IDA Minutes:

2010

• 1/21/10

• 2/3/10

• 2/26/10

• 3/26/10

• 4/12/10

• 5/14/10

• 6/11/10

• 6/25/10

• 7/12/10

• 8/23/10

• 9/16/10

• 9/24/10

• 10/15/10

• 10/22/10

• 11/16/10

• 12/8/10

• 12/16/10

Current Minutes

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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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PRESENT: Daniels, Ospelt, Rush, Sorbello and Toth

Absent: Kunzwiler and Schick

Also Present: L. Michael Treadwell, David S. Dano, Kevin C. Caraccioli, Jacob Mulcahey and Mary M. Flett

Chair Rush called the meeting to order at 3:20 p.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Sorbello, seconded by Mr. Ospelt, the minutes of the January 21, 2010, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Toth, seconded by Mr. Ospelt, the Financial Statements for the period ended November 30, 2009, were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on January 23, 2010.

Housing Visions Consultants, Inc./Oswego Hamilton Homes, LLC – Phases III & IV
Following a discussion on the request to modify Phase III and to split this Phase into a Phase III and a Phase IV if necessary, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, 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 Phase III, LLC and Oswego Hamilton Homes Phase IV, LLC, as agents of the Agency for the purpose of the acquisition, construction and equipping of the project, approving an amended PILOT schedule and authorizing the execution and delivery of an agreement between the Agency and Oswego Hamilton Homes Phase III, LLC and Oswego Hamilton Homes Phase IV, LLC. A copy of the Amended Approving 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.

Empire Fresh Cuts
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Daniels, a 6-month deferment of principal and interest payments were approved for the PILOT EDF loan.

Executive Session
On a motion by Ms. Rush, seconded by Mr. Ospelt, it was approved to adjourn to Executive Session at 3:55 p.m. to review matters involving personal and corporate financial matters, potential lending of money and/or contractual matters regarding Furlong Properties, LLC, Sunoco, Inc. and the Delinquent Loan Report.

On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the Executive Session was ended at 4:25 p.m.

Loan Delinquent Report
The report for the period ended January 31, 2010 was accepted.

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

On a motion by Mr. Ospelt, seconded by Mr. Toth, financial assistance for the acquisition of property and equipment ($100,000) was approved for the Furlong Properties, LLC project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Sunoco, Inc.
The PILOT per order of the bankruptcy court was assigned and assumed by Sunoco, Inc. Counsel and the CEO were authorized to negotiate an acceptable amendment to the PILOT. Mr. Treadwell reported that Sunoco, Inc. had submitted an application and a request for an amendment.

Next IDA Meeting
February 26, 2010 at 8:00 a.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the meeting was adjourned at 4:35 p.m.

Respectfully Submitted,

L. Michael Treadwell
CEO

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PRESENT: Daniels, Ospelt, Schick, Sorbello and Toth

Absent: Kunzwiler and Rush

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

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

APPROVAL OF MINUTES
On a motion by Mr. Schick, seconded by Mr. Ospelt, the minutes of the February 3, 2010, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Sorbello, seconded by Mr. Schick, the Financial Statements for the period ended December 31, 2009, 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 11, 2010.

Delinquent Loan Report
No report.

WiseBuys Stores, Inc.
Mr. Caraccioli reviewed the proposed payment plan. On a motion by Mr. Sorbello, seconded by Mr. Schick, the payment plan for settlement was accepted as proposed with the inclusion of a confession of judgment provision.

Sure-Lock Industries
Mr. Jones provided an update on the status of both Sure-Lock Industries and Great Lakes Veneer. Following a discussion, counsel, CEO and CFO were authorized to negotiate an interim financing solution to the 2009 and 2010 PILOT payments which would be secured with a combination of business and liquid assets acceptable to the Agency.

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

On a motion by Mr. Daniels, seconded by Mr. Sorbello, financial assistance for the renovations and remodeling ($25,000) was approved for the Sticks Sportsbar Grill & Motel of New Haven project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

St. Peter’s Outfitter, LLC
Following a discussion and review of the application, on a motion by Mr. Schick, 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 St. Peter’s Outfitter, LLC project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Ospelt, seconded by Mr. Schick, financial assistance for the leasehold improvements/renovations and inventory ($69,500) was approved for the St. Peter’s Outfitter, LLC project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Mr. Daniels recused from the voting.

The Red Sun Fire Roasting Co., LLC
Following a discussion and review of the application, on a motion by Mr. Ospelt, seconded by Mr. Schick, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for The Red Sun Fire Roasting Co., 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. Sorbello, seconded by Mr. Ospelt, financial assistance for the renovations ($60,000) was approved for The Red Sun Fire Roasting Co., LLC project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.D&D Logging & Lumber, LLC
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Sorbello, a 6-month deferment of principal and interest payment were approved for the PILOT EDF lease.

Tim’s Donuts/Tim Horton’s
Mr. Treadwell reported that the company has paid all of its legal expenses associated with the application process.

2009-10 Administrative Services Assessment
A discussion was held on the Public Authorities Law Section 2975 that established a cost recovery of central governmental services to public authorities. Mr. Treadwell reported that efforts are underway being spearheaded by the NYS EDC to try to have this repealed. The Agency will revisit this at its March meeting.

HUD Interest Return – 2009
Following a discussion, on a motion by Mr. Schick, seconded by Mr. Ospelt, it was approved to return $8,929.53.

Sunoco, Inc.
Mr. Caraccioli and Mr. Treadwell provided an update on the status of the PILOT amendment negotiations with the company and the Town of Volney.

