PRESENT:

___MIKE FITZGERALD, CHAIRMAN
___SUE COLLINS, VICE CHAIRMAN
___JOSEPH GILLIS, SECRETARY
___JOSEPH SEMIONE, MEMBER
___DAVID D’AMORE, MEMBER
___DR. GREG TRUCKENMILLER, MEMBER
___DAN ROUNDS, MEMBER (zoom)
___JAMES MRAZ, EXECUTIVE DIRECTOR
___KARA LAIS, FITZGERALD, MORRIS, BAKER, FIRTH PC (zoom)
___SCOTT HENZE, PLANNING DIRECTOR
___TOM ROEHL, LIASON ECONOMIC DEVELOPMENT & ENVIRONMENT COMMITTEE
___TERRI EASTERLY, FCCRG (zoom)

MOTION        :
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MOTION :
MADE BY :
SECONDED :
VOTE               :

A. Nominating Committee

• No report.

B. Audit Committee:

• Monthly Bank Reconciliation Report:  Dave D’Amore

C. Governance Committee:

• No report.

D. Finance Committee:

•  No report.

1. FCCRG Report: (See attached.) Terri Easterly

1. Easement:

Nexus has obtained required easement from Innovative Industrial Properties (IID).

IDA DISCUSSION:

• IDA received the annual option payment from Winstanley Enterprises.
• Sent Winstanley information on NY Loves Nano website:www.nylovesnano.com
• Suggested including this information on the Tryon website.

IDA DISCUSSION:

• At February 13, 2024 meeting, IDA Board authorized emergency repair work to be performed at the Tryon Wastewater Pump Station.
• The emergency work to replace the check and gate valves was completed by Adirondack Septic on February 29, 2024.
• The emergency work to program the float to ring at the 911 center was completed by General Control Systems on February 21, 2024.

1. Current T-Bills:

• At the February 13, 2024 meeting, the IDA Board authorized the Chairman to execute a Listing Agreement with Howard Hannah and authorized CBRE to prepare an appraisal on a 25+/- acre parcel in the Crossroads Business Park.
• Listing Agreement has been executed.
• Howard Hannah is working on marketing materials and sign.
• CBRE is finalizing the appraisal.
• Contacted Mayor DeSantis to request having City remove barricades on Kathy’s Way and to run street sweeper along Kathy’s way.

IDA DISCUSSION:

1. Key Finding:

• West and Company has completed its audit of the IDA 2023 financial statements.
• Based upon West & Company’s review West & Company has issued san“unmodified opinion.”
• This is the best opinion the IDA can receive.
• The IDA has consistently received unmodified opinions on its audits.
• Draft Audit was emailed to IDA Board members on February 26, 2024.

 2. Review Audit: West & Company: Any Pedrick

• See Handout

IDA DISCUSSION:

IDA ACTION:

MOTION:              To approve the 2023 Audit as submitted by the West & Company and authorize West & Company and the Executive Director to file the Audit in PARIS and with Fulton County Treasurer, Commissioner of Department of Economic Development, NYS Comptroller and to post it on the IDA’s website.

MADE BY:

SECONDED:

VOTE:

• IDA’s 2023 Annual Report has been prepared in accordance with the ABO’s requirements.
• Report was emailed to IDA Board members on February 26, 2024.

IDA DISCUSSION:

IDA ACTION:

MOTION:       To approve the 2023 Annual Report and authorize and direct the Executive Director to file the Annual Report under PARIS and with the Board of Supervisors and post the report on the IDA’s website

MADE BY:

SECONDED:

VOTE:

• Fulton County hired the MRB Group to prepare a new Development Strategy.
• The IDA Board previosly agreed to contribute $25,000 toward the cost of preparing this strategy.
• It is recommended that the IDA execute an Agreement with Fulton County to provide these funds to the County.

IDA DISCUSSION:

IDA ACTION:

MOTION:          To authorize the Chairman to execute an Agreement with Fulton County regarding the IDA’s $25,000 contribution towards the cost of preparing a new Development Strategy.

