Ray Gillen --------------- Chair Bradley G. Lewis ------- Vice Chair Robert J. Wall -------- Treasurer Sharon A. Jordan ------- Secretary Edward L. Capovani William R. Chapman Neil M. Golub Janet Hutchison John Mallozzi Robrt Mantello Karen Zalewski- Wildzunas
Schedule of Metroplex Board of Directors Meetings All meetings begin at 6:00 p.m. in the Metroplex Office at 433 State Street, 4th Floor
2012
January 11 February 8 March 14 April 18 May 9 June 13 July 11 - Public Hearing July 18 August 8 September 12 October 10 November 14 December 12
Schenectady Metroplex Development Authority Board Meeting Minutes February 10, 2010
Present: Ray Gillen, Bob Wall, Sharon Jordan, Neil Golub, Gary McCarthy, Patrick Saccocio, Bill Chapman, Bob Mantello, Janet Hutchison and Ed Capovani
Absent: Brad Lewis
Others: Neil Levine (Counsel), Jayme Lahut, Jim Callander and audience of 4
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Wall moved adoption of the December 9, 2009 meeting minutes; seconded by Mr. Saccocio. The minutes were unanimously approved.
2. Treasurer’s Report: Ms. Jordan reviewed the Income and Operating Expense Report for the period ending December 31, 2009 noting that the sales tax revenues were down about five percent. Cash on hand totaled $4,246,805. Following the review of the Predevelopment Budget and Capital Projects report, and brief discussion about sales tax forecasts for 2010, Ms. Jordan moved acceptance of the Treasurer’s Report, seconded by Mr. Capovani and approved.
3. Alco Redevelopment Project: Resolution 623-10 — Hold Public Hearing for Alco DGEIS
In advance of the meeting, Clough Harbour & Associates distributed the Draft Generic Environmental Impact Statement regarding the redevelopment of the Alco site. The document establishes certain development thresholds which are then analyzed for cumulative impacts relating to traffic; construction noise, air emissions and waste removal; visual impacts; infrastructure requirements; and economic impacts in terms of job creation and expanding tax base. The DGEIS confers prospective development partners with a workable revitalization plan for the site, expedites the City and State permitting processes, and accessing the $4 million Restore NY grant already awarded for site preparation. Terresa Bakner, the Authority’s environmental attorney, added that the DGEIS is consistent with the City’s Comprehensive Plan adopted in 2008. She reviewed the schedule for reviewing the DGEIS, accepting comments through March 11; holding a public hearing on March 1; and reviewing the final document by April 28. Mr. Golub moved Resolution 623-10; seconded by Mrs. Hutchison. Following discussion about site conditions and remediating soil contamination, Resolution 623-10 was unanimously approved.
4. Downtown Schenectady Improvement Corporation (Environmental Enhancement Grant): Resolution 625-10 — Adopt the General Project Plan
Metroplex participation involves a $230,000 grant for on-going staff, operational support and other beautification activities for keeping the downtown clean, neat and safe 7-days a week. DSIC has made real progress in its cleaning program with improved responsiveness. DSIC cleans up weekends and following special events as well as on-going activities, such as, hanging flower baskets, maintaining tree beds and caring for landscaped areas downtown. Ms. Jordan moved Resolution 625-10; seconded by Mr. McCarthy. Discussion followed in support of DSIC’s clean up program. Resolution 625-10 was approved with 9 ayes and Mrs. Hutchison abstained.
5. Upper Union Streetscape II Project: Resolution 626-10 — Accept Assignment of NYS Grant Award
The resolution authorizes an advance of up to $40,000 on behalf of the Upper Union Street BID to pay the City for street work completed last year from Dean Street to the City/Niskayuna line. In turn, the BID will reimburse Metroplex with proceeds of a grant award secured by Senator Farley. The work included construction of an ornamental column and brass plaque and installing about 10 trash receptacles. The grant provides that the work must be completed and contractors paid in order to obtain reimbursement and the BID does not have sufficient cash flow to advance the funds to the City. Ms. Jordan moved Resolution 626-10; seconded by Mr. Mantello. Discussion followed regarding federal TIP funding, and Resolution 626-10 was approved.
6. Accounting Services Contract: Resolution 627-10 — Robert L. Kristel, CPA P.C.
The Fiscal Audit Committee recommended retaining Bob Kristel’s firm for $42,000 for 2010. Mr. Golub moved Resolution 627-10; seconded by Mr. McCarthy. Resolution 627-10 was unanimously approved.
7. 2010 Tax-Exempt and Taxable Bonds: Resolution 628-10 — Retain Bond Underwriter
Metroplex solicited qualifications and fee quotes for assisting the Authority with taking bonds to market by May. RFQ respondents included RBC Capital Markets; Roosevelt & Cross; Jefferies & Company; and Stifel Nicholaus. Based on the lowest price for services, the Fiscal Audit Committee recommended retaining RBC Capital Markets. Stifel Nicholaus was unresponsive to the RFP and was eliminated. Ms. Jordan moved Resolution 628-10; seconded by Mr. Saccocio. Resolution 628-10 was unanimously approved.
The resolution listed six projects where all work has been completed but Metroplex funds remain unspent. The total amount recaptured is $22,139 which may be dedicated to new projects. Ms. Jordan moved Resolution 630-10; seconded by Mr. Golub, and unanimously approved.
9. Project Reconciliation and Accounting: Resolution 631-10 — Allocate Additional Funds for Unbudgeted Project Expenditures and Take Related Actions
The resolution identified 4 closed, Metroplex-sponsored projects that incurred change orders or increased professional services billings thereby requiring Board ratification of the budget variances. Mr. Mantello moved Resolution 631-10; seconded by Mr. Wall and approved.
Public Comment: Jim Salengo, Executive Director of the Downtown Schenectady Improvement Corporation (DSIC), expressed his thanks for the Board’s support and provided a brief update on the success of the program. Peter Guidarelli, city resident and downtown property owner, also expressed support for the DSIC clean up program.
Adjournment: Mr. McCarthy moved to adjourn; seconded by Mr. Mantello and approved.
Schenectady Metroplex Development Authority Board Meeting Minutes March 10, 2010
Present: Ray Gillen, Bob Wall, Brad Lewis, Neil Golub, Gary McCarthy, Patrick Saccocio, Bill Chapman, Janet Hutchison and Ed Capovani
Absent: Sharon Jordan and Bob Mantello
Others: Neil Levine (Counsel), Scott Cietek, Jim Callander and audience of 2
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Annual Meeting: Resolution 632-10 — Election of Officers
The By-Laws require appointing the Secretary and Treasurer at the annual meeting. Resolution 632-10 re-appoints Sharon Jordan as Treasurer and Bob Wall as Secretary. Mr. Golub moved Resolution 632-10; seconded by Mr. McCarthy. There was no discussion and Resolution 632-10 was unanimously approved.
2. Approval of Minutes: Mr. McCarthy moved adoption of the February 10, 2010 meeting minutes; seconded by Mr. Golub. The minutes were unanimously approved.
3. Treasurer’s Report: Robert L. Kristel, CPA, the Authority’s accountant, made an oral presentation reviewing the financial statements for the year ending December 31, 2009, which were distributed to the Board in advance of the meeting. The financials are used by the Authority’s auditors, Bollam, Sheedy, & Torani, in compiling the annual audit that is nearing completion. Mr. Lewis moved accepting the Treasurer’s Report; seconded by Mr. McCarthy. After brief discussion and questions about the year-end statement, the motion was approved.
4. Upper Union Street Façade Program II: Resolution 633-10 — Amend the General Project Plan
The Upper Union Street BID requested a supplemental grant of $122,000 for four new façade projects because the current Metroplex grant of $395,000 is fully committed. Four (4) property owners are making meaningful investments in their buildings.
1. 1602 Union Street (Holiday Liquor) plans extensive interior and exterior renovations, including taking down the 50's style pole sign; 2. 1601 Union Street (the former Riccardi’s Deli) adding awnings and new signage; 3. 1613 Union Street (Salamack Building) new investment and revamped façade; 4. 1729 Union Street (Passano Paint) storefront upgrade.
These projects constitute nearly $500,000 in new investment on Upper Union Street — interior and exterior — with about $160,000 for façade and other exterior improvements. This brings total investment in the Phase 2 program in excess of $1.3 million with Metroplex’s participation at $517,000. Mr. Lewis moved Resolution 633-10; seconded by Mr. McCarthy. Following discussion about marketing the success of this program, Resolution 633-10 was approved.