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

Next IDA Meeting

March 26, 2010 at 10:00 a.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Ospelt, seconded by Mr. Schick, the meeting was adjourned at 11:10 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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

Absent: None

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

Chair Rush called the meeting to order at 10:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Schick, the minutes of the February 26, 2010, meeting were approved.

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

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on March 10, 2010.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended February 28, 2010. It was reported that the first settlement payment for WiseBuys Stores, Inc. was received. A discussion was held regarding Oswego Recycling, counsel to review with the City of Oswego relative to a foreclosure. Reviewed a Release of Part of Mortgaged Premises associated with K. Goppert in return for $3,750.

USDA Rural Development IRP
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved authorizing the filing of an application to the USDA Rural Development to participate in the Intermediary Relending Program and authorizing the Agency’s commitment level to participate. A copy of the resolution is attached and made an official part of the minutes.

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

Investment Policy
Mr. Treadwell reported that the Agency was in compliance with the collateral requirements for FY ended July 31, 2009.

Coleman’s Properties, LLC
Mr. Caraccioli provided an update on litigation relative to the default on the 2009 PILOT.

Authorities Budget Office
Following a review of the Acknowledgment of Fiduciary Duties and Responsibilities required by PAL Section 2824(1)(h), the form was executed by all members.

Procurement Authorization
Following a review of proposals to purchase a fire proof file, on a motion by Mr. Schick, seconded by Mr. Daniels, it was approved to purchase the file from FTS, Inc. in compliance with the Procurement Policy, Guideline 3(b).

Council of Development Finance Agencies
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, it was approved to renew the Annual Membership in CDFA.

2009-2010 Administrative Services Assessment
Following a discussion and update on the legislative action on bills to repeal the law and on the litigation in cooperation with NYSEDC and other IDAs challenging the legality of the IDA tax, and the potential for injunctive relief, it was decided to not pay the IDA tax due on March 31, 2010 on or prior to that date. The status will be reviewed at the next Agency meeting scheduled for April 12, 2010.

Fulton Cogeneration Associates
Mr. Treadwell and Mr. Caraccioli provided an update on the litigation associated with El Paso. It was agreed that counsel from H&B will be invited to the next Agency meeting.

Sure-Lock Industries
It was reported that payment of the 2009 PILOT was expected.

Sunoco, Inc.
Following a discussion on the PILOT amendment negotiations and Sunoco’s proposal, on a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, it was agreed that the proposed level minimums should not be reduced and should remain as originally proposed to the company.

Next IDA Meeting
April 12, 2010 at 9:00 a.m. was scheduled.

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

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT: Kunzwiler, Schick, Sorbello and Toth

Absent: Daniels, Ospelt and Rush

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

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. Sorbello, seconded by Mr. Kunzwiler, the minutes of the March 26, 2010, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, the Financial Statements for the period ended February 28, 2010, were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on March 30, 2010.

Fulton Cogeneration Associates
Mr. Liddell provided an update on litigation regarding El Paso. Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, authorization was approved for counsel to (1) commence an asset deposition, (2) retain additional counsel to represent the Agency if the action is transferred to Texas, and (3) initiate negotiating a settlement.

2009-2010 Administrative Services Assessment
Mr. Treadwell reported that the Agency paid the IDA Tax “Under Protest” on March 31, 2010. Mr. Treadwell reported that the State has voluntarily suspended collection activities pending the conclusion of litigation. Efforts to resolve this matter without further Court intervention are being pursued. Attached and made an official part of the minutes is the letter dated April 7, 2010, from the Office of the Attorney General regarding this matter.

Mr. Sorbello reported that the County Legislature has on its agenda a resolution supporting the repeal of the IDA Tax.

Delinquent Loan Report
Report waived.

Oswego Recycling, LLC
Mr. Caraccioli reviewed the property tax foreclosure action and outlined the Agency’s position on the foreclosure and equipment collateral.

Laser Transit Ltd.
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 Laser Transit Ltd. 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. Schick, financial assistance for the acquisition of equipment and working capital ($370,000) was approved for the Laser Transit Ltd. project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Sure-Lock Industries
Mr. Treadwell reported that the 2009 PILOT was paid.

Next IDA Meeting
May 14, 2010 at 9:00 a.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Kunzwiler, seconded by Mr. Schick, the meeting was adjourned at 11:00 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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

Absent: None

Also Present: L. Michael Treadwell and David S. Dano

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

APPROVAL OF MINUTES
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the minutes of the April 12, 2010, meeting were approved.

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

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on April 29, 2010.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended April 30, 2010. A discussion was held relative to Great Lakes Veneer and Sure-Lock Industries.

Annual Performance Report on NYS’ IDAs
The Office of the New York State Comptroller’s Annual Performance Report on New York State’s Industrial Development Agencies for Fiscal Year Ending 2008 was distributed and reviewed.

Bishop’s Commons
Following a discussion regarding a Mortgage Modification Agreement that would reduce the mortgage interest rate from 6.15% to 4.25%, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the following consents were approved: (1) Consent, Acknowledgment and Agreement to Modification of HUD Regulatory Agreement, (2) Consent, Acknowledgment and Agreement to Restated Security Agreement, and (3) Consent, Acknowledgment and Agreement to Mortgage Modification Agreement.

The Red Sun Fire Roasting Co., LLC
Following a discussion, on a motion y Mr. Daniels, seconded by Mr. Ospelt, it was approved to release the corporate guarantee of The Port City Café & Bakery, Inc. once the merger of the business entities into one entity is finalized.

Patsy M. Iannolo – Fulton Project
Following a discussion, on a motion by Mr. Ospelt, seconded by Mr. Toth, it was approved to subordinate the Agency’s 2006 loan to an additional $50,000 in financing from Pathfinder Bank.

