COUNTY OF SULLIVAN INDUSTRIAL DEVELOPMENT AGENCY
One Cablevision Center
Ferndale, New York 12734
(845) 295-2603 – telephone
(845) 295-2604 – fax
REGULAR MEETING MINUTES
Monday, September 14, 2015
I. CALL TO ORDER
Chairman Steingart called to order the regular meeting of the County of Sullivan Industrial Development Agency at approximately 11:02 am, in the Legislative Committee Room at the Sullivan County Government Center, Monticello, New York.
II. ROLL CALL
Members Present- Members Absent-
Ira Steingart Suzanne Loughlin
Charlie Barbuti Howard Siegel
Carol Roig Sean Rieber
Staff Present- Staff Absent-
Jennifer C.S. Brylinski, Exec. Director Jen Flad, VP Business
Jeanne McKean, Project Manager
Steve White, Agency CEO
Walter F. Garigliano, Esq., Agency Legal Counsel
Tara Lewis, Garigliano Law Offices
Star Hesse, Sullivan County Resident
George Duke, Esq., Monticello Raceway Management Inc./ Montreign Operating Company, LLC
Charles Degliomini, Monticello Raceway Management Inc./ Montreign Operating Company, LLC
Michael Fogel, Esq., Monticello Raceway Management Inc./ Montreign Operating Company, LLC
III. APPROVAL OF MEETING MINUTES
Mr. Guenther made a motion to approve the minutes of the August 10, 2015, regular meeting. Mr. Barbuti seconded the motion, the Board voted and the minutes of the meetings were unanimously approved.
IV. BILLS AND COMMUNICATIONS
Mr. Guenther made a motion to approve the revised schedule of payments. Mr. Barbuti seconded the motion, the Board voted and the revised schedule of payments was unanimously approved.
V. DIRECTOR’S REPORTS
Jennifer C.S. Brylinski, Executive Director
Ms. Brylinski reported that the First National Bank of Jeffersonville was requesting specific language be added to the minutes to reflect the names of the four signers in addition to their titles which were previously updated. Mr. Sykes recused himself as a current Board Member of the First National Bank of Jeffersonville. As such, a quorum was not present in order to approve the change.
VI. OLD BUSINESS
George Duke provided an update and review of the Montreign Enhanced Project Amendments request. He stated that the project had revised its plans to increase its anticipated minimum total capital investment in the Project by approximately $150 million for a total capital investment of approximately $600 million. The Enhanced Project will expand the size of the gaming floor and hotel rooms, redesign non-gaming portions, and remove the harness horse racetrack. The Company has already obtained the necessary environmental and land use approvals for the Enhanced Project from the Town. He requested that the IDA Project Documents be modified to align with the new Enhanced Project.
Mr. Barbuti questioned whether the new enhanced project still met all the requirements of the IDA’s UTAP for the Destination Resort Program. The answer was yes; they are in excess of those requirements.
Charles Degliomini thanked the IDA for all their help in making this project a reality. He stated that it would have been a much lesser project without their assistance.
Attorney Garigliano outlined the revisions to the Montreign financial proposals to accommodate the Enhanced Alternative, which had been worked on by CEO Steve White and board member Howard Siegel. Basically there were three revisions: The Agency Annual Fee would be increased from $125,000 up one third to approximately $166,250, the Upfront Fee would be increased from $250,000 up one third to approximately $332,500, and the total value subject to PILOT would increase from $53,500,000 to $65,000,000.
Attorney Garigliano asked the Board if they were comfortable with accepting these recommendations as previously distributed by him and Mr. Siegel. The Board was in favor and Attorney Garigliano advised that a resolution would be provided for review within the next day or so. Attorney Garigliano also reported that a resolution should be finalized within the next few days for Veria Lifestyle.
Additionally, he stated that an application from Monticello Motor Club would be forthcoming for review. This application would be for 40 additional garage spaces and that it would be for sales tax exemption only. The existing cost/benefit analysis and SEQR have been previously approved, and no public hearing would be required. Lastly, he stated that we should anticipate an application from Farm Stock. This is a project for an indoor fully climate controlled greenhouse and is facilitated by HVADC.
Resolution for Partnership Third Quarter Payment was tabled as a quorum was not present, Mr. Sykes recusing himself saying that he is on the Partnership Board.
VII. NEW BUSINESS
Mr. Barbuti gave a quick overview of the proposed revisions to the IDA Governance Committee Policy as approved by the IDA Governance Committee in July. Mr. Guenther made a motion to approve the IDA Governance Committee Policy Amendments, which was seconded by Chairman Steingart. The Board voted and the Amendments were unanimously approved.
VIII. PUBLIC COMMENT AND RECESS
Chairman Steingart asked the Board and others present for public comment.
With respect to the operation of the Red Meat Facility, Star Hesse wanted an update and was advised that the Agency was still in negotiations at this time and no information could be released.
There being no other public comment, on a motion by Mr. Barbuti and seconded by Mr. Guenther, the meeting was recessed at approximately 11:30 am, until Friday, September 18, 2015, at 3 PM in this same place.
Jeanne McKean, IDA Project Manager