Town of Hempstead
INDUSTRIAL DEVELOPMENT AGENCY
April 27th, 2016, 9:00 AM
Courtroom, 2nd Floor, 350 Front Street, Hempstead

Agenda:  Consideration of an Authorizing Resolution for Hempstead 209, LLC, Consideration of an Inducement Resolution for Gateway Holdings, LLC, Garden City, 9:00 a.m. Presentation, Consideration of an Inducement Resolution for KRM 5 Towns, LLC Lawrence, 9:30 a.m. Presentation, Downtowns Urban America, Hempstead, 9:45 a.m. Presentation, Consideration of amended PILOT schedule for Village Lofts, Executive Director’s Report, Compliance Review 2015, Consideration of Employment Shortfalls, Consideration of a Resolution to Change the May Meeting Date, Update Circulo del la Hispanidad, Update Shor Yoshuv, Discussion of International Shoppes project, Consideration and Adoption of the Minutes of March 29th, 2016, Financial Statements and Expenditure List – March 23,2016 – April 20, 2016. 

Those in attendance: 	     Ted Sasso, Chairman
                                         Ari Brown, Vice Chairman
                                         Jonathan Kohan, Treasurer   
                                         Dan Grodotzke, Secretary                
                                         Ray Maguire, Member
                                         Ann DeMichael, Member
                                         Flo Girardi, Member
Charles Renfroe, Hempstead Village Member
                                         Alan Heuson, Hempstead Village Member
  Stacey Hargraves, Hempstead Village Member
                                         Luis Figueroa, 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:                          Arlyn Eames, Deputy Financial Officer

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

Consideration of an Authorizing Resolution for Hempstead 209, LLC: A motion was made by Ari Brown to adopt an Authorizing Resolution for Hempstead 209, LLC. This motion was seconded by Ann DeMichael. All were in favor. Motion carried.

Consideration of an Inducement Resolution for Gateway Holdings, LLC, Garden City: A presentation was made by Dan Deegan and Thomas Santucci outlining the Gateway Holdings, LLC project. The client is in contract to purchase a 5,800 square foot,  two-story office building located at 390 Old Country Rd., Garden City on approx. .50 acres. The company intends to renovate and upgrade the property. A motion was made by Jonathan Kohan to adopt an Inducement Resolution for Gateway Holdings, LLC. This motion was seconded by Ray Maguire. All were in favor. Motion carried. 

Consideration of an Inducement Resolution for KRM 5 Towns, LLC, Lawrence: A presentation was made by Dan Baker outlining the KRM 5 Towns,LLC project. The project will include acquisition of the leasehold and renovation of an existing (closed) Supermarket located at 11 Lawrence Lane, Lawrence. The building is approximately 44,500 square feet with 89,000 square feet of parking.  The building is in disrepair needing a new roof, refrigeration, flooring, façade, food cases and interior renovations.  This is a retail facility with a feasibility study stating over 51% of the customers traveling to the supermarket outside the Town of Hempstead.  (See Attached)  KRM will be required to purchase the facility from the family trust within 2.5 years.A motion was made by Ari Brown to adopt an Inducement Resolution for KRM 5 Towns, LLC. This motion was seconded by Jonathan Kohan. All were in favor. Motion carried. 

Downtowns Urban America, Hempstead: A presentation was made by Dan Deegan outlining the Renaissance project. The project is in the Village of Hempstead. It was followed up with a brief presentation of support by, Reginald Benjamin, Martin Cantor and Mayor Wayne Hall. A motion was made by Stacey Hargraves. This motion was seconded by Alan Heuson to proceed to a public hearing on the project as soon as practicable. All were in favor. Motion carried. 

Consideration of an amended PILOT schedule for Village Lofts: This item has been tabled until the May meeting.

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.

Compliance Review 2015, Consideration of Employment Shortfalls: Mr. Parola made the Board aware of some of the employment shortfalls on certain projects. He requested we ask the applicants who are in a shortfall to make a presentation to the Board to explain their shortfall. The item will appear on the May meeting agenda. 

Consideration of a Resolution to change the May Meeting Date: A motion was made by Ted Sasso to adopt a Resolution changing the May IDA meeting date to May 18th, 2016. This motion was seconded by Flo Girardi. All were in favor. Motion carried. 

Circulo de la Hispanidad: This item will appear on the next meeting Agenda.
 
Shor Yoshuv:
 This item will appear on the next meeting Agenda.

Discussion of International Shoppes project:
The Agency is waiting on update of the new project scope from International Valley Stream Holdings’ Counsel. Fred recommends we ask them to come in and outline the changes with the project. 

Minutes of the March 29, 2016 Board Meeting: A motion was made by Jonathan Kohan to approve the minutes of the March 29, 2016 meeting. This motion was seconded by Ray Maguire. 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 March 23, 2016 – April 20, 2016.

With all business concluded, Charles Renfroe made a motion to adjourn the meeting at 10:15 a.m.  This motion was seconded by Ray Maguire.  All were in favor.  Motion carried. 

_______________________________________
Ari Brown, Secretary, May 18th, 2016