COUNTY OF SULLIVAN INDUSTRIAL DEVELOPMENT AGENCY
One Cablevision Center
Ferndale, New York 12734
(845) 295-2603 – telephone
(845) 295-2604 – fax
RECONVENED
MEETING MINUTES
Tuesday, December 22, 2010
I. CALL TO ORDER
Chairman Wood called to order the regular meeting of the County of Sullivan Industrial Development Agency at approximately 10:00 A.M., which was held in the Legislative Committee Room at the Sullivan County Government Center, Monticello, New York.
II. ROLL CALL
Members Present
Elwin Wood
Charles Barbuti
Cindy Garlinghouse
Harold Gold
Harris Alport
Steve White
Members Absent
Edward Sykes
Raymond Walter
Suzanne Loughlin
Staff Present
Elizabeth A. Hunt, Exec. Assistant
Staff Absent
Jennifer C.S. Brylinski, Exec. Dir.
Others Present-
Allan C. Scott, ALSCO Management, Inc. /Consultant /IDA CEO
Walter F. Garigliano, Esq., Agency Legal Counsel
Tara Lewis, Garigliano Law Offices
Dan Hust, Sullivan County Democrat
III. APPROVAL OF MINUTES
None
IV. BILLS AND COMMUNICATIONS
None
V. EXECUTIVE DIRECTOR’S REPORT
None
VI. OLD BUSINESS
Mr. Garigliano reminded the Board that the IDA currently has two loan programs; the Main Street Façade Loan Fund and the Revolving Loan Fund. He went on to say that it is anticipated that there will be three additional loan funds; the $500,000 RMAP Grant Loan Fund, which to date the IDA is still awaiting approval of the grant; a loan fund which will be funded by the re-payment of the Catskill Distilling Equipment Lease payment; and the proposed Millennium Pipeline Program. Chairman Wood then appointed Mr. Barbuti, Mr. Alport, Mr. White and Mr. Gold to a committee to research and discuss the conception of the Millennium Pipeline Fund. All Board members that were appointed by Chairman Wood accepted.
Mr. Garigliano presented to the Board a resolution extending the sales tax abatement period for the Poley Paving Corporation and BYRNN DYL, LLC (collectively, “Poley Paving”) project from January 1, 2011 through and including June 30, 2011. The extension was requested by Poley Paving because they are beginning the construction phase of the second building and office as originally contemplated. On a motion by Mr. Barbuti, seconded by Mr. Alport, the Board voted and the resolution was unanimously passed.
Mr. Garigliano presented to the Board a resolution approving the 4th quarter 2010 payment in the amount of $18,750.00 to the Partnership for Economic Development. On a motion by Mr. Barbuti, seconded by Mr. Gold, the Board voted and the resolution was unanimously passed.
VII. NEW BUSINESS
Mr. Garigliano presented to the Board a resolution authorizing and approving the IDA’s consent to a consolidation of Mamma Says N.Y., Inc. and Kinnelon Properties, LLC (collectively “Mamma Says”) with and into Nonni’s Acquisition Co., Inc., (“NAC”) with NAC being the surviving company as well as the execution of the documents necessary to complete the transaction. On a motion by Mr. Barbuti, seconded by Mr. Gold, the Board voted and the resolution was unanimously passed.
Additionally in connection with NAC, Mr. Garigliano presented to the Board a resolution which authorizes and approves the IDA’s consent to a change in control of NAC to Wind Point Partners and authorizes the execution and delivery of the documents necessary to complete the transaction. On a motion by Mr. Alport, seconded by Ms. Garlinghouse, the Board voted and the resolution was unanimously passed. There was a brief discussion regarding the transaction.
Mr. Garigliano advised the Board that there will more than likely be an organizational meeting of the newly formed Sullivan County Funding Corporation, which will be held early in the new year.
Mr. Scott suggested to Chairman Wood that a Chairman be appointed to the Millennium Pipeline Loan Committee. Chairman Wood appointed Mr. Gold.
Mr. Barbuti reminded the Board that if they have not already done so, to please forward their Board Evaluations to Ms. Brylinski.
VIII. ADJOURNMENT
Chairman Wood questioned the Board and those present if there were any further questions or comments. There being none, on a motion by Ms. Garlinghouse, seconded by Mr. Gold, the Board voted and the meeting was adjourned at approximately 10:16 A.M.
Respectfully submitted:
Elizabeth A. Hunt
Executive Assistant