Bardy’s 4 Seasons Tire & Auto Repair, Inc.
Following a discussion and review of the application, on a motion by Mr. Ospelt, seconded by Mr. Sorbello, the SEQRA action adopted by the Sandy Creek Regional Planning Board on December 4, 2007 determining that the Bardy’s 4 Seasons project will not have a significant effect on the environment was adopted. 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 the acquisition of equipment and working capital ($35,000) was approved for the Bardy’s 4 Seasons Tire & Auto Repair, Inc. project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is one file at the Agency.

Oswego Hamilton Homes Phase I, LLC
Mr. Treadwell reported that the final financing for the HOME funds was scheduled for document execution on May 17, 2010 by the IDA.

Budget Report for PARIS
Following a discussion and review of the Projected Revenues and Expenses Report for the Fiscal Year Ending July 31, 2011, on a motion by Mr. Toth, seconded by Mr. Sorbello, the Budget Report was approved. Attached and made an official part of the minutes is a copy of the Projected Revenues and Expenses Report for the Fiscal Year Ending July 31, 2011.

The Budget Report included an adjustment for the Administrative Services Agreement with Operation Oswego County, Inc. to increase to $175,000.

Fulton Cogeneration Associates
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, it was approved to authorize retaining John R. Jones of Bickerstaff Heath Delgado Acosta of Houston, TX to assist the Agency with litigation involving El Paso.

MWBE Requirements
Mr. Treadwell distributed a letter from the NYS Assembly dated March 17, 2010, and received on May 7, 2010, addressed to all Agency members regarding MWBE compliance in accordance with the Public Authorities Reform Act. It was agreed that this matter would be reviewed with counsel relative to an Agency policy.

Next IDA Meeting
May 24, 2010 at 3:00 p.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Sorbello, seconded by Mr. Daniels, the meeting was adjourned at 10:35 a.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT: Kunzwiler, Rush, Schick, Sorbello and Toth

Absent: Daniels and Ospelt

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

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 May 14, 2010, meeting were approved.

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

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on May 27, 2010.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended May 31, 2010. Following a discussion, counsel was authorized to apply to the court for an Order of Attachment jointly with the Oswego CDO on properties of Oswego Warehousing and Oswego Recycling.

USDA Intermediary Relending Program
The status of the application review process was discussed.

LEEH, LLC
Following a discussion and review of the application, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, financial assistance for construction and machinery and equipment ($252,000) were approved for the LEEH, LLC project. A copy of the Financing Proposal 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 undertake the acquisition, construction and equipping of a certain project, appointing LEEH, LLC agent of the Agency for the purpose of the acquisition, construction and equipping of the project, approving financial assistance in the form of real property tax, mortgage recording tax, sales and use tax exemptions, a loan from the Agency’s EDF in an amount not to exceed $252,000 and authorizing the execution and delivery of an agreement between the Agency and LEEH, LLC. A copy of the Inducement 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 approving a PILOT schedule and authorizing the execution and delivery of certain documents by the Agency in connection with a certain project undertaken at the request of LEEH, LLC. A copy of the PILOT Resolution is attached and made an official part of the minutes.

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

Stevedore Lofts, LLC
Following a discussion and review of the application, 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 Stevedore Lofts, LLC, a New York Limited Liability Company, for use as market rate apartments and commercial office space 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.

MWBE Policy
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a MWBE Policy was adopted. A copy of the MWBE Policy is attached and made an official part of the minutes.

Fulton Thermal Corp.
Mr. Treadwell reported that an allocation of private activity volume cap to the County of Oswego IDA in the amount of $10 million to finance a small issue manufacturing project for Fulton Thermal has been made by Empire State Development.

Lindsey Aggregates/EVM
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, a subordination to Pathfinder Bank to allow for an increase in financing was approved.

Sure-Lock Industries
Following a discussion, on a motion by Mr. Toth, seconded by Mr. Sorbello, a 12-month deferment of principal and interest payments were approved subject to the payment in full of the 2010 PILOT and the pledge of additional security by all owners having greater than 10% ownership.

Great Lakes Veneer
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, an 11-month deferment of principal and interest payments were approved subject to the pledge of additional security by all owners having greater than 10% ownership.

Timberline Hardwood Floors, LLC
Following a discussion and review of the application, on a motion by Mr. Schick, 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 Timberline Hardwood Floors, LLC project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, financial assistance to acquire machinery and equipment ($120,000) was approved for the Timberline Hardwood Floors, LLC project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Indeck
On a motion by Mr. Sorbello, seconded by Mr. Toth, authorization was approved to enter into a confidentiality agreement regarding negotiations relative to an extension of the PILOT Agreement.

St. Luke RHCF
Mr. Treadwell reported that St. Luke wants to refinance its debt to lower costs. Hiscock & Barclay has been asked to assist with a technical problem regarding documents from the prior financing which are needed in order to refinance. On a motion by Mr. Kunzwiler, seconded by Mr. Schick, authorization was approved to execute needed and necessary consents to allow for the refinancing.

Next IDA Meeting
July 12, 2010 at 2:30 p.m. was scheduled.

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

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT: Arthur Ospelt, Gary Toth, Morris Sorbello, Jonathan Daniels and Carolyn Rush

Absent: Donald Kunzwiler and H. Leonard Schick

Also Present: Bruce Phelps, Nancy Bellow, Roy Clark, Lloyd Stemple, George Joyce, Barbara Bateman, Kevin C. Caraccioli, and L. Michael Treadwell

Chair Rush called the special meeting to order at 3:01 p.m. at the offices of the County of Oswego IDA in Oswego, NY.

