NEW YORK STATE URBAN DEVELOPMENT CORPORATION d/b/a ...

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A. Precisionmatics Capital (X328) April 17, 2012 The project was complete in November 2011. Financing Uses Amount Financing Sources Amount Percent Renovation $71,000 ESD Grant $100,000 12% Machinery & Equipment 749,375 Company Equity 100,000 12% Furniture fixtures 6,000 Herkimer IDA - Loan* 75,000 9% Soft costs 34,000 Bank of Utica - Loan** 435,375 51% Herkimer IDA Grant 75,000 8% Total Project Costs * 3%/7year/N/A ** 3.35%/5year/N/A ***4%/ 7year/N/A $860,375 Total Project Financing $860,375 100% Grantee Contact Project Team Financial Terms and Conditions: Mohawk Valley Rehbilitation Corporation - Loan*** - John Pustay, Secretary/Treasurer 100 Helmer Avenue West Winfield, NY 13491 Phone: (315) 822-6324 Fax: (315) 822-6944 - Origination Joseph Falcone Project Management Simone Bethune Affirmative Action Denise Ross Environmental Soo Kang 1. Upon execution of the grant disbursement agreement, the Company shall pay a commitment fee of 1% of the $100,000 capital grant ($1,000) and reimburse ESD for all out-of-pocket expenses incurred in connection with the project. 2. The Company will be obligated to advise ESD of any materially adverse changes in its financial condition prior to disbursement. 3. The Company will be required to contribute at least 10% of the total project cost in the form of equity contributed after the Company’s written acceptance of ESD’s offer. Equity is defined as cash injected into the project by the Company or by investors, and should be auditable through Company financial statements or Company accounts, if so 3 75,000 8%
A. Precisionmatics Capital (X328) April 17, 2012 requested by ESD. Equity cannot be borrowed money secured by the assets in the project. 4. Prior to disbursement, the Company must employ at least the number of Full-time Permanent Employees set forth as the Baseline Employment in the table below. A Full-time Permanent Employee shall mean (a) a full-time, permanent, private-sector employee on the Grantee’s payroll, who has worked at the Project Location for a minimum of thirty-five hours per week for not less than four consecutive weeks and who is entitled to receive the usual and customary fringe benefits extended by Grantee to other employees with comparable rank and duties; or (b) two part-time, permanent, private-sector employees on Grantee’s payroll, who have worked at the Project Location for a combined minimum of thirty-five hours per week for not less than four consecutive weeks and who are entitled to receive the usual and customary fringe benefits extended by Grantee to other employees with comparable rank and duties. 5. Up to $100,000 will be disbursed to the Grantee in three installments as follows: a) an Initial Disbursement of an amount equal to 50% of the grant ($50,000) upon completion of the project substantially described in these materials, documentation of purchase and installation of approximately $749,375 in machinery and equipment, documentation verifying total project expenditures of approximately $860,375, and documentation of the employment of at least 47 Full-time Permanent Employees at the Project Location, assuming that all project approvals have been completed and funds are available; b) a Second Disbursement of an amount equal to 25% of the grant ($25,000) will be disbursed upon documentation of the employment of at least 50 Full-time Permanent Employees at the Project Location (Employment Increment of 3), provided Grantee is otherwise in compliance with program requirements; c) a Third Disbursement of an amount equal to 25% of the grant ($25,000) will be disbursed upon documentation of the employment of at least 52 Full-time Permanent Employees at the Project Location (Employment Increment of 2), provided Grantee is otherwise in compliance with program requirements. Payment will be made upon presentation to ESD of an invoice and such other documentation as ESD may reasonably require. Expenses must be incurred on or after December 27, 2010, to be considered eligible project costs. All disbursements must be requested by April 1, 2014. 6. ESD may reallocate the project funds to another form of assistance, at an amount no greater than $100,000, for this project if ESD determines that the reallocation of the assistance would better serve the needs of the Company and the State of New York. In no event shall the total amount of any assistance to be so reallocated exceed the total 4
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NEW YORK STATE URBAN DEVELOPMENT CO
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II. DISCRETIONARY PROJECTS - Contin
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DRAFT - SUBJECT TO REVIEW AND REVIS
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FOR CONSIDERATION April 17, 2012 TO
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funds used to capitalize Innovate N
