Minutes from February 14, 2011

Minutes of the Meeting of the Cortland County IDA

Chairman Michael McMahon called a meeting of the Cortland County Industrial Development Agency to order at 12:07 p.m. on Monday, April 11, 2011 at 37 Church Street, Conference Room, Cortland, NY.

ROLL CALL AND CALL TO ORDER

The following members were present:

  • Edward Telling
  • Michael McMahon
  • John Shirley
  • Stephen Compagni
  • James Pelowski

     

The following staff were present:

  • Garry VanGorder, Executive Director
  • Karen Niday, Empire Zone Coordinator
  • Sandy Griep, Office Manager
  • John Sidd, Counsel

 

The following guests were present:

  • Bob Haight, Chamber of Commerce
  • Matt Nojiri, Cortland Standard 

APPROVAL OF THE MINUTES

On a motion made by Michael McMahon to approve the minutes from the March meeting, the motion was seconded by Edward Telling.  All were in favor, none opposed.  Motion carried.

A motion was made by Michael McMahon and seconded by James Pelowski to approve the Special Meeting Minutes of March 30.   All were in favor, none opposed.  Motion carried.

CORRESPONDENCE

Correspondence was reviewed as enclosed in the board books.
New York Assessment fees were paid and mailed, the day we mailed it the decision was reversed and IDA’s will not have to pay them.  The check was returned a week later.

Borg Warner Termination of Sale/Leaseback Transaction – is now concluded.

Line of credit with the Alliance Bank has been extended for a longer period of time.


REPORTS

    1. Financial Reports were reviewed as enclosed in the board books.

    Multi – Modal grant for Marietta has come through and we were able to recouped some of our legal fees.  Marietta is pleased with the work.
    Karen reported mainly all expenses were routine.  She reported that down the line a single audit will have to be performed as part of the EDA grant, that will be an added expense.

    Motion to conduct an executive session for the purpose of considering the proposed sale or lease of a real property as publicity could substantially affect the value thereof was called to order at 12:10 pm.

    The motion was made by Michael McMahon and seconded by Stephen Compagni.  The chairman asked that BDC members, staff and Chamber Director Bob Haight to stay.

    Motion to reconvene the regular IDA Meeting by Michael McMahon and seconded by John Shirley at 12:21 pm. No action was taken.

     

    B. Executive Directors Report – reviewed as enclosed in the board books.

  • FLE Business Park work to continue as soon as the weather breaks, with the underground work with National Grid, NYSEG and the fiber optic work.


ADJOURN

On a motion made by Michael McMahon and seconded by James Pelowski the Agency adjourned its meeting at 12:31 p.m.

Respectively submitted

Secretary
John Shirley