TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING
JUNE 23, 2015, 9:00 a.m.
Old Courthouse, 2nd Floor, 350 Front Street, Hempstead

Agenda: Consideration of an Authorizing Resolution for Avalon of Rockville Centre II, Centre Avenue, Consideration of a Sales Tax Exemption for Summitt Hotel, Garden City, Consideration of an amendment to the Recapture Agreement for 5th Avenue Chocolatiere for SBA closing, Consideration of an amended Authorizing Resolution for Verbena Associates to include Mortgage Recording Tax Exemption, Consideration of a Tenant Consent for Macerich (Green Acres Adjacent) - BJ’s Restaurant and Brew House, Executive Director’s Report, Consideration of a Ratifying and Confirming Resolution for Office Carpet Cleaning (R & R Cleaning Services), Update Circulo de la Hispanidad, Update Shor Yoshuv, Consideration and Adoption of the Minutes of May 27,  Report of the Treasurer

Those in attendance: 	Theodore P. Sasso, Jr., Chairman
			Ari Brown, Vice Chairman
Danny Grodotzke, Secretary
Jonathan Kohan, Treasurer
			Ray Maguire, Member
			Ann DeMichael, Member
		
Also in attendance:	John E. Ryan, Agency Counsel 
Barry Carrigan, 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:		William F. Weir, Nixon Peabody
									
The meeting was called to order at 9:06 a.m.

Avalon of Rockville Centre II:  Michael Faltischek, Ruskin Moscou Faltischeck, made a presentation to the Board on the proposed Avalon of Rockville Centre II project, an approximately 251,827 square foot Multi-Family Residential Community comprised of 177 one, two and three-bedroom units on four floors with an additional floor for parking, to be constructed at 80 North Centre Avenue in the Village of Rockville Centre.  

Ted Sasso made a motion to go into Executive Session.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.

Ted Sasso made a motion to come out of Executive Session.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

Jonathan Kohan made a motion to adopt an Authorizing Resolution for the Avalon of Rockville Centre II project.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

Summit Hotel OP LP:  Summit Hotel OP LP, Hyatt Place, 5 North Avenue, Garden City closed in 2008, however the company only utilized approximately $2 million of their approved $10 million exemption.  The company requested a new exemption for renovations and upgrades to the hotel.  Ari Brown made a motion to approve a new Sales Tax Exemption for $1,600,000.00 which will expire April 1, 2016.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.
	
5th Avenue Chocolatiere – Amendment to the Recapture Agreement:  Ted Sasso made a motion to approve an amendment to the Recapture Agreement for the SBA Closing for the 5th Avenue Chocolatiere project located at 114 Church Street, Freeport.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

Verbena Associates LLC:  Ari Brown made a motion to approve an amended Authorizing Resolution for Verbena Associates, 15 Verbena Avenue, Floral Park,  to include a Mortgage Recording Tax Exemption.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried.

Macerich (Green Acres Adjacent) – Tenant Consent for BJ’s Restaurant and Brewhouse:  Ari Brown made a motion to approve a Tenant Consent for BJ’s Restaurant and Brewhouse for the property located at 750 West Sunrise Highway, Valley Stream.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

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

R & R Cleaning Service Inc.:  Ted Sasso made a motion to approve a Ratifying and Confirming Resolution to pay R & R Cleaning Service Inc. $250.00 to have the IDA office carpets cleaned.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

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

Shor Yoshuv:  This item was tabled to the July meeting.

Minutes:  Ray Maguire made a motion to adopt the Minutes of May 27, 2015. 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 May 21, 2015 – June 17, 2015.  

With all business concluded, Ari Brown made a motion to adjourn the meeting at 9:44 a.m.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

______________________________
Danny Grodotzke, Secretary 
July 22, 2015