TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
BOARD MEETING, OCTOBER 29, 2008, 9:00 A.M.
OLD COURTHOUSE, 350 FRONT STREET, HEMPSTEAD

AGENDA:  Consideration of an Inducement Resolution for 303 Main Residential LLC, Consideration of a supplemental Authorizing Resolution for JS Hempstead, Consideration of an Authorizing Resolution for IEAH, Executive Director’s Report, 2007 Compliance Review, Discussion concerning the transfer of Ownership for East Meadow Assisted Living (Sunrise) from USALF/Sunrise to Health Care REIT, Discussion with regard to the selection of an Engineering Firm (TRC) in response to the RFQ for Covanta, Consideration of a consent for Equus LP to transfer ownership interest to an affiliate J Power,  Discussion and Consideration of an RFQ for the IDA Office Renovation, Adelphi Gala, Approval of the Minutes of 9/24/08, Health Benefits for Edie Longo, Report of the Treasurer, Committee Updates.

Those in attendance: 	Ted Sasso, Chairman
			Paul Conte, Vice Chairman
			Jonathan Kohan, Treasurer
			Al D’Agostino, Member
			Ari Brown, Member
			Patricia Mezeul, Member

Absent:		Cheryl Petri, Secretary

Also in attendance:	Frederick E. Parola, Executive Director/CEO
			Edie M. Longo, Deputy Executive Director/CFO
			Lorraine Rhoads, Agency Administrator
			Arlyn Eames, Deputy Agency Administrator
			William F. Weir, Nixon Peabody
			Ruth Leistensnider, Nixon Peabody
			John Ryan, Ryan, Brennan, Donnelly
			Gene Turner, Consultant

The meeting was called to order at 9:29 a.m.

John Ryan addressed the Board in reference to Patricia Mezeul’s desire to disclose that she deals with municipalities in her banking business and was concerned about conflicts of interest with her serving on the IDA Board.  After speaking with counsel, it was determined that there is no conflict of interest.

303 Main Residential LLC:  Eric Rubenstein, Esq. of Ruskin, Moscou, Faltischek introduced Maria Rigopoulos from the TCR Group.  Ms. Rigopoulos made a presentation to the Board about the proposed 303 Main Resdiential/Alexan on Main residential building in the Village of Hempstead.  303 Main Residential plans to construct a 166 unit, 210,000 sq. ft. multifamily residential building on approximately 1.8 acres.  They are seeking a straight lease and the following benefits: Pilot Agreement, Mortgage Recording Tax Exemption, and Sales Tax Exemption for the construction and renovation period of approximately 18 months. 

Paul Conte made a motion to adopt an Inducement Resolution for 303 Main Residential, LLC.  This motion was seconded by Patricia Mezeul.  All were in favor. Motion carried.

JS Hempstead:  Jonathan Kohan made a motion to adopt an authorizing resolution for JS Hempstead.   This motion was seconded by Ari Brown.  Motion carried.

IEAH:  Ari Brown made a motion to adopt an authorizing resolution for IEAH.  This motion was seconded by Paul Conte. Motion carried.

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

2007 Compliance Review:  The board was advised by Edie Longo that 1001 Realty, Gate Gourmet, and 865 Merrick Partners were all reviewed, at the request of the Board, and the Board was furnished with the updated employment data.  I was determined by the Board that a review of the employment data will be undertaken again in February.

Discussion of Covanta 4th Boiler: Fred Parola introduced Glen Harkness, Bill Miller, and Dave Kettler of TRC.  Patricia Mezeul made a motion to adopt a resolution to ratify and confirm the Executive Directors’ choice of TRC as the company to prepare the environmental assessments for the Covanta 4th Boiler.  This motion was seconded by Jonathan Kohan.  Motion carried.  Ruth Leistensnider of Nixon Peabody presented a resolution to confirm the adoption of a draft scooping document and Positive Declaration for the construction of the 4th Boiler.  Ruth also suggested the scheduling of a Public Hearing to allow for comments on the DEIS.  The Board agreed the Public Hearing will be held November 20, 2008 at 7:00 pm at the Pavilion.  Glen Harkness, of TRC, also agreed with a conservative approach approach because waste management can be controversial. Bill Weir reiterated to the Board that the Town of Hempstead can not give approval for the 4th Boiler until the IDA, as lead agency for the environmental assessments, approves the SEQR.  Patricia Mezeul made a motion to adopt the Positive Declaration and draft scooping document.  The motion was seconded by Jonathan Kohan.  The motion carried.

Equus Power:  This item was tabled until the next meeting.

Molloy College: Ted Sasso made a motion to adopt a resolution to advertise in the Molloy College Ball Journal.  This motion was seconded by Patricia Mezeul.  All were in favor.  Motion carried.

Minutes:  Jonathan Kohan made a motion to adopt the minutes of September 24, 2008.  This motion was seconded by Ari Bown.  All were in favor.  Motion carried.

Discussion with regard to Edie Longo’s post-retirement health insurance benefit:  Fred Parola explained to the Board the need to hire an actuary to give us reliable numbers for the IDA employees post-retirement health benefit.  Ted Sasso made a motion authorizing the Executive Director to obtain such estimates from actuary firms. This motion was seconded by Paul Conte.  All were in favor.  Motion carried.  This item will appear on the December meeting Agenda.

2009 Budget:  Jonathan Kohan made a motion to adopt the 2009 Budget.  This motion was seconded by Ted Sasso.  All were in favor.  The motion carried.

Committee Reports:  John Ryan briefed the Board on the Governance Committee meeting and informed the Board that he and the committee will have a recommendation on the payment of court stenographer fees, as well as an Agency cost/benefit analysis at upcoming meetings.

With all business concluded, Ted Sasso made a motion to close the meeting at 10:58 a.m.  This motion was seconded by Jonathan Kohan.  All were in favor.  Motion carried.

________________________________________
Edie M. Longo
Deputy Executive Director/CFO
December 17, 2008