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VI. Affirmative Action ESD’s Non-
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Schedule A Innovate NY Fund- Summar
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FOR CONSIDERATION April 17, 2012 TO
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Size: STREDC has a board consisting
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c) a Third Disbursement of an amoun
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April 17, 2012 Regional Council Awa
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Rural Initiative Venture Fund South
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Proposed Project: Establish a regio
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Grantee Contact: Diane Lantz, Execu
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9. ESD may reallocate the project f
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RESOLVED, that the President and Ch
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Proposed Project: Establish a regio
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enhance the effectiveness of ESD’
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8. Grantee will report quarterly on
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April 17, 2012 Regional Council Awa
Page 67 and 68: FOR CONSIDERATION April 17, 2012 TO
Page 69 and 70: Market: Real Estate and Industrial/
Page 71 and 72: the Grantee for expenditures incurr
Page 73: 7 April 17, 2012 Chazy (North Count
Page 87 and 88: Regional Council: The Central New Y
Page 89 and 90: Project Team: Origination Ray Lawre
Page 91 and 92: is less than eighty-five percent 85
Page 93 and 94: V. Environmental Review ESD staff h
Page 95 and 96: State Division of the Budget; and b
Page 97 and 98: Huhtamaki MAP Capital Fulton Oswego
Page 99 and 100: Employment: Initial employment at t
Page 101 and 102: 300,000 packed boxes to 700,000 pac
Page 103 and 104: (iv) 40% of the disbursed amount if
Page 105 and 106: VI. Affirmative Action ESD’s Non-
Page 107 and 108: RESOLVED, that the President and Ch
Page 109 and 110: Project Summary Benefit-Cost Evalua
Page 111 and 112: FOR CONSIDERATION April 17, 2012 TO
Page 113 and 114: 2. Each proposed project would be u
Page 115 and 116: RESOLVED, that the President and Ch
Page 117: A. Precisionmatics Capital (X328) A
Page 121 and 122: Baseline Employment A. Precisionmat
Page 123 and 124: B. D4 Capital (X249) April 17, 2012
Page 129 and 130: Strategic Investment Program (Senat
Page 131 and 132: April 17, 2012 Local Assistance - F
Page 133 and 134: April 17, 2012 Strategic Investment
Page 135 and 136: A. GGLDC - Western New York Science
Page 137 and 138: GGLDC - Western New York Science, T
Page 143 and 144: EXHIBIT A STATE ENVIRONMENTAL QUALI
Page 145 and 146: e-orienting proposed development ar
Page 147 and 148: approximately 24,000 linear feet of
Page 149 and 150: In addition to the site selection c
Page 151 and 152: natural gas, electricity, or broadb
Page 153 and 154: The Project will require additional
Page 155 and 156: Findings While it is impossible to
Page 157 and 158: Work within streams and other water
Page 159 and 160: consideration the data provided wit
Page 161 and 162: Project Site will be set aside as c
Page 163 and 164: Air pollution control systems inclu
Page 165 and 166: Intersection turning movement traff
Page 167 and 168: threshold is reached or when the Pr
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e limited to smaller buildings whic
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In addition to the required alterna
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. Implementation of the recommendat
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Potential for increase in motor veh
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year old age range from the Genesee
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Agricultural Resources Discussion o
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cumulative impacts are impacts on t
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Ancillary/Secondary Growth The Proj
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epresents less than 1% of the total
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utilization of renewable energy res
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CERTIFICATION OF FINDINGS Having co
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B. Town of Islip - Drainage Improve
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Financial Terms and Conditions: Tow
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FOR INFORMATION April 17, 2012 TO:
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CO. VENDOR NAME ORIG CONT DATE REAS
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NEW YORK STATE URBAN DEVELOPMENT CORPORATION d/b/a ...

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