TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
ANNUAL ORGANIZATIONAL BOARD MEETING
JANUARY 26, 2017, 9:00 a.m.
Old Courthouse, 350 Front Street, 2nd Floor, Hempstead*

*Meeting was moved to the Nathan L.H. Bennett Pavilion, 1 Washington Street, Hempstead.

Agenda:  Consideration of a Mortgage Consent for 590-600 Realty, Consideration of a Tenant Consent for Piercing Pagoda for Valley Stream Green Acres, Consideration of a Tenant Consent for Signature Bank for 900 Stewart Owner LLC, Consideration of a Tenant Consent for Quik Fund for 900 Stewart Owner LLC, Consideration of a Mortgage Consent for 2701 Associates LLC, Executive Director’s Report, Consideration and Adoption of the Agency’s Committee List, Consideration and Re-adoption of the Agency’s Construction Wage Policy, Consideration of a Resolution to Appoint Officers: Chairman, Vice Chairman, Treasurer, Secretary, Consideration of a Resolution to Appoint Agency Counsel, Consideration of a Resolution to Appoint Transaction/Bond Counsel, 2016 Compliance Review, Update Circulo de la Hispanidad, Update Shor Yoshuv, Consideration and Adoption of the Minutes of December 21, 2016,  Consideration and Adoption of the Minutes of January 10, 2017, Report of the Treasurer: Financial Statements and Expenditure List – December 15, 2016 – January 19, 2017, Consideration of Budget Line Transfers for Calendar Year 2016, Consideration of a Banking Resolution for Bank of America - Change of Treasurer (Money Market Account and Checking Account), Consideration of a Banking Resolution for First National Bank - Change of Treasurer (Post Retirement, Severance, Operation Investment, Public Funds),  Executive Session

Those in attendance: 		Arthur J. Nastre, Chairman
				William Hendrick, Vice Chairman
				Steven M. Raiser, Member
				John R. Ferretti, Member
				Luis Figueroa, Village of Hempstead Member
				Stacey Hargraves, Village of Hempstead Member
				Alan Heuson, Village of Hempstead Member
				
Also in attendance:		John E. Ryan, Agency Counsel 
William F. Weir, Nixon Peabody
Frederick E. Parola, Executive Director/CEO
Edie M. Longo, Deputy Executive Director/CFO
Lorraine Rhoads, Agency Administrator
                                    		Arlyn Eames, Deputy Financial Officer
				Michael Lodato, Deputy Agency Administrator
				Cheryl Petri, Office of the Supervisor
				Alan Wax, Todd Shapiro & Associates

Excused:			Florestano Girardi, Treasurer
Eric C. Mallette, Secretary
Mayor Wayne J. Hall Sr., Village of Hempstead Member
				
The meeting was called to order at 9:03 a.m.  The Chairman declared a quorum was present.

590-600 Realty – Mortgage Consent:  William Hendrick made a motion to approve a Mortgage Consent for 590-600 Realty in the amount of $44,000,000.00 to refinance their existing mortgage of $31,365,000.00.  This motion was seconded by Luis Figueroa.  All were in favor.  Motion carried.

Alan Heuson arrived at the meeting.

Valley Stream Green Acres – Tenant Consent for Piercing Pagoda:  This item was tabled due to the recusal of Mr. Hendrick.

900 Stewart Owner LLC – Tenant Consent for Signature Bank:  William Hendrick made a motion to approve a Tenant Consent for Signature Bank 900 Stewart Owner LLC.  The company will occupy 16,414 square feet of space at 900 Stewart Avenue, Garden City.  This motion was seconded by John Ferretti.  All were in favor.  Motion carried.

900 Stewart Owner LLC – Tenant Consent for Quik Fund:  William Hendrick made a motion to approve a Tenant Consent for Quik Fund for 900 Stewart Owner LLC.  The company will occupy 5,330 square feet of space at 900 Stewart Avenue, Garden City.   This motion was seconded by John Ferretti.  All were in favor.  Motion carried.

2701 Associates LLC – Mortgage Consent:  Alan Heuson made a motion to approve a New Mortgage Consent for 2701 Associates LLC in the amount of $6,000,000.00.  This motion was seconded by Stacey Hargraves.  All were in favor.  Motion carried.

Luis Figueroa, Stacey Hargraves, and Alan Heuson left the meeting.

Executive Directors Report:  The Board was furnished with a copy of the Executive Director’s Report. 

Agency Committee List 2017:   William Hendrick made a motion to adopt the Agency Committee List for 2017, as amended to include all members of the Board on the Governance Committee.  This motion was seconded by John Ferretti.  All were in favor.  Motion carried.

Construction Wage Policy 2017:  William Hendrick made a motion to re-adopt the Agency’s Construction Wage Policy for 2017.  This motion was seconded by John Ferretti.  All were in favor.  Motion carried.

Appointment of Officers 2017:  John Ferretti made a motion to elect and appoint Chairman Arthur J. Nastre, Vice Chairman William Hendrick, Secretary Eric C. Millette, and Treasurer Florestano Girardi as officers of the Town of Hempstead IDA for 2017.   This motion was seconded by William Hendrick.  All were in favor.  Motion carried.

Appointment of Agency Counsel for 2017:  John Ferretti made a motion to renew the appointment of John E. Ryan as Agency Counsel to the IDA for 2017.  This motion was seconded by Steven Raiser.  All were in favor.  Motion carried.

Appointment of Bond/Transaction Counsel for 2017:  William Hendrick made a motion to renew the appointment of Nixon Peabody as Bond and Transaction Counsel to the IDA for 2017.  This motion was seconded by Steven Raiser.  All were in favor.  Motion carried.

Shor Yoshuv:  This item was tabled.

Circulo de la Hispanidad:  This item was tabled.

Steven Raiser made a request to staff to ask for certified payrolls for the Valley Stream Green Acres project. 

Minutes of December 21, 2016:    This item was tabled.

Minutes of January 10, 2017:  John Ferretti made a motion to adopt the Minutes of January 10, 2017.  This motion was seconded by William Hendrick.  All were in favor.  Motion carried.
     
Report of the Treasurer:  The Board was furnished with copies of the Financial Statements and Expenditure List for December 15, 2016 – January 19, 2017.  The Treasurer was not present.  

Budget Line Transfers for Calendar Year 2016:  Edie Longo advised the Board that budget line transfers were necessary for calendar year 2016.   John Ferretti made a motion to authorize the budget line transfers.  This motion was seconded by Steven Raiser.  All were in favor.  Motion carried.  

Bank of America Resolution to change Treasurer:  William Hendrick made a motion to adopt a Banking Resolution to change the Treasurer to Florestano Girardi as Signatory for Bank of America for the Money Market and Checking Accounts.  This motion was seconded by Steven Raiser.  All were in favor.  Motion carried.  

First National Bank Resolution to change Treasurer:  William Hendrick made a motion to adopt a Banking Resolution to change the Treasurer to Florestano Girardi as Signatory for First National Bank for the Post Retirement, Severance, Operations Investment and Public Funds Account.  This motion was seconded by John Ferretti.  All were in favor.  Motion carried.  

William Hendrick made a motion to adjourn the meeting at 10:10 a.m.  This motion was seconded by Steven Raiser.  All were in favor.  Motion carried.

________________________________________
Arthur J. Nastre, Chairman
February 16, 2017