COUNTY OF SULLIVAN INDUSTRIAL DEVELOPMENT AGENCY
One Cablevision Center
Ferndale, New York 12734
(845) 295-2603 – voice
(845) 295-2604 – fax
RECONVENED MEETING MINUTES
Friday, September 16, 2011
I. CALL TO ORDER
Chairman Elwin Wood called to order the special meeting of the County of Sullivan Industrial Development Agency at 1:00 PM, which was held in the Legislative Committee Room at the Sullivan County Government Center, Monticello, New York.
II. ROLL CALL
Members Present – Members Absent –
Elwin Wood Suzanne Loughlin
Harold Gold Harris Alport
Cindy Garlinghouse (arrived at approximately 1:10 PM)
Staff Present – Staff Absent –
Jennifer C.S. Brylinski, Exec. Director Elizabeth Hunt, Exec. Assistant
Others Present –
Walter Garigliano, Esq., IDA Counsel
Allan Scott, IDA CEO and Consultant
Barbara Garigliano, Esq., Garigliano Law Office
Tara Lewis, Garigliano Law Office
Henry Zabata, Concord Associates
Kevin McManus, Concord Associates
Joseph Amicone, Esq., Harris Beach
Dan Hust, Democrat
Victor Whitman, Times Herald Record
Kathy Labuda, Sullivan County Legislator
Jennifer Mall, County Planning Department
Cora Edwards, Sullivan County Resident
Barbara Burton, Sullivan County Resident
III. APPROVAL OF MINUTES
IV. BILLS AND COMMUNICATIONS
V. EXECUTIVE DIRECTOR’S REPORT
VI. OLD BUSINESS
Mr. Garigliano distributed a resolution to the Board Members that would authorize Allan Scott to execute and certify documents in the name of the IDA in regards to the NYS Dormitory Authority / Holiday Mountain project. A motion to approve the resolution was made by Mr. Sykes, seconded by Mr. Gold, and approved unanimously.
Mr. Garigliano explained to the Board that a resolution passed by the Board during the September 13, 2011, meeting had a typo on it. The resolution authorizing and approving the execution and delivery of a fee and leasehold mortgage by Ideal Snacks should have stated in an amount not to exceed of $8 million, not $7 million. The Board verbally approved the modification.
Mr. Kevin McManus, of Concord Associates, came before the Board with a presentation and explanation of the evolution of the Concord project. This included an overview of the original proposal approved by the Town of Thompson Board in November of 2006, a second amendment to that approval in April of 2008, and subsequent redesign proposals to improve the efficiency of the project.
Mr. Garigliano then explained to the Board the request being made of the IDA by Concord Associates. The request is to take the two transactions already approved by the IDA and amend the existing project by reconfiguring it into three transactions. These three transactions would entail (1) the Racetrack portion, (2) the Hotel portion, and (3) the Lakefront portion that would entail no new development and hence receive no abatement from the IDA. Mr. Garigliano then described for the Board the ownership chart and the transaction structure chart.
Mr. Gold asked for a timeframe of the proposal. Mr. Zabata explained that in the next 30 to 45 days he expects to have the bonds sold. Mr. McManus explained that more earthwork is expected to be conducted before winter.
Mr. Garigliano distributed the resolution. On a motion made by Mr. Sykes, seconded by Mr. Gold the resolution was placed before the members of the County of Sullivan Industrial Development Agency. The Board voted as follows:
Mr. Wood – Aye
Mr. Gold – Aye
Ms. Garlinghouse – Aye
Mr. Barbuti – Aye
Mr. Walter – Aye
Mr. Sykes – Aye
Mr. Alport – Absent
Mr. White – Aye
Ms. Loughlin – Absent
VII. NEW BUSINESS
Chairman Wood asked if there was any public comment. Ms. Burton commented about the ownership of the Concord property. There being no further discussion or public comment, Chairman Wood motioned to adjourn the meeting, seconded by Mr. Gold, and the Board voted and the motion was unanimously carried. The meeting was adjourned at 1:35 PM.
Jennifer C.S. Brylinski
IDA Executive Director