TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING
OCTOBER 28, 2015, 9:00 a.m.
Old Courthouse, 2nd Floor, 350 Front Street, Hempstead

Agenda: Presentation of Garden City 505 LLC, Consideration of an Inducement for Beechwood Portofino LLC (presentation 9:15 a.m.), Consideration of an Authorizing Resolution for Promenade Central, Consideration of a Tenant Consent for Orlin & Cohen Expansion at HP Lynbrook, 444 Merrick Road, Lynbrook, Consideration of an Authorizing Resolution for Columbia Equipment, Consideration of a Tenant Consent for Green Cube Café, Green Acres Mall, Valley Stream, Consideration of a Tenant Consent for Torrid LLC, Green Acres Mall, Valley Stream, Executive Director’s Report, Consideration and Adoption of the Conflict of Interest Policy, Consideration and Adoption of the Uniform Tax Exemption Policy, Consideration and Adoption of the Governance Committee Charter, Consideration and Adoption of the Finance Committee Charter, Consideration and Adoption of a Resolution Appointing a Procurement Officer, Update Circulo de la Hispanidad, Update Shor Yoshuv, Consideration and Adoption of the Minutes of September 23, 2015,  Report of the Treasurer, Executive Session

Those in attendance: 	Theodore P. Sasso, Jr., Chairman
			Ari Brown, Vice Chairman
			Danny Grodotzke, Secretary
Jonathan Kohan, Treasurer
			Ray Maguire, Member
			Ann DeMichael, Member
			Robert Kennedy, Mayor, Village of Freeport
			Vilma Lancaster, Village of Freeport
			Anthony J. Miller, Village of Freeport
		
Also in attendance:	John E. Ryan, Agency Counsel 
Jessica Paulin, 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 9:02 a.m.  The Chairman declared a quorum was present.  

Garden City 505 LLC:  Peter Curry, Esq., Farrel Fritz, made a presentation to the Board on behalf of Garden City 505 LLC, 1000 Stewart Avenue, Garden City.  The company had requested an amendment of their PILOT Agreement which gives them an additional 8 years to run co-terminus with the Lease Agreement with their tenant Lifetime Brands.  Ted Sasso made a motion to approve the Amended PILOT Agreement. This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

Beechwood Portofino LLC:  Beechwood Portofino LC made a presentation to the Board on their proposed project which consists of the construction of a market rate apartment building and extended stay hotel adjacent to the Meadowbrook Pointe property on Corporate Drive in Westbury.  The 6-story, 195-unit building will also include a gym, game and billiards room, library, swimming pool and a full service restaurant.  The zoning is covered under the PUD district.  The company is seeking a 20 year PILOT Agreement, Sales Tax Exemption and Mortgage Recording Tax Exemption.  Jonathan Kohan made a motion to adopt a preliminary Inducement for this project pending site plan approval. This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

The Promenade at Central:  The Promenade at Central is a 5-story, 72,516 square foot building with 36 units of multi-family housing and retail space to be built at 49 North Central Avenue in the Village of Valley Stream.  Ari Brown made a motion to adopt an Authorizing Resolution for this project.  Benefits will include a 10-year PILOT Agreement and Sales Tax Exemption.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

HP Lynbrook LLC - Tenant Consent for Orlin & Cohen Expansion:  Ted Sasso made a motion to approve an amendment to the tenant consent for Orlin & Cohen Orthopedic Associates to allow them to expand their premises to 43,431square feet of space at 444 Merrick Road, Lynbrook.  This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.

Columbia Equipment:  Columbia Equipment, a manufacturer of bus shelter materials, purchased two buildings, that they were previously leasing, located at 72-88 and 118-122 Albany Avenue in the Village of Freeport.  Jonathan Kohan made a motion to adopt an Authorizing Resolution for this project. Benefits will include a 10 year PILOT Agreement and Mortgage Recording Tax Exemption.  A Sales Tax Exemption may be requested at a later date.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

Valley Stream Green Acres - Tenant Consent for Green Cube Cafe:  Ted Sasso made a motion to approve a tenant consent for Green Cube Cafe, which will occupy 250 square feet of space at the Green Acres Mall, Valley Stream.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

Valley Stream Green Acres - Tenant Consent for Torrid LLC:  Ted Sasso made a motion to approve a tenant consent for Torrid LLC, which will occupy 2611 square feet of space at the Green Acres Mall, Valley Stream.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

John Ryan left the meeting.

Conflict of Interest Policy: Jonathan Kohan made a motion to adopt the Conflict of Interest Policy, as adopted and recommended by the Governance Committee. This motion was seconded by Ray Maguire.  All were in favor.  Motion carried.

Uniform Tax Exemption Policy:  The Uniform Tax Exemption Policy was reviewed by the Governance Committee and revised to meet the policies of the Agency.  After a Public Hearing was held, the Governance Committee voted to approve the policy and presented it to the Board.   Ari Brown made a motion to adopt the Uniform Tax Exemption Policy as recommended by the Governance Committee. This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

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

Finance Committee Charter:  Ari Brown made a motion to adopt the Finance Committee Charter, as adopted and recommended by the Finance and Investment Committee. This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

Procurement Officer:  Ray Maguire made a motion to appoint Fred Parola as the Procurement Officer. 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.

Circulo de la Hispanidad:  This item was tabled.

Shor Yoshuv:  This item was tabled.

Minutes:  Jonathan Kohan made a motion to adopt the Minutes of September 23, 2015. This motion was seconded by Ted Sasso.  All were in favor.  Motion carried.  

Report of the Treasurer:  The Board was furnished with copies of the Financial Statements and Expenditure List for September 17, 2015 – October 21, 2015.  Ted Sasso made a motion to approve the 2015-16 Budget and Four Year Financial Plan, as adopted and recommended by the Audit and Finance and Investment Committees.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

With all business concluded, Dan Grodotzke made a motion to adjourn at 10:04 a.m..  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

______________________________
Danny Grodotzke, Secretary 
October 28, 2015