COUNTY OF SULLIVAN INDUSTRIAL DEVELOPMENT AGENCY
One Cablevision Center
Ferndale, NY 12734
(845) 295-2603
Meeting Agenda
Friday, February 25, 2011 – 10:00AM
Sullivan County Government Center, Legislative Committee Room
100 North Street, Monticello, New York 12701
RECONVENED MEETING
I. Call to Order
II. Roll Call
III. Old Business
JEFFERSON DEVELOPMENT PARTNERS MORTGAGE – Resolution authorizing the execution and delivery of that certain note and mortgage modification agreement of an existing loan in an amount not to exceed $15,000,000 to United States Trust Company, National Association (n/k/a Bank of America, N.A., its successor in interest) for the benefit of Jefferson Development Partners LLC, and Monticello Motorsports LLC.
JEFFERSON DEVELOPMENT PARTNERS, SPECIAL COUNSEL – Resolution appointing Steven Vegliante, as special agency counsel in connection with the extension of the Jefferson Development Partners LLC, James Madison Development Partners LLC, n/k/a Monticello Motorsports LLC and Jefferson Pride Development Partners LLC (collectively, the “company”) appointment as agent of the agency to facilitate the acquisition, construction, installation and equipping of the company’s project.
JEFFERSON DEVELOPMENT PARTNERS EXTENDING APPPOINTMENT AND SALES TAX ABATEMENT – Resolution authorizing the execution and delivery of a fourth omnibus amendment to project documents to extend the agency’s appointment of the Jefferson Development Partners LLC, and its affiliates as agent of the agency from January 1, 2011 through and including December 31, 2012 to facilitate the acquisition, construction, installation and equipment of the project and grant sales tax exemption benefits to the company nunc pro tunc from January 1, 2011 through and including December 31, 2012.
POLEY PAVING MODIFICATION AND EXTENSION – Resolution authorizing and approving the execution and delivery of a mortgage modification and extension and related documents in favor of Catskill Hudson Bank relating to the Poley Paving Corporation and Brynn Dyl, LLC project.
PARAMOUNT TERMINATION – Authorizing and approving the execution and delivery by the agency’s chairman and chief executive officer of a deed, bill of sale and related documents conveying real and personal property located in the Town of Liberty, County of Sullivan, State of New York (identified on the Town of Liberty tax map as section 6, block , lots 26, 27, 28 and 30 and section 7, block 3, lot 2) from the agency to Paramount Realty Associates LLC, and recorded with the office of the clerk of Sullivan County.
PINE BUSH TERMINATION – Authorizing and approving the execution and delivery by the agency’s chairman and chief executive officer of a deed and related documents conveying real and personal property located in the Town of Liberty, County of Sullivan, State of New York (identified on the Town of Liberty tax map as section 41, block 1, lots 33, 34, 35.1 and 35.2) from the agency to Pine Bush Equipment Company, Inc. and BTH Properties LLC, and recorded with the office of the clerk of Sullivan County.
IV. New Business
Discussion: Status of PILOT payments.
Any and All Other Business before the Board.
Notes: Board Members please call if you are unable to attend. Thanks!