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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
February 27, 2008
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Ospelt, Rush, Schick, Toth and Treadwell

Absent: Kunzwiler and Sorbello

Also Present: Allison Nelson and David Dano

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. Toth, seconded by Mr. Ospelt, the minutes of the January 9, 2008, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Ospelt, the Financial Statement for the period ended November 30, 2007, was 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, 2008.

Annual Report FY 8/1/06 – 7/31/07
Following a review, on a motion by Mr. Ospelt, seconded by Mr. Toth, the Annual Report was approved and will be placed on the IDA website.

Branches Tree Service
Following a discussion and review of the application, on a motion by Mr. Toth, seconded by Mr. Ospelt, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Branches Tree Service 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, financial assistance for working capital ($15,000) was approved for the Branches Tree Service project subject to acceptable collateral. A copy of the Financing proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Delinquent Loan Report
Mr. Dano reviewed the plan for the sale of the motorcycle associated with the Do-Shea Enterprises project. Mr. Treadwell reported that the payoff of the Zappala Farms, LLC loan is anticipated, however, if not received, authorization was approved to start foreclosure. Mr. Dano reviewed the status of the Galini project, on a motion by Mr. Ospelt, seconded by Mr. Schick, authorization was approved to pursue collection of debt.

Disposition of Property Guidelines
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Toth, a resolution was adopted approving the Disposition of Property Guidelines and designating the Contracting Officer. A copy of the resolution is attached and made an official part of the minutes.

Galloo Island Wind Project
A general discussion was held on the proposed project in Jefferson County and its potential impact on Oswego County.

WiseBuys Stores
Chair Rush reported that the Subordination Agreement had been executed.

Fulton Cogeneration Associates
Following a discussion and review of the proposals for chemical removal and valuation services, on a motion by Mr. Schick, seconded by Mr. Ospelt, authorization was approved to enter into service agreements with Clean Harbors Environmental Services for chemical removal and Stout Risius Ross, Inc. for valuation services.

Mr. Treadwell reported that the Court has approved the Fourth Amended Order of Attachment to allow the Sheriff to remove hazardous chemicals.

Mr. Treadwell reported that the process to establish a customer account with General Electric was underway whereby an evaluation of the turbine could be conducted.

It was reported that the Motion for Summary Judgment was filed on February 13, 2008, by Hiscock & Barclay.

A review of expenses incurred through February 14, 2008, was provided.

Pulaski Boylston Snowmobile Club
Following a review of a request to utilize part of the property owned by the IDA on Peck Road in the Town of Richland, the request was denied.

Jay F. Sullivan, MD
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Toth, a 3-month deferment (March-May 2008) on both IDA loans was approved and, subject to review, an additional 3-month deferment (June-August 2008) will be considered.

Great Lakes Veneer
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Ospelt, a 3-month deferment (January-March 2008) on both IDA loans was approved and, subject to a review of financials and an equity infusion report, an additional 3-month deferment (April-June 2008) will be considered.

The Post Standard
“Wanted: Better IDAs” article published on February 4, 2008 was discussed.

G&S Broadwell, Inc.
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Ospelt, a resolution was adopted authorization the County of Oswego IDA to participate in a refinancing for G&S Broadwell, Inc. A copy of the resolution is attached and made an official part of the minutes.

Precision Wood Flooring Products
Following a discussion regarding refinancing with Wilber National Bank, on a motion by Mr. Schick, seconded by Mr. Ospelt, the request for the IDA to agree to a co-equal first mortgage position was denied. It was also agreed, if the Agency’s loan is paid, the PILOT Agreement would remain for the term, subject to acceptable employment levels at the facility being created and/or maintained.

Next IDA Meetings
March 12, 2008 at 2:00 p.m. was scheduled.

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

Respectfully Submitted,

L. Michael Treadwell
Secretary

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
January 9, 2008
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

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

Absent: Kunzwiler

Also Present: Kevin C. Caraccioli, Jack Alter and Paul Skrupa

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. Toth, seconded by Mr. Schick, the minutes of the December 11, 2007, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Schick, the Financial Statement for the period ended October 31, 2007, was approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on December 28, 2007.

