JCIDA-2015-2016-Annual Report - Final - Single Page

ANNUAL
REPORT
2015-2016
Jefferson County Industrial Development Agency
Jefferson County Local Development Corporation
Jefferson County Civic Facility Development Corporation
800 STARBUCK AVE., SUITE 800, WATERTOWN, NEW YORK 13601 / WWW.JCIDA.COM / TELEPHONE: (315)782-5865
1

A Message From The Chief Executive Officer
2016 has been a significant year of investment in infrastructure for
the Jefferson County Industrial Development Agency…2017
promises more of the same.
The word ‘infrastructure’ means a variety of things to each of us.
Bridges, roads, water and sewer lines quickly come to mind when
the term is discussed. For those of us engaged in the economic
development business, infrastructure typically takes on an even
broader meaning.
In our case, infrastructure provides vehicles that enable us to further
develop our County….that satisfy a need or create a development
opportunity. The under-lying criteria used by our Board of Directors
when considering investment in infrastructure is ‘will the investment
create or foster a mechanism by which we are then able to create
or retain jobs.
This year, the Agency has been involved in a number of infrastructure
activities, using our broader definition…some in the traditional
context but many not typically thought of.
After many months of activity, the Agency joined with two other
Counties, St. Lawrence and Lewis in support of significant upgrades
to our rail infrastructure on behalf of the Mohawk Adirondack and
Northern rail line. Activities that are bringing back to life, a significant
transportation link that will create a development corridor throughout
those Counties and protecting an asset vital to two major employers
in our County.
We have noticed a resurgence of the importance of freight rail as it
continues to be sought by heavy industry and we believe this rail line
will become an increasingly important attraction device as we look
to develop this region.
In addition, the Agency has taken the lead over the last three years in
the development of distributive energy projects called micro grids.
These initiatives will allow the County to generate and distribute
energy in smaller, customer-driven enclaves which will provide
employers with a self sustaining, clean energy innovation ecosystem
not totally dependent on a higher cost, aging and perhaps vulnerable
grid system.
The focus initially will be deployment of a micro grid for our current
Jefferson County Corporate Park. This proof-of-concept project
will then be replicated throughout the County to offer unequalled
development opportunities for companies looking to expand or
relocate to our community.
Your IDA is a leader in the State in development of these micro grids
and by way of vindication of the concept, they have now become an
integral part of the Governor and Legislature supported Reforming
the Energy Vision (REV) initiative to change the way in which
energy is generated and distributed throughout our State.
One may not consider a meat process plant as infrastructure,
however it is. With Agriculture such a key economic engine in the
North County, providing a value-added structure enables our Ag
community to establish a higher level of profitability while producing
increasing net income to our community and added jobs to the
County. The Agency continues to deploy resources in pursuit of this
major endeavor.
Perhaps most visible, is the investment the Agency is making on behalf
of the community in developing its new Watertown International
Business Park adjacent to the Watertown International Airport.
Hundreds of thousands of dollars have already been invested in
land acquisition, environmental compliance issues, engineering and
planning and host of other activities which will ultimately lead to
another important development asset for our County.
It is hoped that, working with our surrounding communities and
Jefferson County, we will be able to begin our first private-sector
company project in the Spring-Summer of 2017.
Often missed is the amount of resources that must be devoted to
infrastructure which provide for the very fundamentals for continued
growth and development in our County.
As long as investments continue to be made in infrastructure---
however, you define it---our Jefferson County future remains bright.
Donald C. Alexander, Chief Executive Officer
2

Those Committed To Helping Us Succeed
Board of Directors
The JCIDA’s board of directors is made up of
dedicated and experienced individuals who strive
to improve the County. They are appointed by
the Jefferson County Board of Legislators
(JCBOL).
Officers
President
David Converse
President, Converse Laboratories Inc.