New York Chocolate and Confections Company, Inc.
On a motion by Mr. Sorbello, seconded by Mr. Ospelt, it was approved to go into Executive Session at 3:06 p.m. to discuss strategies regarding bankruptcy matters involving New York Chocolate and Confections Company, Inc.

On a motion by Mr. Toth, seconded by Mr. Ospelt, the Executive Session ended at 4:21 p.m.

On a motion by Mr. Sorbello, seconded by Mr. Ospelt, it was approved to authorize Agency funding up to $1,000,000 to Operation Oswego County, Inc. for the purposes of bidding in Bankruptcy Court for all of the assets of New York Chocolate and Confections Company, Inc.

ADJOURNMENT
On a motion by Mr. Toth, seconded by Mr. Sorbello, the meeting was adjourned at 4:40 p.m.

Respectfully Submitted,

L. Michael Treadwell
CEO

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

Absent: Ospelt

Also Present: L. Michael Treadwell, David S. Dano and Kevin C. Caraccioli, John Hood, and Steve Yablonski

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

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the minutes of the June 11, 2010, meeting were approved.

On a motion by Mr. Toth, seconded by Mr. Kunzwiler, the minutes of the June 25, 2010 special meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Schick, seconded by Mr. Sorbello, the Financial Statements for the period ended May 31, 2010, were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on June 29, 2010.

Finance Committee Charter
Following a discussion on the establishment of a Finance Committee to comply with the Public Authorities Law, on a motion by Mr. Schick, seconded by Mr. Sorbello, the Finance Committee Charter was approved. A copy of the resolution establishing a Finance Committee Charter and a copy of the Charter are attached and made an official part of the minutes.

Indeck Energy Services of Oswego, Inc.
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, it was approved to go into Executive Session at 2:50 p.m. to discuss financial history of a corporation and information regarding a commercial enterprise which if disclosed would cause substantial injury to the competitive position of the enterprise.

On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the Executive Session ended at 3:40 p.m.

On a motion by Mr. Schick, seconded by Mr. Toth, the CEO and counsel were authorized to communicate with the taxing authorities and the company on matters involving th extension of a PILOT Agreement.

Fulton Thermal Corp.
Following a discussion on the project status, on a motion by Mr. Toth, seconded by Mr. Daniels, a resolution was approved authorizing the issuance and sale of the Issuer’s Industrial Development Revenue Bonds, Series 2010 (Fulton Thermal Corp. Project), in an aggregate principal amount not to exceed $9,825,000 and the execution of related documents. A copy of the Bond Resolution is attached and made an official part of the minutes.

NYS Cost Recovery Assessment (IDA Tax)
Mr. Treadwell reported that the $32,861 paid has been fully reimbursed.

Next Great Idea – 2010 Business Plan Competition
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, it was approved to sponsor the event at the Gold Level of $2,500.

Executive Session
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 4:00 p.m. to discuss information regarding commercial enterprises which if disclosed would cause substantial injury to the competitive position of the enterprise. The following agenca items were authorized: (1) Delinquent Loan Report, (2) Sunoco, Inc., and (3) Stevedore Lofts, LLC.

On a motion by Mr. Sorbello, seconded by Mr. Daniels, the Executive Session ended at 4:45 p.m.

Delinquent Loan Report
Counsel was authorized to communicate with Great Lakes Veneer, and Sure-Lock Industries, regarding plans to commence legal action if the delinquencies are not resolved by July 30, 2010. Counsel was authorized to communicate with Rural Bolt relative to its delinquency.

Sunoco, Inc.
Mr. Treadwell reported that Sunoco’s Ribbon Cutting will be held on Wednesday, July 21, 2010, at 1:00 p.m.

On a motion by Mr. Kunzwiler, seconded by Mr. Daniels, a modification in the assumed PILOT Agreement to establish a minimum of $250,000 was approved.

Stevedore Lofts, LLC
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, a deviation from the UTEP was recognized and the CEO was authorized to respond to the company with a counter proposal that the Agency would consider subject to satisfying compliance requirements of such a deviation.

Next IDA Meeting
July 19, 2010 at 9:00 a.m. and August 23, 2010 at 9:00 a.m. were scheduled.

ADJOURNMENT
On a motion by Mr. Toth, seconded by Mr. Sorbello, the meeting was adjourned at 4:55 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

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

Also Present: L. Michael Treadwell, David S. Dano and Kevin C. Caraccioli
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 19, 2010, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Toth, seconded by Mr. Kunzwiler, the Financial Statements for the period ended June 30, 2010, were approved.

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 31, 2010.

NOTICE OF MEETING
Delinquent Loan Report
Mr. Dano reviewed the report for the period ended July 31, 2010. Discussion was held on Great Lakes Veneer and Sure-Lock Industries. On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, it was approved to extend the loan payment deferment for Great Lakes Veneer and Sure-Lock Industries to January 1, 2011, conditioned upon execution of Confessions of Judgment. Authorization was approved to fund an amount not to exceed $10,000 to conduct an independent study to analyze the companies’ business plan to forecast potential improvement to the business’ outlook. The Agency reserves the right to recover the cost of these studies from any future financing provided to either company.

Fulton Thermal Corp.
On a motion by Mr. Ospelt, seconded by Mr. Daniels, an amended bond resolution was approved authorizing the issuance and sale of the Issuer’s Industrial development Revenue Bonds, Series 2010 (Fulton Thermal Corp. Project), in an aggregate principal amount not to exceed $10,000,000. A copy of the Amended Bond Resolution is attached and made an official part of the minutes.

