PRESENT:

MIKE FITZGERALD, CHAIRMAN
SUE COLLINS, VICE CHAIRMAN
TODD RULISON, TREASURER
DAVID D’AMORE, MEMBER
GREG TRUCKENMILLER, MEMBER
JAMES MRAZ, EXECUTIVE DIRECTOR
KARA LAIS, FITZGERALD, MORRIS, BAKER, FIRTH PC
SCOTT HENZE, PLANNING DIRECTOR
TIM BECKETT, FULTON COUNTY CENTER FOR REGIONAL GROWTH

MOTION        :           Accept as presented.
MADE BY      :           Greg Truckenmiller
SECONDED  :           Todd Rulison|
VOTE             :           Unanimous

MOTION        :           Accept as presented.
MADE BY      :           Mike Fitzgerald
SECONDED  :           Sue Collins
VOTE             :           Unanimous

A. Nominating Committee

• No report.

B. Audit Committee:

• Monthly Bank Reconciliation Report:  Todd Rulison

IDA DISCUSSION:  Todd Rulison approved the Monthly Bank Reconciliation Reports.

C. Governance Committee:

• No report.

D. Finance Committee:

•  No report.

1. Fulton County Report:
2. FCCRG Report: (See attached.)  Tim Beckett

IDA DISCUSSION:  Tim Beckett reviewed the CRG Report that was attached to the Agenda.  He emphasized that the EPA wants to get Brownfield properties back onto the tax rolls and has funds to assist in doing so.

• Nexus has received National Grid’s approval of the interconnect.
• Nexus will now look to obtain quotes to construct solar project.
• Nexus is working with Vireo to obtain an easement along the rear of Vireo’s property to run its electric lines from the solar project to the interconnect point with National Grid’s electric lines.

• No report.

• Punchlist was prepared and submitted to Koval.
• Once punchlist is complete, final payment will be processed.
• General Control Systems installed the UPS and reprogrammed the pumps.
• Last step is to connect the Mission Communications Remote Telemetry Unit. The Unit has been in place.  Mission Communications has been waiting for the UPS to be installed and the pumps reprogrammed before connecting their unit.
• This Unit will allow the generator and sewer pumps to communicate with the County’s 911 Center.

1. Sales Tax Exemptions:

a. On July 13, 2021, the IDA Board approved granting up to $2,251,520 in sales tax exemptions.

b. On August 9, 2022, the IDA Board authorized increasing the total sales tax exemptions available from $2,251,520 to $3,284,534 contingent upon Vireo signing either a standard Lease or an Agent and Equipment Lease.

c. On May 9, 2023, the IDA Board authorized extending from May 31, 2023 to October 31, 2023 the deadline for using sales tax exemptions. This approval was granted contingent upon Vireo signing an Agent and Equipment Lease and paying the balance of the Administrative Fee owed the IDA.

d. On October 10, 2023, the IDA Board extended the deadline to March 31, 2024.

1. T-Bill due on November 2, 2023:

• T-Bill 1 expired on November 2, 2023.
• The expiring T-Bill had a rate of 4.540%
• Board members were e-mailed on November 1^st with the current T-Bill rates as shown below:

3-month         : 5.23%
6-month         : 5.416%
9-month         : 5.33%
12-month       : 5.33%

• It was the consensus of all IDA members to renew this T-Bill for 6 months.

IDA DISCUSSION:   Jim Mraz reviewed the information on the Agenda.  He asked if there were any questions.  There were none.

IDA ACTION:

MOTION:                   To retroactively approve renewing T-Bill 1 for 6 months.

MADE BY:                 Sue Collins
SECONDED:             Dave D’Amore
VOTE:                        Unanimous

2. T-Bill due on November 16, 2023:

• T-Bill 3 expires on November 16, 2023.
• The expiring T-Bill had a rate of 5.096%
• The current T-Bill rates as of November 13, 2023 are shown below:

3-month         :       5.141%
6-month         :       5.216%
9-month         :       5.242%
12-month       :       5.264%

IDA DISCUSSION:  Jim Mraz reviewed the information on the Agenda.  There was a brief discussion on the term for renewing this T-Bill.  After a brief discussion, it was agreed to renew the T-Bill for six (6) months.

IDA ACTION:

MOTION:                   To approve renewing T-Bill 3 for 6 months.

MADE BY:                 Mike Fitzgerald
SECONDED:             Greg Truckenmiller
VOTE:                        Unanimous

1. Background:

• Fulton County completed its existing Development Strategy in 2018.
• Fulton County has budgeted funds to update that Strategy in 2024.
• IDA Board has agreed to contribute $25,000 towards the cost of this update.
• Fulton County will be hiring a professional consultant to update the Development Strategy.