4. Foster Building Project: Resolution 634-10 — Purchase 508, 510 512 State Street and 204 Lafayette Street
Mr. Gillen successfully negotiated with the owners, Dennis Todd and Craig Alsdorf, by offering $250,000, plus back taxes (about $20,000) and legal fees not to exceed $5,000. This would also resolve the EDPL proceeding against Providian Arms, LLC. Several housing developers have expressed interest in redeveloping this property. Mr. Lewis moved Resolution 634-10; seconded by Mr. McCarthy. Following discussion about the purchase and redevelopment scenarios, Resolution 634-10 was unanimously approved.
5. Presentation: Public Authorities Reform Act of 2009
Neil Levine, Esq. summarized the requirements and compliance measures contained in the Public Authorities Reform Act of 2009. His office has been working with staff to ensure compliance with the new legislation. A few Board members must attend the Governance Training required of all public authority board members.
Board Comment: Mr. Gillen mentioned Metroplex’s success in scoring a $750,000 National Grid grant for the Urban Corridor Initiative covering the area from Center City to the Union Graduate College.
Public Comment: None
Adjournment: Mr. McCarthy moved to adjourn the meeting at 6:55 pm; seconded by Mr. Golub and approved.
Schenectady Metroplex Development Authority Board Meeting Minutes April 14, 2010
Present: Ray Gillen, Brad Lewis, Sharon Jordan, Neil Golub, Gary McCarthy, Bob Mantello, Patrick Saccocio, Bill Chapman, Janet Hutchison and Ed Capovani
Absent: Bob Wall
Others: Neil Levine (Counsel), Jayme Lahut, Jim Callander and audience of 2
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. McCarthy moved adoption of the March 10, 2010 meeting minutes; seconded by Mr. Lewis and approved. (Mr. Golub was absent)
2. Treasurer’s Report: Ms. Jordan reviewed the Income and Operating Expense Report for the period ending March 31, 2010 which was distributed prior to the meeting. Cash on hand totaled $4,388,650. Following review of the Capital Projects and Pre-development Expense reports, Mrs. Hutchison moved acceptance of the Treasurer’s Report; seconded by Mr. McCarthy and approved. (Mr. Golub was absent)
3. 2009 Audit: Resolution 635-10 — Adopt Audit for the Fiscal Year Ending December 31, 2009
On March 30, the Fiscal Audit Committee met with the Authority’s auditors, Bollam, Sheedy, Torani. The auditors called the audit clean with no findings. They characterized the Authority’s financial position as strong and stable with no changes to the financials as presented previously by Robert Kristel. The audit was completed on time. Upon acceptance of the audit, the document will be posted on the Authority’s website and submitted to the County Legislature, the State Comptroller’s Office, and Authority Budget Office. Ms. Jordan moved Resolution 634-10; seconded by Mr. McCarthy. Discussion followed about the Authority’s loan portfolio and its Loan Administration Policy. Resolution 635-10 was unanimously approved.
4. Downtown YMCA Project: Resolution 636-10 — Make Application to DASNY
The resolution authorized Metroplex to prepare and submit an application to the Dormitory Authority in support of the YMCA’s $7 million project at Center City. The $1,000,000 state grant derives from a budget appropriation from former Assemblyman Tonko. Ms. Jordan moved Resolution 636-10; seconded by Mr. Lewis. Following brief discussion, Resolution 636-10 was unanimously approved.
5. Union Graduate College Project: Resolution 637-10 — Make Application to DASNY
The resolution authorizes Metroplex to submit an application to the Dormitory Authority in support of Union Graduate College’s new facility at the corner of Nott Terrace and Liberty Street which was opened in September 2009. The $350,000 grant derives from a budget appropriation from former Assemblyman Tonko. Mr. Lewis moved Resolution 637-10; seconded by Mr. Mantello and unanimously approved.
In June 2005, the Board approved a five-year contract with Laz Parking to manage and operate the downtown parking system, which expires May 30, 2010. The agreement includes a provision allowing for a one-year extension if both parties agree in writing at least 30 days prior to the expiration. Laz has requested that the contract be extended until May 30, 2011. Ms. Jordan moved Resolution 638-10; seconded by Ms. Hutchison. Discussion followed about Laz’s remuneration under the contract with Mr. McCarthy suggesting that future resolutions include Laz’s remuneration. Resolution 638-10 was unanimously approved.
7. GEMx Battery Plant Update — Mr. Gillen made a brief presentation on the GEMx project bringing 350 new manufacturing jobs to Schenectady.
8. Public Comment: None
9. Board Comment: Mr. Gillen summarized SEFCU’s relocation of its insurance and commercial banking departments to Clinton Square. The project yields 60 new jobs to downtown.
Adjournment: Mr. McCarthy moved to adjourn; seconded by Mr. Golub. The meeting was adjourned at 6:30 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes April 28, 2010
Present: Ray Gillen, Brad Lewis, Gary McCarthy, Bob Mantello, Patrick Saccocio, Bill Chapman, Janet Hutchison
Absent: Neil Golub, Ed Capovani, Sharon Jordan and Bob Wall
Others: Neil Levine (Counsel), Jayme Lahut, Jim Callander and audience of 2
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. McCarthy moved adoption of the April 14, 2010 meeting minutes; seconded by Mrs. Hutchison and approved. (Mr. Mantello was absent).
2. Alco Redevelopment Project: Resolution 639-10 — Accept Final Generic Environmental Impact Statement as Complete
Terresa Bakner, Authority Counsel, summarized the comments received at the public hearing on March 1 with respect to the DGEIS and other comments received by March 12, 2010. The FGEIS addresses the comments received and contains a responsiveness summary as well as an updated economic impact report. Ms. Bakner explained that SEQRA requires a 10-day cooling off period between the acceptance of the FGEIS and the adoption of a Findings Statement, which is the final step in the environmental review process. Mr. McCarthy moved Resolution 639-10; seconded by Mr. Saccocio. Discussion followed about soil contamination and the cost of remediation and about the poor and unsafe building conditions that impair preservation of structures. Resolution 639-10 was unanimously approved.
The chairman negotiated a clean up plan for the vacant McDonalds restaurant at 25 Mohawk Avenue in Scotia, which involves demolition of the 3,800 sq. foot structure, remediation of subsurface contamination, and preparing the site for redevelopment. Metroplex will contribute up to $25,000 for the demolition and site clearing with McDonalds paying for costs incurred over and above $25,000 and site remediation. Demolition is expected to be complete by June. Resolution 641-10 classified the project as an Unlisted Action under SEQRA and determined there was no negative environmental impact. There was no discussion. Mr. Lewis moved Resolution 641-10; seconded by Mr. Saccocio and unanimously approved.
4. Scotia McDonald’s Project: Resolution 642-10 — Adopt the General Project Plan
Mr. Gillen explained that redevelopment and reuse of the McDonald’s site was critical to revitalization activities in Scotia. The project remains a top priority for the County and Village. Mr. Saccocio moved Resolution 642-10; seconded by Mr. Lewis. Mrs. Hutchison supported the project but voiced concerns over the company’s reluctance to clean up the site in a timely manner. Resolution 642-10 was unanimously approved.
5. Schenectady Museum / Science Center Grant: Resolution 643-10 — Adopt the General Project Plan
The resolution authorized reimbursing the Schenectady Museum for study examining the feasibility for adaptive reuse of the Armory as a regional science center. The Museum retained BBL Construction, Re4orm Architecture and M/E Engineering to master plan the Armory and develop preliminary design concepts. The location and building appear viable and the Museum is working with New York State to lease the property. The project would also jump-start revitalization of lower State Street. Mr. Chapman moved Resolution 643-10; seconded by Mr. Saccocio. Following discussion, Resolution 643-10 was approved with 6 ayes and Mr. Lewis abstained.
6. Public Comment: None
7. Board Comment: Ray Gillen provided an update on the Schenectady Light Opera project and noted the recent announcements regarding the growth opportunities at Railex and Waste Management.
8. Adjournment: Mr. Lewis moved to adjourn; seconded by Mr. Mantello and the meeting adjourned at 6: 55 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes May 26, 2010
Present: Ray Gillen, Brad Lewis, Sharon Jordan, Bob Wall, Gary McCarthy, Patrick Saccocio, Bill Chapman, Neil Golub and Ed Capovani
Absent: Janet Hutchison and Bob Mantello
Others: Neil Levine (Authority Counsel) Terresa Bakner (Counsel), Jayme Lahut and audience of 3
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Ms. Jordan moved adoption of the April 28, 2010 meeting minutes; seconded by Mr. McCarthy and approved. (Mr. Golub was absent.)
2. Treasurer’s Report: Ms. Jordan reviewed the Income and Operating Expense Report for the period ending April 30, 2010 which was distributed prior to the meeting. Cash on hand totaled $4,493,703. Following review of the Capital Projects and Pre-development Expense reports, Ms. Jordan moved acceptance of the Treasurer’s Report; seconded by Mr. Lewis and approved. (Mr. Golub was absent.)
