan for the project.

Revolving Loan Program
Following a discussion and review of a proposed resolution that would be presented to the Oswego County Economic Development and Planning Committee at its June 22, 2015 meeting, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, it was approved to recommend that the resolution would constitute an amendment and modification to the 1994 resolution.

Oswego Price Chopper/Incubator Project
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, it was approved to commit up to $500,000 from the PILOT EDF to be targeted for financial assistance for companies that establish operations in the new incubator. Authorization was granted to use this financial commitment as a component for the Agency’s Round 5 CFA application.

SolarCity Corporation
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, authorization was approved to enter into a lease between the County of Oswego and the IDA whereby the IDA can sublease to SolarCity that is necessary to allow the conveyance of Agency’s benefits to the Company.

Next IDA Meeting
July 14, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Toth, seconded by Mr. Canale, the meeting was adjourned at 10:55 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
July 14, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK
?
PRESENT: Canale, Rush, Schick, Sorbello and Toth

Absent/Excused: 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. Sorbello, , seconded by Mr. Toth, the minutes of the June 22, 2015 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Sorbello, the Financial Statements for the period ended April 30, 2015 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 30, 2015.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and potential contractual matters, on a motion by Mr. Toth, seconded by Mr. Canale, it was approved to go into Executive Session at 9:17 a.m.

On a motion by Mr. Canale, seconded by Mr. Sorbello, the Executive Session ended at 11:14 a.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ending June 30, 2015.

Revolving Loan Program
Following a discussion and a review of the proposed Corrective Action Plan associated with the OSC Audit Report of Examination: 2014M-356, on a motion by Mr. Canale, seconded by Mr. Schick, the CAP was approved and authorized to be submitted to the NYS Comptroller’s Office. A copy of the CAP is attached and made an official part of the minutes.

Mr. Caraccioli reported that there will be further discussion on how the PILOT EDF will be used for economic development purposes.

Debbie’s Hash & Mash Café Corp.
Following a discussion and review of the financing application, on a motion by Mr. Schick, 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 Debbie’s Hash & Mash Café Corp. 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. Canale, the financial assistance for renovations, M&E, inventory and working capital ($25,000) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Dollar General-Minetto
Mr. Caraccioli reported that the subdivision and site plan had been approved and that the acreage was adjusted to 1.343 acres. A discussion was held on use restrictions being requested by Dollar General. Counsel and the CEO were authorized to address these matters.

Columbia Mills
A condition on closing on the Dollar General site by the company is for the access road owned by the COIDA (approximately 50 ft. by 450 ft.) be deeded over to the Town of Minetto. A condition the Town has is that acceptance is subject to having the road resurfaced. The estimate cost was around $10,000. On a motion by Mr. Schick, seconded by Mr. Canale, authorization was approved to satisfy that condition.

Office of the NYS Comptroller – 2013 Annual Performance Report
Review of the comparative analysis was deferred to the next meeting.

Great Lakes Veneer
Following a review, on a motion by Mr. Canale, seconded by Mr. Schick, the debt in the amount of $302,452 was authorized to be reported for accounting and auditing purposes as uncollectable debt.

Tailwater Lodge
Following a discussion on the planned conference center expansion, it was agreed that the project would be eligible for the Agency’s Hotel PILOT Deviation Policy adopted on July 8, 2014.

Code of Ethics/Governance Committee
The Governance Committee reported that they had reviewed the Code of Ethics that was adopted on June 16, 2014 and recommended that it be reaffirmed with no changes. On a motion by Mr. Schick, seconded by Mr. Toth, a resolution was approved reaffirming the Code of Ethics as recommended by the Governance Committee. A copy of the Code of Ethics is attached and made an official part of the minutes.

Grossman St. Amour, CPAs PLLC
Following a review of the Firm’s proposal dated July 8, 2015, to conduct the Agency’s audit for FY ending July 31, 2015, on a motion by Mr. Schick, seconded by Mr. Canale, the CEO was authorized to respond that the proposal letter correctly sets forth the understanding of the Agency.