4/2/1996 (Serves at the pleasure of JCBOL)
Vice-Chairman
Kent D. Burto
Real Estate Associate Broker, Hunt Real Estate
2/7/2012 – 12/31/2015
Treasurer
Michelle D. Pfaff
VP Community Bank NA, Retired
8/7/2001 (Serves at the pleasure of JCBOL)
Secretary
W. Edward Walldroff
Owner, Homestead Fields Organic Farms
3/3/2009 (Serves at the pleasure of JCBOL)
Directors
Robert E. Aliasso
Vice President, Stebbins Engineering, 2/9/2016
Donald DiMonda
Retired, 12/11/2012 – 12/31/2016
Richard Duvall
CEO Carthage Area Hospital
Dan Estal
Car-Freshner Corporation
John Jennings
Great Lakes Cheese
Thank you Michelle Pfaff
for your service to Jefferson
County, NY on the JCIDA/
LDC Boards. Your knowledge
and leadership will be missed!
Jeremiah Maxon
Jefferson County Board of Legislators, 2/9/2016
Staff
Donald C. Alexander, Chief Executive Officer
David J. Zembiec, Deputy Chief Executive Officer
Lyle V. Eaton, Chief Financial Officer
Jay M. Matteson, Agricultural Coordinator
F. Marshall Weir, Director of Marketing
Peggy S. Sampson, Executive Assistant
Joy E. Nuffer, Office Assistant
3

JCIDA 2015-2016 Highlights
Mission Statement:
The Jefferson County Industrial Development Agency’s (JCIDA) mission is to advance the job
opportunities, health, general prosperity and economic welfare of the people of the County and to
improve their recreation opportunities, prosperity and standard of living. As a result of its varied
economic development tools, the JCIDA is a lead economic development entity in Jefferson County,
and as such, consistently makes substantial contributions to increasing employment opportunities,
preserving existing levels of employment and enhancing the quality of life for residents of Jefferson
County. The JCIDA is a corporate governmental agency, constituting a public benefit corporation,
created to actively promote, attract, encourage, develop and maintain economically sound commerce
and industry for the purpose of expanding employment opportunities, preventing economic deterioration
and increasing the general prosperity of Jefferson County. The JCIDA is a leader in syndicate lending
designed to assist the establishment of new businesses as well as expand existing business in the
community. The JCIDA plays an integral role in shaping strategic plans for the economic future of
Jefferson County as well as Northern New York.
Values:
Integrity – JCIDA deals openly, honestly and in good faith, both internally and externally. The JCIDA
deploys its resources in a manner that is transparent to the public and for the good of the community.
Economic Development – JCIDA consistently seeks to expand the economy of Jefferson County
by way of increasing the opportunity for quality employment within the community and preventing
economic deterioration.
Community – JCIDA seeks to accomplish its goals in a manner that contributes to improving the
quality of life for the residents of our community.
JCIDA Programs:
The JCIDA administers programs that help local businesses, and businesses from outside the area that
are looking to locate here with start-up, expansion and retention projects. These programs include: the
Revolving Loan Fund, the Microenterprise Loan Fund, taxable and tax exempt Industrial Development
Revenue Bonds, Sale leaseback Transactions, and Payment In Lieu of Taxes agreements (P.I.L.O.T.).
From time to time, the JCIDA has also acted as a “pass through” for companies who have received
grants from such entities as the USDA, and Empire State Development.
For more information regarding these programs, please contact Don Alexander or David Zembiec at
the JCIDA office 315-782-5865.
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JCIDA 2015-2016 Highlights
PILOTS
NY Air Brake, LLC.
New York Air Brake constructed
and equiped a 9800sq.ft. testing
laboratory. Due to increasing
competitiveness within the train
braking industry, New York Air Brake
is forced to provide a much more
technically advanced product that
will provide customers more options
and more value. To reach this end,
New York Air Brake added the testing
laboratory to develop new products
and improve on existing designs.
This project will cost $3,141,628
and retained 545 jobs and create 10
new professional engineering jobs and
support 22 construction jobs.
Roth Industries
The $6,000,0000 project will include
a 27,000 sq. ft. expansion, the
installation of a new blow molding
machine, and the creation of at least
twelve new jobs—six upon completion
of the project, with the balance added
as business grows over the next
several years. The new machine will add the capacity to
produce additional product lines at the Watertown plant
that are in prototype development now.
