August 2012 - Empire State Development - New York State

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DRAFT – SUBJECT TO REVIEW AND REVISION The Company, he further explained, has purchased a 49,000 square foot facility in Wyoming County to expand its operations and accommodate additional machinery and equipment. This $1.5 million project, Mr. Lee stated, is expected to be completed in September of 2012 and will create a total of 20 new jobs by 2014. He added that the Company has already created 12 jobs. Mr. Lee then explained that the third project relates to a $99,924 working capital grant for the Research Foundation of the State University of New York. This grant, he continued, will support the second year of operations of a Small Enterprise Economic Development (SEED) Program. Lastly, Mr. Lee noted that the fourth project involves a $7,500 working capital grant for the Buffalo Niagara Partnership for real estate market analysis of commercial vacancy in downtown Buffalo. Mr. Lee added that the analysis was completed in December of 2011 and offered recommendations to convert over two million square feet of working space to mixed use development. 17
DRAFT – SUBJECT TO REVIEW AND REVISION Following the full presentation, the Chair called for questions or comments. Hearing none, and upon motion duly made and seconded, the following resolution was unanimously adopted (It was noted for the record that Director Ciminelli recused himself with regard to the vote on the Buffalo Building Reuse Market Analysis item.): Empire State Economic Development Fund – Findings and Determinations Pursuant to Sections 16-m and 10(g) of the Act; Authorization to Adopt the Proposed General Project Plan; Authorization to Make a Grant and to Take Related Actions; Determination of No Significant Effect on the Environment RESOLVED, that on the basis of the materials presented to this meeting, a copy of which is hereby ordered filed with the records of the Corporation, relating to the Empire State Economic Development Fund Projects identified below (the “Projects”), the Corporation hereby determines pursuant to Section 16-m of the New York State Urban Development Corporation Act of 1968, as amended (the “Act”), that 1. The Projects would promote the economic health of New York State by facilitating the creation or retention of jobs or would increase activity within a municipality or region of the State or would enhance or help to maintain the economic viability of family farms. 2. The Projects would be unlikely to take place in New York State without the requested assistance. 3. The Projects are reasonably likely to accomplish its stated objectives and the likely benefits of the project exceed costs. 4. There are no families or individuals to be displaced from the project area(s); and be it further RESOLVED, that with respect to the General Development Financing Capital Projects, the Corporation does hereby adopt, subject to the requirements of Section 16(2) of the Act, the proposed General Project Plan (the “Plan”) for the Projects submitted to this meeting, together with such changes therein as the President and Chief Executive Officer of the Corporation or his designee(s) may deem appropriate, a copy of which Plan, together with such changes, are hereby ordered filed with the records of the Corporation; and be it further RESOLVED, that upon written finding of the President and Chief Executive Officer of the 18
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FOR CONSIDERATION August 16, 2012 T
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municipality or region of the State
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RESOLVED, that the President and Ch
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A. New York - Restore III - Bush Te
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4. There are no families or individ
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RESOLVED, that the President and Ch
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II. Project Cost and Financing Sour
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operations in the nine-county Regio
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V. Environmental Review ESD staff h
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Regional Internal Harvesting and Ec
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A. City of Yonkers - Saw Mill River
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City of Yonkers - Saw Mill River Da
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City of Yonkers - Saw Mill River Da
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VI. Additional Requirements Pursuan
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RESOLVED, that the provision of ESD
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Community Capital Assistance Progra
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Project Cost and Financing Sources
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This Project will facilitate BNYDC
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August 16, 2012 NEW YORK HARBOR - A
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CURRENT STATUS The 38-year old Proj
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August 16, 2012 BRONX COUNTY - RIVE
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V. Contract Term, Price and Funding
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FOR INFORMATION August 16, 2012 TO:
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Subsidiary Capital Budget Summary V
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Departmental Budget Variance Report
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August 2012 - Empire State Development - New York State

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