2. Housing:

• A key component of the professional consultant’s work will be to assess housing needs in the County and to develop a Strategy/Plan to address those needs.

3. 2018 Housing Strategy: Key Findings:

a. There is a shortage of new single-family professional and executive level housing in the County.
b. There is a current and future need for a variety of housing options for empty nesters to accommodate their increased mobility, reduce maintenance demands and encourage the turn-over of housing that would appeal to younger families.
c. There is a shortage of mixed-use neighborhoods outside of the Cities. These types of neighborhoods appeal to the nation’s largest demographic segments: baby boomers and millennials.
d. There is strong current and future demand for new senior housing to meet changing lifestyles and accessibility needs in the form of apartments and patio homes which are smaller, easier to maintain and provide a good bridge to retirement for many households.
e. There are a number of formerly productive, but currently vacant, institutional and manufacturing properties. Some can be adaptively reused but others will need to ne demolished, at least in part, and redeveloped.
f. The Cities need rich amenities to attract people to live in downtown. Mixed-use places with gathering spaces, public art, open space, recreation trails, attractive streetscapes, Wi-Fi access and adequate and safe parking are needed to meet the contemporary expectations of residents and visitors.  Housing is going to occur first in those communities that have these amenities.
g. Fulton County currently only has a modest supply of market-rate senior housing. Of the 13 housing developments in Fulton County identified by NYS Homes and Community Renewal, only 3 are market rate and/or mixed age and all report waiting lists and/or very low vacancy rates largely related to natural turnover each year.
h. There is a lack of:

1.  Mixed-use development options.
2. Downtown housing that appeals to millennials.
3. Professional and executive level housing.

i. There has been recent, historical and ongoing competition from development of new market-rate and affordable housing in nearby Saratoga and Schenectady County communities surrounding Fulton County. There is also competition with seasonal homeowners for housing in smaller communities.
j. There is limited housing choice and diversity of housing products. Most of the County’s existing housing is older and dated (85% built prior to 1990) and does not meet modern lifestyles and interests, effecting prices and value trends.

4. Other Current Housing Issues:

• Homelessness is increasing in Fulton County.
• Current market trends are pricing many people out of the home buying market.
• Current rental property options are limited and deteriorating.
• Many rentals are converted single-family homes with absentee landlords.
• Tenant/Landlord relations are strained for many, on both sides. This leads to reduced trust and resentment causing tenants to abuse apartments and landlords to evict tenants.
• Many landlords do not keep up with basic maintenance.
• Local school districts are experiencing a high rate of transience that is impacting the quality of the educational experience in our communities. These high transience rates are related to unstable housing practices, destabilized family dynamics and high levels of social/neighborhood dysfunction and crime.
• The lack of diverse, clean and affordable housing is a disincentive for staying in or relocating to Fulton County.
• The cost of new housing construction is higher post pandemic, making it harder for families to transition to new homes to make more affordable capacity within the market.

5. Scope of Work:

• The Consultant to be hired will be charged with putting together a plan/strategy to identify and address the various housing needs/issues in the County.
• See handout for draft scope of work.

IDA DISCUSSION:   Jim Mraz reviewed the information on the Agenda.  He then directed Board members to the draft Scope of Work that was attached to the Agenda.  He reviewed the entire Scope of Work with IDA Board members.  Based upon their review, the following comments were offered:

• Under Background, Section Paragraph B, the word increased should be changed to “decreased”.
• With respect to the data to be collected and analyzed, data at both the National and County levels should be collected and terms identified.
• With respect to School Districts participating in Housing Roundtable meetings, Superintendents should be the individuals invited.
• With respect to the representatives who would be attending the Housing Roundtable meetings, the following additional representatives were recommended be added:

1. Estee
2. Hillside Place
3. 52 Church Street
4. Helmut Phillip
5. Trish Isabella
6. NYS Housing and Community Renewal (HCR)

Mike Fitzgerald suggested that the Consultant look at historic tax credits, Restore NY, Brownfields and National Grid for grant funds to help implement housing projects.  Jim Mraz explained that the Request for Proposals (RFP) includes a work task for the Consultant to identify potential grant programs to help pay for implementing all recommendations in the updated Development Strategy.  He stated that the updated Strategy will involve three (3) main components:

1. Economic development
2. Housing
3. Tourism

He stated the RFP will ask the Consultant to develop 3-year programs for each of those subject areas and to identify grant programs to implement recommended projects in each area.