3. 2010 Parking Improvement Projects: Resolution 644-10 — Hold a Public Hearing
The project involves two activities — improvements to the Center City parking lot and reopening Maxon Road between Erie Blvd. and Peek Street. Total project cost is $775,000. The Center City lot requires extensive lighting, water runoff, and resurfacing improvements to accommodate major users like YMCA, Paul Mitchell students, and MVP employees. The Maxon Road project involves reopening the segment between Erie Blvd and Peek Street as right-out only and improves traffic circulation with the build out at College Park and Union College housing. Resolution 644-10 authorized holding a public hearing on the project, which Ms. Jordan moved, and Mr. Lewis seconded. Following discussion Resolution 644-10 was unanimously approved. (Mr. Golub was absent.)
4. Center City Property Conveyances: Resolution 643-10 — Amend Center City Parking Lot Lease
Metroplex leases the Center City parking lot from Parking Lot at Center City, LLC (a Robert Lupe holding company) with an option to purchase. The resolution authorized changes in the lease by authorizing property transfers that modestly altered the lot’s dimensions. It also approved an access easement over the Metroplex-owned Alley connecting the lot with pedestrian Jay Street. The property swaps allow for placement of a sidewalk along the back property lines of 401, 409, 411 and 433 State Street, which satisfy City code requirements for egress to a public street (Broadway). Mr. Lewis moved Resolution 643-10; seconded by Mr. Wall. Following discussion, Resolution 643-10 was unanimously approved. (Mr. Golub was absent.)
Terresa Bakner reviewed the Findings Statement, the final step in the environmental review of the Alco Redevelopment Project, that addressed the potential environmental impacts contained in FGEIS adopted on April 28. Resolution 649-10 formally adopted the Findings Statement, which allows the project to proceed with government approvals, permits, and funding. Mr. Saccocio moved Resolution 649-10; seconded by Mr. Capovani. Discussion followed about project phasing and schedule. Resolution 649-10 was unanimously approved. (Mr. Golub was absent.)
6. Building 14 / Rotterdam Corporate Park: Resolution 645-10 — Convey Mortgage Recording Tax and Sales Tax Exemptions
In 2008, Metroplex purchased Building 14 in the Rotterdam Corporate Park and entered into a master lease with FG Rotterdam Holding, LLC, an affiliate of the Galesi Group, to operate and manage the property. FG Rotterdam Holdings is borrowing $3.85 million with a portion of the proceeds used for capital improvements including a new roof for Building 14. Since Metroplex holds title to the building, Resolution 645-10 allows FG Rotterdam Holdings to finance improvements on the building and secure a mortgage recording tax exemption and sales tax exemption from Metroplex. Mr. Saccocio moved Resolution 645-10; seconded by Mr. Wall. After discussion followed about Metroplex’s role and participation, Resolution 645-10 was approved with 8 ayes and Mr. Capovani voting no.
7. Office Lease: Resolution 646-10 — Approve Lease for Space at 433 State Street
The resolution authorized entering into a 5-year lease for 3,195 square feet of office space on the 4th floor of Center City and allocates $50,000 for relocation costs, preparing for IT requirements, furnishings, and leasehold related goods and services. Ms. Jordan moved Resolution 646-10; seconded by Mr. Lewis. Resolution 646-10 was unanimously approved.
8. Lofts at Union Square Project: Resolution 647-10 — Adopt the General Project Plan
The 2-phased residential development project constructs 20+ units of market rate rental housing at the corner of Union and Barrett Streets. Phase 1 demolishes existing structures, prepares the site for construction, and builds 8 row houses with enclosed garages at a cost of $1,584,000. Phase 2 adds a 3-story, 14-unit apartment building with ground floor retail space budgeted at $1,587,500. Metroplex’s participation is a $150,000 grant and $200,000 loan for construction and permanent project financing. Ms. Jordan moved Resolution 647-10; seconded by Mr. Lewis. Following discussion about the demand for downtown housing, Resolution 647-10 was unanimously approved.
9. Broadway Commerce Park Phase 3 Project: Resolution 648-10 Amend the General Project Plan
The resolution consented to Metroplex subordination of its mortgage on 588 Broadway to the interests of Pioneer Savings Bank and City IDA Pilot mortgages. This facilitated Highbridge 890, LLC to finance its project by securing a $2,650,000 loan commitment for building a 22,000 square foot flex-space building. Metroplex made a $285,000 in 2009 for site clean up and preparation to develop this high-profile site at the base of Exit 5 of I-890. Mr. Golub moved Resolution 648-10; seconded by Mr. Lewis. Following discussion, Resolution 648-10 was approved with 8 ayes and Mr. Saccocio abstaining.
10. Alco Redevelopment Project: Resolution 650-10 — Amend the General Project Plan
The resolution authorized adding $75,000 to the project budget for preparation and adoption of the Generic Environmental Impact Statement for the Alco project. This raised the budget to $495,000 for research and data collection, studies and reports, legal expenses which were needed for completing the EIS. With the completion of SEQRA, local and state approvals can proceed for securing the $4 million Restore NY grant awarded to the City of Schenectady, site plan review by the City, DEC Brownfield Tax Credits and State Historic Preservation for building demolition. Due to the myriad of site issues that Metroplex addressed cooperatively with City and State agencies, the process took much longer than expected and expenses were more than anticipated. Mr. Golub moved Resolution 650-10; seconded by Mr. Lewis. After brief discussion, Resolution 650-10 was unanimously approved.
11. Alco Restore NY Project: Resolution 651-10 — Adopt General Project Plan
The resolution involved making a $250,000 grant as a match for the $4,000,000 Restore NY grant awarded to the City of Schenectady last year. The Restore funds may be used for demolition, asbestos remediation, removal of soil contaminants, and site preparation necessary to construct office buildings. Mr. Lewis moved Resolution 651-10; seconded by Mr. Wall and unanimously approved.
12. Program Management Services: Resolution 652-10 — Contract with T. Wilson & Associates
In 2009, Metroplex retained T Wilson & Associates for a three-year term following an RFP procurement for coordinating construction and renovation projects taking place in downtown and Schenectady County. The contract expired on April 30 and negotiated remuneration of $4,500 per from, which is reduced from $6,000 last year. Ms. Jordan moved Resolution 652-10; seconded by Mr. Lewis and unanimously approved.
13. Public Comment: None
14. Board Comment: Mr. Capovani inquired about the Board meeting minutes being posted on the website.
15. Adjournment: Ms. Jordan moved to adjourn; seconded by Mr. McCarthy. The meeting was adjourned at 7:20 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes June 9, 2010
Present: Ray Gillen, Brad Lewis, Bob Wall, Patrick Saccocio, Bill Chapman, Neil Golub, Bob Mantello and Janet Hutchison
Absent: Sharon Jordan, Ed Capovani and Gary McCarthy
Others: Neil Levine (Counsel), Jayme Lahut, Jim Callander, Scott Cietek and audience of 2
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the May 26, 2010 meeting minutes; seconded by Mr. Lewis and approved.
2. Treasurer’s Report: Jayme Lahut reviewed the Income and Operating Expense Report for the period ending May 31, 2010 which was distributed prior to the meeting. Cash on hand totaled $3,880,471. He noted that earlier in the day Metroplex’s bond underwriter, RBC Capital, pre-sold $6.5 million in bonds at 6% interest. The bond closing is scheduled for June 15. Mr. Gillen pointed out that Schenectady County’s tax revenues for the first quarter outpaced all other counties in the Capital Region except Saratoga County. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Mrs. Hutchison. The Treasurer’s Report was accepted.
3. 2010 Parking Improvement Program: Resolution 653-10 — Adopt the General Project Plan
A public hearing was held on June 2, 2010 about the project involving reconstruction of the Center City parking lot and reopening Maxon Road at Erie Blvd. No written or oral comments were received about the project. The work will be competitively and publicly bid and comply with prevailing wage requirements with bid opening slated for July 7. Mr. Wall moved Resolution 653-10; seconded by Mr. Lewis. Following discussion regarding sidewalks and improved lighting for the Center City lot, Resolution 653-10 was unanimously approved.
4. Argo Turboserve Corporation (ATC) Retention Project: Resolution 654-10 — Adopt the General Project Plan
The $4,590,000 project is constructed by and leased from Highbridge 890, LLC facilitating relocation of ATC’s Spectrum Nuclear Division from 112 Erie Blvd to a 22,000 square foot facility at 588 Broadway. ATC now employs 13 full-time employees, expects to add another 16 by 2014 by nearly tripling their space requirements to meet rapid nuclear industry growth. Metroplex participation involved a $150,000 grant for tenant fit-up and testing equipment. Mr. Mantello moved Resolution 654-10; seconded by Mr. Lewis. Following discussion about the nuclear industry and ATC’s business plans, Resolution 654-10 was approved with 7 ayes and one abstention (Mr. Saccocio).
