TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING, JUNE 22, 2011
OLD COURTHOUSE, 350 FRONT STREET, HEMPSTEAD

Agenda:  Consideration of an Inducement for Graham Realty LLC, Consideration of an Inducement for Lakeview Auto Sales and Service Inc., Consideration of a PILOT and an Authorizing Resolution for N and D Restaurants (Seasons 52), Consideration of an Authorizing Resolution for Village Lofts, Executive Directors Report, Discussion PILOT Agreements: IEAH, Rose Fence, Zomick’s, JS Hempstead, Consideration and Adoption of the Minutes of June 2, 2011, Treasurer’s Report, Committee Updates

Those in attendance: 	Ted Sasso, Chairman
			Jonathan Kohan, Treasurer
Ari Brown, Member
Danny Grodotzke, Member

Also in attendance:	William F. Weir, Nixon Peabody
			John E. Ryan, Agency Counsel
Frederick E. Parola, Executive Director/CEO
Edie M. Longo, Deputy Executive Director/CFO
                                    Arlyn Eames, Deputy Financial Officer
			Michael Lodato, Deputy Agency Administrator
                        	Gene Turner, Consultant
			Richard A. Bianculli

Absent: 		Paul Conte, Vice Chairman
			Al D’Agostino, Secretary
			Lorraine Rhoads, Agency Administrator
												
The meeting was called to order at 9:08 a.m.  

Graham Realty LLC:  Eric Rubenstein of Ruskin, Moscou, Faltischeck, and David Meyer, President of Graham Realty LLC, made a brief presentation to the Board on their project to be located at 110 West Graham Avenue in the Village of Hempstead.  The project consists of the purchase and renovation of a 97,000 square foot, two-story automobile repair facility and showroom for Mercedes Benz, including indoor parking and a car wash.  Ari Brown made a motion to induce this project.  This motion was seconded by Danny Grodotzke.  All were in favor. Motion carried.

Lakeview Auto Sales and Service Inc.:  Eric Rubenstein of Ruskin, Moscou, Faltischeck made a brief presentation to the Board on the proposed project located at 650 Sunrise Highway in the Village of Rockville Centre.  The company is seeking benefits for the expansion and renovation of the current building, which is used as a Mercedes Benz sales and leasing center.  The renovation will include a new façade and interior.  Ted Sasso made a motion to induce this project.  This motion was seconded by Ari Brown.  All were in favor. Motion carried.
 
N and D Restaurants (Seasons 52):  This item was tabled until the July 2011 Board Meeting.

Village Lofts LLC:  Village Lofts LLC is seeking benefits for the construction of a mid-rise residential affordable housing complex located in the Village of Hempstead.  The complex will consist of a 4-story, 31,272 square foot building, with 29 one and two bedroom units.  Ari Brown made a motion to adopt a PILOT and authorizing resolution..  This motion was seconded by Ted Sasso.  All were in favor. Motion carried.

Executive Director’s Report: The Board was furnished a copy of the Executive Director’s Report.  Fred Parola advised the Board that the IDA has received a number of calls recently as a result of advertising on Bloomberg Radio Network.

PILOT Agreements for IEAH, Rose Fence, Zomick’s, JS Hempstead:  Fred Parola advised the Board that IEAH, Rose Fence, Zomick’s Food Products, and JS Hempstead, are each delinquent on either 2010/11 1st half Village or 2010/2011 2nd half School PILOT payments.  Mr. Parola recommended that a written letter from the Executive Director be sent to each company explaining that payment must be received by the July Board meeting date, or the companies risk losing their IDA benefits.  The Board agreed that this was the best way to proceed. 

Equity One:  Bill Weir advised the Board that the issue regarding the tenants of Equity One having the ability to self-insure has been resolved.   Equity One had been in negotiation with IDA Counsel, and it was finally agreed that each tenant would have to list the IDA as a “3rd party beneficiary” in the Lease Agreement.  The project involves the acquisition of property and construction of a 330,000 square floor shopping center at 900 Old Country Road, Westbury.  Michael Berfield, Vice President of Equity One, advised the Board that the company expects the building to open in the Fall of 2012.  

Minutes:  Ari Brown made a motion to adopt the Minutes of June 2, 2011.  This motion was seconded by Danny Grodotzke.  All were in favor. Motion carried.

Report of the Treasurer:  The Board was furnished copies of the Financial Statements and Expenditure List for June 2, 2011 – June 21, 2011.

Committee Updates:  There were no Committee updates.

With all business concluded, Ted Sasso made a motion to close the meeting at 9:45 a.m..  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.

________________________________________
Jonathan Kohan, Treasurer 
June 22, 2011