PRESENT:

___JOSEPH SEMIONE, CHAIRMAN
___MIKE FITZGERALD, VICE CHAIRMAN
___TODD RULISON, TREASURER
___JOSEPH GILLIS, SECRETARY
___DAVID D’AMORE, MEMBER
___SUE COLLINS, MEMBER
___DR. GREG TRUCKENMILLER, MEMBER
___JAMES MRAZ, EXECUTIVE DIRECTOR
___KARA LAIS, FITZGERALD, MORRIS, BAKER, FIRTH PC
___SCOTT HENZE, PLANNING DIRECTOR
___DR. LESLIE FORD, FULTON COUNTY CENTER FOR REGIONAL GROWTH
___JACK WILSON, LIAISON, ECONOMIC DEVELOPMENT AND ENVIRONMENT COMMITTEE

MOTION        :
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MOTION :
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VOTE               :

A. Nominating Committee

• No report.

B. Audit Committee:

• Monthly Bank Reconciliation Report:   Todd Rulison

C. Governance Committee:

• No report.

D. Finance Committee:

•  No report.

1. Fulton County Report:  Jack Wilson
2. FCCRG Report: (See attached.) Dr. Leslie Ford

1. Status Report:

• FCCRG’s Site Committee met on June 23, 2022.
• Follow-up meeting to be scheduled.

1. Option Term:

• At June 14, 2022 meeting, IDA Board agreed to extend Option Term in Lease Agreement to December 31, 2022 contingent upon Nexus paying IDA’s legal fee invoice sent to Nexus on March 2, 2022.
• Jim Mraz emailed Nexus regarding the Board decision.
• To date, no payment has been received.

1. Sale of Vireo Health to Verano Holdings:

• Both companies are seeking shareholder approval of the proposed sale.

2. Status of Construction:

• Construction ongoing.
• Verano has made changes to the interior layout of the 324,000 sf building currently under construction.
• Work on interior has commenced.

3. PILOT/Lease:

• Working with Vireo Health to complete the Lease/PILOT Agreements for its 324,000 SF building.

4. Sales Tax Exemption:

a. Background:

1. On July 13, 2021, the IDA Board adopted a Resolution regarding the Vireo Health Project that:

a) Appointed Vireo Health as the IDA’s Project Agent.
b) Established the total project cost to be $55,000,000.
c) Approved granting up to $2,251,520 in sales tax exemptions.
d) Set July 31, 2022 as the date when the sales tax exemptions expire.

b. Requests from Vireo Health:

1. Vireo Health has submitted a formal request to:

a) Increase the project cost from $55,000,000 to $77,465,438.
b) Increase the amount of sales tax exemptions they can take from $2,251,520 to $3,284,535.
c) Extend the deadline for taking sales tax exemptions from July 31, 2022 to May 31, 2023.

2. Vireo Health is making these requests because:

a) Unanticipated costs incurred.
b) Significant escalation in cost of building materials.
c) Delays in completing project due to proposed acquisition by Verano Holdings and redesigning and re-permitting the project.

c. Deadline for Receiving Sales Tax Exemptions:

• At the July 12, 2022 meeting, the IDA Board approved extending the deadline for which Vireo can use their sales tax exemptions from July 31, 2022 to May 31, 2023.

d. Public Hearing:

• Vireo’s request for an increase in the total sales tax exemptions they can claim will result in providing more than $100,000 in additional benefits to the project. As a result, a public hearing must be held.
• A public hearing was held on Tuesday, July 26, 2022, at 10:00 a.m. in Perth Town Hall.
• No one spoke at public hearing.

e. Resolution Approving Increase in Sales Tax Exemptions:

• See attached Resolution.

IDA DISCUSSION:

IDA ACTION:

MOTION:

MADE BY:
SECONDED:
VOTE:

• Construction ongoing.

• Winstanley’s Tryon Technology Park website is now up and running: tryontechnologypark.com.
• Winstanley targeting December 20, 2022 to close on purchasing lands in Tryon Technology Park.

1. Back-up Generator Project:

• EDP has approved Koval’s submittal on generator and automatic transfer switch.
• Both items have been ordered by Koval.
• Both items projected to be delivered in September.

2. Sale of Land to Lott Holdings:

• Survey has been completed.
• Kara Lais preparing documents to close.

3. Survey:

• Waiting for survey of two (2) parcels to be deeded to Fulton County Sewer District No. 4.

4. 90-Day Notice to New York State:

• Kara Lais sent the 90-day letter to the State dated June 9, 2022.
• 90-day period ends on September 8, 2022.

IDA DISCUSSION:

• Met with Kevin Corkery, Financial Consultant for NBT Bank, to go over process for investing in Treasury Bills.
• Three (3) forms need to be completed and submitted to NBT.
• Need to create a brokerage account with NBT to use to transfer funds from Money Market account into.
• Targeted August 16^th as date to purchase T-Bills.

IDA DISCUSSION:

• Agreement with DCG Corplan has been executed.
• Processed down payment per Agreement.
• Reviewed questions DCG Corplan is proposing to ask in Business Survey.
• Survey Monkey will be used.
• DCG Corplan has contacted Chamber of Commerce for assistance in getting word out about survey and asking Chamber members to participate in survey.
• The CRG was also contacted to encourage its members to participate in the survey.
• The survey is expected to go live on August 15^th and run for three (3) weeks.

