TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING
SEPTEMBER 19, 2012, 9:00 a.m.
OLD COURTHOUSE, 350 FRONT STREET, HEMPSTEAD

Agenda:  Consideration of a Consent to extend the date (October 31, 2012) to terminate the Condominium Declaration with the NYS Attorney General’s Office for Zeus Cottage, Valley Stream, Consideration of a Sales Tax Exemption increase for VIF II Main 303 LLC ($510,000.00), 303 Main Street, Hempstead, Executive Director’s Report, Update by IEAH to Board on status of facility in Elmont: 9:00 a.m., Consideration of an Amended Inducement for Dover Gourmet, Consideration and Adoption of the Minutes of August 22, 2012, Report of the Treasurer, Executive Session, Committee Updates, Unfinished Business

Those in attendance: 	Ted Sasso, Chairman
Al D’Agostino, Secretary
Ari Brown, Member
			Danny Grodotzke, Member 
			Richard Bianculli, Member

Also in attendance:	Edie M. Longo, Deputy Executive Director/CFO
			Lorraine Rhoads, Agency Administrator
                                    Arlyn Eames, Deputy Financial Officer
			Michael Lodato, Deputy Agency Administrator                        
Gene Turner, Consultant

Excused:		Paul Conte, Vice Chairman
			Jonathan Kohan, Treasurer
			John E. Ryan, Agency Counsel 
William F. Weir, Nixon Peabody
Frederick E. Parola, Executive Director/CEO
									
The meeting was called to order at 9:14 a.m.

Executive Session:  Ted Sasso made a motion to go into Executive Session at 9:15 a.m. to discuss a matter of potential litigation.  This motion was seconded by Danny Grodotzke.  All were in favor.  Motion carried. Ted Sasso made a motion to come out of Executive Session at 9:26 a.m. This motion was seconded by Ari Brown.  All were in favor.  Motion carried.   

Ted Sasso made a motion to reopen the meeting at 9:27 a.m. This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.   

(Al D’Agostino arrived at the meeting.)

IEAH:  Lisa A. Cairo of Jaspan Schlesinger addressed the Board as counsel and representative for IEAH regarding the status of the Equine Hospital in Elmont. She explained that the proposed tenant, Palm Beach Equine Medical Center, was no longer a tenant and that IEAH was actively seeking another veterinarian practice to occupy the building located at 111 Plainfield Avenue, Elmont.  She requested that the Board allow IEAH additional time to secure a new tenant.  After an extensive discussion, Ms. Cairo was asked by the Board to convey the following requests to IEAH:  1) PILOT payments must be made current, including the Second Half General PILOT and all applicable late penalties. 2) Communication between the IDA and IEAH must be reinstated.  3) Specific information regarding any new tenants, including commitments and timing, must be disclosed to the Agency. 4) A letter from IEAH stating that the Palm Beach Equine Medical Center is no longer a tenant of the building must be provided to the Agency.  5) Proof that all property maintenance issues have been resolved must be provided to the Agency.  The aforementioned conditions must be satisfied prior to the October 24, 2012 meeting.  This item will appear on the October meeting agenda for an update.

(Al D’Agostino was recused from the following two matters and left the courtroom.)

Zeus Cottage Condominium Declaration:  Ari Brown made a motion to consent to the extension of condominium declaration with the NYS Attorney General’s Office for Zeus Cottage, Valley Stream until October 31, 2012.   This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.   

VIF II Main 303 LLC Sales Tax Exemption Extension: Ted Sasso made a motion to increase the Sales Tax Exemption amount for VIF II Main 303 LLC from $12,000,000.00 to 12.510,000.00.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.

(Al D’Agostino returned to the courtroom.)

Executive Directors Report:  The Board was furnished with a copy of the Executive Director’s Report.  

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

Minutes:  Ted Sasso made a motion to adopt the Minutes of August 22, 2012 as presented to the Board.  This motion was seconded by Rich Boanculli.  All were in favor.  Motion carried.  

Report of the Treasurer:  The Board was furnished with copies of the Financial Statements and Expenditure List for August 15, 2012 – September 12, 2012.  Ted Sasso made a motion to adopt the 2013 Draft Preliminary Budget as presented by the Audit Committee.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.  The final 2013 Budget will appear for consideration on the October meeting agenda.

Committee Updates:  The Advertising Committee was scheduled to meet today at 10:30 a.m.  The Governance and Finance Committee Meetings were to be rescheduled to October 24, 2012 due to a lack of a quorum.  

With all business concluded, Ted Sasso made a motion to close the meeting at 9:58 a.m.  This motion was seconded by Ari Brown.  All were in favor.  Motion carried.
 
_______________________________________
Ted Sasso, Chairman
September 19, 2012