Caster Properties
Mr. Treadwell reported that the Agency’s loan will be paid in full with the Fulton Savings Bank refinancing.
EDF Interest Rate Policy
Following a review of the April 10, 2007 Policy, and discussion on the proposed revised Policy, on a motion by Mr. Sorbello, seconded by Mr. Toth, the Financing Program Interest Rate Policy was adopted. A copy of the Financing Program Interest Rate Policy is attached and made an official part of the minutes.

Columbia Mills
Mr. Treadwell reported that Tioga Construction has complied with the lease terms for using the site for lock repair work and has removed concrete and cleaned-up the site.

Port of Oswego Authority
Mr. Treadwell reported that a support letter for a U.S. DOT TIGER II grant application was provided. Mr. Daniels reviewed the scope of the expansion project that would be a modernization of the Port’s bulk facilities.

O.H. Properties – Mexico
Following a discussion regarding the Harbor Lights project, on a motion by Mr. Ospelt, seconded by Mr. Toth, counsel was authorized to prepare documents for a release of part parcel for the Harbor Lights project.

Buttolph Lumber Co., Inc.
Following a discussion and review of the loan application, on a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Buttolph Lumber Co., 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. Ospelt, seconded by Mr. Sorbello, the financial assistance for the acquisition of real property ($158,000) was approved for the Buttolph Lumber Co., Inc. Project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

St. Francis Commons ALP Facility
Following a discussion on the proposed St. Francis Commons ALP Facility 60-bed project in the City of Oswego and a review of financing requirements necessary for the NYS DOH HEAL Grant application, on a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, authorization to issue a letter of intent for an amount up to $500,000 for a loan to be included in the application was approved.

Next IDA Meeting
September 16, 2010 at 2:00 p.m. was scheduled.

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

Respectfully Submitted,
L. Michael Treadwell
CEO

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

Absent: Ospelt

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

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. Kunzwiler, seconded by Mr. Toth, the minutes of the August 23, 2010, meeting were approved.

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

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on September 2, 2010.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended August 31, 2010.

Sure-Lock Industries/Great Lakes Veneer
Chair Rush reported that JC Jones & Associates had been retained to conduct an independent assessment of the companies. Mr. Treadwell reported that the study would be completed within a week, and that a special meeting will be established for reporting purposes.

Sunoco, Inc.
Following a discussion and review of the application, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, a resolution was approved determining that the acquisition, reconstruction, renovation and equipping of a commercial facility at the request of Sunoco, Inc. for use in the production of ethanol 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 copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

G&S Broadwell, Inc.
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the PILOT EDF financing for the Best Western Conference Center project in the amount of $500,000 was approved to be extended to September 30, 2011.

Stevedore Lofts, LLC
On a motion by Mr. Daniels, seconded by Mr. Sorbello, a resolution was approved to undertake the acquisition, reconstruction, renovation and equipping of a certain project; appointing Stevedore Lofts, 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; and authorizing the execution and delivery of an agreement between the Agency and Stevedore Lofts, LLC. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency. A copy of the Inducement Resolution is attached and made an official part of the minutes.

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

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

RGC-SRE Oswego Acquisition, LLC
On a motion by Mr. Toth, seconded by Mr. Kunzwiler, the HUD EDF financing for the Seaway Lofts project in the amount of $300,000 was approved to be extended to August 31, 2011.

ESDC Notification of Initial Allocation – 2010
Attached and made an official part of the minutes is a copy of the Notification of Initial Allocation for 2010.

Hillside Commons, LLC
Following a discussion and review of the loan application, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Hillside Commons, 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 the construction of a Social Security Administration Office Complex ($250,000) was approved for the Hillside Commons, LLC Project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

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

On a motion by Mr. Schick, seconded by Mr. Sorbello, the financial assistance for the construction and renovations ($100,000) was approved for the Woodruff Block, LLC Project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Oswego County Civic Facilities Corporation
Following a discussion, on a motion by Mr. Daniels, seconded by Mr. Toth, authorization was approved to request the County Legislature to establish a development corporation under 1411 of the NYS Not-for-Profit Law for the sole purpose of issuing Civic Facility bonds for eligible 501c(3) organizations. The IDA Board would be proposed to also serve as the Board for the Oswego County Civic Facilities Corporation.

USDA IRP Application
Following a discussion on required documents to close on the USDA IRP funding, Mr. Caraccioli reported that an opinion letter had been submitted to USDA regarding the Agency’s good standing to conduct business. On a motion by Mr. Daniels, seconded by Mr. Schick, a resolution was also approved certifying that the Agency is in good standing and is in compliance with all NYS requirements relative to the PAL.

Columbia Mills
Mr. Treadwell reported that there is a flooding problem associated with beavers. Authorization was approved to remedy.

Teleconferencing
Following a discussion, on a motion by Mr. Kunzwiler, seconded by Mr. Schick, authorization was approved to procure an appropriate system for use as needed for IDA meeting. Procurement will be in compliance with the Agency’s Procurement Policy.

HUD Interest
Mr. Treadwell reported that an overpayment of interest for 2009 was made to HUD. It was agreed that a correction will be made per the suggestion of the Agency’s accountants when the 2010 payment is wired to HUD. This will be included as a note in the audit report.

Next IDA Meeting
September 24, 2010 at 9:00 a.m. was scheduled. October 15, 2010 at 9:00 a.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the meeting was adjourned at 3:50 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT: Kunzwiler, Ospelt, Schick, Sorbello and Toth

Absent: Daniels and Rush

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

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.

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 18, 2010.

Sure-Lock Industries/Great Lakes Veneer
On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 9:05 a.m. to discuss financial history of the corporations and information regarding commercial enterprises which, if disclosed, would cause substantial injury to the competitive positions of the enterprises.

