TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING
MAY 28, 2014, 11:00 a.m.
Old Courthouse, 350 Front Street, Hempstead

Agenda:  Consideration of an Authorizing Resolution for International Shoppes, Consideration of an Authorizing Resolution for Flushing Federal Savings, Consideration of an Authorizing Resolution for 5th Avenue Chocolatiere/Freeport, Consideration of an Authorizing Resolution for Parabit Systems, Consideration of a Tenant Consent for 444 Merrick Road for Astoria 21st Realty LLC, Consideration of a Mortgage Consent for Village Lofts, Hempstead, Executive Directors Report, Compliance Review, Employment Shortfalls for Action, 90-day Update from PDC Corporation, Cedarhurst, Garden City 505 PILOT Extension 2022-2036, Ratifying and Confirming Resolution for June 3rd LIBDC Lunch Meeting, Consideration of a Resolution to adopt the Agency’s Travel Policy, Consideration of a Resolution to adopt the Agency’s Retail Policy, Update Circulo de la Hispanidad, Discussion and Update CBW Uniondale Hotel, Update PILOT Agreements/Tax Bills Dentaco and Magna Care, Outstanding PILOT payments – Rose Fence Termination, Consideration and Adoption of the Minutes of April 23, 2014, Report of the Treasurer, Executive Session, Committee Updates

Those in attendance: 	Theodore P. Sasso, Jr., Chairman
			Ari Brown, Secretary
			Danny Grodotzke, Member
			Ray Maguire, Member
			Ann DeMichael, 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:		Jonathan Kohan, Treasurer
Richard Bianculli, Member
							
The meeting was called to order at 11:05 a.m. 

International Shoppes:  International Shoppes 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.   Ari Brown made a motion to adopt an Authorizing Resolution, Sales Tax Exemption and 15-year PILOT Agreement for the project to be located at 518 Rockaway Avenue.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.  Ari Brown made a motion to adopt an Authorizing Resolution, Sales Tax Exemption and 15-year PILOT Agreement for the project to be located at 500 and 540 Rockaway Avenue.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.  

Flushing Federal Savings:  Flushing Financial Corp. plans to relocate both its Queens and Lake Success offices to RXR Plaza, Uniondale.  The company plans to renovate 85,000 square feet within the RXR plaza to house their main offices and open a possible small branch location of 1000 square feet on the lower level.  Ted Sasso made a motion to adopt an Authorizing Resolution, Sales Tax Exemption and PILOT Agreement for this project.   This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

5th Avenue Chocolatiere:  5th Avenue Chocolatiere of Valley Stream is expanding by renovating a building located at 114 Church Street in the Village of Freeport. The Valley Stream location will be converted into a training facility and its previous employees 
will relocate to Freeport.  The new facility is 22,000 square feet and will house the main distribution and manufacturing center for Chocolate Works, a subsidiary franchise of 5th Avenue Chocolatiere.  Ari Brown made a motion to adopt an Authorizing Resolution, Mortgage Recording Tax Exemption, Sales Tax Exemption and PILOT Agreement for this project.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

Parabit Systems:  Parabit Systems requested a Sales Tax Exemption for the renovation and expansion of its existing 25,000 square foot warehouse/ manufacturing facility, located at 33-35 Debevoise Avenue, Roosevelt.  Ann DeMichael made a motion to adopt a Sales Tax Exemption for this project.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.  The company also requested IDA benefits for the acquisition and renovation of a building located at 2677 Grand Avenue, Bellmore for their office operations. Ted Sasso made a motion to adopt an Authorizing Resolution, Sales Tax Exemption and PILOT Agreement for this project.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

444 Merrick Realty LLC – Tenant Consent for Astoria 31st Realty LLC:  Ann DeMichael made a motion to approve the Tenant Consent for Astoria 31st Realty LLC for 444 Merrick Realty LLC, located at 444 Merrick Road, Lynbrook.  The diagnostic imaging company will occupy approximately 2,778 square feet of space, and hire approximately 15 employees.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried

Village Lofts:  Village Lofts LLC made a written request for consent to increase the amount of their original mortgage to cover increased cost of development for the apartment complex project located at 479 Front Street, Hempstead.   Ann DeMichael made a motion to approve the Mortgage Consent for Village Lofts LLC.   This motion was seconded by Ari Brown.  All were in favor.  Motion carried

Mr. Maguire arrived at the meeting at 11:20 a.m.

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

Compliance Review 2013 and Review of employment Shortfalls for Action:  The Board was furnished with the Compliance Review 2013, as well as a list of employment shortfalls and letters of explanation for the companies.  No action was recommended by the Board.

PDC Corporation, Cedarhurst – 90-Day Update and Presentation:  Neil Harrington, CFO of PDC Corporation updated the Board on the status of the project located at 336 Pearsall Avenue, Cedarhurst.  Mr. Harrington explained that the company had been re-authorized by JP Morgan Chase for a mortgage and that they would be going forward with the original plans for the building.  Mr. Harrington also stated that the company was in the process of reinstating the variances previously obtained in 2011with the Village of Cedarhurst.  No action by the Board was taken.

Garden City 505 PILOT Extension:  Danny Grodotzke made a motion to deny the request of Garden City LLC, located at 1000 Stewart Avenue and 500 Endo Boulevard, Garden City, for an extension of their PILOT Agreement from 2022 to 2036.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried

LIBDC Luncheon Meeting:  Ted Sasso made a motion to adopt a Ratifying and Confirming Resolution to host a LIBDC Reception and Luncheon Meeting on June 3, 2014 at Chateau Briand, Old Country Road, Carle Place, NY, for an amount not to exceed $2,500.00.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried

Travel Policy:  Ted Sasso made a motion to adopt the Agency’s Travel Policy for 2014.  This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.

Retail Policy:  Ray Maguire made a motion to adopt the Agency’s Retail Policy for 2014.   This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.

Circulo de la Hispanidad:  Bill Weir advised the Board that he would reach out to the bondholders for a status update and report back at the June meeting.

CBW Uniondale Hotel:  This item was tabled to the June meeting.

Dentaco and Magna Care Tax Bills: This item was tabled to the June meeting.

Outstanding PILOT Payments:  Arlyn Eames advised the Board that Rose Fence had made all PILOT payments currently and past due.

Minutes:  Ari Brown made a motion to adopt the Minutes of April 23, 2014 as amended to correct the person seconding the motion to adjourn.  This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.  

Report of the Treasurer:  The Board was furnished with copies of the Financial Statements and Expenditure List for April 17, 2014 – May 21, 2014

With all business concluded, Ari Brown made a motion to adjourn the meeting at 11:35 a.m.  This motion was seconded by Dan Grodotzke.  All were in favor.  Motion carried.

______________________________
Theodore P. Sasso, Chairman
June 25, 2014