5. Broadway Commerce Park Project: Resolution 655-10 — Amend the General Project Plan
In a related ATC matter, Resolution 655-10 reduced its $285,000 loan to Highbridge 890, LLC to $125,000 and extended the loan term from 10 years to 12 years. The modification was requested by the developer to address higher costs for building design and environmental remediation of the site. Mr. Lewis moved Resolution 655-10; seconded by Mr. Golub. Discussion followed and Resolution 655-10 was approved with 6 ayes, 1 no and 1 abstention (Mr. Saccocio).
6. 797 Broadway Project: Resolution 656-10 — Amend the General Project Plan
The resolution authorizes entering into a Metroplex property tax agreement with an affiliate of the Galesi Group, 797 Broadway Associates, LLC, with respect to the former Schenectady International complex on Broadway. The agreement fills a funding gap to stabilize the hillside in the rear of the property. The County has secured FEMA grant to complete the slope stabilization project with the necessary matching local funds. To date, approximately $10 million has been invested in the project with another $10 million to be invested to renovate the second building. Mr. Golub moved Resolution 656-10; seconded by Mr. Lewis. Following questions and answers about the transactions structure, Resolution 656-10 was unanimously approved.
7. River Stone Manor Project: Resolution 657-10 — Accept Loan Pre-payment
In 2002 Metroplex loaned $494,860 to River Stone Manor for relocating and reestablishing Sgarlata’s banquet and catering business to Route 5 in Glenville. The company requested prepaying $250,000 on the original Metroplex loan as part of a refinancing with First National Bank of Scotia. The company will have paid over $537,000 in principal and interest to Metroplex and prepayment now allows new Metroplex reinvestment in projects county-wide. Mr. Mantello moved Resolution 657-10; seconded by Mr. Lewis. Some members expressed concern about setting precedent on prepaying loans, although others thought the company effectively repaid its Metroplex obligation and succeeded in creating jobs, adding sales tax and boosting the property tax base. Resolution 657-10 was unanimously approved.
8. Public Comment — None
9. Board Comment — Mr. Golub suggested evaluating methods for cleaning up the hillside vegetation and overgrowth on Broadway near Cappiello’s.
10. Adjournment — Mr. Golub moved to adjourn; seconded by Mr. Lewis. The meeting was adjourned at 7:00 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes July 14, 2010
Present: Ray Gillen, Brad Lewis, Bob Wall, Patrick Saccocio, Bill Chapman, Gary McCarthy and Janet Hutchison
Absent: Sharon Jordan, Ed Capovani, Bob Mantello and Neil Golub
Others: Jayme Lahut, Jim Callander and audience of 3
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Lewis moved adoption of the June 9, 2010 meeting minutes; seconded by Mrs. Hutchison and approved.
2. Treasurer’s Report: Jayme Lahut reviewed the Income and Operating Expense Report for the period ending June 30, 2010 which was distributed prior to the meeting. He noted that income is about $200,000 below budget but a rebound is expected by the end of the year. Expenses for the year are running below budget and cash on hand totaled $3,323,969. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Mr. Chapman. Discussion followed regarding a Comptroller’s report on incentive-based bonuses provided to staff by public authorities. The Treasurer’s Report was accepted.
3. GEMx Technologies, LLC / GE Battery Plant Project: Resolution 658-10 — Hold a Public Hearing
After looking at many sites in the Capital District, GE selected Building 66, a 190,000 sq. ft. building on the Main Campus as home for its battery manufacturing operation. Building 66 will be renovated inside and out. The total project cost is $105 million bringing 350 new jobs initially with the potential for significantly more jobs. Metroplex participation involves a $5,000,000 grant for production equipment. NYS DEC recently completed the SEQRA process. Resolution 658-10 called for a public hearing to be held in the next few weeks. Construction should start in August and start-up production in July 2011. Mr. McCarthy moved Resolution 658-10; seconded by Mr. Wall. Following discussion, Resolution 658-10 was unanimously approved.
Metroplex staff and CHA reviewed seven bids submitted for the reconstruction/improvement to the Center City parking lot and the reopening of Maxon Road at Erie Blvd. Empire Paving was the lowest bidder at $528,000. Mr. Wall moved Resolution 659-10 to award the contract to Empire Paving; seconded by Mr. McCarthy. After brief discussion, Resolution 659-10 was approved with 6 ayes and 1 abstention (Mr. Saccocio).
Metroplex staff reviewed two responses for the competitive purchase of 14 light poles and accompanying fixtures for the Center City parking lot. Thorpe Electric Supply Co. of Rensselaer was the lowest bidder at $75,631.50. Mr. Lewis moved Resolution 660-10 awarding the light purchase to Thorpe Electric Supply Co.; seconded by Mr. Saccocio. Resolution 660-10 was unanimously approved.
6. Alco Redevelopment Project: Resolution 661-10 — Amend the General Project Plan
Resolution 661-10 provides for a partial exemption from real property taxes until a longer term PILOT agreement can be reached with the City IDA. The two-step approach for dealing with property taxes has included City officials, who are on-board with using Metroplex as a transitional bridge to an IDA Pilot. The Metroplex agreement would be in effect for about 9 months while building demolition and site remediation proceed. Mr. McCarthy moved Resolution 661-10; seconded by Mrs. Hutchison. After discussion regarding tax arrearages and Metroplex’s role in the project, Resolution 661-10 was unanimously approved.
7. Public Comment — None
8. Board Comment — Mr. Lewis moved to convene in executive session to discuss a pending legal matter; seconded by Mr. Saccocio. At 6:25 p.m. the board met privately and reconvened in public at 6:35. Mr. Gillen stated that no decisions or votes occurred.
9. Adjournment — Mr. McCarthy moved to adjourn; seconded by Mr. Lewis. The meeting was adjourned at 6:40 p.m.
Respectfully submitted,
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes August 11, 2010
Present: Ray Gillen, Brad Lewis, Bob Wall, Sharon Jordan, Patrick Saccocio, Bill Chapman, Bob Mantello and Neil Golub
Absent: Ed Capovani, Janet Hutchison and Gary McCarthy
Others: Neil Levine (Counsel), Jayme Lahut, Jim Callander, Scott Cietek and audience of 2
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Ms. Jordan moved adoption of the July 14, 2010 meeting minutes; seconded by Mr. Wall and approved.
2. Treasurer’s Report: Ms. Jordan reviewed the Income and Operating Expense Report for the period ending July 31, 2010 which was distributed prior to the meeting. She noted that the sales tax income is modestly below budget. Operating expenses are under budget. Cash on hand totaled $4.38 million. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Mr. Saccocio. The Treasurer’s Report was accepted.
3. GEMx Technologies, LLC / GE Battery Plant Project: Resolution 662-10 — Adopt the General Project Plan
The $150+ million project involves interior and exterior renovations of Building 66 at GE’s Main Campus to manufacture sodium-metal halide batteries for telecommunications providers (cell towers) and railroad locomotives. This project represents the first new manufacturing product line brought to Schenectady in more than a generation and will create 350 new jobs. The public hearing was held on August 6 with no comments. Metroplex participation involves a $5million grant for building improvements and equipment matched by a $15 million ESDC grant. The project is underway. Mr. Lewis moved Resolution 662-10; seconded by Mr. Golub. Following discussion about product development and the technology, Resolution 662-10 was unanimously approved.
The $4.5 million project involves demolition of the Capitol Plaza at Curry Road and Altamont Avenue, and construction of a 9,000 square foot commercial and retail facility for a Recovery Room Sports Grill and a bank facility. The project cleans up an eyesore at one of the busiest intersections in the County. Resolution 663-10 characterizes the project as an Unlisted Action, acknowledges the environmental review undertaken by the Rotterdam Planning Commission, and states there is not any significant environmental impact. Mr. Saccocio moved Resolution 663-10; seconded by Mr. Lewis. Following discussion, Resolution 663-10 was unanimously approved.
5. Capitol Plaza Renovation Project: Resolution 664-10 — Adopt the General Project Plan
Columbia Development is acquiring the 1.35-acre site for constructing a Recovery Room Sports Grill and a bank branch with parking for 95 cars. The site will be graded and elevations altered to accommodate vehicular ingress/egress, pedestrian amenities, green space, and an attached patio. Project demolition and construction will start in August with completion expected by year end. Metroplex participation involves an $85,000 grant for building demolition and site preparation matched by a $60,000 grant from the Rotterdam IDA, $4 million Berkshire Bank loan and developer equity. Mr. Saccocio moved Resolution 664-10; seconded by Mr. Lewis. Resolution 664-10 was unanimously approved.