On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the Executive Session ended at 10:35 a.m.

On a motion by Mr. Ospelt, seconded by Mr. Schick, the draft JC Jones & Associates, LLC report was accepted and authorized to be filed as an internal report. On a motion by Mr. Ospelt, seconded by Mr. Sorbello, authorization was approved to have an appraisal conducted for the secured equipment at Great Lakes Veneer.

Oswego Warehousing, Inc.
On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 10:45 a.m. to discuss matters regarding current litigation.

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

Mr. Caraccioli reported that the Court has extended the Restraining Order until October 20, 2010.

Columbia Mills
Mr. Treadwell reported on the flooding associated with beavers on the Columbia Mills site. Efforts will continue on helping to remedy the situation.

Next IDA Meeting
October 15, 2010 at 9:00 a.m. was scheduled.

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

Respectfully Submitted,

H. Leonard Schick
Secretary

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

Absent: Schick

Also Present: L. Michael Treadwell, David S. Dano, Kevin C. Caraccioli, Robert B. Liddell, Karen Hall and Frederick Wall

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 September 16 and September 24, 2010, meetings 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 October 1, 2010.

Chair Rush reported that there was need to go into Executive Session on several agenda items due to matters involving litigation, the proposed acquisition of real property sensitive to publicity, and the financial history of corporations and information regarding commercial enterprises which, if disclosed, would cause substantial injury to the competitive positions of the enterprises.

Chair Rush asked those in attendance if they had any specific comments to make before the Executive Session. No comments were made. Chair Rush informed those in attendance that they could return following the Executive Session.

Fulton Cogeneration Associates, Delinquent Loan Report and MiniMill Development, LLC
On a motion by Mr. Daniels, seconded by Mr. Toth, it was approved to go into Executive Session at 9:10 a.m. to review with Mr. Liddell litigation regarding the Fulton Cogeneration Associates/El Paso matter. Mr. Liddell left the meeting at 9:40 a.m.

Mr. Dano reviewed the Delinquent Loan Report for the period ended September 30, 2010.

A discussion was held on the MiniMill Development, LLC project.

On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the Executive Session ended at 10:30 a.m. Mr. Sorbello reported that Ms. Hall and Mr. Wall had left.

Joanne and Robert Galini
It was agreed to retain a collection agency to attempt to collect the balance of the debt due.

KLG Transport/Goppert
It was agreed that the $3,112.93 balance should be considered as uncollectible bad debt due to the Bankruptcy Discharge.

MiniMill Development, LLC
On a motion by Mr. Toth, seconded by Mr. Ospelt, a resolution was approved confirming official action with respect to a project to provide financing assistance to a manufacturing facility at the request of MiniMill Development, LLC. A copy of the Ratifying and Reconfirming Resolution is attached and made an official part of the minutes.

County of Oswego IDA Annual Report FY Ended 7/31/10
Following a review of the Annual Report, on a motion by Mr. Kunzwiler, seconded by Mr. Daniels, 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.
On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, a resolution was approved classifying the acquisition, reconstruction, renovation and equipping of a certain project and approving financial assistance in the form of sales and use tax exemptions 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.

On a motion by Mr. Daniels, seconded by Mr. Ospelt, a resolution was approved undertaking the acquisition, reconstruction, renovation and equipping of a certain project; appointing Sunoco, Inc., Agent of the Agency for the purpose of the acquisition, reconstruction, renovation and equipping of the project; approving financing assistance in the form of sales and use tax exemptions; and authorizing the execution and delivery of an agreement between the Agency and Sunoco, Inc. A copy of the Inducement Resolution is attached and made an official part of the minutes.

Whitewater Commons
It was reported that a legal matter relative to a street was being reviewed as to its tax status.

Oswego County Civic Facilities Corporation
Mr. Sorbello reported that the Oswego County Legislature approved a resolution at its October 14, 2010 meeting for the incorporation of the Oswego County Civic Facilities Corporation. All members of the IDA were appointed to the OCCFC except for County Legislators (Sorbello and Ospelt). County Administrator Phil Church and County Treasurer John Kruk were appointed.

Fulton Thermal Corp.
It was reported that the Agency closed on the $10 million bond financing on September 29, 2010.

G&S Broadwell, Inc./Best Western Hotel and Conference Center
It was reported that the Agency closed on the S/L Transaction for the project on September 30, 2010.

Wire Road, LLC
On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, a resolution was approved classifying the acquisition, renovation and equipping of a certain project at the request of Wire Road, LLC 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.

On a motion by Mr. Toth, seconded by Mr. Ospelt, a resolution was approved undertaking the acquisition, renovation and equipping of a certain project, appointing Wire Road, LLC Agent of the Agency for the purpose of the acquisition, renovation and equipping of the project, approving financial assistance in the form of real property tax, mortgage recording tax, sales and use tax exemptions, a loan from the Agency’s EDF in an amount not to exceed $350,000 and authorizing the execution and delivery of an agreement between the Agency and Wire Road, LLC. A copy of the Inducement Resolution is attached and made an official part of the minutes.

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

Bishop’s Commons and St. Luke RHCF
It was reported that the re-conveyance of title associated with the prior Civic Facilities Bond financing is in process.

Next IDA Meeting
October 22, 2010, at 2:00 p.m. was scheduled. November 16, 2010, at 1:00 p.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Toth, seconded by Mr. Ospelt, the meeting was adjourned at 11:15 a.m.

Respectfully Submitted,

L. Michael Treadwell
CEO

PRESENT: Daniels, Kunzwiler, Ospelt, Sorbello and Toth

Absent: Rush and Schick

Also Present: L. Michael Treadwell, Kevin C. Caraccioli, Roger Beer, and Dave Schermerhorn.