Current Applications Inc.
Current applications $736,804 expansion project added
10,200 sq.ft. to the company’s existing 20,000 sq.ft.
facility. The additional space and new equipment improve
efficiency, expanded production capacity and allowed the
expansion of new product lines. The improved productivity
of the new equipment allowed the return of some offshore
processes back to the local plant in Watertown, New
York. Enhancing production capacity will set the stage for
continuing growth into the future.
The project was driven by the increasing sales fueling
increased demands for their products. Current Applications
has established itself as an extremely reliable custom
electric motor manufacturer.
The project will create 7 construction jobs and 6 new
permanent jobs. This project will secure 48 existing jobs
in current employment.
Current Applications requested and received $101,403
in financing towards the $693,000 using the Watertown
Economic Growth Fund.
5

JCIDA 2015-2016 Financial Summary
FISCAL YEAR ENDED SEPTEMBER 30, 2016 AND 2015
2016 2015
Assets:
Cash and cash equivalents $3,577,886 $3,196,497
Loans receivable - net of allowance 2,006,977 2,493,060
Other receivable 26,656 69,969
Other current assets 2,006 2,006
Fixed assets - net of depreciation 1,631,323 1,548,943
Total $7,24 4,8 4 8 $7,310,475
Deferred Outflows of Resources: $107,4 37 $63,333
Liabilities and Net Assets:
Current liabilities $26,723 $32,790
Long-term liabilities 25,039 26,362
Notes payable - long-term portion 180,160 180,160
Total net position 7,012,926 7,056,3 4 3
Total $7,24 4,8 4 8 $7,295,655
Deferred Inflows of Resources: $107,4 37 $78,153
Summary of Transactions:
Support and Revenue:
Fees $423,090 $543,948
Community Development Agreement 315,923 315,923
Interest 110,774 123,898
Other revenue 80,654 48,617
Total $930,441 $1,032,386
Expenses:
Program expenses $74,149 $79,521
General and administrative 119,891 103,397
Administrative Service Agreement 600,000 810,984
Bad debt expense/allowance adjustment 42,891 229,527
Depreciation 136,927 112,887
Grants expended - 180
Total $973,858 $1,336,496
Change in Net Position $(43,417) $(304,110)
Net Position:
Beginning of Year 7,056,3 4 3 7,360,453
End of Year $7,012,926 $7,056,3 4 3
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JCLDC 2015-2016 Highlights
JCLDC Mission & Vision
The Corporation was established pursuant to the LDC Act
with purposes and powers as set forth within the Certificate,
and the Corporation’s Mission includes undertaking
projects and programmatic initiatives in furtherance of and
to advance the job opportunities, health, general prosperity
and economic welfare of the people of the County. In
furtherance of the purposes and powers vested in the
Corporation pursuant to the LDC Act, the Corporation shall
undertake projects, programs and initiatives to achieve
the purposes as set forth within the LDC Act. In doing
so, the Corporation shall adhere to its adopted policies
and applicable statutory requirements, including PAAA,
PARA, OML, FOIL, and SEQRA. The Corporation’s goals
include continued compliance with current obligations
and responsibilities associated with ongoing projects
and programs, in addition to identifying new projects and
programs that will achieve the Corporations purposes
and Mission. In furtherance of these stated goals, the
Corporation will endeavor to comply with all applicable
provisions of the Act, PAAA and PARA. With these stated
goals established, the Corporations values are to maintain
the highest ethical standards applicable to public officials
and local authorities.
JCLDC Performance Measures
The Corporation shall annually review this Mission
Statement and identify whether the Corporation (i)
continues to meet its stated mission, goals and values;
(ii) can quantify measures of improvement to better meet
its stated mission, goals and values; (iii) can become more
effective and efficient; and (iv) is meeting the interests of
the Corporation, the Agency and the County In furtherance
of the foregoing Performance Measures, the Corporation
shall further undertake the following annual measures:
1) Assure that all current Corporation
Members have acknowledged that
they have read and understood the
mission of the Corporation;
2) An annual review and affirmation
of the Corporations membership,
board, committee and management
structure;
3) An annual review and affirmation
of its policies, along with Corporation
appointment of Management of the
Corporation, along with articulation
of the respective roles, goals and
expectations of each.