6. Broadway Commerce Park Phase 3 Project: Rescind Resolution 655-10
In June, the Board approved forgiving a portion of the original $285,000 loan and converting to a $160,000 facade grant in support of the Argo Turboserve Corporation project on Broadway near I-890. The resolution rescinds the prior Board action allowing for the transaction to be modified for accounting and legal purposes without altering the result originally authorized. The developer, Highbridge Broadway 890, LLC, proposed providing a $160,000 partial payment on the Metroplex loan; Metroplex, in turn, makes a $160,000 façade grant addressing the costs associated with the added façade elements and soil remediation that are not recoverable from the Argo lease. The loan terms are further modified by reducing the interest rate and extending the term. Mr. Golub moved Resolution 665-10; seconded by Ms. Jordan. After brief discussion, Resolution 655-10 was approved with 6 ayes, 1 no (Mr. Chapman) and 1 abstention (Mr. Saccocio).
7. Broadway Commerce Park Phase 3 Project: Resolution 666-10 — Amend the General Project Plan and Modify Loan Terms
The resolution authorizes making a $125,000 loan to Highbridge Broadway 890, LLC in support of the Argo Turboserve Corporation project. The terms allow for payment of $50,000 in principal after year 5, year 10 and $25,000 after year 12 with no interest. Ms. Jordan moved Resolution 666-10; seconded by Mr. Wall. Resolution 666-10 was approved with 6 ayes, 1 no (Mr. Chapman) and 1 abstention (Mr. Saccocio).
8. Broadway Commerce Park Phase 3 Project: Resolution 667-10 — Amend the General Project Plan and Make a Grant
Resolution 667-10 authorizes making a $160,000 facade grant in support of the Argo Turboserve Corporation project as authorized by the Board in June. Ms. Jordan moved Resolution 667-10; seconded by Mr. Lewis. Resolution 667-10 was approved with 6 ayes, 1 no (Mr. Chapman) and 1 abstention (Mr. Saccocio).
9. Lofts at Union Square Project: Resolution 668-10 — Amend the General Project Plan
The amendment concerns updating the application and designating Town Homes of Union Square, LLC as the project developer, which will now be owned and managed by Jeffrey Myers, owner and operator of Sheltertherm Builders, LLC. The change in applicant reflects the fact that Jeff Myers is presently the sole member of the LLC holding ownership to the site located at 525 Union Street and 1007 Barrett Street in downtown Schenectady. Mr. Lewis moved Resolution 668-10; seconded by Mr. Saccocio. After discussion, Resolution 668-10 was approved.
10. Public Comment — None
11. Board Comment — It was agreed to convene the October 13 Board Meeting at 5:00 p.m. due to the DSIC Annual Meeting scheduled for that evening.
12. Adjournment — Mr. Golub moved to adjourn; seconded by Mr. Lewis. The meeting was adjourned at 6:30 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes October 20, 2010
Present: Ray Gillen, Brad Lewis, Bob Wall, Patrick Saccocio, Bill Chapman, Bob Mantello, Ed Capovani, Janet Hutchison and Gary McCarthy
Absent: Sharon Jordan and Gary McCarthy
Others: Terresa Bakner (Authority Counsel), Jayme Lahut, Jim Callander and audience of 3
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the August 11, 2010 meeting minutes; seconded by Mr. Wall and approved.
2. Treasurer’s Report: Jayme Lahut reviewed the Income and Operating Expense Report for the period ending September 30, 2010, which was distributed prior to the meeting. He noted that the sales tax revenue remains slightly below budget but higher than last year. The recently deposited sales tax receipts for the third quarter also exceeded the same period from one year ago, so sales tax income appears to be on the rise again. Operating Expenses were below budget. Cash on hand totaled $3,242,119. Mr. Chapman moved acceptance of the Treasurer’s Report; seconded by Mr. Lewis. After brief discussion, the Treasurer’s Report was accepted.
3. K-Mart Plaza Engineering Relocation Project (Glenville): Resolution 669-10 — SEQRA Lead Agency Designation
The resolution kicks off the state-mandated environmental review process by seeking lead agency designation with respect to the demolition of the former K-Mart and Albany Public Market on Saratoga Road in Glenville, construction of a 134,000 square foot building by a national retailer with an attached 29,550 square foot building, two or more pad sites for future development. The project requires a coordinated SEQRA review that may include traffic issues, economic impacts and cumulative and growth inducing impacts. Mr. Capovani moved Resolution 669-10; seconded by Mr. Mantello. Mr. Gillen emphasized the project removes blight, adds tax base and is a high priority economic development project for the Town. Following discussion, Resolution 669-10 was unanimously approved.
4. M/E Engineering Relocation Project: Resolution 670-10 — Adopt the General Project Plan
M/E Engineering, P.C. is relocating to downtown Schenectady by leasing 11,800 square feet on the fourth floor of Center City bringing 30 high paying jobs with an additional 20 more by 2015. Metroplex participation involves a $100,000 grant for relocation expenses including moving costs, rent/or parking expenses and tenant improvements to be paid out over three years. The project is considered a Type II Action under SEQRA. Mr. Golub moved Resolution 670-10; seconded by Mr. Lewis. Discussion followed about the transformation of Center City. Resolution 670-10 was unanimously approved.
5. Northeast Parent and Child Project: Resolution 671-10 — Adopt the General Project Plan
Northeast Parent and Child Society, located at 530 Franklin Street, is renovating the entire first floor of its agency headquarters to house its new Career Development Center, which will assist at-risk youth with gaining needed skills, finding and maintaining well-paying jobs. Schenectady County secured a $750,000 grant from the Governor’s Office of Small Cities to help finance the project. Metroplex participation involves a mortgage recording tax exemption resulting in a project savings of about $9,375. Mr. Wall moved Resolution 671-10; seconded by Mr. Saccocio. Following brief discussion, Resolution 671-10 was unanimously approved.
6. Argo Turboserve Corporation Retention Project: Resolution 672-10 — Amend the General Project Plan
Argo Turboserve Corporation seeks to amend its application by reducing its equipment purchases to $500,000 and substantially increasing its inventory to adjust to the high growth mode within its nuclear division. Market conditions are driving ATC to deploy its capital toward purchasing more inventory, which has doubled in the past year, leaving less capital for equipment purchases. Seven new jobs have been created since its move to 588 Broadway in August with another 5 positions to be filled. The company expects to purchase its equipment over three years. Mr. Golub moved Resolution 672-10; seconded by Mr. Lewis, and approved (Mr. Saccocio abstained).
7. Jay Street Lighting Project (Phase 2): Resolution 673-10 — Adopt the General Project Plan
Metroplex completed Phase I of the lighting project in 2009, which included installation of LED light bulbs in 20 streetlights, uplighting to highlight the architectural distinctiveness of Jay Street buildings and brightening the alleyways with lighted trellises. Phase 2 involves erecting two LED lighted business directory signs on pedestrian Jay Street supporting the retailers and service businesses on Jay Street. The budget is $90,000 for sign fabrication, light fixtures, electrical installation, repairing pavers and project oversight. Mr. Lewis moved Resolution 673-10; seconded by Mr. Golub. Resolution 673-10 was unanimously approved.
8. Operating Policies and Procedures: Resolution 674-10 — Amend Cash Management and Investment Policy (Designation of Depositaries)
Resolution 674-10 re-adopts the Authority’s practices and policies in connection with general cash management and investment. A modest change in the Investment Policy adds NBT Bank as an authorized depository of Metroplex funds and eliminates Solomon Smith Barney (now known as Morgan Stanley Smith Barney) and M&T Bank. NBT recently opened a branch in downtown Schenectady. Mr. Mantello moved Resolution 674-10; seconded by Mr. Capovani and approved.
