PRESENT:

JOSEPH SEMIONE, CHAIRMAN
MIKE FITZGERALD, VICE CHAIRMAN
TODD RULISON, TREASURER
DAVID D’AMORE, MEMBER
SUE COLLINS, MEMBER
GREG TRUCKENMILLER, MEMBER
JAMES MRAZ, EXECUTIVE DIRECTOR
KARA LAIS, FITZGERALD, MORRIS, BAKER, FIRTH PC
SCOTT HENZE, PLANNING DIRECTOR
TRAVIS MITCHELL, FULTON COUNTY CENTER FOR REGIONAL GROWTH
JACK WILSON, LIAISON, ECONOMIC DEVELOPMENT AND ENVIRONMENT COMMITTEE

(Joe Semione arrived at 8:05 a.m.)

MOTION        :           Accept as presented.
MADE BY      :           Dave D’Amore
SECONDED  :           Sue Collins
VOTE             :           Unanimous

MOTION        :           Accept as presented.
MADE BY      :           Mike Fitzgerald
SECONDED  :           Dave D’Amore
VOTE             :           Unanimous

A. Nominating Committee

• No report.

B. Audit Committee:

• Monthly Bank Reconciliation Report:   Dave D’Amore

IDA DISCUSSION:  Dave D’Amore approved the Monthly Bank Reconciliation Reports.

C. Governance Committee:

• No report.

D. Finance Committee:

•  No report.

1. Fulton County Report:  Jack Wilson
2. FCCRG Report: (See attached.)  Travis Mitchell

IDA DISCUSSION:  Travis Mitchell reviewed the monthly report from the FCCRG that was attached to the Agenda.  He stated that the California sewing operation is still looking for a location in Fulton County.  He stated that Ron Peters attended a recent nano conference.  He reviewed the work the CRG is doing in administering the CARE and Microenterprise grants.  He stated that interviews have been conducted for the Downtown Development Specialist.

1. Status Report:

• FCCRG’s Site Committee met on June 23, 2022.

• 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.
• At September 6, 2022 meeting, IDA Board agreed to extend Option Term in Lease Agreement to June 25, 2023 contingent upon Nexus paying IDA’s legal fee invoice.
• On September 8^th, Jim Mraz emailed Keith Sandor an Amendment to Lease extending option date to June 25, 2023 to sign and return with check.

IDA DISCUSSION:   Jim Mraz stated that he has a Zoom call with Nexus Renewables at 10:30 a.m. today.

1. Sale of Vireo Health to Verano Holdings:

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

2. Status of Construction:

• Construction ongoing.

3. PILOT/Lease:

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

4. Increase in Sales Tax Exemptions:

• At August 9, 2022 meeting, IDA Board approved increasing the total amount of sales tax exemptions Vireo can take contingent upon Vireo signing either a Standard Lease or Agent and Equipment Lease with the IDA.

IDA DISCUSSION:   Kara Lais stated that she remains in contact with Vireo’s counsel regarding getting the lease and PILOT Agreements executed.

• Carwash opened during the week of September 5^th.

• Winstanley targeting December 20, 2022 to close on purchasing lands in Tryon Technology Park.

1. Back-up Generator Project:

• ATS scheduled to be delivered in September. Generator in October.

2. 90-Day Notice to New York State:

• No comments/objections were received by the September 8, 2022 deadline.

3. Transfer of Land to Fulton County Sewer District No. 4:

• Two (2) parcels to be deeded to Fulton County Sewer District No. 4:

Parcel 1 :               762 acres
Parcel 2 :               253 acres

• Deed, Bill of Sale and other paperwork to transfer title of land over to Sewer District No. 4 to be signed on October 11^th.
• Once these actions are taken, the Sewer District will take over operation and maintenance of Tryon’s sewer system.

IDA DISCUSSION:   Kara Lais stated that she has the documents with her today for Chairman Semione to sign authorizing the transfer of IDA property at Tryon over to Fulton County Sewer District No. 4.

• Funds invested into Treasury Bills on Tuesday, August 16, 2022.
• Funds were invested in 3-month, 6-month, 9-month and 12-month T-Bills.
• Interest rates were:

3-month      :               2.37%    matures:                11/17/22
6-month      :               2.89%    matures:                2/16/23
9-month      :               2.91%    matures:                5/18/23
12-month    :               3.18%    matures:                8/10/23

• The business survey went live on August 17^th.
• Chamber of Commerce and FCCRG sent emails to all of their members asking that they complete the survey.
• Jim Mraz sent personal emails to numerous local businesses encouraging them to complete the survey.
• The survey was taken down on September 23, 2022.
• Total survey responses: 19

IDA DISCUSSION:   Jim Mraz reviewed the information on the Agenda.  He reviewed several pieces of input received from the survey.  He stated the next step is for DCG Corplan to collect information regarding the labor market.  He stated that DCG Corplan is probably going to be using a 45-minute drive as the labor market area for Fulton County.