Next IDA Meeting
July 31, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Canale, seconded by Mr. Toth, the meeting was adjourned at 11:30 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
July 31, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Canale, Kunzwiler, Rush, Sorbello and Toth

Absent/Excused: Schick

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 July 14, 2015 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the Financial Statements for the period ended May 31, 2015 were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on July 17, 2015.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and potential contractual matters, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 9:10 a.m.

On a motion by Mr. Sorbello, seconded by Mr. Toth, the Executive Session ended at 11:15 a.m.

Delinquent Loan Report
No report. Mr. Caraccioli reported that the Micro Enterprise Loan associated with McGillicuddy’s Enterprises should be charged off as uncollectable debt due to a Chapter 7 bankruptcy in the amount of $9,703.96. On a motion by Mr. Toth, seconded by Mr. Kunzwiler, it was approved to charge off said debt.

Office of the NYS Comptroller – 2013 Annual Performance Report
Mr. Treadwell presented a COIDA Performance Comparison based on the data presented in the NYS Comptroller’s 2013 Annual Performance Report for IDAs. A copy of the COIDA Performance Comparison for 2013 is attached and made an official part of the minutes.

Board of Directors Annual Evaluation of Performance/Governance Committee
The Governance Committee reported the Summary Results of the Confidential Evaluation of Board Performance for review, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, authorization was approved to submit the report to the NYS ABO.

Following a discussion, it was agreed that further discussions will be held on those items that received a “Somewhat Agree” response as well as matters involving strategy, governance, PAL guidelines and best practices. A retreat in the Fall will be scheduled.

Price Chopper/Incubator Project
Following a discussion on development costs that have been estimated for the project and the CFA application for State funding support, on a motion by Mr. Canale, seconded by Mr. Toth, it was approved to commit up to $1.5 million from the PILOT EDF to be used to develop the proposed 43,000 sf incubator in the City of Oswego.

Revolving Loan Fund (PILOT EDF)
Mr. Caraccioli reported that the Corrective Action Plan was filed with the Office of the NYS Comptroller on July 24, 2015. He also reported that agreement on the language in a County Resolution has been resolved and that the Resolution will be on the County Legislature agenda for August 13, 2015.

Dollar General – Minetto
Mr. Caraccioli reported that the acquisition of the Columbia Mills site and the title was signed on July 31, 2015 and is being held in escrow.

Lenway/Fluttering Gardens
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, authorization to terminate the income execution was approved.

Oswego County Federal Credit Union
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 constitutes a project and 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.

Designer Hardwood Flooring CNY, Inc.
Mr. Treadwell reported that the company was approved for Start-Up NY by the State and was the first in Oswego County and the first for SUNY Oswego. Following a discussion regarding financing matters involving NBT Bank, on a motion by Mr. Canale, seconded by Mr. Kunzwiler, it was approved to subordinate the Agency’s collateral position on inventory and account receivables to NBT Bank in order to allow for an increase in the Line of Credit.

SBA 504/Operation Oswego County Financing
Following a discussion, on a motion by Mr. Canale, seconded by Mr. Sorbello, it was approved to provide up to $150,000 from the General EDF to OOC for the purpose of providing short term bridge financing associated with SBA 504 loans. Upon closing on the SBA 504 permanent financing, the proceeds would be returned to the COIDA.

Next IDA Meeting
August 27, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

L. Michael Treadwell
CEO

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
August 27, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

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

Absent/Excused: None

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. Sorbello, seconded by Mr. Toth, the minutes of the July 31, 2015 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Kunzwiler, seconded by Mr. Schick, the Financial Statements for the period ended June 30, 2015 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 10, 2015.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and potential contractual matters, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 9:08 a.m.

On a motion by Mr. Kunzwiler, seconded by Mr. Canale, the Executive Session ended at 10:55 a.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended July 31, 2015. Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Canale, authorization was approved to initiate legal action regarding the Tavern on the Lock project.