9. Public Comment: None
10. Board Comment: The next meeting is scheduled for November 17th.
11. Adjournment: Mr. Golub moved to adjourn; seconded by Mr. Wall. The meeting was adjourned at 6:30 p.m.
Respectfully submitted,
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes November 17, 2010
Present: Ray Gillen, Brad Lewis, Sharon Jordan, Patrick Saccocio, Bill Chapman, Ed Capovani, Janet Hutchison, Neil Golub and Gary McCarthy
Absent: Bob Mantello and Bob Wall
Others: Neil Levine (Authority Counsel), Jayme Lahut, Jim Callander, Scott Cietek and audience of 4
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the October 20, 2010 meeting minutes; seconded by Mr. Lewis and approved. (Mr. McCarthy was absent)
2. Treasurer’s Report: Ms. Jordan reviewed the Income and Operating Expense Report for the period ending October 31, 2010, which was distributed prior to the meeting. She noted that the sales tax revenue remains slightly below budget but higher than one year ago. Operating expenses remained below budget. Cash on hand totaled $2,644,598. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Mrs. Hutchison. After brief discussion, the Treasurer’s Report was accepted. (Mr. McCarthy was absent)
The Fiscal Audit Committee recommended adoption of the 2011 budget, which shows growth again in sales tax receipts as well as slightly higher operating expenses due to increased pension costs, employee health insurance and rent. Ms. Jordan moved Resolution 675-10; seconded by Mr. Lewis. Following discussion, Resolution 675-10 was approved. (Mr. McCarthy was absent)
4. Foster Building Stabilization Project: Resolution 676-10 — Award Asbestos Abatement Contract
Metroplex disseminated a bid package for asbestos removal in the former Foster Hotel at 508 State Street (basement, fifth and sixth floors and roof). Three firms bid the job with Rotterdam-based Environmental Remediation Services, Inc. submitting the lowest bid at $199,500. Mr. Lewis moved Resolution 676-10; seconded by Mr. Capovani. Discussion followed regarding further costs associated with stabilization of the historic building, prospects for working with developers, and the current tight lending climate for residential and mixed use projects. Resolution 676-10 was unanimously approved. (Mr. McCarthy was absent)
5. YMCA Project: Resolution 677-10 — SEQRA Lead Agency Designation
In order to proceed with Metroplex’s proposed acquisition of the YMCA facility at 13 State Street, the Authority seeks lead agency designation for undertaking a coordinated environmental review pursuant to SEQRA. A condition of Metroplex’s purchase contract required reducing occupancy by 2013 so that the facility is vacant upon purchase. Among other issues, SEQRA will identify housing alternatives for residents as well as characterizing adaptive reuse for the facility. The project acts as a catalyst to the revitalization of lower State Street. Mr. Saccocio moved Resolution 677-10; seconded by Ms. Jordan. Discussion followed about the project and increased membership at the new YMCA. Resolution 677-10 was unanimously approved.
6. Bombers on State Street Project: Resolution 680-10 — Amend the General Project Plan
Bomber’s recently renovated the third floor of the building at 447 State St. and opened a banquet space known as La Playa. The company has secured $75,000 in additional bank financing from the Statewide Zone Capital Corporation that is conditioned on Metroplex consent to further subordinate its pre-existing mortgages on the real estate. Mr. Lewis moved Resolution 680-10; seconded by Ms. Jordan. Following discussion about Bombers success and the rejuvenation of the property, Resolution 680-10 was unanimously approved.
7. Professional Services Contract: Resolution 681-10 — Parking Lot Maintenance Contract
Metroplex undertook a formal solicitation for qualifications with respect to maintaining and clearing Metroplex parking facilities from snow and debris. Only one proposal was received from Rich Pachucki Trucking. Resolution 681-10 awards a 3-year contract under the same rate structure as 2010 — $144,000 plus heavy snow removal stipend of $100 per truck load and refuse removal on a time and materials basis. Remuneration for 2012 and 2013 will require Board consent. Ms. Jordan moved Resolution 681-10; seconded by Mrs. Hutchison and approved.
10. Public Comment — None
11. Board Comment — Ray Gillen updated the Board on the Alco demolition and $2.5 million NYS grant to Hometown Health that will be used to reduce its debt, including Metroplex’s note. Mr. Golub moved to convene in executive session to discuss a personnel matter; seconded by Ms. Jordan. At 6:25 p.m. the board met privately and reconvened in public at 6:45. Mr. Gillen stated that no decisions or votes occurred.
12. Adjournment — Mr. Lewis moved to adjourn; seconded by Ms. Jordan. The meeting adjourned at 6:50.
Respectfully submitted
Jayme B. Lahut Executive Director
Schenectady Metroplex Development Authority Board Meeting Minutes December 22, 2010
Present: Ray Gillen, Bob Wall, Bob Mantello, Patrick Saccocio, Bill Chapman, Ed Capovani and Gary McCarthy
Absent: Brad Lewis, Neil Golub, Janet Hutchison and Sharon Jordan
Others: Neil Levine (Authority Counsel), Jayme Lahut, and Jim Callander
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Wall moved adoption of the November 17, 2010 meeting minutes; seconded by Mr. McCarthy and approved.
2. Treasurer’s Report: Jayme Lahut reviewed the Income and Operating Expense Report for the period ending November 30, 2010, which was distributed prior to the meeting. He noted that operating expenses remained below budget, and cash on hand totaled $2,244,151. Mr. Mantello moved acceptance of the Treasurer’s Report; seconded by Mr. Chapman, and accepted.
3. YMCA Project: Resolution 682-10 — Determination of No Significant Effect on the Environment
The project involves the acquisition by the Authority of the YMCA Site at 13 State Street. Metroplex and the YMCA have agreed to a sale price of $2,000,000. The sale enables the YMCA to finance the leasehold improvements required for establishing its 26,000 square foot full service health and exercise facility at Center City. All proceeds from the sale will be invested at the new location at Center City. Metroplex will look to jumpstart revitalization of lower State Street by considering adaptive reuse concepts of the building. The purchase agreement requires reducing occupancy of the residence to zero by the end of 2012.
With respect to SEQRA, the project was classified as Type I action and Metroplex undertook a coordinated review as lead agency. The negative declaration addressed potential adaptive reuses of 13 State Street including commercial offices, retail, classrooms, and/or residential uses. It also identified alternative housing locations. Mr. Capovani moved Resolution 683-10; seconded by Mr. Saccocio. Following discussion about the project and the environmental assessment, Resolution 683-10 was approved.
4. YMCA Project: Resolution 683-10 — Adopt the General Project Plan
After Metroplex’s participation in the project was described further, Mr. Mantello moved Resolution 683-10; seconded by Mr. Saccocio and unanimously approved.
5. Draper School Redevelopment / Disabled American Veteran’s Housing Project: Resolution 684-10 — Adopt the General Project Plan
The Disabled American Veterans Department of New York plans to purchase the former Draper School at 901 Draper Avenue in Rotterdam and convert the 135,000 square foot school into a 150-unit assisted and independent living facility for disabled veterans. The estimated total project cost is $25 million for acquisition, total interior rehabilitation and necessary fit up. Metroplex’s participation consists of a $50,000 grant and a partial exemption from real property taxes. Mr. Saccocio moved Resolution 684-10; seconded by Mr. Wall. Following brief discussion, Resolution 684-10 was unanimously approved.
The 2011 parking budget reflects modestly increasing revenues (about 1%) and a decline in expenses from current levels. The Fiscal Audit Committee recommended approval of the 2011 budget. Mr. McCarthy moved Resolution 686-10; seconded by Mr. Mantello and unanimously approved.
7. Stratton Air National Guard Support Grant: Resolution 687-10 — Adopt the General Project Plan
Mr. Gillen stated that the community needed to protect the vital 109th Airlift Wing located at the Stratton Air National Guard Base in Glenville in the event the new Congress looks to reduce federal spending. The $35,000 grant enables the Chamber to lead efforts protecting 1,400 military and civilian jobs and maintain the tremendous economic impact locally. The 109th Airlift Wing specializes in providing logistical support to the remote Polar Regions in Antarctica and Greenland and supports major scientific research conducted by the National Science Foundation. Mr. Capovani moved Resolution 687-10; seconded by Mr. Chapman. After discussion, Resolution 687-10 was unanimously approved.
8. Foster Building Stabilization Project: Resolution 688-10 — Award Emergency Repairs Contract
The resolution addresses deterioration of the former Foster Hotel by contracting with Bonacio Construction, Inc. to stabilize each floor of 508 State Street. With asbestos abatement underway, shoring and stabilization is needed to preserve the structure. Mr. Mantello moved Resolution 688-10; seconded by Mr. McCarthy. Resolution 688-10 was unanimously approved.
The borrower requested a reduction in monthly payments with no change to the maturity date of May 2018 resulting in a balloon payment of about $95,000. The original loan totaled $350,000 and payments are current. The amended terms facilitate cash flow. The Fiscal Audit Committee recommended modification to the terms. Mr. Capovani moved Resolution 689-10; seconded by Mr. Chapman. Following discussion, Resolution 689-10 was unanimously approved.
3N2 ceased operations in 2006, but two principals have been making payments on the $125,000 Metroplex loan under terms of personal guaranty agreements. With the consent of the Fiscal Audit Committee, a revised schedule of monthly payments has been agreed upon and extending the term through February 2030. Mr. Saccocio moved Resolution 690-10; seconded by Mr. McCarthy and unanimously approved.