Delinquent Loan Report
The report for the period ended December 31, 2007, was reviewed.

Audit Report FY Ended July 31, 2007
Mr. Alter, CPA, reviewed the Audit Report. On a motion by Mr. Schick, seconded by Mr. Ospelt, the report was accepted and approved.

Fulton Cogeneration Associates
Mr. Skrupa of OBG provided an update of actions that have been taken to winterize and safeguard the closed FCA plant. Plans include an evaluation of the market value of the equipment, an assessment of maintenance needed for the GE turbine and potential removal of on-site chemicals.

Mr. Caraccioli provided an update of the status of the litigation.

Procurement Policy
Following a discussion and review of a proposed Procurement Policy, on a motion by Mr. Sorbello, seconded by Mr. Ospelt, the Procurement Policy was approved and adopted. A copy of the Procurement Policy is attached and made an official part of the minutes.

Conflict of Interest Policy
Following a discussion and review of a proposed Conflict of Interest Policy, on a motion by Mr. Schick, seconded by Mr. Toth, the Conflict of Interest Policy was approved and adopted as amended. A copy of the Conflict of Interest Policy is attached and made an official part of the minutes.

Code of Ethics Policy
Following a discussion and review of a proposed Code of Ethics Policy, on a motion by Mr. Ospelt, seconded by Mr. Schick, the Code of Ethics Policy was approved and adopted as amended. A copy of the Code of Ethics Policy is attached and made an official part of the minutes.

Audit Committee Charter
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, action on the Audit Committee Charter was tabled.

Governance Committee Charter
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, action on the Governance Committee Charter was tabled.

Allied Energy Holdings
Mr. Caraccioli reviewed the terms and conditions on extending the option on the LOIP. Following a discussion, on a motion by Mr. Schick, seconded by Mr. Ospelt, the mutually agreed upon option agreement was approved. Representatives of the company are to be invited to attend and provide an update of the project.

Erie Blvd. Hydropower, LP
Mr. Treadwell reported that due to refinancing involving the Fulton Hydros, the IDA entered into an Amendment to the Amended and Restated Mortgage. Mr. Caraccioli noted that it had no impact on the Agency.

Next IDA Meetings
February 27, 2008 at 10:00 a.m. is scheduled.

ADJOURNMENT
On a motion by Mr. Toth, seconded by Mr. Schick, the meeting was adjourned at 11:50 a.m.

Respectfully Submitted,

L. Michael Treadwell
Secretary

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
December 11, 2007
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

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

Absent: Toth

Also Present: Kevin C. Caraccioli and David S. Dano

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. Ospelt, seconded by Mr. Schick, the minutes of the November 13, 2007, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Ospelt, seconded by Mr. Schick, the Financial Statement for the period ended September 30, 2007, was approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on November 30, 2007.

Delinquent Loan Report
The report for the period ended November 30, 2007, was reviewed.

RGC–SRE Oswego Acquisitions, LLC
Following a review of the application, on a motion by Mr. Ospelt, seconded by Mr. Schick, a resolution was approved determining that the acquisition, renovation and equipping of a commercial facility at the request of RGC-SRE Oswego Acquisitions, LLC, a New York limited liability company, for use as 24 upscale loft style residential units constitutes a project and describing the financial assistance requested in connection therewith and authorizing a public hearing. A copy of the resolution is attached and made an official part of the minutes.

Hiscock & Barclay, LLP
Mr. Treadwell reported that Jean S. Everett had rejoined H&B.

Governance and Audit Committees
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Sorbello, a resolution was approved appointing Board Members to the Governance and Audit Committees. A copy of the resolution is attached and made an official part of the minutes.

Drafts of each of the Charters for the Governance and Audit Committees were distributed.

Code of Ethics/Conflict of Interest/Procurement Policies
Drafts of each of the policies were distributed.

Corporate Omnibus Resolution
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Schick, a Corporate Omnibus Resolution was approved authorizing the adoption of corporate compliance policies and a statement of regularity for the years 2005-2007. A copy of the resolution is attached and made an official part of the minutes.

Resumes/Qualifications of Director
Mr. Treadwell requested that each Board Member submit an updated resume and/or completion of the Board Member Qualifications form.

