COUNTY OF SULLIVAN INDUSTRIAL DEVELOPMENT AGENCY
One Cablevision Center
Ferndale, New York 12734
(845) 295-2603 – telephone
(845) 295-2604 – fax
RECONVENED
MEETING MINUTES
Friday, February 25, 2011
I. CALL TO ORDER
Assistant Secretary Sykes called to order the reconvened meeting of the County of Sullivan Industrial Development Agency at approximately 10:15 A.M., which was held in the Legislative Committee Room at the Sullivan County Government Center, Monticello, New York.
II. ROLL CALL
Members Present
Charles Barbuti
Cindy Garlinghouse
Harris Alport
Edward Sykes
Steve White
Members Absent
Elwin Wood
Harold Gold
Suzanne Loughlin
Raymond Walter
Staff Present
Jennifer C.S. Brylinski, Exec. Dir.
Elizabeth A. Hunt, Exec. Assistant
Staff Absent
None
Others Present-
Allan C. Scott, ALSCO Management, Inc. /Consultant /IDA CEO
Walter F. Garigliano, Esq., Agency Legal Counsel
Tara Lewis, Garigliano Law Offices
Steven Vegliante, Esq., IDA Special Counsel
Leonard Sparks, Times Herald Record
Claudine Luchsinger, Sullivan County Resident
III. APPROVAL OF MINUTES
None.
IV. BILLS AND COMMUNICATIONS
None.
V. EXECUTIVE DIRECTOR’S REPORT
None.
VI. OLD BUSINESS
Mr. Garigliano presented to the Board a resolution appointing Steven Vegliante as special counsel in connection with Jefferson Development Partners, LLC, et al, (collectively “Jefferson Development”). On a motion by Mr. Barbuti, seconded by Mr. White, the Board voted and the resolution was unanimously passed.
Mr. Vegliante presented to the Board a resolution authorizing the execution and delivery of a Note and Mortgage Modification Agreement of an existing loan in an amount not to exceed $15,000,000 to United States Trust Company, NA, for the benefit of Jefferson Development. On a motion by Mr. Alport, seconded by Ms. Garlinghouse, the Board voted and the resolution was unanimously passed.
Mr. Vegliante presented to the Board a resolution authorizing the execution and delivery of a Fourth Omnibus Amendment to the Project Documents which would extend the IDA’s appointment of Jefferson Development as its agent from January 1, 2011 through and including December 31, 2012 and grant sales tax exemption benefits nunc pro tunc from January 1, 2011 through and including December 31, 2012. Ms. Brylinski commented that the IDA has been receiving a fee from Jefferson Development’s regarding their sales tax abatement savings. Mr. Barbuti questioned the extension period of two years and asked if that extension period was the standard extension time. Mr. Garigliano explained that it is anticipated that the construction on the project will take about 2 years. The matter was discussed by the Board. On a motion by Mr. White, seconded by Mr. Alport, the Board voted and the resolution as unanimously passed with the extension date changed to December 31, 2011 (one year). Mr. Garigliano commented that Jefferson Development will not receive the Sales Tax Exemption letter until the IDA has received their fee for the prior year’s sales tax exemption savings. Please note that Mr. Vegliante then left the meeting.
Mr. Garigliano presented to the Board a resolution authorizing and approving the execution and delivery of a Mortgage Modification and Extension Agreement and related documents in favor of Catskill Hudson Bank relating to the Poley Paving Corporation and BRYNN DYL, LLC project. On a motion by Mr. Barbuti, seconded by Ms. Garlinghouse, the Board voted and the resolution was unanimously passed.
Mr. Garigliano asked if an executive session could be called regarding obtaining legal advice for the projects Paramount Realty Associates LLC and Pine Bush Equipment Co., Incorporated/BTH Properties LLC. (collectively “PBE”). On a motion by Mr. Barbuti, seconded by Mr. Alport the Board unanimously voted to go into executive session at approximately 10:26 A.M.
At approximately 11:15 A.M. Mr. White made a motion to come out of executive session, which motion was seconded by Barbuti, the Board voted and the motion was unanimously carried.
VII. NEW BUSINESS
Mr. Garigliano presented to the Board a resolution authorizing and approving the executive and delivery of a deed and related documents conveying real and personal property from the IDA to PBE and to be recorded in the Office of the Clerk of Sullivan County. On a motion by Mr. Alport, seconded by Mr. Barbuti, the Board voted and the resolution was unanimously passed.
VIII. ADJOURNMENT
Mr. Sykes questioned the Board and those present if there were any further questions or comments. Ms. Luchsinger asked if she could talk to Ms. Brylinski after the meeting. Ms. Brylinski agreed. There being no other public comment, a motion by Mr. Barbuti, seconded by Ms. Garlinghouse, the Board voted and unanimously agreed to adjourn the meeting at approximately 11:16 A.M.
Respectfully submitted:
Elizabeth A. Hunt
Executive Assistant