Values
Integrity – JCLDC deals openly,
honestly and in good faith, both
internally and externally. The JCLDC
deploys its resources in a manner that
is transparent to the public and for the
good of the community.
Economic Development – JCLDC
consistently seeks to expand the
economy of Jefferson County by
way of increasing the opportunity
for quality employment within the
community and preventing economic
deterioration.
Community – JCLDC seeks to
accomplish its goals in a manner that
contributes to improving the quality of
life for the residents of our community.
7

JCLDC 2015-2016 Highlights
Activities
Safety Training
The JCLDC partnered with the Lewis County Industrial
Development Agency and CITEC Business Solutions in
securing a grant from the NYS Department of Labor’s
Hazard Abatement Board to again offer a series of free
safety training workshops to area businesses.
The 2015-2016 series offered 17 workshops on a variety
of topics such as powered industrial tool safety, electrical
safe work practices, forming a safety committee and
more. The series included two 10-hour OSHA general industry
training sessions. Attendance totaled 294.
The local program makes it easier for local businesses
to obtain the training they need to be OSHA compliant,
avoid costly fines from unintentional OSHA violations,
and—most importantly—improve workplace safety for
their employees.
Workshops
Under the banner of Jefferson County Economic
Development, the agency periodically sponsors workshops
designed to provide information to support business
growth and development or to promote
better understanding of economic development
issues.
Workshops in 2015-2016 covered workforce training
funds, economic development 101, and recruiting former
military. There were 91 attendees in total.
Technical & Funding Assistance to Local
Business
Jefferson County
Manufacturing Council
The following individuals, through
their respective councils, provide
key input in shaping our programs
to serve manufacturing and agriculture.
Julie Pecori
Advanced Blasting Systems, Chair
George Anderson
Current Applications
John Chatterton
New York Air Brake
Tracy Gyoerkoe
Jefferson-Lewis BOCES
Greg Hart
Workforce Development Institute
Carson Lennox
Jain Irrigation
Rich O’Connor
Taylor Concrete
Rob Oram
CITEC Business Solutions
Stephen Pierce
Key Bank
JCLDC staff assisted local businesses with a variety of
regulatory/permit issues, accessing government assistance
programs, and preparing successful grant applications.
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JCLDC 2015-2016 Highlights
Drum Country Business
The Drum Country Business initiative includes the
Jefferson, Lewis, and St. Lawrence county economic
development agencies and the Development Authority
of the North Country working together through
the Fort Drum Regional Liaison Organization (FDRLO)
to promote the tri-county region’s collective assets
and its proximity to Fort Drum as a means to attract
business investment to the region. Funding from the
project partners is matched by a grant to FDRLO by
project sponsor National Grid. The initiative includes
regional advertising and direct outreach to prospective
businesses.
North Country Alliance
The NCA is a private-public alliance of businesses and
economic development organizations working together
to grow the economy of New York’s seven-county North
Country region. JCLDC is a member organization with a
seat on the NCA’s board of directors. The NCA administers
a regional revolving loan fund—often in partnership
with local revolving loan funds. NCA is also an advocate
for ensuring that the region’s economic interests are fairly
addressed at the state level.
North Country Regional Economic
Development Council
Although not members of the council, the JCED staff
participates in the Council’s work groups and are actively
involved in preparing the regional plan submission as part
of the Governor’s annual competition for economic development
funding. Staff have also assisted local businesses
and organizations in submitting successful funding
application to the program.
As part of the 2015 process, JCED
helped to organize and facilitate
one of two regional manufacturing
summits (held in Plattsburgh and
Watertown). These summits
included manufacturers from the surrounding
counties in a discussion to
identify strategies to help grow their
businesses. These summits resulted
in ideas that will guide local and
regional initiatives in the coming
year.
