TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
ANNUAL ORGANIZATIONAL BOARD MEETING
FEBRUARY 24, 2016, 9:00 a.m.
Old Courthouse, 350 Front Street, 2nd Floor, Hempstead

Agenda:  Consideration of an Amended Authorizing Resolution for Promenade at Central, Consideration of a Preliminary Inducement Resolution for Hempstead 209 LLC, 9:15 a.m. Presentation, Executive Director’s Report, Consideration of a Resolution to adopt an Amended Authorizing Resolution and re-adopt the PILOT Schedules for Open Link Financial and Flushing Bank, Compliance Review 2015, Consideration of a Resolution to change the March meeting date to March 29, 2016,  Consideration of a Resolution to renew the Agency’s membership with the LIBDC, Consideration of a Tenant Consent for HP Lynbrook, Discussion International Valley Stream Holdings LLC (International Shoppes), Update Circulo de la Hispanidad, Update Shor Yoshuv, Discussion of International Shoppes project, Consideration and Adoption of the Minutes of January 27, 2016, Report of the Treasurer, Executive Session

Those in attendance: 	Ted Sasso, Chairman
			Ari Brown, Vice Chairman
			Jonathan Kohan, Treasurer
			Danny Grodotzke, Secretary
			Ray Maguire, Member
			Ann DeMichael, Member
Stacey Hargraves, Village Assessor, Village of Hempstead Member		Charles Renfro, Village of Hempstead Member
Alan Heuson, President, Ingraham Estates Civic Association, 
         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

Excused:		Luis Figueroa, Deputy Mayor, Incorporated Village of Hempstead
						
The meeting was called to order at 9:04 a.m.  The Chairman declared a quorum was present.

The Promenade at Central:  Ted Sasso made a motion to adopt an Amended Authorizing Resolution for The Promenade at Central, a multi-family housing project to be constructed at 49 North Central Avenue, Valley Stream, to include 43 total units and less than 10% retail space.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.

Ari Brown arrived at the meeting at 9:15 a.m.

The Chairman introduced the Village of Hempstead Members to hear and vote on the following project.

Hempstead 209 LLC:  Dan Deegan (Forchelli, Curto, Deegan, Schwartz, Mineo, and Terrana) and the applicant, Adam Mann, made a presentation to the Board on the proposed Hempstead 209 LLC project. The applicant currently owns the building located at 209 Front Street in the Village of Hempstead, and is seeking to purchase adjacent parcels.  The project entails a renovation and addition of square footage to the existing building and the creation of a parking area.  80 % of the building will be used as a Family Dollar store with an additional 20% rentable retail space.  The properties all exist within an economically distressed area and former Empire Zone.  The applicant is seeking a 15 year PILOT Agreement, Sales Tax Exemption and Mortgage Recording Tax Exemption.  Agency staff has recommended a 10 year PILOT Agreement to run co-terminus with the Lease Agreement with Family Dollar.  Ari Brown made a motion to adopt a Preliminary Inducement Resolution for this project.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.  This motion was approved by Stacey Hargraves, Charles Renfro and Alana Heuson, the representatives of the Village of Hempstead.

Executive Directors Report:  Fred Parola updated the Board on the status of both active and inactive projects on the Executive Director’s Report.  The Executive Director also reported to the Board that he compared the Agency’s Construction Wage Policy to that of the County IDA’s and he found that they were substantially similar.  He also advised the Board that new signs would be developed for placement at new project sites. 

Openlink Financial LLC – PILOT Schedule:  Ted Sasso made a motion to re-adopt the PILOT Schedule for Openlink Financial.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.

Flushing Bank LLC – PILOT Schedule:  Ted Sasso made a motion to re-adopt the PILOT Schedule for Flushing Bank.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.

Compliance Review:  Edie Longo updated the Board on the status of project compliance for 2015.  

March meeting date:  Ted Sasso made a motion to change the March meeting date to Tuesday, March 29, 2016.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

LIBDC Membership:  Jonathan Kohan made a motion to renew the Agency’s annual membership with the Long Island Business Development Council for 2016 for an amount not to exceed $600.00.   This motion was seconded by Ted Sasso.  All were in favor.  Motion carried.

HP Lynbrook:  Ted Sasso made a motion to approve a Tenant Consent for HP Lynbrook.  The company, New York Pharmacy Network LLC will occupy 2778 square feet of space at 444 Merrick Road, Lynbrook.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.

International Valley Stream Holdings LLC (International Shoppes):  The Board was given copies of a letter from International Valley Stream Holdings LLC describing significant changes to the project located at 500 and 540 Rockaway Avenue, Valley Stream.   Bill Weir explained to the Members that since the changes to the original project were substantial, that the International Shoppes must submit a new application and all associated requirements.

Circulo de la Hispanidad:  This item was tabled.

Shor Yoshuv:  This item was tabled.

Minutes:  Ray Maguire made a motion to adopt the Minutes of the meeting of January 27, 2016.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.  

Report of the Treasurer:  The Board was furnished with copies of the Financial Statements and Expenditure List for January 21, 2016 – February 17, 2016.  The Treasurer stated that all was in good order.

Jonathan Kohan made a motion to adjourn the meeting at 9:55 a.m.  This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.

________________________________________
Dan Grodotzke, Secretary 
March 29, 2016