TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING
AUGUST 22, 2012, 10:30 a.m.
OLD COURTHOUSE, 350 FRONT STREET, HEMPSTEAD

Agenda:  Discussion Rose Fence PILOT, Executive Director’s Report, Update Discussion on Circulo de la Hispanidad and Peninsula Counseling, Consideration and Approval of an Amended Authorizing Resolution for Village Lofts, Consideration of a Resolution to Support the Hofstra Distinguished Lecture Series 2012/2013, Consideration of a Resolution to Support the LIBDC Annual Conference, October 2012, Consideration of a Resolution to Authorize payment to Gurney’s Inn for the LIBDC Annual Conference, October 2012, Consideration of a Resolution to Authorize payment to the LIBDC for registration at the Annual Conference, October 2012, Consideration of a Resolution to change the September meeting date to September 19, 2012, Inducement Decision on Sollecito Realty, , Consideration of an Amended Inducement for Dover Gourmet, Consideration and Adoption of the Minutes of July 25, 2012, Report of the Treasurer, Executive Session, Committee Updates, Unfinished Business

Those in attendance: 	Ted Sasso, Chairman
Jonathan Kohan, Treasurer 
Al D’Agostino, Secretary
Ari Brown, Member
			Danny Grodotzke, Member 

Also in attendance:	John E. Ryan, Agency Counsel 
William F. Weir, Nixon Peabody
Frederick E. Parola, Executive Director/CEO
Lorraine Rhoads, Agency Administrator
                                    	Arlyn Eames, Deputy Financial Officer
			Michael Lodato, Deputy Agency Administrator                        
Gene Turner, Consultant

Excused:		Paul Conte, Vice Chairman
Richard Bianculli, Member
Edie M. Longo, Deputy Executive Director/CFO
									
The meeting was called to order at 10:30 a.m.

Rose Fence:  Rose Fence did not appear before the Board.  The Board was advised by agency staff that all PILOT payments for the 2011/2012 year were made prior to the meeting.  No action was required.

Executive Directors Report:  The Board was furnished with a copy of the Executive Director’s Report.  Fred Parola updated the Board on the status of several projects including North Shore Linen, which was expected to close on August 23, 2012.

Circulo de la Hispanidad:  Counsel advised that Nixon Peabody is still in discussion with counsel for Circulo de la Hispanidad regarding their failure to provide an Installment Sale Agreement to their bond trustee, US Bank National Association.  This matter has not been resolved.  No action was required.

Peninsula Counseling:  Counsel updated the Board.  No action was required.

Village Lofts: Ted Sasso made a motion to approve an Amended Authorizing Resolution for Village Lofts.  The amendment to the resolution was due to a change in lender and the amount of the loan. This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.

Hofstra Distinguished Lecture Series:  Ted Sasso made a motion to support the Hofstra Distinguished Lecture Series for 2012/2013 for an amount not to exceed $8,250.00.  This motion was seconded by Dan Grodotzke.  All were in favor.  Motion carried.  

LIBDC Annual Conference Support:  Jonathan Kohan made a motion to support the LIBDC Annual Conference in Montauk, October 2012, for an amount not to exceed $2,500.00.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.  

LIBDC Annual Conference/Gurney’s Inn:  Dan Grodotzke made a motion to authorize payment to Gurney’s Inn for the LIBDC Annual Conference, October 2012, for an amount not to exceed $750.00 per person, for a maximum of six people.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.  

LIBDC Annual Conference Registration:  Dan Grodotzke made a motion to authorize payment to the LIBDC for registration for the Annual Conference, October 2012, for an amount not to exceed $150.00 per person, for a maximum of six people.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.  

September Meeting date Change:  Ted Sasso made a motion to change the September Board meeting date to September 19, 2012, due to the Jewish holidays.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.  

Sollecito Realty:  Sollecito Realty made a presentation at the October 26, 2011 Board Meeting on their proposed project at 370 West Merrick Road, Valley Stream.  A decision to induce was tabled at the same meeting.  A decision to induce was also subsequently tabled at the December 14, 2011, December 21, 2011, and January 25, 2012, February 29, 2012, March 21, 2012, April 25, 2012, May 30, 2012, June 27, 2012 and July 25, 2012 Board Meetings.  Ted Sasso made a motion to adopt a preliminary inducement resolution, subject to the submission of the Village of Valley Stream approvals.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.  

Dover Gourmet: This item was tabled until the July meeting. 

Minutes:  Ted Sasso made a motion to adopt the Minutes of July 25, 2012 as presented to the Board.  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 July 18, 2012 – August 15, 2012.  

(Al D’Agostino arrived at the meeting.)

Ted Sasso made a motion to adopt the 2013 Draft Preliminary Budget as presented to the Board by the Finance Committee.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.  

Committee Updates:  There were no Committee updates. The Advertising Committee was scheduled to meet today at 11:30 a.m.

With all business concluded, Ted Sasso made a motion to close the meeting at 11:10 a.m.  This motion was seconded by Dan Grodotzke.  All were in favor.  Motion carried.
 
_______________________________________
Ted Sasso, Chairman
 August 22, 2012