Marketing Council
Gary DeYoung
1000 Islands Tourism Council
Leslie DiStefano
Suny Jefferson
Kevin Richardson
Agbotic
Peter Whitmore
Jefferson County Historical Society
Kelly Reinhardt
The BC Group
Kylie Peck
Greater Watertown North County
Chamber of Commerce
Cyd Converse
The Sweetest Occasion
Cindy Lawrence
Watertown International Airport
9

Agricultural 2015-2016 Highlights
Marketing/Business Recruitment
Jefferson County Economic Development initiated the Northern
Tier Agribusiness Attraction Program in 2106. The purpose
of the program was to attract Canadian Agribusinesses
interested in establishing a U.S. presence to Jefferson County.
The Initiative was designed to utilize primarily online marketing
tools, our jeffersoncountyagriculture.com website and
banner ads, to penetrate Canadian markets. We also used television,
print and billboard advertisements. The total campaign
cost was $20,548. A proposal was sent to the National Grid
Cooperative Business Program and was funded. From June
1, 2016 to September 30, 2016 there were 1,858 session
on the www.jeffersoncountyagriculture.com website. Over
1,500 people viewed 6,722 pages on the website, viewing an
average of 3.62 pages and spending an average of one minute
16 seconds per visit. 2.69% of the sessions on the website
originated in Canada.
We are continuing to development marketing tools to attract
new agribusinesses to Jefferson County and are especially
targeting dairy
manufacturers.
2016 Drought
Our office assisted in disseminating information about the severity
of the drought and its impact on farms in northern New
York. We helped provide information to assist in the disaster
declaration for Jefferson County and brought to light problems
in data being used by the National Drought Mitigation Center
to designate drought zones for Jefferson County and northern
New York. Our office continues to work with U.S. Senator
Schumer, U.S. Senator Gillibrand, and U.S. Representative
Stefanik to examine the drought designation and how future
data for the County will be gathered and used.
Jefferson County Agriculture
Website
Formerly known as comefarmwithus.
com, we rebuilt the agricultural website
for Jefferson County making it
user friendly and giving the entire
site a new fresh look. We enhanced
the website as a marketing tool for
attracting new agribusiness. While
we maintain the old address for the
website, the new primary URL for the
site is
jeffersoncountyagriculture.com.
Assisting Existing Farms and
Agribusinesses in Jefferson
County
Our office has provided critical assistance
to many farms and agribusinesses
throughout the year. Farms
have faced a variety of issues including
zoning, local laws, and environmental
demands. We’ve helped farms
find resources to deal with the issues
they’ve faced and to take advantage
of opportunities. In some instances,
we help provide a response to public
issues that places us in front of the
public, allowing the farms to handle
the business aspects of the problem.
Our work with agribusinesses has
helped them overcome obstacles at
the State and federal government
level and we’ve sought the assistance
of our State and U.S. elected representatives
to develop answers to the
problems.
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Agricultural 2015-2016 Highlights
A Voice for Agriculture
Our office continues to serve as
a strong voice for agriculture in
Jefferson County. The Home Grown
Show, New York’s only weekly
agricultural talk show, has completed
its fourteenth year with over
650 shows about farming, local food
and important agricultural topics.
We continue to provide a monthly
agricultural column to NNY Business
Magazine, which we have done in
every issue since the magazine was
first published. Our office frequently
facilitates interviews and news
stories with our local and regional
news media, arranging many interviews
behind the scenes or providing
interviews from our staff.
Jefferson County Agricultural
Development Council
Our Jefferson County Agricultural Development Council
advises our agency on how best to achieve our mission
of assisting in the retention, growth and promotion of
Jefferson County’s agricultural industry.