11. Public Comment: None
12. Board Comment — Mr. Gillen provided projects updates.
13. Adjournment – Mr. McCarthy moved to adjourn; seconded by Mr. Wall. The meeting was adjourned at 6: 55 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes January 19, 2011
Present: Ray Gillen, Brad Lewis, Bob Wall, Sharon Jordan, Gary McCarthy, Bob Mantello, Patrick Saccocio, Janet Hutchison, Bill Chapman and Ed Capovani
Absent: Neil Golub
Others: Neil Levine and Terresa Bakner (Authority Counsel), Jayme Lahut, Jim Callander, Richard Pearson and Andrew Brick (representatives of the Kmart Redevelopment Project) and audience of 1
Public Hearing: K-Mart Redevelopment Project — Jayme Lahut opened the public hearing at 6:00 p.m., summarized the proposed project, explained Metroplex’s participation in the project and noting that the hearing was properly and duly noticed in the Daily Gazette. No written or oral comments were received. The hearing was closed.
Call to Order: Mr. Gillen called the meeting to order at 6:05 p.m.
1. Approval of Minutes: Mr. McCarthy moved adoption of the December 22, 2010 meeting minutes; seconded by Mr. Capovani and approved (Mrs. Hutchison was absent).
2. Treasurer’s Report: Ms. Jordan reviewed the Income and Operating Expense Report for the period ending December 31, 2010, which was distributed prior to the meeting. She noted that operating expenses remained below budget, income has improved, and cash on hand totaled $3,022,052. Ms. Jordan moved acceptance of the Treasurer’s Report; seconded by Mr. Wall. After brief discussion, the Treasurer’s Report was accepted (Mrs. Hutchison was absent).
Metroplex accepted the lead agency designation for purposes of conducting a coordinated environmental review (SEQRA). The project called for demolition of existing structures and construction of a 134,742 square foot Target discount store, an attached 36,000 square foot adjoining retail space and one or more 3,000 square foot pad sites for future development. The project is located at Route 50 and Glenridge Road. Project engineer, Richard Pearson, made a presentation about existing conditions, reviewed the site plan, summarized the reports prepared for the environmental review including a full Environmental Assessment Form, traffic study, storm water plan, surveys and site plans, and economic impact study. He focused on new traffic signals needed, storm water improvements, land swap with Glenville Queen Diner, landscaping and new sidewalks that are incorporated into the plan. The resolution classifies the project as Type I action and upon assessment of all data that the project will have no significant impact on the environment since it is effectively a reuse of an existing retail site. Mr. Capovani moved Resolution 691-11; seconded by Mr. McCarthy. Discussion followed about traffic and pedestrian accessibility. Resolution 691-11 was approved unanimously.
4. K-Mart Redevelopment (Target) Project: Resolution 691-11 Adopt the General Project Plan
Metroplex participation in the project involves a $180,000 grant for traffic signalization and improvements as well as an exemption from mortgage recording tax, sales taxes on construction materials, supplies and furniture and fixtures and Pilot that increases taxes currently paid on site. The project budgeted is $17 million. Mr. Capovani moved Resolution 691-11, seconded by Mr. Saccocio. Brief discussion followed. Resolution 691-11was unanimously approved.
Since 2004 Metroplex and the City have worked with NYS DEC undertaking soil investigations and remediating small discrete areas of the Clinton South and Broadway South parking lots. With work completed on the Clinton South site, Resolution 692-11 authorizes filing a DEC-mandated environmental easement containing protocol for responding to any future contamination uncovered within the site. Ms. Jordan moved Resolution 693-11; seconded by Mr. Capovani. After brief discussion, Resolution 693-11 was unanimously approved.
6. Accounting Services Contract: Resolution 694-11 — Robert L. Kristel, CPA P.C.
Metroplex staff recommended a $48,000 annual contract with Robert L. Kristel, CPA, P.C. for on-call accounting services, preparing quarterly review statements and year-end financials, bond reporting and assisting with the annual audit. The firm also provides information used by management decision making, planning and meeting regulatory requirements with government agencies. Ms. Jordan moved Resolution 694-11; seconded by Mr. Lewis and unanimously approved.
7. Public Comment: None
8. Board Comment: Mr. Gillen spoke about President Obama’s upcoming visit to Schenectady and the transformation of GE’s campus and the company’s enormous investment in both Schenectady and Niskayuna.
9. Adjournment: Mr. McCarthy moved to adjourn; seconded by Mr. Mantello. The meeting adjourned at 6:30 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes February 9, 2011
Present: Ray Gillen, Brad Lewis, Bob Wall, Gary McCarthy, Neil Golub, Bob Mantello, Patrick Saccocio, Janet Hutchison and Ed Capovani
Absent: Sharon Jordan and Bill Chapman
Others: Neil Levine (Authority Counsel), Jayme Lahut and Jim Callander
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Lewis moved adoption of the January 19, 2011 meeting minutes; seconded by Mrs. Hutchison and approved.
2. Treasurer’s Report: Jayme Lahut reviewed the Income and Operating Expense Report for the period ending January 31, 2011, which was distributed prior to the meeting. He noted that there was little activity to report for January and cash on hand stood at $2,723,616. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Mr. Wall, and approved.
3. Villa Italia Bakery Project: Resolution 695-11 — Subordinate Mortgage
Villa Italia requested that Metroplex subordinate its first position mortgage to a new loan with Trustco Bank. The original 2005 project was largely funded by the Mallozzi family with small loan and grant assistance from Metroplex and the City. Villa Italia’s financial condition is very strong and the project has been an enormous success in downtown Schenectady. Villa Italia employs 45 people. The Trustco loan pays off an existing line of credit and facilitates increased production, new products and more jobs. The Metroplex loan balance is about $285,000. Mr. McCarthy moved Resolution 695-11; seconded by Mr. Saccocio. After brief discussion, Resolution 695-11 was unanimously approved.
4. Duanesburg Waste Water Treatment Plant Study: Resolution 696-11 — Adopt the General Project Plan
The Town of Duanesburg wants to evaluate the costs-benefits of improving and extending the Delanson wastewater treatment system to service the hamlet of Duanesburg. The absence of municipal sanitary services is perceived as an obstacle to business expansion and economic development in the hamlet. Metroplex would make a $20,000 grant in support of the study to offset the $40,000 cost of the study. The project is a Type II action under SEQRA. Mr. Wall moved Resolution 696-11; seconded by Mr. Capovani. Following discussion, Resolution 696-11 was approved.
The resolution listed seven projects where either all work has been completed and Metroplex funds remain unspent or the project has not and will not be completed in the future. The total amount recaptured is $138,533, which may be dedicated to new projects. Jayme Lahut reviewed each project. Mr. Lewis moved Resolution 697-11; seconded by Mr. Capovani and approved.
Jayme Lahut reviewed the three projects identified in Resolution 698-11 that were completed in 2010 and incurred expenses that exceeded Board authorization. The resolution allocates an additional $18,028 for these projects. Mr. Lewis recommended modifying the resolution to clarifying the uses of the extra funds. By consent, the resolution was modified as follows:
RESOLVED, the following projects are hereby classified as completed and require an additional Authority allocation of funds to supplement the project budgets for necessary legal, accounting, construction oversight and other project-related expenses in the amounts shown:
Mr. Golub moved Resolution 698-11 as modified; seconded by Mr. Lewis and approved.
7. Project Update: Jayme Lahut showed photos of progress on the Alco demolition and Foster Building fix up.
8. ABO Board Evaluation: The Authority Budget Office has promulgated an evaluation form that must be completed by all Board members. The results will be aggregated and attached to the Authority’s annual report submission to the ABO by March 3l.
9. Public Comment: None
10. Board Comment: There was discussion about the next phase of the Upper Union Streetscape project. A question was asked about the former Trustco Bank building located on Eire Boulevard. Mr. Gillen made it clear that Metroplex had no involvement in this project.
11. Adjournment — Mr. McCarthy moved to adjourn; seconded by Mr. Wall. The meeting adjourned at 6:45 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes March 9, 2011
Present: Ray Gillen, Brad Lewis, Bob Wall, Sharon Jordan, Gary McCarthy, Neil Golub, Bob Mantello, Janet Hutchison, Bill Chapman and Ed Capovani
Absent: Patrick Saccocio
Others: Jayme Lahut, Jim Callander, Robert Kristel, CPA and James Salengo (DSIC)
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the February 9, 2011 meeting minutes; seconded by Mr. McCarthy and approved.
2. Treasurer’s Report: Robert L. Kristel, CPA, the Authority’s accountant, made an oral presentation reviewing the financial statements for the year ending December 31, 2010, which were distributed to the Board in advance of the meeting. The financials are used by the Authority’s auditors, Bollam, Sheedy, & Torani, in preparing the annual audit. Mr. Kristel reviewed the Balance Sheet, Revenue and Expense Statement, Cash Flow Statement and notes. He explained that the financial statements are prepared in accordance with generally accepted accounting principles. Upon completion of the final year-end audit by BST, the Fiscal Audit Committee will review with the auditors, with Board consideration at the next meeting.