Operation Oswego County, Inc./Veterans’ Van Project
Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, bridge funding up to $29,500 was approved to acquire and modify a van for purposes of veteran transportation by the VA. Repayment of the interest-free bridge loan would be derived from two NYS grants to OOC secured by Senator Wright and Assemblyman Barclay. OOC was appointed Agent of the IDA for purposes of acquiring the van.

Robin Fodora d/b/a Affordable Home Inventory
Following a discussion and review of the 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 Affordable Home Inventory 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. Schick, financial assistance for equipment and working capital ($8,000) was approved for the Affordable Home Inventory project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Housing Visions Consultants, Inc./Oswego Hamilton Homes, LLC
On a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved amending prior resolutions adopted by the Agency in conjunction with undertaking the acquisition, construction and equipping of a certain project, appointing Oswego Hamilton Homes, LLC, as Agent of the Agency for the purpose of the acquisition, construction and equipping of the project, approving a PILOT schedule and authorizing the execution and delivery of an agreement between the Agency and Oswego Hamilton Homes, LLC. A copy of the resolution is attached and made an official part of the minutes.

Fulton Cogeneration Associates
Mr. Treadwell reported that O’Brien & Gere was retained to manage a winterization and protection plan as authorized by the Court. Following a discussion, it was agreed that a Fourth Amendment Order of Attachment be requested to responsibly remove appropriate chemicals and to secure the fire protection system.

Mr. Caraccioli reviewed the status of litigation.

Owens-Brockway Glass Container, Inc.
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, authorization was approved to execute a lease termination agreement for the property in the Town of Volney.

Allied Energy Holdings
Following a discussion, it was approved to continue to negotiate the extension of an option on the Lake Ontario Industrial Park to include progress reports on project development.

Next IDA Meetings
January 9, 2008, at 10:00 a.m. and February 27, 2008, at 10:00 a.m. were scheduled.

ADJOURNMENT
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the meeting was adjourned at 12:31 p.m.

Respectfully Submitted,

L. Michael Treadwell
Secretary

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
November 13, 2007
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

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

Absent: Kunzwiler

Also Present: Kevin Caraccioli and David Dano

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. Sorbello, seconded by Mr. Ospelt, the minutes of the October 18, 2007, meeting were approved.

Mr. Treadwell reported that the minutes, once approved by the Agency, would be posted on the Agency’s website.

TREASURER’S REPORT
On a motion by Mr. Ospelt, seconded by Mr. Schick, the Financial Statement for the period ended August 31, 2007, was approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on November 1, 2007.

Delinquent Loan Report
The report for the period ended October 31, 2007, was reviewed.

Disposition of Property Guidelines
Following a discussion and review of the proposed Disposition of Property Guidelines, on a motion by Mr. Sorbello, seconded by Mr. Toth, a resolution was adopted approving the Disposition of Property Guidelines. A copy of the resolution is attached and made an official part of the minutes.

On a motion by Mr. Ospelt, seconded by Mr. Schick, the Treasurer was designated to be the Contracting Officer per the Disposition of Property Guidelines.

New York Bold, LLC
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Ospelt, it was approved to modify the guarantor requirements to exclude Zappala Farms for the loan approved on August 8, 2007. Mr. Sorbello abstained.

Housing Visions Consultants, Inc./Oswego Hamilton Homes, LLC
Mr. Treadwell reported that a public hearing will be held on December 11, 2007, at 9:00 a.m. to address the amendments to the application to clarify the phase development of the project.

NYS Canal Corp.
Mr. Caraccioli reported that it would take the State two to three months to execute the lease for the 1 acre site. It was agreed to permit the NYS Canal Corp. to use the property with the understanding that the agreement would be signed. The term of the use was extended to May 15, 2008.

NYSEDC – 2008 IDA PAAA Training Course
Mr. Treadwell reviewed the scheduled PAAA Training Course to be held in Albany on January 24, 2008.

PILOT Economic Development Fund – 2008
The 2008 County Budget included a 10% allocation.

Fulton Cogeneration Associates
Mr. Treadwell reported that the inventory assessment was completed on October 19, 2007.