County of Oswego – Alternative Allocation of PILOTs
Mr. Treadwell distributed a copy of an article on the resolution approved by the County Legislature on August 14, 2015 that appeared in the Palladium Times on August 15, 2015. A copy of article is attached and made an official part of the minutes. Mr. Caraccioli reported that the resolution was approved by a vote of 18-5-1-1.

Oswego County Federal Credit Union
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved approving the 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; 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. Canale, 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.

Rochester’s Cornerstone Group/Oswego County Opportunities
Following a discussion and review of the application, on a motion by Mr. Schick, seconded by Mr. Canale, a resolution was approved determining that the acquisition, construction, reconstruction, renovation and equipping of a commercial facility at the request of the Company constitutes a project and 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.

A request to have the developers make a presentation on the scope of the project and the structure of a PILOT term was made.

SBA 504/Operation Oswego County Interim Financing
Following a discussion on the recent increase in possible SBA 504 financing, on a motion by Mr. Canale, seconded by Mr. Schick, it was approved to amend the July 31, 2015 action and increase the interim support up to $275,000 and authorization was approved to enter into an Interim Funding Agreement.

COIDA Application for Financial Assistance
Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Toth, it was approved to modify the time period for job estimates from 3 years to 5 years.

Happy Hearts Childcare, 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 Happy Hearts Childcare, Inc. Project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the financial assistance renovations, equipping, soft costs and working capital ($20,000) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Incubator/Price Chopper
Mr. Treadwell reported that the CFA funding has not been determined.

Branch Development Oswego, LLC/Holiday Inn Express
Following a discussion and concerns relative to the IRP loan associated with the program requirements, it was recommended that the loan be substituted with financial assistance using the changes made in the PILOT EDF and provide the financial assistance through OOC. On a motion by Mr. Kunzwiler, seconded by Mr. Canale, the modification was approved.

Next IDA Meeting
September 17, 2015 at 9:30 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Schick, seconded by Mr. Canale, the meeting was adjourned at 11:44 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
September 17, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK?

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

Absent/Excused: None

Also Present: Ryan C. Brandt, Kevin C. Caraccioli, Diane Cooper-Currier, Carol Oster 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. Kunzwiler, seconded by Mr. Sorbello, the minutes of the August 27, 2015 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 3, 2015.

Delinquent Loan Report
Mr. Caraccioli reported that the MEP loan to Lenway/Fluttering Gardens has been paid.

Rochester’s Cornerstone Group/Oswego County Opportunities
Mr. Brandt, Ms. Cooper-Currier and Ms. Oster provided an overview of the proposed Champlain Commons project being planned for the Town of Scriba.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and potential contractual matters, on a motion by Mr. Toth, seconded by Mr. Canale, it was approved to go into Executive Session at 10:51 a.m.

On a motion by Mr. Canale, seconded by Mr. Sorbello, the Executive Session ended at 11:48 a.m.

Champlain Commons Project
On a motion by Mr. Toth, seconded by Mr. Canale, the following proposed incentives were authorized to be used for the Deviation Notification and the required Public Hearing.

Basis of PILOT:                     $33,600 with 2% Annual Adjustments
Term of PILOT:                     15 Years with Option to Negotiate to Continue Beyond 15 Years
Sales Tax Exemption:            Available
Mortgage Tax Exemption:      Available
HUD EDF Loan:                     $300,000 for 20 Years at 2%

New York State EDC
Review of potential legislation at State level that could impact IDAs.

Incubator/Price Chopper Project
Mr. Treadwell reported that the initial funding level at this time for the project via the CFA application would be $1,000,000.

Altmar Genesee, LLC/Tailwater Lodge
Mr. Treadwell reported that the project was recognized by the Northeastern Economic Developers Association with the Project of the Year Award in a Small Community. Plans continue for the conference center expansion.

Laser Transit
Mr. Treadwell reported that at this time there is no required action required by the Agency.

Huhtamaki
Following a discussion, on a motion by Mr. Canale, seconded by Mr. Schick, approval of the Company’s request to modify the LOC collateral for HUD EDF Loan Number 411 to $62,590 was approved.