IDA DISCUSSION:

1. Occupancy in Fulton County’s Four (4) Existing Industrial/Business Parks:
   

a. Johnstown Industrial Park:

1. Background:

• At present, there are 14 completed buildings located on the 17 lots in the Johnstown Industrial Park:

– Two (2) lots are vacant.

* One is owned by Pioneer Windows on Union Avenue Extension.
* One is a 20-acre parcel owned by the IDA on Opportunity Drive.

– One (1) lot has a partially completed building that was previously owned by Johnstown Renewables.   

2) Buildings:

• All 14 completed buildings in the Park are currently occupied and being used.
• These 14 buildings total over 2.2 million sf of space.

3) 10 Companies Located in these 14 Buildings:

• Benjamin Moore
• Pioneer Windows (3 buildings)
• Walmart Food Distribution
• FAGE (2 buildings)
• Euphrates (2 buildings)
• Electrometrics
• DHL Supply Chain
• K & M Tire

– K & M Tire is a family-owned regional tire distributor headquartered in Delphos, OH.  K & M owns and operates 33 distribution centers throughout the Great Lakes, Midwest and Great Plains regions and distributes 50+ brands of passenger, light truck and medium truck tires and 12+ brands of agricultural, industrial and specialty tires.  K & M offers numerous associate dealer and marketing programs to tire retailers across the United States.  Because K & M does not own or operate any retail locations, nor does it sell directly online to consumers.

• Propak Logistics

-Propak is a proactive provider of leading-edge logistics, transportation and supply chain management solutions. Propak provides reverse logistics, warehousing, transportation, packaging and technology solutions.

• Frasier Enterprises

b. Crossroads Industrial Park:

1. Background:

• At present, there are 9 lots in the Crossroads Industrial Park:

– There are 7 buildings.
– Two (2) lots are vacant totaling 6.3 acres.

2) Buildings:

• All 7 buildings in the Park are currently occupied and being used.
• These 7 buildings total over 437,000 sf of space.

3) 6 Companies Located in these 7 Buildings:

• Lippert
• Midwest Fasteners
• Inmar (2 buildings)
• Century Linen
• NE Water Jet
• Alnico

c. Crossroads Business Park:

1. Background:

• At present, there are 23 lots in the Crossroads Business Park:

– There are 2 buildings.
– 21 lots are vacant.

2) Buildings:

• The 2 buildings in this Park are currently occupied and being used.
• These 2 buildings total over 36,000 sf of space.

3) 2 Companies Located in these 2 Buildings:

• EPIMED
• Wells Fargo

d. Tryon Technology Park:

1. Background:

• At present, there are 8 lots at Tryon:

– There is 1 completed building.
– There is 1 building under construction.
– There are 6 vacant lots.

2) Buildings:

• 1 building is occupied and being used.
• 1 building is under construction.
• The 2 buildings total 379,000 sf of space.

3) 1 Company Located in the 1 Existing Building:

• Vireo Health of NY

2. Property Taxes Generated by Companies in each Park:

• See attached.

3. Summary:

4. Key Findings:

• At present, there are 24 completed buildings in Fulton County’s four (4) industrial/business parks.
• At present, all 24 buildings are occupied and in use.
• There is one (1) new building under construction (Vireo).
• There is one (1) partially completed building (Johnstown Renewables).
• 20 companies currently occupy these buildings.
• Several companies occupy two (2) or more buildings.
• The 20 companies in these four (4) Parks generate over $126,000,000 in assessed valuation. This is equivalent to 1,260 homes assessed at $100,000 each.
• These 20 companies paid over $5 million in property taxes to local taxing jurisdictions in 2022.
• These 20 companies currently employ approximately 2,000 people.

1. Upon a majority vote of its total membership, taken in an open meeting pursuant to a motion identifying the general area or areas of the subject or subjects to be considered, a public body may conduct an executive session for the below enumerated purposes only, provided, however, that no action by formal vote shall be taken to appropriate public moneys:

i. matters which will imperil the public safety if disclosed;
ii. any matter which may disclose the identity of a law enforcement agent or informer;
iii. information relating to current or future investigation or prosecution of a criminal offense which would imperil effective law enforcement if disclosed;
iv. discussions regarding proposed, pending or current litigation;
v. collective negotiations pursuant to article fourteen of the civil service law;
vi. the medical, financial, credit or employment history of a particular person or corporation, or matters leading to the appointment, employment, promotion, demotion, discipline, suspension, dismissal or removal of a particular person or corporation;
vii. the preparation, grading or administration of examinations;
viii. the proposed acquisition, sale or lease of real property or the proposed acquisition of securities, or sale or exchange of securities held by such public body, but only when publicity would substantially affect the value thereof.

MOTION:  To go into Executive Session to discuss the proposed acquisition, sale or lease of real property or the proposed acquisition of securities, or sale or exchange of securities held by such public body, but only when publicity would substantially affect the value thereof.

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MOTION        :           To go out of Executive Session.

MADE BY      :
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Tuesday
September 6, 2022
8:00 a.m.

MOTION        :

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