COUNTY OF SULLIVAN INDUSTRIAL DEVELOPMENT AGENCY
One Cablevision Center
Ferndale, New York 12734
(845) 295-2603 – telephone
(845) 295-2604 – fax
Friday, July 13, 2012
I. CALL TO ORDER
Chairman Steingart called to order the rescheduled meeting of the County of Sullivan Industrial Development Agency at approximately 10:01 A.M., which was held in the Legislative Committee Room at the Sullivan County Government Center, Monticello, New York.
II. ROLL CALL
Members Present- Members Absent-
Ira Steingart Charles Barbuti
Staff Present- Staff Absent-
Elizabeth A. Hunt, Exec. Assistant Jennifer C.S. Brylinski, Exec. Dir.
Walter F. Garigliano, Esq., Agency Legal Counsel
Tara Lewis, Garigliano Law Offices
Scott Samuelson, Sullivan County Legislator
Cora Edwards, Sullivan County Legislator
Jennifer Mall, SC Planning Department Agriculture Planner
Dan Hust, Sullivan County Democrat
(Please note that not all attendees were present for the entire meeting)
III. APPROVAL OF MINUTES
Mr. Sykes made a motion to jointly approve the minutes of the June 12, 2012 regular meeting and the June 26, 2012 reconvened meeting. The motion was seconded by Ms. Loughlin, the Board voted and the motion was unanimously carried.
IV. BILLS AND COMMUNICATIONS
Mr. Sykes made a motion to approve the revised schedule of payments, the motion was seconded by Mr. Rieber, the Board voted and the motion was unanimously carried.
V. EXECUTIVE DIRECTORS’ REPORTS
Ms. Brylinski was not in attendance so Ms. Hunt wished to advise the Board that since the last meeting six loans have closed. Two of the loans were from the Millennium RLF and the other four were RMAP loans. Mr. Garigliano thanked Mr. Gold for attending the closings and signing documents on behalf of the IDA and SCFC.
VI. OLD BUSINESS
VII. NEW BUSINESS
Mr. Garigliano advised the Board that the resolution regarding Loughlin & Billig PC that was on the agenda will be tabled until a later date. He explained that even though the requirement of a Cost/Benefit Analysis (“CBA”) is no longer required by law it is still a policy of the IDA. The CBA, which is being compiled by Tom Shepstone, was not yet complete so therefore the resolution was not being presented. There was a brief discussion regarding, among other things, the purchase price versus the value of the building and the condition of the building. It was unanimously agreed by the Board that the current meeting will be recessed and the reconvened meeting will be held on Wednesday, July 18, 2012 at 1 P.M. at the SC Government Center in the Legislative Committee Room. Chairman Steingart commented on the project by saying that it is important for businesses to stay in Sullivan County. Mr. Rieber asked if Mr. Scott could be brought into the loop to see if a commercial business could be placed in the building that will be left vacant when Zager Law Offices moves.
Mr. Garigliano passed out to the Board a resolution authorizing and approving the execution and delivery of a mortgage in an amount not to exceed $300,000 and related documents in favor of Ally Bank (Ally Capital in Hawaii, Mississippi, Montana and New Jersey), relating to the MBM Enterprises, LLC and M&M Automotive , Inc. project. Mr. Garigliano gave a brief background to the Board on how economy for the past several years has affected the car industry. On a motion by Mr. Rieber, seconded by Mr. White, with Mr. Sykes abstaining, the Board voted and the resolution was passed.
Mr. Garigliano passed out to the Board a resolution authorizing and approving a RMAP loan to ND Pro Media Inc. in the amount of $25,000. Mr. Alport commented that whenever possible he would like to have the recipients of the IDA’s loans to attend the IDA meetings. On a motion by Ms. Loughlin, seconded by Ms. Shaddock, the Board voted and the resolution was unanimously passed.
Chairman Steingart asked if there was any public comment.
Ms. Burton made a general comment regarding Sullivan County.
Mr. Garigliano asked if an executive session be called
to discuss a possible litigation matter regarding the
457 Equities LLC project. One a motion by Ms. Loughlin,
seconded by Ms. Shaddock, the Board voted and unanimously agreed to go into executive session at approximately 10:30 A.M. Please note that Legislator Samuelson stayed for the executive session.
On a motion by Mr. Gold, seconded by Ms. Loughlin
the Board unanimously voted to come out of executive
session at approximately 10:50 A.M.
VIII. ADJOURNMENT (Recess)
There being neither any further public comment nor comment by the Board, Chairman Steingart asked for a motion to recess the meeting. On a motion by Mr. Gold, seconded by Mr. Alport, the Board voted and the meeting was recessed at approximately 10:51 A.M.
Elizabeth A. Hunt