Town of Hempstead
INDUSTRIAL DEVELOPMENT AGENCY
August 24, 2016, 9:00 AM
Old Courthouse, 2nd Floor, 350 Front Street, Hempstead

Agenda:  Presentation and Consideration of an Inducement Resolution for 2701 Associates, Hempstead, Presentation and Request to extend proposed PILOT by Waterview Land Development, LLC, Island Park, Presentation and Consideration of an Inducement Resolution for FAD Henry, Hempstead, Consideration of an Authorizing Resolution and an Amended PILOT Agreement (5-Year Extension) for 2 End Boulevard/Richner Communications, Consideration of an Authorizing Resolution for 1051 Franklin Avenue, LLC, Executive Director’s Report, Discussion and Consideration of Sales Tax Exemption extension for Internal Shoppes project and Employment Shortfall letter, Consideration of a Resolution for Attendance and Registration at the Long Island Business Development Counsel at their Annual Meeting September 21-23, 2016,  Update Circulo del la Hispanidad, Update Shor Yoshuv, Discussion International Shoppes project, Consideration and Adoption of the Minutes of July 27th, 2016, Financial Statements and Expenditure List –July 21, 2016 – August 17, 2016, Discussion of 2017 Preliminary Draft Budget

Those in attendance: 	     Ted Sasso, Chairman
                                         Ari Brown, Vice Chairman
                                         Jonathan Kohan, Treasurer   
                                         Dan Grodotzke, Secretary                
                                         Ray Maguire, Member
                                         Ann DeMichael, Member
                                         Charles Renfro, Hempstead Village Member
                                         Alan Heuson, Hempstead Village Member
  Stacey Hargraves, Hempstead Village Member
                                                                                                              
Also in attendance:         Frederick E. Parola, Executive Director/CEO
                                        Edie M. Longo, Deputy Executive Director/CFO             
                                        Lorraine Rhoads, IDA Agency Administrator
                                        Michael Lodato, Deputy Agency Administrator    
                                        William F. Weir, Nixon Peabody, Transaction Counsel    
                                        John E. Ryan, Agency Counsel                                  

Excused:                         Flo Girardi, Member
                                        Luis Figueroa, Hempstead Village Member
                                        Arlyn Eames, Deputy Financial Officer                                         

The Meeting was called to order at 9:00 AM.   
The Chairman acknowledged that a quorum was present.  

Presentation and Consideration of an Inducement Resolution for 2701 Associates, Hempstead: A Presentation was made by Dan Baker outlining the 2701 Associates project. The Applicant intends to renovate the current building located at 50 Clinton Street within the Village of Hempstead. The building is a 135,000 square foot multi- tenant office building. The renovations and repairs will include: Upgrading of three elevators, replacement of lighting, upgrading façade, removing and replacing glass film for all 719 windows, painting, full HVAC upgrade, air conditioner grills, landscaping and other miscellaneous repairs. The client intends to retain 881 FTE Positions and create another 365 by year 2. A motion was made by Ari Brown to adopt an Inducement Resolution for 2701 Associates and a 10 year PILOT Agreement. This motion was seconded by Ann DeMichael. Motion carried.

Presentation and request of Waterview Land Development, LLC, Island Park, for a consideration of an additional 5 years on proposed PILOT: A Presentation was made by David and Peter Curry requesting an additional 5 years on the proposed IDA Pilot. David and Peter explained the expenses associated with renovating this project after it had received extensive damage from super storm Sandy. A motion was made by Ted Sasso to redevelop a 10 year PILOT with a 4 year freeze and incremental increase to year 10. This motion was seconded by Jonathan Kohan. All were in favor. Motion carried.

Presentation and Consideration of an Inducement Resolution for FAD Henry, Hempstead: A Presentation was made by Dan Baker outlining the Fad Henry project. The applicant intends to construct a new Key Food Supermarket located at 216-228 Henry Street within the Village of Hempstead. The project will be subdivided from its existing parcel which currently houses a CVS. It will be a one story structure with 72 parking spaces, including 4 handicap spaces. The building will be approximately 17,295 square feet with building floor area of 17,745 square feet including 450 square feet of mezzanine space. The total lot is 165,154 square feet. 78,840 square feet will be leased for this project from the current owner of the parcel. The client intends to create 40 FTE positions with local residents by year 2. A motion was made by Alan Heuson to adopt an Inducement Resolution for FAD Henry and a 10 year PILOT beginning with land only value, frozen for the first 4 years. This motion was seconded by Ann DeMichael. All were in favor. Motion carried.
 
Consideration of an Authorizing Resolution and an Amended PILOT Agreement (5-Year Extension) for 2 Endo Boulevard/Richner Communications: .A motion was made by Ari Brown to adopt an Authorizing Resolution extending the Pilot for 2 Endo Boulevard/Richner Communications, LLC for an additional 5 year term. This motion was seconded by Ann DeMichael. All were in favor. Motion carried. 

Consideration of an Authorizing Resolution for 1051 Franklin Avenue, LLC: .A motion was made by Jonathan Kohan to adopt an Authorizing Resolution for and 10 year PILOT 1051 Franklin Avenue, LLC. This motion was seconded by Ann DeMichael. All were in favor. Motion carried. 

Executive Director’s Report:  The Board was furnished with a copy of the Executive Director’s Report. Mr. Parola briefed the Board about potential applications.

Discussion and Consideration of a sales tax exemption for International Shoppes Valley Stream Holdings and Employment shortfall letter: The Board voted to extend the completion date and sales tax exemption date to August 31st, 2017. A motion was made by Ted Sasso. This motion was seconded by Ari Brown. All were in favor. Motion carried. The Employment shortfall/explanation letter was presented to the Board. No action was taken.  

Consideration of a Resolution for the attendance and registration at the Long Island Business Development Counsel at their Annual Meeting, September 21-23, 2016: A motion was made by Ted Sasso to adopt a Resolution to attend the LIBDC Annual Meeting in Montauk, September 21,2016 – September 23, 2016. This motion was seconded by Ray Maguire. All were in favor. Motion carried.

LIBDC Annual Meeting: A motion was made by Ted Sasso to adoption a Resolution to register for the LIBDC Annual Meeting in Montauk, September 21,2016 – September 23, 2016. This motion was seconded by Dan Grodotzke. All were in favor. Motion carried.

Circulo de la Hispanidad: No new information. This item will appear on the next meeting Agenda.
 
Shor Yoshuv: No new information. This item will appear on the next meeting Agenda.

Minutes: A motion was made by Ted Sasso to approve the Minutes of the July 27, 2016 meeting. This motion was seconded by Jonathan Kohan. All were in favor. Motion carried.

Financial Statements & Expenditure Report: The board was furnished with a copy of the Financial Statements and Expenditure List for July 21, 2016 – August 17, 2016.

Discussion of the 2017 Preliminary Draft Budget:  The Board was furnished with a copy of the 2017 Preliminary Draft Budget. 

With all business concluded, Charles Renfro made a motion to adjourn the meeting at 10:30 a.m.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried. 

_______________________________________
Danny Grodotzke, Secretary, September 28, 2016