Members are:
Greg Lake
Cargill Dairy Nutrition
Doug Shelmidine
Jefferson County Ag and Farmland Protection Board
Kathryn Canzonier
Farm Credit East
Martha Aschmann
Dairy Farmer
Peggy Murray
Murcrest Dairy Farms
Paul Mason
Riverhaven Dairy Farms
Ron Robbins
North Harbor Dairy Farms
Jay Canzonier
North Branch Farms
Steve Sourwine
Agribusiness
Tim Timmerman
Livestock Farmer
Nick Surdo
Jefferson County Farm Bureau
Jeremiah Maxon
Jefferson County Board of Legislators
Ed Walldroff
Jefferson County Local Development Corporation
Jim Wright
Development Authority of the North Country
Katie Malinowski
Tug Hill Commission
Kevin Jordan
Cornell Cooperative Extension of Jefferson County
11

JCLDC 2015-2016 Financial Summary
FISCAL YEAR ENDED SEPTEMBER 30, 2016 AND 2015
2016 2015
Assets:
Cash and cash equivalents $3,138,828 $2,739,369
Loans receivable - net of allowance 1,423,105 1,638,734
Other receivables 29,311 42,491
Prepaids 2,169 3,105
Fixed Assets - net of depreciation 117,609 140,696
Total $4,711,022 $4,564,395
Liabilities and Net Assets:
Current liabilities $76,178 $90,491
Total net assets 4,634,844 4,473,904
Total $4,711,022 $4,564,395
Summary of Transactions:
Support and Revenue:
Fees $600,000 $815,134
Jefferson County Support 406,000 406,006
Interest 74,110 72,660
Grant Income 115,815 49,581
Miscellaneous - 10,500
Total $1,195,925 $1,353,881
Expenses:
Program expenses $762,327 $779,714
General and administrative 272,658 283,915
Total $1,034,985 $1,063,629
Change in Net Assets $160,940 $290,252
Net Assets:
Beginning of Year 4,473,904 4,183,652
End of Year $4,634,844 $4,473,904
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JCCFDC 2015-2016 Highlights
JCCFDC Mission & Vision
JEFFERSON COUNTY CIVIC FACILITY DEVELOPMENT
CORPORATION (hereinafter called the “Corporation”) was
established as private, not-for-profit local development
corporation of the State as a supporting organization for
the County of Jefferson (the “County”) pursuant to a
Certificate of Incorporation (the “Certificate”) filed with
the Secretary of State on April 25, 2011 pursuant to and
in accordance with Section 1411 of the Not- for-Profit
Corporation Law (“N-PCL” and herein, the “LDC Act”) and
constitutes a “Local Authority” as defined by PAL Section
2 and therefore is subject to the transparency, compliance
and reporting requirements established pursuant to PARA
and the Public Authorities Accountability Act of 2005
(“PAAA”).
The Corporation was established exclusively for charitable
purposes within the meaning of Section 501(c)(3) of the
Internal Revenue Code of 1986, as amended, to relieve and
reduce unemployment, promote and provide for additional
and maximum employment, better and maintain job
opportunities, and lessen the burden of government and
act in the public interest. Pursuant to the LDC Act and
the Certificate, the Corporation is vested with powers to
accomplish these corporate purposes.
The County, acting by and through the Chair of its
Board of Legislators, serves as the sole Member of the
Corporation and the Ex officio Directors of the Corporation
are appointed from the Membership. Pursuant to and in
accordance with the LDC Act, the Corporation has adopted
By-laws governing the actions and activities of the
Directors of the Corporation, along with its officers and
employees. In accordance with the LDC Act, PAAA and
PARA, the Corporation has further adopted and complies
with the following corporate policies (collectively, the
“Corporation Policies”):
In addition, as a public benefit
corporation of the State, the
Corporation is subject to and complies
with applicable provisions of the
Public Officers Law, including the
Open Meetings Law (“OML”) and
Freedom of Information Law (“FOIL”),
along with the State Environmental
Quality Review Act (“SEQRA”).
JCCFDC Mission
The Corporation was established
pursuant to the LDC Act with purposes
and powers as set forth within the
Certificate, and the Corporation’s
Mission includes undertaking projects
and programmatic initiatives in
furtherance of and promote and
provide initiatives to advance the
job opportunities, health, general
prosperity and economic welfare
of the people of Jefferson County.
In furtherance of the purposes and
powers vested in the Corporation
pursuant to the LDC Act, the
Corporation shall undertake projects,
programs and initiatives to achieve
the purposes as set forth within the
LDC Act. In addition, and in doing
so, the Corporation shall adhere to
its adopted policies and applicable
statutory requirements, including
PAAA, PARA, OML, FOIL, and SEQRA.