1. Public Authorities Law:

• Section 2824(2) of the Public Authorities Law, as amended by Section 18 of the Public Authorities Accountability Act, requires new directors to “participate in State approved training regarding their legal, fiduciary, financial and ethical responsibilities as board members of an authority within one year of appointment to a board.”
• It also requires board members to “participate in such continuing training as may be required to remain informed of best practices, regulatory and statutory changes relating to the effective oversight of the management and financial activities of public authorities and to adhere to the highest standards of responsible governance.”
• The Act requires directors to participate in continuing training to “remain informed of best practices, regulatory and statutory changes relating to the effective oversight of the management and financial activities of public authorities and to adhere to the highest standards of responsible governance.”
• As a best practice, the ABO recommends that directors participate in refresher training upon re-appointment to the Board or at least every three (3) years.
  

2. 2023 Board Training:
   
   A. The IDA Board has been receiving regular training updates at its monthly meetings.
   B. So far, in 2023, the IDA Board received training on the following topics:
3. Reviewed Public Authorities Law that requires the IDA to annually prepare five (5) reports:
   a. Annual Report:
   b. Independent Audit:
   c. Investment Report:
   d. Procurement Report:
   e. Budget Report: 

2. Reviewed Key Reporting Dates for 2023.
3. Reviewed new State laws that were adopted in 2022 affecting IDA’s.
4. Reviewed information on NYS’s Public Work Enhancement Fund.
5. Reviewed Fulton County’s 2018 Housing Strategy’s findings and recommendations.
6. Reviewed and Updated Property Disposition Policy.
7. Reviewed types of projects IDA’s are authorized to participate in which includes:

• Industrial
• Manufacturing
• Warehousing
• Commercial
• Research and recreation facilities
• Industrial pollution control facilities
• Educational or cultural facilities
• Railroad facilities
• Horse racing facilities
• Automobile racing facilities
• Continuing care retirement communities
• Retail: Retail component of total project cost can’t exceed 33%

8. Reviewed information obtained from NYSEDC’s Spring IDA Academy.
9. Reviewed information obtained at Brownfield’s Summit.
10. Reviewed IDA Mission Statement. Based upon this review, it was decided to keep the Mission Statement as is but to add the Tagline:

“We incentivize development opportunities.”

11. Reviewed new IDA’s incentivize housing projects.
12. Met with David Kimmel, President Two Plus Four Construction, to discuss the development of new housing.
13. Reviewed how other counties incentivize housing projects by having different types of PILOT models.
14. Reviewed and revised the Uniform Tax Exemption Policy by adding new project definitions and adopting new PILOT schedules for these different types of projects.
15. Reviewed and completed Annual Board Performance Questionnaire.
16. Reviewed and revised the IDA’s Internal Financial Control System.

C. Do Board members believe this training is satisfactory? If not, what topics would Board members desire to have training provided on?

IDA DISCUSSION:  Jim Mraz reviewed the information on the Agenda.  He asked Board members if they felt the ongoing training being provided was addressing the requirement that Board members participate in ongoing training.  It was the consensus of all present that the monthly Board training being provided was acceptable.

3. IDA Board Performance Questionnaire:

a. Background:

• The 2009 Public Authorities Reform Act requires that board members of every state and local public authority conduct an annual evaluation of its performance. The IDA’s Policy 10-5 also requires Board members to complete this annual evaluation.
• Board member comments are protected from disclosure under Article 6 of Public Officers Law, but the results of the assessment are to be provided to the ABO.
• This annual assessment is a reminder to each board member of their duties, why those responsibilities are important, and whether they are performing those duties appropriately. The evaluation provides an opportunity for board members to measure their individual and collective effectiveness, determine if they are following their own policies and procedures, identify areas for board improvement, and to compare how their evaluation of the board’s performance compares to that of other board members.
• If the evaluation demonstrates the need for the board to improve its performance, amend its practices or procedures, or clarify its expectations of board members, the board is expected to implement suitable corrective actions immediately.

b. 2023 Board Performance Questionnaire:

• See Handout.

IDA DISCUSSION:   Jim Mraz asked Board members present to complete the Questionnaire.  All present completed and turned in the Questionnaire.

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      :           Dave D’Amore
SECOND        :           Sue Collins
VOTE             :           Unanimous

TIME              :           8:45 a.m.

MOTION        :           To go out of Executive Session.

MADE BY      :           Dave D’Amore
SECOND        :           Todd Rulison
VOTE             :           Unanimous

TIME              :           9:42 a.m.

Tuesday
December 12, 2023
8:00 a.m.

MOTION        :           To close the meeting.

MADE BY      :           Sue Collins
SECONDED  :           Dave D’Amore
VOTE             :           Unanimous

TIME              :           9:42 a.m.