TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING, SEPTEMBER 21, 2011
OLD COURTHOUSE, 350 FRONT STREET, HEMPSTEAD

Agenda:  Consideration of an Amended PILOT for N and D Restaurants (Seasons 52), Consideration of Authorizing Resolution and Adoption of a PILOT for Lakeview Auto Sales and Service, Consideration of an Authorizing Resolution for 110 Graham Realty, Presentation and Consideration of an Inducement Resolution for Dover Gourmet, 9:15 a.m., Presentation and Consideration of an Inducement Resolution for Burnside Realty, 9:30 a.m., Executive Directors Report, Defeasance of Franklin Hospital Medical Center Bonds (1998 and 2002), Consideration of a Consent to Remove a Letter of Credit for Hebrew Academy of the Five Towns, Consideration of a Resolution for the Hofstra Breakfast Lecture Series, Consideration of a Tenant Consent for LA Fitness to be located at 711 Stewart Avenue, Garden City (AG Metropolitan/711 Stewart LLC), Consideration of a Ratifying and Confirming Resolution for R & R Cleaning Services, Consideration  of a Refinance for 865 Merrick Avenue LLC, Consideration of a Tenant Consent for Shake Shack to be located at Equity One, Old Country Road, Westbury, Consideration of a Tenant Consent for Ulta Cosmetics to be located at Equity One, Old Country Road, Westbury, Consideration of an Amended Resolution Consenting to the Refinance of 711 Stewart Avenue LLC, Consideration and Adoption of the Minutes of August 17, 2011, Treasurer’s Report and Consideration of a Preliminary Draft Budget for 2012 as reviewed y the Audit Committee

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

Also in attendance:	William F. Weir, Nixon Peabody
			John E. Ryan, Agency Counsel
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

Absent: 		Jonathan Kohan, Treasurer 
			Gene Turner, Consultant

The meeting was called to order at 9:08 a.m.  

N and D Restaurants (Seasons 52):  Seasons 52 will be a new restaurant owned by the N and D Restaurant group to be located at Roosevelt Field Mall, Garden City, next to the Grand Lux Cafe.  It will be the first Seasons 52 restaurant to open in New York State. The property is approximately 16,000 square feet, with a 12,690 square foot building to be constructed.  The project was approved and a draft PILOT was presented to the Board at the July 27, 2011 Board meeting.  Ted Sasso made a motion to adopt an amended PILOT for this project.  This motion was seconded by Ari Brown.  All were in favor. Motion carried.

Lakeview Auto Sales and Service:  This project is located at 650 Sunrise Highway in the Village of Rockville Centre.  The company is seeking benefits for the expansion and renovation of the current building, which is used as a Mercedes Benz sales and leasing center.  The renovation will include a new façade and interior.  Benefits would include a 10-year PILOT Agreement, Sales Tax exemption and Mortgage Recording Tax Exemption.  The IDA received a letter from Kenneth Auerbach of Sahn, Ward, Conschignano & Baker, counsel to the Village of Rockville Centre, in which he asked, on behalf of the Village, that the Board consider tabling any decisions regarding this project until the next IDA Board meeting.  Daniel S. Baker, of the same law firm, was present and expressed the opposition by the Village of Rockville Centre to granting benefits to Lakeview Auto Sales and Service.  Mr. Baker explained that the Village of Rockville Centre would like more time to further discuss the open certiorari cases with the applicant.   Eric Rubenstein, of Ruskin, Moscou, Faltischeck , representing Lakeview Auto Sales and Service told the Board that he opposes any adjournment of consideration of benefits on behalf of his client.  Fred Parola reiterated to the Board that he believes the PILOT to be reasonable.  Ted Sasso reminded the Board and audience that zoning and tax assessment issues are matters to be discussed between the applicant and the Village, having nothing to do with the IDA.  Ted Sasso made a motion to adopt a PILOT and an authorizing Resolution for this project.  This motion was seconded by Rich Bianculli.  All were in favor. Motion carried.

110 Graham Realty:  This project, located at 110 West Graham Avenue in the Village of Hempstead, consists of the purchase and renovation of a 97,000 square foot, two-story automobile repair facility for Mercedes Benz, including indoor parking and a car wash.  Ari Brown made a motion to adopt a PILOT and an authorizing Resolution for this project.  This motion was seconded by Dan Grodotzke.  All were in favor. Motion carried.