3. Annual Meeting: Resolution 699-11 — Election of Officers
In accordance with provisions of the By-Laws, Resolution 699-11 appoints Sharon Jordan as Secretary and Bob Wall as Treasurer. Mr. McCarthy moved Resolution 699-11; seconded by Mr. Golub and approved unanimously.
4. Downtown Denny’s Façade Grant: Resolution 700-11 — Adopt the General Project Plan
Plans call for renovating the former Friendly’s at the corner of Nott Terrace and Liberty Street by Nott Terrace LLC and conversion to Denny’s restaurant. Renovations take about 6 months, and have already started. Metroplex participation involves a $25,000 façade grant for signage, painting, and awnings. The project is a Type II action under SEQRA. Mr. McCarthy moved Resolution 700-11; seconded by Ms. Jordan. Following brief, Resolution 700-11 was unanimously approved.
5. Downtown Schenectady Improvement Corporation: Resolution 701-11 — Adopt the General Project Plan
The project supports DSIC’s on-going operations, staffing and beautification activities for keeping the downtown clean, neat and safe 7-days a week. Metroplex participation involves a $170,000 grant to DSIC, a reduction from prior years. DSIC clean up occurs, weekdays, weekends and following special events. Seasonal activities include snow plowing at pedestrian crosswalks, hanging flower baskets, maintaining tree beds and maintaining landscaped areas downtown. Mr. McCarthy moved Resolution 701-11; seconded by Mr. Golub. Discussion followed in support of DSIC’s clean-up program. Resolution 701-11 was approved (Mrs. Hutchison abstained).
6. Project Updates — Ray Gillen and Jayme Lahut discussed Foster building stabilization, obtaining Board evaluations for the audit, and distribution of sales tax receipts to the Towns and Villages.
7. Public Comment — Jim Salengo, DSIC Executive Director, thanked the Board for supporting of the Environmental Enhancement Program and the strong working relationship with Metroplex.
8. Board Comment — There was general discussion about a variety of topics including the Van Dyck brewery, the Schenectady Museum, Upper Union Streetscape project and strategic marketing.
Adjournment –- Mr. Golub moved to adjourn; seconded by Mr. Lewis. The meeting was adjourned at 6:45 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes April 13, 2011
Present: Ray Gillen, Brad Lewis, Bob Wall, Sharon Jordan, Gary McCarthy, Neil Golub, Bob Mantello, Janet Hutchison, Bill Chapman and John Mallozzi
Absent: Ed Capovani
Others: Jayme Lahut and Jim Callander
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the March 9, 2011 meeting minutes; seconded by Mr. McCarthy and approved.
2. Treasurer’s Report: Mr. Wall stated that there was nothing unusual to report on the Income and Operating Expense Report for the period ending March 31, 2011 which was distributed prior to the meeting. Cash on hand totaled $2,258,660. He noted that the actual predevelopment expenses for the period are right on target for the year. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Ms. Jordan and approved.
3. 2010 Audit: Resolution 702-11 — Adopt Audit for the Fiscal Year Ending December 31, 2010
Mr. Wall reported that the Fiscal Audit Committee reviewed and recommended adoption of the 2010 audit prepared by Bollam Sheedy & Torani. He noted the audit was clean and unqualified as in past years. There were no changes to the financial statements that Bob Kristel reviewed with the Board in March. Any findings had already been addressed. The audit will be placed on the Authority website and sent to various state and local officials. Mr. Wall moved Resolution 702-11; seconded by Ms. Jordan. After brief discussion, Resolution 702-11 was approved.
4. Operating Policies and Procedures: Resolution 703-11 — General Operating & Financial Policy (Section A)
The General Operating and Financial Policy requires Board review and reauthorization every 3 years. These policies proved the internal system of checks and balances for proper oversight of operational and financial activities. No changes were recommended. Mr. Lewis moved Resolution 703-11; seconded by Ms. Jordan and unanimously approved.
5. Operating Policies and Procedures: Resolution 704-11 — Cash Management and Investment Policy (Section B)
The Cash Management and Investment Policy requires an annual reauthorization. The policy is identical to the NYS Comptroller’s guidelines for municipalities and authorities. Jayme Lahut also reviewed an Investment Report that is now required by the Authority Budget Office. The resolution reauthorizes the policy and accepts the Investment Report. Mr. Wall moved Resolution 704-11; seconded by Mr. Golub and unanimously approved.
6. Operating Policies and Procedures: Resolution 705-11 — Procurement Guidelines (Section C)
The Procurement Guidelines require Board review and re-approval every 3 years. Mr. Golub moved Resolution 705-11; seconded by Mrs. Hutchison. Discussion followed about adhering to the provisions of the Public Authorities Law on procurement. Resolution 705-11 was unanimously approved.
7. Operating Policies and Procedures: Resolution 706-11 — Sale and Reporting of Bonds and Notes (Section E)
The NYS Comptroller sets guidelines with respect to procurement of services in connection with the issuance of bonds, which Metroplex follows for all bond issuances. The policy must be reviewed and reapproved annually. There were no changes. Mr. Lewis moved Resolution 706-11; seconded by Ms. Jordan and unanimously approved.
8. Operating Policies and Procedures: Resolution 707-11 — Real Property Disposition Policy (Section F)
The policy follows the guidelines posted by the Authority Budget Office with respect to selling personal property and real property valued in excess of $5000. Resolution 707-11 reauthorizes the policy, reaffirms the Executive Director as Contracting Officer for monitoring policy compliance and accepting the annual Real Property Disposition Report that was reviewed by Jayme Lahut. Resolution 707-11; seconded by Mr. Wall. After discussion, Resolution 707-11 was unanimously approved.
The policy sets forth the Authority’s policies for its loan portfolio including the responsibilities and obligations of the Fiscal Audit Committee and the Board. The policy must be reviewed and re-approved every three years. Mr. Lewis moved Resolution 708-11; seconded by Ms. Jordan. There was no discussion. Resolution 708-11was unanimously approved.
10. Operating Policies and Procedures: Resolution 709-11 — Reauthorize Master Goal Plan for Minority / Women-owned Business Enterprises (Section H)
The policy addresses the requirements under Executive Law 15-A for procuring and using State-certified MWBE businesses in acquiring goods and services. Jayme Lahut explained that new changes in the requirements are pending with the State. Mr. Lewis moved Resolution 709-11; seconded by Mrs. Hutchison. Discussion followed about on-going efforts county-wide of getting more businesses certified by New York State as MWBEs. Resolution 709-11 was approved.
11. Public Comment — None
12. Project Updates — Mr. Lewis moved to convene in executive session to discuss certain legal issues related to a real estate matter; seconded by Mr. Mantello. At 6:20 p.m. the Board met in executive session and reconvened publicly at 6:30 p.m. Mr. Gillen stated that no voting occurred during the executive session. Discussion followed about various projects and issues.
13. Adjournment — Mr. Wall moved to adjourn; seconded by Ms. Jordan. The meeting was adjourned at 6:40 p.m.
Schenectady Metroplex Development Authority Board Meeting Minutes April 29, 2011
Present: Ray Gillen, Bob Wall, Gary McCarthy, Neil Golub, Bob Mantello, John Mallozzi, Janet Hutchison, Bill Chapman and Ed Capovani
Absent: Brad Lewis and Sharon Jordan
Others: Jayme Lahut and Scott Cietek
Call to Order: Mr. Gillen called the meeting to order at 8:00 a.m.
1. Approval of Minutes: Mr. Mantello moved adoption of the April 13, 2011 meeting minutes; seconded by Mr. Wall and approved.
2. Hometown Health Center (Schenectady Family Health Services): Resolution 710-11 — Amend the General Project Plan
In 2004 the Authority made a $1.5 million construction / permanent loan for 15 years (20-year amortization) at 0 percent interest as part of a $6.1 million project to expand Schenectady Family Health Services (d/b/a/ Hometown Health). In November 2010, Hometown Health was awarded a $2.5 million HEAL grant for reducing its debt from $33,854 per month to $18,212 by allotting grant proceeds to Metroplex ($475,000) and CPC ($1,140,000). Resolution 710-11 consented to the transaction as well as extended Metroplex’s loan term from 15-years to 20-years thereby matching the loan terms of the other two lenders. Mr. Wall moved Resolution 710-11; seconded by Mrs. Hutchison. Following discussion, Resolution 710-11 was approved.
3. Public Comment: None
4. Board Comment: Mr. Gillen updated members on several projects including SCCC’s plans for a new music building.
5. Adjournment — Mr. McCarthy moved to adjourn; seconded by Mr. Mantello. The meeting adjourned at 8:20 a.m.
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