Sunoco, Inc.
Following a discussion, on a motion by Mr. Canale, seconded by Mr. Kunzwiler, a resolution was approved to authorize an extension to December 31, 2015, for the Temporary Sales Tax Appointment Agreement, the Temporary Sales Tax Appointment Letter and the ST-60. A copy of the Approving Resolution is attached and made an official part of the minutes.

Industrial Development Agency
Review of the status of IDAs in the area and in the State.

One Stop Center/Oswego County WDB
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Canale, authorization was approved to provide $2,500 from the Agency’s General EDF to the Oswego County WDB to help support the One Stop Center activities due to a short fall in Federal funding.

Annual Administrative Reporting Fee
Mr. Treadwell reported that the billed amount for 2015 was $21,500 and that $20,000 has been paid to date.

V&D Properties, LLC
The request to subordinate to new refinancing with Community Bank has been withdrawn and the $17,600 balance on the Agency’s loan will be paid off.

Dollar General
Mr. Treadwell and Mr. Caraccioli reviewed the discovery of a pipe and underground tunnel under Route 48 during construction.

Next IDA Meeting
September 28, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
September 28, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

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

Absent/Excused: None

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

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

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the minutes of the September 17, 2015 meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Schick, the Financial Statements for the period ended July 31, 2015 were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on September 19, 2015.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and potential contractual matters, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 9:02 a.m.

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

SolarCity Corporation
On a motion by Mr. Schick, seconded by Mr. Canale, and on the recommendation of counsel, it was approved to adopt language change in documents that any third party purchaser of credit must be a for-profit entity.

M&A Holdings of CNY, LLC
Mr. Caraccioli reported that Verizon Wireless plans to place a cell tower on the property requiring a lease on the premises. The primary lender, Pathfinder Bank, has consented to the arrangement. On a motion by Mr. Canale, seconded by Mr. Sorbello, it was approved and authorized to enter into a Consent to Lease and Subordination, Nondisturbance and Attornment Agreement with Syracuse SMSA Limited Partnership, d/b/a Verizon Wireless, Tenant.

Advanced Manufacturing Institute/Cayuga Community College – Fulton Campus
Ms. DeShaw, Executive Dean Community Education and Workforce Development, made a presentation on the Advanced Manufacturing Institute being proposed for the Fulton Campus. The project will be a collaboration with CiTi. The project will be a technology training lab that will be focused on needs of manufacturers. Space at the Fulton Campus will be renovated and equipped. Plans are to offer certificate programs and a 2-year degree program in industrial maintenance technology. Concept being supported by major companies such as The Fulton Companies, Novelis and Huhtamaki and machine tool companies. Application for funding is being prepared to help the project move forward and support to help leverage grant funding is being pursued.

Executive Session
Chair Rush reported that due to matters involving the Financial history of a business/organization and individuals and contractual matters, on a motion by Mr. Sorbello, seconded by Mr. Canale, it was approved to go into Executive Session at 10:31 a.m.

On a motion by Mr. Canale, seconded by Mr. Toth, the Executive Session ended at 10:50 a.m.

Advanced Manufacturing Institute
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Sorbello, authorization was approved to provide a letter of support and on a motion by Mr. Toth, seconded by Mr. Schick, authorization was approved to provide up to $100,000 from the PILOT EDF to help fund the Advanced Manufacturing Institute.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended August 31, 2015. It was reported that the V&D Properties, LLC loan was paid off in full.

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

Legacy House HFA
Mr. Treadwell reported that the application is still in process.

Rochester’s Cornerstone Group/OCO – Champlain Commons
Mr. Treadwell reported that the public hearing and the Deviation Notifications will be done whereby action can be taken at the next Agency’s meeting subject to SEQRA action being finalized by the Town of Scriba.

Entergy
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Schick, a resolution was approved supporting the continuation of the Entergy plant and nuclear power generation. A copy of the Supporting Resolution is attached and made an official part of the minutes.

