TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING
MARCH 27, 2014, 9:00 a.m.
IDA Conference Room, 350 Front Street, Hempstead

Agenda:  Consideration of a Tenant Consent for APNY RE Garden City LLC for BRG Office LLC, Consideration of an Inducement for International Shoppes, Consideration of an Inducement for Flushing Federal Savings, Consideration of a Preliminary Inducement for National Grid, Barrett Power Station, Consideration of an Amended Proposed PILOT for Parabit (additional years for the Roosevelt facility), Executive Directors Report, Consideration and Adoption of Agency’s Purchasing Guidelines, Consideration and Adoption of Code of Ethics, Consideration and Adoption of Standard Project Procedures, Consideration and Adoption of Property Disposition Policy, Consideration and Adoption of Operations and Accomplishments 2013, Consideration and Adoption of Mission Statement, Consideration and Adoption of Investment Policy and Guidelines, Consideration and Adoption of Assessment of Effectiveness of Internal Controls, Consideration of a Resolution to Appoint a Compliance/Contracting Officer, Compliance Review 2013, Update Circulo de la Hispanidad, Discussion and Update CBW Uniondale Hotel, Update PILOT Agreements/Tax Bills Dentaco and Magna Care, 
Update Carbo Termination, Rose Fence Non-compliance, Non-payment, Consideration and Adoption of the Minutes of January 22, 2014, Report of the Treasurer, Executive Session, Committee Updates

Those in attendance: 	Theodore P. Sasso, Jr., Chairman
			Ari Brown, Secretary
			Danny Grodotzke, Member
			Richard Bianculli, Member
			Ray Maguire, 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:		Paul Conte, Vice Chairman
			Jonathan Kohan, Treasurer
									
The meeting was called to order at 9:00 a.m.

National Grid, Barrett Power Station:  National Grid made a presentation o the Board on their proposed project to be located at the current Barrett Power Station in Island Park, NY.  The project is to create a new, modern energy center by re-powering the existing power plant through the installation of new, state-of-the-art electric generators and the removal of existing electrical generating equipment.  National Grid is aiming to provide a more efficient and cost-effective facility to produce electricity while minimizing the impacts on surrounding communities. The company is seeking a sales tax exemption and a 25-year PILOT Agreement.   Ted Sasso made a motion to preliminarily induce this project, subject to a completed Article 10 environmental review and approval of Request for Proposals by LIPA.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.

Ari Brown made a motion to go into Executive Session at 9:45 a.m. to discuss a matter of potential litigation.  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

Danny Grodotzke made a motion to come out of Executive Session at 10:02 a.m.  This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.  No action was taken.

Flushing Financial Corp.:  Flushing Financial Corp. plans to relocate both its Queens and Lake Success facilities to RXR Plaza, Uniondale.  The company plans to renovate 85,000 square feet within the RXR plaza and lower level to house their main offices and a possible small branch location of 1000 square feet.  The company is requesting a Sales Tax Exemption and a 12 year PILOT Agreement to run co-terminus with the Lease Agreement.  Rich Bianculli made a motion to induce this project.   This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.

International Shoppes:  Thomas B. Wassel (Cullen and Dykman, LLP) made a presentation to 
the Board on the proposed project International Shoppes, which distributes products to duty free airport shops.  The company plans to renovate an existing building located at 518 Rockaway Avenue, Valley Stream, to house its main distribution center.  The company also plans to construct a 3-story building at 500 and 540 Rockaway Avenue, Valley Stream, for offices.  International Shoppes has requested a 15 year PILOT Agreement and a Sales Tax Exemption.  Ari Brown made a motion to induce this project and 15-year PILOT.  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

BRG Office LLC - Tenant Consent for APNY RE Garden City LLC:  Ted Sasso made a motion to approve the Tenant Consent for APNY RE Garden City LLC, located at 711 Stewart Avenue, Unit 2, Garden City.  The pediatric medical practice will occupy approximately 5,360 square feet of space.  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

Parabit Realty LLC – Amended Proposed PILOT Schedule:  Rich Bianculli made a motion to adopt an amended PILOT Schedule for Parabit Realty LLC, 33 Debevoise Avenue, Roosevelt  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

Ted Sasso made a motion to go into Executive Session at 10:30 a.m. to discuss a matter of potential litigation.  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

Danny Grodotzke made a motion to come out of Executive Session at 10:35 a.m.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.  No action was taken.

Costco, Island Park:  This item was for discussion purposes only.  No action was taken.  

Circulo de la Hispanidad:  This item was tabled to the April meeting.

CBW Uniondale Hotel:  This item was tabled to the April meeting.
 
Dentaco and Magna Care Tax Bills: This item was tabled to the April meeting.

Carbo Industries Termination:  This item was tabled to the April meeting.

Rose Fence:  This item was tabled to the April meeting.

Executive Director’s Report:  Fred Parola updated the Board on the status of both active and inactive projects.

Purchasing Guidelines:  Ted Sasso made a motion to adopt the Purchasing Guidelines, as adopted by the Audit Committee.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

Code of Ethics:  Rich Bianculli made a motion to adopt the Code of Ethics, as adopted by the Ethics Committee.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.

Standard Project Procedures:  Ted Sasso made a motion to adopt the Standard Project Procedures, as adopted by the Governance Committee.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

Property Disposition Policy:  Rich Bianculli made a motion to adopt the Property Disposition Policy, as adopted by the Governance Committee.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.

Operations and Accomplishments 2013:  Ari Brown made a motion to adopt the Operations and Accomplishments 2013, as adopted by the Governance Committee.  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

Mission Statement:  Danny Grodotzke made a motion to adopt the Mission Statement, as adopted by the Governance Committee.  This motion was seconded by Ted Sasso.  All were in favor.  Motion carried.

Investment Policy and Guidelines:  Danny Grodotzke made a motion to adopt the Investment Policy and Guidelines, as adopted by the Finance and Investment Committee.  This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.

Assessment of Effectiveness of Internal Controls:  Ted Sasso made a motion to adopt the Assessment of Effectiveness of Internal Controls, as adopted by the Finance and Investment Committee.  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

Compliance/Contracting Officer:  Danny Grodotzke made a motion to re-appoint Edie M. Longo as the Agency’s Compliance/Contracting Officer.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

Compliance Review 2013:  Edie Longo updated the Board on the compliance of the Agency’s projects.

Minutes:  Ray Maguire made a motion to adopt the Minutes of February 26, 2014 as presented to the Board.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.  

Report of the Treasurer:  The Board was furnished with copies of the Financial Statements and Expenditure List for February 20, 2014 – March 20, 2014

Audited Financial Statement:  Rich Bianculli made a motion to adopt the 2013 Audited Financial Statement.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

Annual Financial Statement:  Ted Sasso made a motion to adopt the 2013 Annual Financial Statement.  This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.

Committee Updates:  There were no updates.

NYSEDC Annual Meeting:  Ted Sasso made a motion to adopt a resolution for staff and members to attend NYSEDC Annual Meeting in Cooperstown, NY, May 21-23, 2014.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.  

With all business concluded, Ray Maguire made a motion to adjourn the meeting at 10:55 a.m.  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

______________________________
Ari Brown, Secretary
April 23, 2014