RESOLUTION
A regular meeting of County of Sullivan Industrial Development Agency (“Agency”) was convened in public session at the Sullivan County Government Center, 100 North Street, Village of Monticello, Sullivan County, New York on August 10, 2015 at 11:00 a.m. local time.
The meeting was called to order by Chairman Ira Steingart, and, upon roll being called, the following members of the Agency were:
PRESENT ABSENT
Ira Steingart [ x ] [ ]
Edward T. Sykes [ x ] [ ]
Suzanne Loughlin [ x ] [ ]
Charles Barbuti, Jr. [ x ] [ ]
Sean Rieber [ x ] [ ]
Howard Siegel [ x ] [ ]
Carol Roig [ x ] [ ]
Paul Guenther [ x ] [ ]
The following persons were also present:
Steve White, Chief Executive Officer
Jennifer C.S. Brylinski, Agency Executive Director
Jennifer M. Flad, Agency Vice-President of Government Affairs and Business Development
The following resolution was duly offered by Howard Siegel, and seconded by Paul Guenther to wit:
Resolution No. 21 – 15
RESOLUTION AUTHORIZING AND APPROVING THE EXECUTION AND DELIVERY OF A COMMERCIAL MORTGAGE IN AN AMOUNT NOT TO EXCEED THREE MILLION AND 00/100 ($3,000,000.00) DOLLARS AND RELATED DOCUMENTS IN FAVOR OF JEFF BANK (“BANK”) RELATING TO THE REAL ESTATE OWNED BY THE AGENCY AND UNDER LEASE TO CATSKILL DISTILLING COMPANY, LTD. (“CATSKILL”) AND REDFORD, LLC (“REDFORD” AND TOGETHER WITH CATSKILL COLLECTIVELY REFERRED TO AS THE “COMPANY”) LOCATED IN THE TOWN OF BETHEL, COUNTY OF SULLIVAN, STATE OF NEW YORK AND BEARING TAX MAP NUMBERS SECTION 22, BLOCK 1, LOT 62 AND SECTION 26, BLOCK 1, LOT 6 (“LAND”)
WHEREAS, the Agency was created by Chapter 560 of the Laws of 1970 of the State of New York, as amended, pursuant to Title I of Article 18-A of the General Municipal Law of the State of New York (collectively, the “Act”) as a body corporate and politic and as a public benefit corporation of the State of New York; and
WHEREAS, the Agency and the Company entered in a Lease Agreement, dated August 12, 2009 (“Lease”) and Payment in Lieu of Tax Agreement (“PILOT”), dated December 12, 2009; and
WHEREAS, on December 9 2009, the Company and Agency joined in a Construction Loan Agreement in an amount of SEVEN HUNDRED FIFTY THOUSAND AND 00/100 ($750,000.00) Dollars together with any and all related documents in favor of Jeff Bank (“Bank”); and
WHEREAS, by the Bank’s Expression of Interest Letter, dated February 20, 2015, the Company requests the Agency (i) join in a mortgage in an amount not to exceed THREE MILLION AND 00/100 ($3,000,000.00) Dollars together with any and all related documents in favor of the Bank, which will be secured by the Land and improvements owned by the Agency and under lease to the Company; and (ii) abate mortgage tax in an amount not to exceed THIRTY THOUSAND AND 00/100 ($30,000.00) Dollars; and
WHEREAS, it is contemplated that the Agency (i) will join in a mortgage and any and all related documents in favor of the Bank; and (ii) abate mortgage tax in an amount not to exceed THIRTY THOUSAND AND 00/100 ($30,000.00) Dollars.
NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE AGENCY AS FOLLOWS:
Section 1. The Chairman or Chief Executive Officer of the Agency, each acting individually, are each hereby authorized, on behalf of the Agency, to execute and deliver a mortgage in an amount not to exceed THREE MILLION AND 00/100 ($3,000,000.00) Dollars in favor of the Bank thereby abating mortgage tax on a mortgage not to exceed THIRTY THOUSAND AND 00/100 ($30,000.00) Dollars in form approved by Counsel to the Agency and with such changes, variations, omissions and insertions as the Chairman or Chief Executive Officer of the Agency shall approve, the execution thereof by the Chairman or Chief Executive Officer of the Agency to constitute conclusive evidence of such approval.
Section 2. The officers, employees and agents of the Agency are hereby authorized and directed for and in the name and on behalf of the Agency to do all acts and things required and to execute and deliver all such certificates, instruments, documents, and to pay all such fees, charges and expenses and to do all such further acts and things as may be necessary or in the opinion of the officer, employee or agent acting on behalf of the Agency desirable and proper to effect the purposes of the foregoing resolutions and to cause compliance by the Agency with all the terms, covenants and provisions of the documents for and on behalf of the Agency.
Section 3. These resolutions shall take effect immediately.
The question of adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:
Ira Steingart [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Edward T. Sykes [ ] Yes [ ] No [ ] Absent [ x ] Abstain
Suzanne Loughlin [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Charles Barbuti, Jr. [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Sean Rieber [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Howard Siegel [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Carol Roig [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Paul Guenther [ x ] Yes [ ] No [ ] Absent [ ] Abstain
The Resolutions were thereupon duly adopted.
STATE OF NEW YORK :
:ss.:
COUNTY OF SULLIVAN :
I, the undersigned Secretary of the County of Sullivan Industrial Development Agency, DO HEREBY CERTIFY THAT:
- I have compared the foregoing copy of a resolution of the County of Sullivan Industrial Development Agency (“Agency”) with the original thereof on file in the office of the Agency, and that the same is a true and correct copy of such resolution and of the proceedings of the Agency in connection with such matter.
- Such resolution was passed at a meeting of the Agency duly convened in public session on the 10th day of August, 2015 at 11:00 a.m. at the Sullivan County Government Center, 100 North Street, Village of Monticello, Sullivan County, New York, at which the following members were present:
PRESENT ABSENT
Ira Steingart [ x ] [ ]
Edward T. Sykes [ x ] [ ]
Suzanne Loughlin [ x ] [ ]
Charles Barbuti, Jr. [ x ] [ ]
Sean Rieber [ x ] [ ]
Howard Siegel [ x ] [ ]
Carol Roig [ x ] [ ]
Paul Guenther [ x ] [ ]
- The question of the adoption of the foregoing resolution was duly put to a vote on roll call which resulted as follows:
Ira Steingart [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Edward T. Sykes [ ] Yes [ ] No [ ] Absent [ x ] Abstain
Suzanne Loughlin [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Charles Barbuti, Jr. [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Sean Rieber [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Howard Siegel [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Carol Roig [ x ] Yes [ ] No [ ] Absent [ ] Abstain
Paul Guenther [ x ] Yes [ ] No [ ] Absent [ ] Abstain
and therefore, the resolution was declared duly adopted.
I FURTHER CERTIFY that (i) all members of the Agency had due notice of said meeting, (ii) pursuant to Sections 103a and 104 of the Public Officers Law, said meeting was open to the general public and public notice of the time and place of said meeting was duly given in accordance with such Sections 103a and 104, (iii) the meeting in all respects was duly held, and (iv) there was a quorum present throughout.
IN WITNESS WHEREOF, I have hereunto set my hand and seal on the 10th day of August, 2015. ____________________________________
Secretary
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