TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING, JANUARY 27, 2010.
OLD COURTHOUSE, 350 FRONT STREET, HEMPSTEAD

AGENDA:  Consideration of a Contract Extension for TRC relating to the Covanta 4th Boiler Project, Presentation by and Consideration of an Inducement Resolution for Atlantic Feather and Foam, Inc., Presentation by and Consideration of a Preliminary Inducement Resolution for Millenium Realty LLC/Millenium Super Store, Executive Director’s Report, Consideration of a Resolution to Appoint the IDA Officers for 2010, Consideration of a Resolution to Appoint an Agency Counsel for 2010, Consideration of a Resolution to Appoint  a Transaction Counsel for 2010, Consideration of a Resolution to Adopt a Prevailing Wage Policy for 2010, Consideration of a Resolution to Renew the Adoption of the Agency’s Code of Ethics, Discussion Relating to the Termination of 5th Avenue Chocolatiere, Discussion Relating to Covanta Hempstead, Consideration and Adoption of the Minutes of December 16, 2009, Treasurer’s Report; Financial Statements and Expenditure List for December 16, 2009 – January 26, 2010, and Consideration of a Resolution to Approve Salary Increases for the Executive Director, Deputy Executive Director, Agency Administrator, and Deputy Agency Administrator, Committee Updates.

Those in attendance: 	Ted Sasso, Chairman
			Paul Conte, Vice Chairman
Al D’Agostino, Secretary
Jonathan Kohan, Treasurer
Ari Brown, Member
Pat Mezeul, Member
Danny Grodotzke, Member

Also in attendance:	John E. Ryan, Agency Counsel 
William F. Weir, Nixon Peabody
Ruth Leistensnider, Nixon Peabody
Frederick E. Parola, Executive Director/CEO
			Lorraine Rhoads, Agency Administrator
                                    Arlyn Eames, Deputy Agency Administrator
Gene Turner, Consultant
			
Also present:		Michael Lodato, LDC Corporate Administrator
	Cheryl Petri, LDC Board Member
                        
Absent:		Edie M. Longo, Deputy Executive Director/CFO

The meeting was called to order at 9:10 a.m.

Covanta 4th Boiler - TRC Contract Extension:  Ruth E. Leistensnider, Esq., the Agency’s Environmental Counsel, informed the Board that the TRC Contract is due to expire at the end of March 2010, and that they have requested an extension.  Ms. Leistensnider, the IDA Board, and the Executive Director all concurred that this request should be revisited at the February Board Meeting.  

Atlantic Feather and Foam, Inc.: Ian Rubenstein, owner of Atlantic Feather and Foam, made a brief presentation to the Board regarding his feather pillow and bedding manufacturing business, located at 15 Hoover Street, Inwood, which he plans to purchase and renovate.  The company also seeks to purchase, renovate and furnish an additional building at 420 Doughty Boulevard, Inwood. They are seeking benefits in the form of a 10 year PILOT Agreement, Sales Tax Exemption, and Mortgage Recording Tax Exemption.  Jonathan Kohan made a motion for a preliminary Inducement of this project.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.  

Millenium Realty LLC: This item was tabled until the February Board meeting.

Executive Director’s Report: The Board was furnished a copy of the Executive Director’s Report.  Mr. Parola updated the Board on the status of pending projects. 

IDA Officers for 2010:  Pat Mezeul made a motion to adopt the Resolution to appoint the IDA Officers for 2010.  This motion was seconded by Al D’Agostino.  All were in favor.  Motion carried.  

Agency Counsel for 2010:  Ted Sasso made a motion to adopt the Resolution to appoint John E. Ryan, Esq. of Ryan, Brennan, Donnelly, as Agency Counsel for 2010.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.  

Transaction Counsel for 2010: Ted Sasso made a motion to adopt the Resolution to appoint Nixon Peabody as Transaction Counsel for 2010.  This motion was seconded by Pat Mezeul.  All were in favor.  Motion carried.  

Prevailing Wage Policy for 2010: Pat Mezeul made a motion to adopt the Resolution to enact the Prevailing Wage Policy for 2010.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.  

Agency’s Code of Ethics: Ted Sasso made a motion to adopt the Resolution to renew the Agency’s Code of Ethics for 2010.  This motion was seconded by Pat Mezeul.  All were in favor.  Motion carried.  

5th Avenue Chocolatiere: Fred Parola advised the Board, that 5th Avenue Chocolatiere has not paid their School 2009/2010 1st half PILOT payment, but that the owner, Joseph Whaley, has been in contact with the Agency and has promised to get the payment to the IDA in short order.  The discussion relating to the possible termination of benefits due to non-payment of the PILOT was tabled until the February Board meeting in order to allow Mr. Whaley the opportunity to comply.

Covanta Hempstead:  Ruth E. Leistensnider, Esq., the Agency’s Environmental Counsel, 
advised the Board that she would be briefing the Town of Hempstead representatives on the status of the Covanta 4th Boiler final EIS at a meeting scheduled for 1pm today.

Minutes:  Paul Conte made a motion to adopt the Minutes of December 16, 2009.  This motion was seconded by Pat Mezeul.  All were in favor.  Motion carried.  

Report of the Treasurer:  The Board was furnished copies of the Financial Statements and Expenditure List for December 16, 2009 – January 26, 2010.  Fred Parola also informed the Board that an appropriate amount of funds have been transferred to a segregated account, pursuant to actuary requirements, to cover post-retirement health benefits for IDA staff.

Salary Increases:  Ted Sasso made a motion to go into Executive Session.  This motion was seconded by Paul Conte.  All were in favor. Motion carried.  The Board then voted to adopt the Resolution approving a 3.5% increase in the salaries for the Executive Director, Deputy Executive Director, Agency Administrator, and Deputy Agency Administrator. A motion was then made to come out of Executive Session by Ari Brown.  This motion was seconded by Paul Conte.  All were in favor. Motion carried.

Advertising Committee:  Fred Parola and Gene Turner briefed the board on the “Partners in Progress” post card that had been sent to approximately 230 IDA and LDC contacts in the area. The advertising committee will meet today to discuss 2010 radio spots and budget allocation.

With all business concluded, Al D’Agostino made a motion to close the meeting at 11:32 a.m..  This motion was seconded by Paul Conte.  All were in favor.  Motion carried.

________________________________________
Al D’Agostino, Secretary 
January 27, 2010