Minutes from January 20, 2009

Minutes of the Meeting of the Cortland County IDA

Chairman Paul Slowey called a meeting of the Cortland County Industrial Development Agency to order at 12:08 pm. on Tuesday, January 20, 2009 at the BDC/IDA office, 37 Church Street, Cortland, New York 13045.

ROLL CALL AND CALL TO ORDER

The following members were present:

  • John Finamore
  • Michael McMahon
  • John O. Reagan
  • Paul Slowey

The following member was absent:

  • Thomas E. Gallagher
  • Victoria Marsted
  • Frank Suits, Jr.

The following staff were present:

  • Tom Gillson, Executive Director
  • Karen Niday, Empire Zone Coordinator
  • Sandy Griep, Office Manager
  • John P. Sidd, Corporate Counsel

The following guest/media were present:

  •   Holden Slattery (Cortland Standard)
  • Garry VanGorder (Chamber of Commerce)
  • Paul Allen (Lime Hollow Board Member)
  • John Gustafson (Lime Hollow Board Member)
  • Glen Reisweber (Lime Hollow Director)

APPROVAL OF THE MINUTES

On a motion made by Mike and seconded by John Finamore, the minutes of the December meeting were approved.  All were in favor, none opposed.

CORRESPONDENCE

Correspondence was briefly reviewed as enclosed in board books. 

NEW BUSINESS

  1. Engagement Letter from Auditor – Rick McNeilly has sent an engagement letter for the Audit. A motion was made by Paul Slowey and seconded by Mike McMahon to approve the engagement letter with Mr. McNeilly with the following revision .. The audit will be performed to satisfy the requirements of New York States Public Authority provisions. All were in favor, none opposed.
  1. Lime Hollow Presentation – Glen Reisweber thanked the board for allowing him the opportunity to speak to them and that in the past month the Lime Hollow board has met with Tom, Dave Botar and engineers from O’Brien and Gere and have come to agreement on a permanent buffer to protect the Chicago Bog as part of the FLE Business Park.  He expressed that there were concerns early on and that they were address and they will partner with the IDA to promote the park since covenant will be in place. 

 

  1. Barden Homes Presentation – Chairman Slowey pointed out that since the last IDA meeting it was brought to the Board attention that Barden Homes was in default of their PILOT Agreement.  The Executive Director was directed to contact Barden and ask them to attend the next meeting of the IDA to do a presentation requesting a reduction of employment numbers. They did agree to attend. Shortly after that announcement, Barden Homes announced that they will be closing the Preble facility.  Therefore, that is why there is no Barden Homes representation at this meeting.

After some discussion, Counsel suggested to that Board that they move to have Barden Homes put back on the tax rolls since they are default of their PILOT Agreement. A motion was then made by Paul Slowey and seconded by John Reagan to have counsel notify the proper taxing authorities as soon as possible with the notice of default. All were in favor, none opposed.

REPORTS

Financial Reports were reviewed as enclosed in the board books.
Barden Homes – IAP Payment – it was noted that Barden Homes did make their second payment as part of the IAP agreement with the IDA.  They are obligated to pay the remaining balance. At this point we don’t foresee any issues with them not paying the remainder. The risk is there that the IDA will have to pay the remainder if Barden Homes does not.

Executive Directors Report - were reviewed as enclosed in the board books.

ADJOURN

On a motion made by Mike McMahon and seconded by John Finamore the Agency adjourned its meeting at 12:24 pm.

Respectively submitted

Secretary
Michael McMahon