Following a review of FCA’s letter of October 25, 2007, requesting a response to their Settlement Proposal, no action was authorized. Mr. Caraccioli reviewed the status of the litigation.

Mr. Treadwell reported that a Third Amendment Order of Attachment has been submitted to the Court to authorize steps to winterize and safeguard the attached equipment.

Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Schick, a proposal from O’Brien & Gere for services related to the Facility Valuation and Asset Protection was authorized subject to review by the Chair and counsel.

Next IDA Meeting
December 11, 2007, at 10:00 a.m. is scheduled.

ADJOURNMENT
On a motion by Mr. Schick, seconded by Mr. Sorbello, the meeting was adjourned at 12:40 p.m.

Respectfully Submitted,

L. Michael Treadwell
Secretary

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COUNTY OF OSWEGO INDUSTRIAL DEVELOPMENT AGENCY
October 18, 2007
IDA OFFICE BUILDING
44 W. BRIDGE ST.
OSWEGO, NEW YORK

PRESENT: Kunzwiler, Ospelt, Schick, Sorbello and Treadwell
Absent/Excused: Rush and Toth
Absent: None
Also Present: Kevin Caraccioli, Hausmann-Alain Banet, Robert B. Liddell and David Dano

Secretary/Treasurer Treadwell 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. Schick, the minutes of the September 14, 2007, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Ospelt, seconded by Mr. Schick, the Financial Statement for the period ended July 31, 2007, was 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 5, 2007.

Loan Delinquent Report
The report for the period ended September 30, 2007, was reviewed.

Allison A.N. Duggan, MD PLLC
Following a discussion and review of the 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 Allison A.N. Duggan, MD, PLLC 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. Schick, financial assistance for a lease for equipment and furnishings ($20,000) was approved for the Allison A.N. Duggan, MD, PLLC project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

NYS Canal Corp.
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, a temporary land lease for approximately 1 acre of land at the Columbia Mills site in the Town of Minetto was approved for the NYS Canal Corp. for performance of work on Lock 0-5 between November 15, 2007 and May 1, 2008.
Public Authority Reporting Information System (PARIS)
On a motion by Mr. Schick, seconded by Mr. Sorbello, the Secretary/Treasurer was authorized to be the Primary Authorizer Designation for the PARIS.

NYSEDC
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Schick, sponsorship to help fund a Center for Governmental Research Study on IDA activities in the amount of $750 was approved.

Allied Energy Holdings
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, it was authorized to extend the option on the LOIP for the requested extension outlined in communications dated October 11, 2007, subject to the option fee being non-refundable.

Oswego County Opportunities
Following a review of the application, on a motion by Mr. Sorbello, seconded by Mr. Schick, a resolution was approved determining that the acquisition, renovation and equipping of certain commercial properties at the request of Oswego County Opportunities, Inc., a New York not for profit corporation, for use as health care centers and a nutrition facility, constitutes a project and describing the financial assistance requested in connection therewith and authorizing a public hearing. A copy of the resolution is attached and made an official part of the minutes.

Next IDA Meeting
November 13, 2007 at 10:00 a.m. and December 11, 2007 at 10:00 a.m. were scheduled.
Fulton Cogeneration Associates

Mr. Treadwell reported that an inspection as authorized by the court was scheduled for October 19, 2007.

Dr. Banet was introduced.

On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, it was approved to enter into Executive Session at 9:55 a.m. to discuss matters involving litigation.

On a motion by Mr. Ospelt, seconded by Mr. Schick, the Executive Session was ended at 12:30 p.m.

Dr. Banet thanked the Agency for the opportunity to discuss circumstances related to FCA and a proposed settlement. Dr. Banet departed at 12:35 p.m.

Following a discussion, the following were authorized: (1) determine the need to winterize the equipment and to implement a plan if necessary; (2) conduct an evaluation assessment of the equipment; (3) authorize counsel to request an amendment to the court order, if necessary, to allow implementation of a winterization plan and evaluation assessment.

ADJOURNMENT
On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the meeting was adjourned at 12:55 p.m.

Respectfully Submitted,

L. Michael Treadwell
Secretary

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