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

APPROVAL OF MINUTES
On a motion by Mr. Daniels, seconded by Mr. Kunzwiler, the minutes of the October 15, 2010, meeting were approved.

TREASURER’S REPORT
On a motion by Mr. Ospelt, seconded by Mr. Sorbello, the Financial Statements for the period ended August 31, 2010, were approved.

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on October 19, 2010.

Audit FY Ended 7/31/10
Mr. Beer of Green & Seifter CPAs, PLLC presented the County of Oswego IDA Audit Report Presentation. Following a discussion, on a motion by Mr. Sorbello, seconded by Mr. Ospelt, the Audit Report was approved.

Public Authorities Training
Mr. Treadwell reported that the Oswego County Tobacco Asset Securitization Corporation has scheduled a Public Authorities Act training for October 29, 2010, and IDA members could participate. Mr. Treadwell requested notification if any Agency member was going to attend the training.

USDA Guarantee Program
Mr. Schermerhorn of USDA provided an overview of the USDA Guarantee Program and how it could potentially work with the IDA’s lending program. Following a discussion, on a motion by Mr. Daniels, seconded by Mr. Sorbello, authorization was approved to submit a request to the USDA for consideration to be classified as a Non-Traditional Lender for the USDA Guarantee Program.

Columbia Mills
Mr. Treadwell reported that it was determined that the flooding was not beaver related. The water level on IDA property had dropped and that the water was flowing. It was noted that the water level remained high on the north side of Route 42.

Fulton Cogeneration Associates
On a motion by Mr. Kunzwiler, seconded by Mr. Daniels, it was approved to go into Executive Session at 3:15 p.m. to review via teleconferencing litigation regarding the FCA/El Paso matter with Robert Liddell of Hiscock & Barclay.

On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the Executive Session ended at 3:50 p.m.

Ongoing negotiations with settlement issues and matters involving the deposition were authorized.

Next IDA Meeting
November 16, 2010, at 1:00 p.m. is scheduled.

ADJOURNMENT
On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the meeting was adjourned at 4:10 p.m.

Respectfully Submitted,

L. Michael Treadwell
CEO

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

Absent: Daniels

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

Chair Rush called the meeting to order at 11:00 a.m. at the offices of the County of Oswego IDA in Oswego, NY. Chair Rush reported that due to matters involving litigation and information regarding commercial enterprises which, if disclosed, would cause substantial injury to the competitive positions of the enterprises, there was a need to go into Executive Session. Chair Rush noted that due to scheduling conflicts, there was a need to advance the Executive Session, and that the regularly scheduled meeting would begin as noticed at 1:00 p.m.

Executive Session
On a motion by Mr. Ospelt, seconded by Mr. Toth, it was approved to go into Executive Session at 11:05 a.m. to review matters associated with the Fulton Cogeneration Associates, the Delinquent Loan Report for the period ended October 31, 2010, and financing for Kleis Equipment, LLC.

On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, the Executive Session ended at 1:05 p.m.

Chair Rush called the meeting to order at 1:05 p.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the minutes of the October 22, 2010, meeting were approved.

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

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on November 2, 2010.

Delinquent Loan Report
On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, authorization was approved for counsel to retain a collection agency or a law firm that specializes in debt collection to assist with problem loans, if needed.

On a motion by Mr. Kunzwiler, seconded by Mr. Schick, authorization was approved to commence with legal action on the defaulted PILOT and delinquent loan associated with Sure-Lock Industries, LLC.

It was agreed that the Agency would continue to work with Great Lakes Veneer, the banks, and potentially USDA to develop options to assist in restructuring financing. An appraisal of the assets has been ordered.

It was reported that a trustee overseeing the U.S. Bankruptcy Court action of Hacketts (WiseBuys) has filed a motion to convert the action from Chapter 11 to Chapter 7.

Fulton Cogeneration Associates
Ongoing settlement negotiations continue with El Paso.

PAL – Cost Recovery System
Mr. Treadwell reported that the Agency has received its notification from the NYS Division of the Treasury that the Section 2975-A assessment is $39,709.81. Payment is due by March 31, 2011. Authorization was approved to challenge using “Provision for Uncollectible Loans” in the amount of ($260,758) in the calculation. A discussion was held on potential litigation again in cooperation with the NYSEDC to have the IDA Tax repealed.

Application for the IDA EDF Program
Mr. Treadwell distributed a copy of the updated and revised financing application.

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

On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, the financial assistance for the construction ($75,000) was approved for the Kleis Equipment, LLC Project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Annual Board of Directors Evaluation
The Authorities Budget Office Policy Guidance on the Annual Board of Directors Evaluation was reviewed and the Confidential Evaluation of Board Performance form was provided.

Next IDA Meeting
December 8, 2010, at 8:30 a.m. was scheduled.

ADJOURNMENT
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the meeting was adjourned at 1:50 p.m.

Respectfully Submitted,

H. Leonard Schick
Secretary

PRESENT: Kunzwiler, Rush, Sorbello and Toth

Absent: Daniels, Ospelt and Schick,

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

Chair Rush called the meeting to order at 8:30 a.m. at the offices of the County of Oswego IDA in Oswego, NY.

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the minutes of the November 16, 2010, meeting were approved.

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

NOTICE OF MEETING
Meeting notices were posted at the Oswego County Building, the IDA Office Building, and on the IDA website. A notice was published in The Palladium Times on November 23, 2010.

Delinquent Loan Report
Mr. Dano reviewed the report for the period ended November 30, 2010.