Resolution Regarding an Alternate Allocation of PILOT Payments Received by the COIDA Pursuant to GML §858(15)
A copy of Resolution 143 approved by the Oswego County Legislature on August 13, 2015, is attached and made an official part of the minutes.

Universal Metal Works/Davis-Standard
Mr. Treadwell reported that the ribbon-cutting ceremony will be held on October 2, 2015 at 11:30 a.m.

Columbia Mills – Route 24-A
Following a discussion on the increase in the cost to pave the road for the Town of Minetto and for the Dollar General project, on a motion by Mr. Schick, seconded by Mr. Canale, the adjusted cost in the amount of $12,646.86 was approved and will be paid from the sale of the property.

Next IDA Meeting
October 15, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Sorbello, seconded by Mr. Canale, the meeting was adjourned at 11:10 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
October 15, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Canale, Kunzwiler, Rush, Sorbello and Toth

Absent/Excused: Schick

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. The CEO was authorized to record the minutes of the meeting.

APPROVAL OF MINUTES
On a motion by Mr. Toth, seconded by Mr. Sorbello, the minutes of the September 28, 2015 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 30, 2015.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and potential contractual matters, on a motion by Mr. Kunzwiler, seconded by Mr. Canale, it was approved to go into Executive Session at 9:08 a.m.

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

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended September 30, 2015.

Tavern on the Lock
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, it was approved to restructure the HUD EDF Loan No. 4151 to an 8 year term at 3.0% based on the adjusted balance of $48,805.

Rochester’s Cornerstone Group Ltd/Oswego County Opportunities, Inc. – Champlain Commons
Mr. Caraccioli reported that the Town of Scriba Planning Board as Lead Agency for SEQRA approved a Negative Declaration that the project will not have a significant effect on the environment on October 14, 2015. 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 a $300,000 loan was approved from the HUD EDF.

On a motion by Mr. Canale, seconded by Mr. Sorbello, a resolution was approved for undertaking the acquisition, construction and equipping of a certain project, appointing the company as Agent of the Agency for the purposed of the acquisition, construction and equipping of the project; approving financial assistance in the form of exemptions from real property tax, state and local sales and use tax and mortgage recording tax and a loan from the Agency’s HUD 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.

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

On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved authorizing the execution and delivery of certain documents by the Agency in connection with a 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.

Debz Diner
Following a discussion and review of the financing application, on a motion by Mr. Toth, seconded by Mr. Canale, 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 Debz Diner 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. Kunzwiler, the financial assistance from the IRP EDF ($28,000) for building and equipment was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Investment Policy
Mr. Treadwell reported that the Agency was in compliance with the collateral requirements for FY ended July 31, 2015. On a motion by Mr. Canale, seconded by Mr. Toth, the Compliance Report was approved.

CNY Raceway Park
Mr. Treadwell reported on the relocation of Super Dirt Week to the CNY Raceway Park next year and work must begin soon. The Governor announced another $5 million for the project. A public hearing was authorized and it was acknowledged that the PILOT for the project would be a deviation from the UTEP.

Entergy
On a motion by Mr. Toth, seconded by Mr. Canale, a resolution in support of retaining Entergy, supporting the nuclear industry and authorizing the coordination of establishing a meeting with Governor Cuomo to urge State support in sustaining the tremendous economic impact generated by the Entergy plant operations in Oswego County. A copy of the Resolution is attached and made an official part of the minutes.

Job Creation Performance Report
Following a review of the format of the Job Creation Performance Report, on a motion by Mr. Canale, seconded by Mr. Kunzwiler, the format was approved.

R&D Design and Associates, LLC
Following a discussion and review of the application, on a motion by Mr. Sorbello, seconded by Mr. Canale, a resolution was approved determining that the acquisition, renovation and equipping of a commercial facility at the request of the Company constitutes a project and 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 on this being a potential project with SUNY Oswego for the Start-Up NY program, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, authorization was approved, if determined to be eligible, to enter into an Affiliation Agreement with SUNY Oswego for the project and the property located at 15 County Route 59 in the Oswego County Industrial Park in the Town of Schroeppel subject to the project being assisted with a Straight Lease Transaction.