The Corporation’s goals include
continued compliance with current
obligations and responsibilities
associated with ongoing projects and
13

JCCFDC 2015-2016 Highlights
programs, in addition to identifying
new projects and programs that will
achieve the Corporation’s purposes
and Mission. In furtherance of
these stated goals, the Corporation
will endeavor to comply with all
applicable provisions of the Act,
PAAA and PARA. With these stated
goals established, the Corporation’s
values are to maintain the highest
ethical standards applicable to public
officials and localauthorities.
JCCFDC Performance
Measures
The Corporation shall annually review
this Mission Statement and identify
whether the Corporation (i) continues
to meet its stated mission, goals and
values; (ii) can quantify measures of
improvement to better meet its stated
mission, goals and values; (iii) can
become more effective and efficient;
and (iv) is meeting the interests of
the Corporation. In furtherance of the
foregoing Performance Measures, the
Corporation shall further undertake
the following annual measures:
1) Assure that all current
Corporation Members have
acknowledged that they have read
and understood the mission of the
Corporation;
2) An annual review and
affirmation of the Corporation’s
membership, board, committee and
management structure;
An annual review and affirmation of its policies, along
with Corporation appointment of Management of the
Corporation, along with articulation ofthe respective roles,
goals and expectations of each.
Activities:
Bonds:
Samaritan Medical Center
Resolution 11.12.2015.01 $11,000,000
Samaritan Medical Center requested that the Issuer
consider issuing its Revenue Bonds (Samaritan Medical
Center Project) in the aggregate principal amount not to
exceed$11,000,000 (the “Series 2015 Bonds”) to finance
a project described below (the “Project”) for the benefit of
the Institution consisting of (A) the refinancing of certain
indebtedness to KeyBank National Association (the “Bridge
Loan”) incurred to finance the acquisition of an existing
47,607 square foot 3 story medical office building and the
existing improvements thereon consisting principally of an
approximately 143,600 sq. ft. parking facility consisting
of approximately 350 parking spaces, parking areas
containing in the aggregate a capacity for approximately
192 vehicles and other related improvements (the “Existing
Improvements”) situated on approximately +2.7 acres of
land located at 826 Washington Street and 128 Woodruff
Street in the City of Watertown, Jefferson County, New
York (the “Land” and,
together with the Existing Improvements, the “Project
Facility”); and (B) paying certain costs and expenses
incidental to the issuance of the Series 2015 Bonds.
The Project Facility will be owned by the Institution.
The Issuer and the Institution will enter into a financing
agreement (the “Agreement”) requiring that the Institution
make payments equal to the debt service on the Series
2015 Bonds and make certain other payments.
14

Thank You To The Following Government Officials
For Their Continued Support In Jefferson County’s 2014-15
Economic Development Efforts
Federal
Senator Charles E. Schumer
Senator Kirsten E. Gillibrand
Congresswoman Elise M. Stefanik, 21st district
New York State
Governor Andrew M. Cuomo
Senator Patricia A. Ritchie, 48th District
Assemblywoman Addie J. Russell, 118th Assembly District
Assemblyman Kenneth D. Blankenbush, 122nd Assembly District
Jefferson County Board of Legislators
Scott A. Gray, Chairman
Robert F. Hagemann III, County Administrator
Michael J. Docteur, District 1 James A. Nabywaniec, District 8
William W. Johnson, District 2 Patrick R. Jareo, District 9
Philip N. Reed, Sr., District 3 Jeremiah J. Maxon , District 10
Allen T. Drake, District 4 Robert D. Ferris, District 11
Michael Montigelli, District 5 Jennie M. Adsit, District 14
Daniel R. McBride, District 6 Anthony Doldo, District 15
John D. Peck, District 7
Watertown City Council
Joseph M. Butler Jr., Mayor
Sharon Addison, City Manager
Stephen A. Jennings, Council Member
Cody Horbacz, Council Member
Mark C. Walczyk, Council Member
Teresa R. Macaluso, Council Member
15

Jefferson County Industrial Development Agency
Jefferson County Local Development Corporation
Jefferson County Civic Facility Development Corporation