MADE BY:

SECONDED:

VOTE:

• April 23-24, 2024
• 9:00 am-4:00pm
• Herkimer College

IDA DISCUSSION:

The following is the step-by-step procedure the IDA utilizes when a person, business, corporation or other entity seeks financial incentives:

1. A person, business, corporation or other entity (APPLICANT) contacts the Executive Director (Ex.Di.) to discuss a proposed project. The APPLICANT submits to the Ex.Di. a 2-3 paragraph project description including the projected private investment, number of new jobs to be created, number of existing jobs to be retained and a project schedule.
2.   Ex.Di. sends the project description to IDA Counsel to review and        determine if the proposed project is eligible, under New York State’s General Municipal Law, to receive IDA financial incentives.
3. If eligible, the Ex.Di. advises the APPLICANT to have their Counsel contact IDA Counsel to determine a project structure.
4. Ex.Di. advises APPLICANT to prepare a draft Project Application and submits it to the ExDi to review and provide comments. A final Project Application is then prepared and officially submitted to the Ex.Di.
5.   5. Ex.Di. then:

a) Distributes the Project Application to IDA Board members and IDA Counsel.
b)  Calculates the real property tax exemptions requested in Section 7 of the Project Application and sends it to IDA Counsel.
c)  Puts the Project Application onto the Agenda for the next IDA Board meeting.
d)  Establishes a Project Number based upon the coding system established by the NYS Comptroller.

6. At the first IDA Board meeting:

a) The Project Application is reviewed and discussed.
b) The financial incentives requested are reviewed and discussed.
c) The Board reviews the application and the financial incentives requested and makes a determination on whether the proposed project qualifies to receive financial incentives.
d) The IDA Board takes an action to commence a Coordinated SEQR Review by:

• Classifying the proposed project.
• Proposing itself to serve as Lead Agency.
• Authorizing the distribution of the Part I Environmental Assessment Form (EAF) to all Involved Agencies asking for their consent to having the IDA serve as Lead Agency.

e) If the Project Application requests financial incentives greater than  $100,000, the IDA Board:

• Adopts a resolution scheduling the date and time to conduct a public hearing on the proposed project.
• Schedules the public hearing to be in the municipality where the proposed project would be located.

7. Following the first IDA Board meeting:

a) IDA Counsel sends a legal notice to the Leader Herald to publish regarding the public hearing.
b) IDA Counsel sends letters, by certified mail, to each taxing jurisdiction, informing them of the public
c) Ex.Di. sends a letter and a copy of the Part I EAF to all Involved Agencies asking for their consent to having the IDA Board serve as SEQR Lead Agency.

8. Ex.Di. conducts the public hearing, prepares minutes and sends them to  IDA Counsel.

9.  At the next IDA meeting, the IDA Board:

a) Reviews Part II of EAF.
b)  Reviews comments from Involved Agencies.
c)  Issues Determination of Significance/Part III EAF:

-If Positive Declaration is issued, proceed to DEIS/FEIS.
-If Negative Declaration is issued, SEQR is completed.

d) Adopts a Resolution:

1.   Designating a Project Operator/Sponsor.
2.   Authorizing granting of financial incentives.

10.  Following the IDA Board meeting:

a) IDA Counsel prepares a ST-60 form designating a Project Operator and files the form with the NYS Department of Taxation and Finance and with the Ex.Di.
b)  If real property tax exemptions were approved, IDA Counsel has a PILOT Agreement executed by both parties and files the PILOT with all affected local taxing jurisdictions.
c)  If sales tax exemptions were approved by the IDA Board, IDA Counsel  prepares a Sales Tax Exemption letter and an ST-123 form and submits  them to the Project Operator. These documents identify the sales tax  reporting requirements the Project Operator must comply with.
d)  IDA Counsel arranges for all documents to be executed by both parties. All documents are executed.
e)  Ex.Di. distributes Part III EAF in accordance with SEQR Regulations.
f)  IDA Counsel conducts closing and obtains:

– IDA Administrative Fee
–  IDA Counsel Fee

IDA DISCUSSION:

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.

MADE BY      :
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MOTION        :           To go out of Executive Session.

MADE BY      :
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TIME              :

Tuesday
April 9, 2024
8:00 a.m.

MOTION        :

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