Oswego County Land Bank
Following a discussion on the County’s application to create a Land Bank, on a motion by Mr. Canale, seconded by Mr. Kunzwiler, authorization to issue a letter of support was approved.

Kleis Equipment & Sales, Inc.
Mr. Dano reported that the IRP EDF loan has been approved by USDA and a closing will be scheduled.

Branch Development Oswego, LLC
Following a discussion, on a motion by Mr. Canale, seconded by Mr. Sorbello, the $100,000 IRP EDF loan approved for the Holiday Inn Express project on September 17, 2014 was canceled.

Hospitality/Tourism Initiative (2015-16)
Following a discussion on the importance of the growing and expanding hospitality/tourism sector in Oswego County and recognizing that this sector is one of the targeted growth clusters of the CNY REDC, on a motion by Mr. Canale, seconded by Mr. Sorbello, authorization was approved to provide up to $100,000 from the General EDF to Operation Oswego County, Inc. to be used to help support one or more hospitality/tourism projects during 2015-16.

Next IDA Meeting
November 11, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

L. Michael Treadwell
CEO

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
November 11, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

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

Absent/Excused: None

Also Present: Roger J. Beer, Kevin C. Caraccioli, David S. Dano, Christina R. Ondrako 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. Sorbello, seconded by Mr. Toth, the minutes of the October 15, 2015 meeting were approved. Mr. Schick abstained.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Canale, the Financial Statements for the period ended August 31, 2015 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 27, 2015.

Audit Report for FY Ended 7/31/15
Mr. Beer and Ms. Ondrako of Grossman St. Amour, CPAs PLLC presented the Summary of the 2015 Audit Report Findings dated November 11, 2015. A draft of the Financial Statements of the County of Oswego IDA was reviewed. Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Toth, the Audit Report was approved.

Executive Session
Chair Rush and Mr. Caraccioli reported that due to matters involving the financial history of a business/organization and individuals and pending contractual matters, on a motion by Mr. Toth, seconded by Mr. Sorbello, it was approved to go into Executive Session at 9:44 a.m.

On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Executive Session ended at 11:07 a.m.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended October 31, 2015. On a motion by Mr. Schick, seconded by Mr. Canale, authorization was approved to pursue legal action relative to the Riverview Automotive loan.

R&D Design and Associates, LLC
Following a discussion and review of the financing application and a review of the EAF prepared by the Company in order to classify the Project, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, it was determined that the Project constitutes a Type II action as that term is defined by SEQRA and no further review is required. 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 the leasing of equipment ($45,000) was approved.

Following a discussion, on a motion by Mr. Canale, seconded by Mr. Schick, a resolution 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 exemption from real property tax, state and local sales and use tax and mortgage recording tax; entering a lease transaction for the purchase of equipment to be used in the project facility in an amount not to exceed $45,000; 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. A copy of the Financing Proposal Summary Cost/Benefit Analysis is on file at the Agency.

Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Canale, 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. Canale, a resolution was approved authorizing the execution and delivery of certain documents by the Agency in connection with a 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.

Annual Report FY 8/1/14 – 7/31/15
Following a review, on a motion by Mr. Sorbello, seconded by Mr. Canale, 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.

Sunoco, Inc.
Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, a resolution was approved approving an extension of the Company’s appointment as Agent of the Agency until March 31, 2016 and the execution and delivery of certain documents in connection therewith. A copy of the Approving Resolution is attached and made an official part of the minutes.

Branch Development Oswego, LLC/Holiday Inn Express
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Canale, a resolution was approved approving an extension of the Company’s appointment as Agent of the Agency until February 28, 2016 and the execution and delivery of certain documents in connection therewith. A copy of the Approving Resolution is attached and made an official part of the minutes.

Oswego County Economic Development Plan
Following a discussion, it was agreed that the Agency concurred with the intent to develop a comprehensive strategy for economic development and authorization to collaborate were approved.

Oswego County Airport
Following a discussion, on a motion by Mr. Canale, seconded by Mr. Kunzwiler, support of the County’s application for funding to construct a new terminal building was approved.

