Industrial Development Agency

Minutes of the City of Mount Vernon Industrial Development Agency August 11, 2022 A meeting of the Board of Directors (“Board”) of the City of Mount Vernon Industrial Development Agency (“Agency”) was held on Thursday, August 11, 2022 in the Mayor’s Conference Room, City Hall, 1 Roosevelt Square, Mount Vernon, New York 10550 and via video conference. Present: Hon. Shawyn Patterson-Howard Darren M. Morton, Ed.D Brian Johnson Stephanie Vanderpool Excused: None Absent: None Also Present: Michael Curti, Esq., Harris Beach PLLC Julie Marshall, Harris Beach PLLC Andrea Haynes, Director of Economic Development, City of Mt. Vernon The meeting was called to order at 10:23 AM by Chairwoman Patterson-Howard. A quorum of members was present. Minutes of the July 14, 2022 meeting were reviewed and unanimously approved. Financial Report D. Morton reviewed the financial statements for the period ending July 31, 2022. Staff is working diligently to collect rents, fees and PILOT payments on timely basis. The final 2019 Audit Report has been issued and all PARIS inputs have been completed. The PAIRS Report is now ready for certification and submittal to the State Authority Budget Office. The auditors have begun work on the 2020 and 2021 audits which are expected to be completed in October. With the completion of the audits, the PARIS Reports for the same years will be completed. D. Morton reported that additional IDA files were located in the City Comptroller’s office and will be moved to the IDA offices for digitization. Business Development Report No report Resolutions Resolution 8/2022-1 Authorizing Payment of Invoices The resolution was reviewed and unanimously adopted. Resolution 8/2022-2 Authorizing Transfer of Funds The resolution was reviewed and unanimously adopted. New Business M. Curti reviewed the proposed revisions to the Uniform Tax Exemption and Recapture Policy (‘UTEP”). The City Planning Department has issued a Request for Proposals for consultants to review proposed economic incentives in specific areas of the City. This may cause additional edits to the proposed UTEP. The UTEP will be sent to the affected taxing jurisdictions for their review and comment. M. Curti also stated that a public hearing can be held to receive public comment. S. Patterson-Howard would like to see projects receiving Low Income Tax Credits (“LITC”) required to include local supplier, labor and job training requirements. Board members discussed the UTEP and application of the policy to various projects. M. Curti stated that the document is a roadmap and the board will review each application for IDA financial assistance. Report of Agency Counsel M. Curti stated that much of his report has previously been addressed under other items. A. Haynes stated that Local Initiative Support Corporation (“LISC”) in addition to Street Sense is refreshing the Market Study of the South 4th Avenue Corridor. Representatives of both organizations will be on site August 15th. S. Patterson-Howard reported that the City will pursue HUD funding to assist with demolition, acquisition and construction of housing. Additionally, the City will apply for RESTORE-NY funding to be utilized for storefront revitalization and renovation to mixed-use buildings in the central business district. A motion was made by B. Johnson, seconded by D. Morton to adjourn the meeting. The motion was adopted by unanimous consent at 11:04 AM. Respectfully submitted by Julie Marshall