Dover Gourmet:  Dover Gourmet seeks to acquire and renovate a one-story, 30,000 square foot building located at 27 St. John’s Place in the Village of Freeport, for their food manufacturing, distribution and sales facility.  The company services 60 vendor trucks, 40 food service establishments, 1400 vending machines, one beach club, and one catering facility.  They are seeking a ten to fifteen year PILOT Agreement, Mortgage Recording Tax Exemption, and Sales Tax exemption for the renovation period of approximately 12 months.  Ari Brown made a motion to induce this project.  This motion was seconded by Al D’Agostino.  All were in favor. Motion carried.

Burnside Realty: Burnside Realty is seeking IDA benefits for the construction of a one-story, 4,000 square foot building on 12,700 square feet of located at 610-614 Burnside Avenue in Inwood, for their building supply facility.  They are seeking a ten year PILOT Agreement, Mortgage Recording Tax Exemption, and Sales Tax exemption for the construction and renovation period of approximately 18 months. Ted Sasso made a motion to induce this project.  This motion was seconded by Dan Grodotzke.  All were in favor. Motion carried.

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

Franklin Hospital Medical Center Bonds:  For informational purposes, the Board was presented with a letter from Orrick, Herrington, Sutcliffe advising the Agency of the Intent of FHMC to defease the 1998 B Bonds and the Series 2002 Bonds.

Hebrew Academy:  Ari Brown made a motion to consent to the termination of a letter of credit for the Series 2006 Tax exempt bonds for the Hebrew Academy of the Four Towns and Rockaway.  This motion was seconded by Paul Conte.  All were in favor. Motion carried.

Hofstra Distinguished Lecture Series:  Fred Parola and the Advertising Committee evaluated the costs and effectiveness of attendance at the Hofstra Distinguished Lecture Series on the advertising strategies for business development of the agency.  Their recommendation was to reduce the Agency’s partcipation of the meetings for 2011/2012.  Ted Sasso made a motion to authorize payment of $6,500 to Hofstra University for the Distinguished Lecture Series.  This motion was seconded by Paul Conte.  All were in favor. Motion carried.

AG Metropolitan/711 Stewart Avenue LLC Tenant Consent for LA Fitness:  AG Metropolitan/711 Stewart Avenue LLC requested approval of a new tenant, LA Fitness, at the property located at 711 Stewart Avenue, Garden City.  Rich Bianculli made a motion to consent to the new tenant.  This motion was seconded by Al D’Agostino.  All were in favor. Motion carried.

R & R Cleaning Services: Ted Sasso made a motion to adopt a ratifying and confirming Resolution for R & R Cleaning Services for cleaning the carpet in the IDA office.  This motion was seconded by Al D’Agostino.  All were in favor. Motion carried.

865 Merrick Avenue LLC Refinancing:  Ted Sasso made a motion to approve a censent to refinance the original mortgage for 865 Merrick Partners LLC for an amount not to exceed $18,000,000.00.  This motion was seconded by Ari Brown.  All were in favor. Motion carried.

Equity One Tenant Consent for Shake Shack:  Equity One requested approval of a new tenant, Shake Shack, at the property located at 900 Old Country Road in Westbury.  Ted Sasso made a motion to consent to the new tenant.  This motion was seconded by Dan Grodotzke.  All were in favor. Motion carried.

Equity One Tenant Consent for Ulta Cosmetics:  Equity One requested approval of a new tenant, Ulta Cosmetics, at the property located at the property located at. 900 Old Country Road in Westbury. Ted Sasso made a motion to consent to the new tenant.  This motion was seconded by Paul Conte.  All were in favor. Motion carried.

AG Metropolitain/711 Stewart Avenue LLC Refinancing: AG Metropolitan/711 Stewart LLC requested consent to the amendment and refinancing of three mortgages: an acquisition loan mortgage, a project loan mortgage, and a construction loan mortgage. Rich Bianculli made a motion to consent to the requested refinancing.  This motion was seconded by Paul Conte.  All were in favor. Motion carried.
 
Minutes:  Ari Brown made a motion to adopt the Minutes of August 17, 2011.  This motion was seconded by Dan Grodotzke.  All were in favor. Motion carried.

Report of the Treasurer:  The Board was furnished copies of the Financial Statements and Expenditure List for August 17, 2011 – September 20, 2011.  Ted Sasso   Ari Brown

With all business concluded, Paul Conte made a motion to close the meeting at 9:57 a.m..  This motion was seconded by Rich Bianculli.  All were in favor.  Motion carried.

________________________________________
Al D’Agostino, Secretary 
September 21, 2011