January 24, 2013 - City of Syracuse

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James Street Apartments, LLC Ms. Katzoff advised the Board the Company was requesting an extension of its sales tax appointment through December 31, 2013. She noted the Project was well underway but the Company needed additional time for a full completion. As the Board members indicated their agreement, Mr. Ryan asked for a motion to approve the resolution. Mr. Schoenwald made the motion. Mr. Gamage seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION APPROVING AN EXTENSION OF THE SALES TAX APPOINTMENT AGENT STATUS OF JAMES STREET APARTMENTS, LLC UNTIL DECEMBER 31ST, 2013. CNY Affordable Properties, Inc. Mr. Walsh advised the Board they were being asked to authorize a Public Hearing for the Project. He noted, as reported by Mr. Ryan previously, individual members of the Finance Committee had additional questions about the Project and he would be meeting with them to provide further information. Mr. Ryan noted the Committee agreed to authorize a Public Hearing with the understanding that it would reserve the right to cancel the Hearing if all members were not comfortable with the additional information provided. With the aforementioned understanding, Mr. Ryan asked for a motion to authorize a Public Hearing for the Project. Mr. Schoenwald made the motion. Ms. Hunter seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION DETERMINING THAT THE GRANTING BY THE AGENCY OF A REIMBURSABLE GRANT TO THE COMPANY IN AN AMOUNT NOT TO EXCEED $500,000 IN CONNECTION WITH A CERTAIN ECONOMIC DEVELOPMENT PROJECT CONSTITUTES A PROJECT AND AUTHORIZING A PUBLIC HEARING. Bank Alley Mr. Walsh requested the Board authorize a Public Hearing for the Project. He noted, as reported by Mr. Ryan, the Finance Committee had reviewed the Project and was recommending the Board approve funding for the Project with an increase in the amount to $225,000. Mr. Ryan asked for a motion to approve a resolution authorizing authorizing a Public Hearing for the Project. Mr. Gamage made the motion. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION DETERMINING THAT THE ISSUANCE BY THE AGENCY OF A REIMBURSABLE GRANT TO THE CITY OF SYRACUSE IN AN AMOUNT NOT TO EXCEED $225,000 IN CONNECTION WITH A CERTAIN ECONOMIC DEVELOPMENT PROJECT CONSTITUTES A PROJECT AND AUTHORIZING A PUBLIC HEARING. Infinity Armory, LLC Mr. Walsh advised the Board they were being asked to authorize a Public Hearing for the Project. He briefly reviewed the Project noting it entailed the renovation of the largely vacant former Wells & Coverly building on South Salina Street at an anticipated cost of $2.9 million dollars. He then introduced 4
an owner of the Company, Kevin Samolis, and asked that he briefly address the Board regarding the Project. Mr. Samolis said he and his wife Nicole, the owners of the Events Company, are undertaking the Project to acquire and renovate the building for use as a venue for social and corporate events. He noted they were excited to be part of the ongoing revitalization of Salina Street and anticipated the Project would be completed before the end of the year, creating an estimated 20 part time job positions. After some discussion Mr. Ryan asked for a motion to authorize a Public Hearing. Mr. Schoenwald made the motion. Ms. Hunter seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A RESOLUTION DETERMINING THAT THE ACQUISITION, RENOVATION, CONSTRUCTION AND EQUIPPING OF A CERTAIN PROJECT AT THE REQUEST OF THE COMPANY CONSTITUTES A PROJECT AND DESCRIBING THE FINANCIAL ASSISTANCE IN CONNECTION THEREWITH AND AUTHORIZING A PUBLIC HEARING. VIII. Other Business Mission Statement and Performance Measures Mr. Walsh advised the Board they were being asked to approve a proposed Mission Statement and establish performance measures for the Agency as required under the Public Authorities Law. He noted the proposals included in the Board’s Agenda packet were revised in discussions with Catherine Richardson, a Governance Committee member, after an initial review by that Committee. After a brief discussion Mr. Ryan asked for a motion to adopt the proposed Mission Statement and performance measures for the Agency. Mr. Gamage made the motion. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS UNANIMOUSLY APPROVED THE PROPOSED MISSION STATEMENT AND PERFORMANCE MEASURES AS PRESENTED. Acknowledgement of Fiduciary Duty Mr. Walsh noted the Board’s Agenda packet included an Acknowledgement of Fiduciary Responsibility required to be reviewed and signed by Board members under the Public Authorities Law. He asked that each Board member either sign or re‐sign the statement and return to him. Reschedule February 2013 Board Meeting Mr. Walsh noted it appeared the February Board meeting would need to be rescheduled. He said he would advise the Board of the date and time as soon as possible. IX. Executive Session – Mr. Ryan made a motion to move into executive session to discuss potential litigation involving Destiny USA. Mr. Schoenwald seconded the motion. ALL BOARD MEMBERS PRESENT UNANIMOUSLY APPROVED A MOTION TO MOVE INTO EXECUTIVE SESSION FOR DISCUSSION OF POTENTIAL LITIGATION AT 9:24 A.M. 5
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January 24, 2013 - City of Syracuse

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