Columbia Mills
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Canale, the request by Dollar General to remove some trees on COIDA property due to restricting the view of the store, it was approved to allow at their cost removal of only those trees that are acceptable to the Agency.

Mr. Treadwell reported that the Oswego County Planning Dept. has a USFS grant for tree planting on approved Brownfield sites which includes the Columbia Mills site. Authorization was approved to review this to determine if it could be beneficial to enhance the site.

Land Bank
Following a discussion, on a motion by Mr. Canale, seconded by Mr. Kunzwiler, it was approved to support the Land Bank up to $50,000 with funds necessary to secure State approval and for matching funds to establish a countywide Land Bank Corporation. The Agency’s source of funds to be determined if this project advances.

Altmar Genesee, LLC/Tailwater Lodge
Mr. Treadwell reported that the Agency was in receipt of an Application for Financial Assistance for the Banquet and Catering Facility expansion.

Entergy
Following a discussion on the status of the future of the nuclear plant, on a motion by Mr. Schick, seconded by Mr. Canale, authorization was approved to retain the professional services of Eric Mower & Associates to develop a pro-active strategy on retaining the Entergy Nuclear Plant and supporting the power production industry in Oswego County.

Next IDA Meeting
November 30, 2015 at 9:00 a.m. was scheduled.

ADJOURNMENT

On a motion by Mr. Schick, seconded by Mr. Canale, the meeting was adjourned at 11:45 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
November 30, 2015
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK
�

PRESENT: Canale, Kunzwiler, Rush, Sorbello and Toth

Absent/Excused: Schick

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. The CEO was authorized to record the minutes of the meeting.

APPROVAL OF MINUTES
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the minutes of the November 11, 2015 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 17, 2015.

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

Delinquent Loan Report
No Report. Mr. Caraccioli reported that the financing restructuring with the Tavern on the Lock was all set.

Upstate Energy Jobs Campaign
Following a review of the efforts to date, the Phase I Awareness initiative was felt to have been very successful. A discussion was held on Phase II which would be Coalition Building for an Action Plan. It was agreed that efforts to address the need to resolve the transmission restrictions was critical and essential to the energy generation industry in Oswego County and in Upstate NY. Also, regardless of the final outcome of the fate of Entergy, nuclear power needs to be included in the energy mix for NYS as a carbon-free, reliable, baseline load to support economic development in the future.

Following a discussion on Entergy’s filing of termination to the NYS Public Service Commission, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, authorization was approved for counsel to file the COIDA as an interested party in the proceedings.

Altmar Genesee, LLC/Tailwater Lodge – Banquet Project
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, construction and equipping of a commercial facility at the request of the Company constitutes a project and 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.

Dick’s Auto Specialties
Following a discussion and review of the financing application and a review of the Short Environmental Assessment Form and the SEQRA action taken by the Town of Richland Planning Board on April 15, 2015, making the determination of a Negative Declaration on the SEQRA, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, concurrence with the Town of Richland’s Planning Board determination was approved. 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 from the IRP EDF ($38,000) for equipment was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Hospitality/Tourism Initiative (2015-16)
Following a discussion on the need to expand this initiative from $100,000 to $200,000, on a motion by Mr. Sorbello, seconded by Mr. Canale, it was approved to provide up to $200,000 from the General EDF to Operation Oswego County, Inc. to be used to help support one or more hotel projects, the funding was subject to the City of Oswego CDO committing up to $100,000 to assist in the financing of the Holiday Inn Express project.

Fulton Group N.A./Amendment No. 4 to the General Security Agreement with M&T Bank
Following a discussion, on a motion by Mr. Canale, seconded by Mr. Kunzwiler, authorization was approved to execute the Amendment No. 4 to the General Security Agreement with M&T Bank as requested by the Company.

Next IDA Meeting
January 13, 2016 at 9:00 a.m. was scheduled.

ADJOURNMENT

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

Respectfully Submitted,

L. Michael Treadwell
CEO