IDA Minutes:

2010

• 1/21/10

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PRESENT: Daniels, Ospelt, Rush, Schick and Toth

Absent: Kunzwiler and Sorbello

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

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. Ospelt, seconded by Mr. Toth, the minutes of the December 21, 2009, 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 12, 2009.

Loan Delinquent Report
Mr. Dano reviewed the report for the period ended December 31, 2009. A discussion was held relative to Sure-Lock Industries and Great Lakes Veneer. Counsel was authorized to pursue appropriate legal action.

IDA Members
Mr. Treadwell distributed contact information on each Agency member.

Empire Fresh Cuts
Following a review of the request for a 6-month deferment, the request was denied.

RGC-SRE Oswego Acquisition, LLC
Mr. Kaplewicz, Alderman, Seventh Ward, Oswego, Spoke in full support of the project and stated that he had heard no negatives about it.

Mr. Treadwell reported that no concerns have been expressed at the Public Hearing nor from the Deviation Letters to the taxing authorities. Following a review of the Financing Proposal Summary and Cost/Benefit Analysis, on a motion by Mr. Schick, seconded by Mr. Ospelt, a resolution was approved to undertake the acquisition, reconstruction, renovation and equipping of a certain project, appointing RGC-SRE Oswego Acquisitions, LLC agent of the Agency for the purpose of the acquisition, reconstruction, renovation and equipping of the project, approving financial assistance in the form of real property tax, mortgage recording tax, sales and use tax exemptions, a loan from the Agency’s EDF in an amount not to exceed $300,000 and authorizing the execution and delivery of an agreement between the Agency and RGC-SRE Oswego Acquisitions, LLC. A copy of the Inducement Resolution is attached and made an official part of the minutes. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

On a motion by Mr. Toth, seconded by Mr. Schick, a resolution was approved to approve 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 RGC-SRE Oswego Acquisitions, LLC. A copy of the PILOT Resolution is attached and made an official part of the minutes.

On a motion by Mr. Ospelt, seconded by Mr. Daniels, a resolution was approved to authorize the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of RGC-SRE Oswego Acquisitions, LLC. A copy of the Final Approving Resolution is attached and made an official part of the minutes.

Housing Visions Consultants, Inc./Oswego Hamilton Homes, LLC – Phases III & IV
Following a discussion and a request to modify Phase III and to split this Phase into a Phase III and Phase IV, on a motion by Mr. Toth, seconded by Mr. Ospelt, a resolution was approved determining that the acquisition, reconstruction and equipping of a commercial facility at the request of Housing Visions Consultants, Inc. on behalf of an entity to be formed for use as affordable rental housing constitutes a project and describing the financing assistance requested in connection therewith and authorizing a public hearing. A copy of the Initial Resolution is attached and made an official part of the minutes.

Next IDA Meeting
February 3, 2010 at 3:00 p.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Schick, seconded by Mr. Daniels, the meeting was adjourned at 4:45 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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