• IDA Board must adopt a 2023 Budget by November 1, 2022.
• Proposed 2023 Budget is attached.
• Key details include:
• Proposed budget totals $203,620 which is a decrease of $2,520 or 1.1% from 2022.
• Proposed Tryon Budget totals $12,300 which is a decrease of $65,700 or 84% from 2022.
• Funds are budgeted to conduct engineering evaluations of two (2) tracts of land to potentially prepare as shovel-ready sites.

IDA DISCUSSION:   Jim Mraz reviewed the information on the Agenda.  Todd Rulison stated that the Tryon Budget should be amended to reflect an anticipated reimbursement from Winstanley for mowing in 2023.  Jim Mraz stated that he would make that revision to the Tryon Budget.  Jim Mraz asked if there were any further questions.  There were none.

IDA ACTION:

MOTION:       To accept the 2023 IDA Budget as presented.

MADE BY:     Dave Semione
SECONDED: Todd Rulison
VOTE:            Unanimous

1. Use of IDA Funds:

a. Background:

• At the September 2022 meeting, a question was raised on whether the IDA can make donations to local groups or organizations.

b. Use of Funds:

• The IDA is a public benefit corporation.
• The IDA generates its revenues from administrative fees from private companies applying for financial incentives and lot sales.
• These funds are considered public monies even though they are not tax revenues or come from a municipality.

c. IDA’s Discretionary Funds Policy:

• The ABO recommends that IDA’s adopt a Discretionary Funds Policy.
• In June 2013, the IDA Board adopted a Discretionary Funds Policy.
• The following are excerpts from this Policy:

1. Applicability and Purpose:

a. This Discretionary Funds Policy shall apply to all Agency directors, officers and employees. The purpose of this Policy is to regulate the expenditure and use of Agency discretionary funds.

2. Definitions:

a. Discretionary Funds: Funds, from any source, that may be allocated or expended at the discretion of the Agency directors and staff who have the authority to approve such spending.

3. Use of Discretionary Funds:

a. Discretionary funds must be expended on uses that relate to an enumerated power, duty or purpose of the Agency.
b. Discretionary funds shall be used to advance the Agency’s mission and public purposes.
c. Discretionary funds shall not be used in a manner that primarily benefits an Agency director or staff.

4. Prior Approval:

a. All expenditures of discretionary funds shall be approved by the Agency prior to the expenditure.

5. Guidance on Certain Expenditures:

a. Membership Dues:

1. Membership dues paid by the Agency to belong to a professional peer organization shall be a permissible use of discretionary funds.
2. Individual membership costs for board Agency directors and staff to belong to a professional, social or fraternal organization whereby the membership is of the primary benefit to the individual rather than the Agency shall not be a permissible use of discretionary funds.

b. Charitable Contributions & Sponsorships:

1. The utilization of discretionary funds on sponsorships or charitable contributions shall depend on whether the proposed expenditure relates to the powers, duty and purposes of the Agency and whether such expenditure will advance the Agency’s mission and public purpose.

c. Food & Beverages:

1. Food and beverages purchased during business travel as provided in the Agency’s Policy No. 3: Travel, food and beverages purchased for or during the conduct of Agency business shall be a permissible use of discretionary funds.
2. Food and beverages purchased when conducting Agency business shall be a permissible use of discretionary funds.
3. Food and beverages purchased for the personal consumption of Agency directors and staff shall not be a permissible use of discretionary funds.

d. Professional Training, Certification and Licensing:

1. Paying the costs for Agency directors and staff to attend training to maintain certifications or licenses, or to attend professional conferences shall be a permissible use of discretionary funds.

e. Marketing:

1. Expenses incurred in the course of marketing the Fulton County region to new or prospective businesses and developing and maintaining relations with existing businesses and supporting partners in the furtherance of the Agency’s mission shall be a permissible use of discretionary funds.

 d. Section 858 of General Municipal Law:

• Section 858 identifies all powers of IDA’s.
• It does not state that IDA’s can make gifts.
• There are several Comptroller opinions verifying such.
• However, Section 858 empowers the IDA to accept gifts from the U.S, NYS or any Agency of them, any municipality, any public or private corporation or any legal entity for any of its corporate purposes.

e. ABO’s Recommended Practices:

• See attached.

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      :           Greg Truckenmiller
SECOND        :           Mike Fitzgerald
VOTE             :           Unanimous

TIME              :           8:22 a.m.

(NOTE:  Dave D’Amore left the meeting at 8:50 a.m.)

MOTION        :           To go out of Executive Session.

MADE BY      :           Sue Collins
SECOND        :           Greg Truckenmiller
VOTE             :           Unanimous

TIME              :           9:22 a.m.

Tuesday
November 8, 2022
8:00 a.m.

MOTION        :           To close the meeting.
MADE BY      :           Sue Collins
SECONDED  :           Joe Semione
VOTE             :           Unanimous

TIME              :           9:22 a.m.