Fulton Cogeneration Associates
Mr. Caraccioli provided an update on the settlement negotiations with El Paso. On a motion by Mr. Kunzwiler, seconded by Mr. Sorbello, the settlement agreement dated November 22, 2010, was accepted and counsel and the CEO were authorized to finalize necessary documents.

Glenn Donnelly Partners, LLC
Following a discussion and review of the application, on a motion by Mr. Toth, seconded by Mr. Kunzwiler, a resolution was approved determining that the acquisition, construction, reconstruction, renovation and equipping of a commercial facility at the request of Glenn Donnelly Partners, LLC for use as a ¾ mile auto speedway racing facility constitutes a project; describing the financial assistance requested in connection therewith and authorizing a public hearing. A copy of the Initial Resolution is attached and made an official part of the minutes.

Majestic Mold & Tool
Mr. Treadwell reported that a PR event would be held at the plant as it was the first direct loan made by the IDA approximately 25 years ago.

Hillside Commons, LLC
Mr. Caraccioli reported that the company wishes to utilize a newly created LLC, Fourth Avenue, LLC, to be the borrower. On a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, the request was approved.

Annual Board of Directors Evaluation
The summary report was provided from the Governance Committee and authorization was approved to submit the report as amended to the NYS ABO. Chair Rush reported that a few items identified would be focused on in 2011.

Fulton Tool Co., Inc.
Following a discussion and review of the financing application, on a motion by Mr. Kunzwiler, seconded by Mr. Toth, 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 Fulton Tool Co., 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. Sorbello, seconded by Mr. Kunzwiler the financial assistance for the acquisition of equipment ($99,500) was approved for the Fulton Tool Co., Inc. Project. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

USDA IRP
On a motion by Mr. Toth, seconded by Mr. Kunzwiler, an authorizing resolution was approved for the USDA IRP closing. A copy of the USDA IRP Resolution is attached and made an official part of the minutes.

Sure-Lock Industries
Following a review of a proposed Joint Workout Plan, no action was taken.

Healthway Home Products, Inc.
Following a discussion and review of the financing application, on a motion by Mr. Sorbello, seconded by Mr. Kunzwiler, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Healthway Home Products, 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 working capital ($425,000) was approved and a public hearing was authorized. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

Oswego County Civic Facilities Corporation (OCCFC)
Mr. Treadwell reported that the County Attorney had filed the Certificate of Incorporation and By-Laws and copies had been sent to the Board Members. It was agreed to schedule an organizational meeting of the OCCFC prior to the next scheduled IDA meeting.

Next IDA Meeting
December 16, 2010, at 2:00 p.m. for OCCFO and 2:30 p.m. for the IDA were scheduled.

ADJOURNMENT
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the meeting was adjourned at 9:50 p.m.

Respectfully Submitted,

L. Michael Treadwell
Chief Executive Officer

PRESENT: Kunzwiler, Ospelt, Rush, Schick and Toth

Absent: Daniels and Sorbello

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

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

APPROVAL OF MINUTES
On a motion by Mr. Kunzwiler, seconded by Mr. Toth, the minutes of the December 8, 2010, 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 10, 2010.

Delinquent Loan Report
No report.

Fulton Cogeneration Associates
On a motion by Mr. Kunzwiler, seconded by Mr. Ospelt, it was approved to assign in full the judgments associated with Lion Capital Management and others to EPME-PC.

Sabona’s Café, Inc.
Following a discussion and review of the financing application, on a motion by Mr. Ospelt, seconded by Mr. Schick, a resolution was adopted classifying the project as an unlisted action, declaring the County of Oswego IDA the Lead Agency for purposes of an uncoordinated review pursuant to the SEQRA and determining that the financial assistance for the Sabona’s Café, 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. Kunzwiler, seconded by Mr. Schick, the financial assistance for working capital ($25,000) was approved. A copy of the Financing Proposal Summary and Cost/Benefit Analysis is on file at the Agency.

The Wall Climbing Center, LLC
On a motion by Mr. Schick, seconded by Mr. Toth, the financing application was tabled.

Top This Pizza
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 Top This Pizza Project will not have a significant effect on the environment. A copy of the Negative Declaration is on file at the Agency.

On a motion by Mr. Ospelt, seconded by Mr. Schick, the financial assistance for 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.

Audit for FY Ending July 31, 2011
On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, the proposal submitted by Green & Seifter, CPAs, PLLC dated November 30, 2010, was accepted.

Oswego County Civic Facilities Corporation
Mr. Treadwell reported that the organizational meeting was held.

USDA IRP
On a motion by Mr. Toth, seconded by Mr. Schick, it was approved to obtain a Fidelity Bond in the amount of $750,000 through Eastern Shore Associates from The Travelers. The Fidelity Bond is required by USDA.

Operation Oswego County, Inc./Administrative Services Agreement
Following a discussion relative to increasing services needed to address PAL, financing programs including the IRP and OCCFC, on a motion by Mr. Schick, seconded by Mr. Kunzwiler, a $25,000 adjustment was authorized beginning in 2011.

Executive Session
On a motion by Mr. Schick, seconded by Mr. Kunzwiler, it was approved to go into Executive Session at 4:00 p.m. to review matters associated with Sure-Lock Industries involving information which, if disclosed, would cause substantial injury to the competitive position of the enterprise.

On a motion by Mr. Ospelt, seconded by Mr. Kunzwiler, the Executive Session ended at 4:30 p.m.

Sure-Lock Industries
Authorization was approved to continue efforts regarding a Joint Workout Plan.

Next IDA Meeting
To be determined.

ADJOURNMENT
On a motion by Mr. Toth, seconded by Mr. Ospelt, the meeting was adjourned at 4:40 p.m.