Industrial Development Agency

Minutes of the City of Mount Vernon Industrial Development Agency November 10, 2022 A meeting of the Board of Directors (“Board”) of the City of Mount Vernon Industrial Development Agency (“Agency”) was held on Thursday, November 10, 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 Stephanie Vanderpool Excused: Brian Johnson Absent: None Also Present: Michael Curti, Esq., Harris Beach PLLC Andrea Haynes, Director of Economic Development, City of Mt. Vernon Robin Mack, Director of Business Development Community members Shez Darden and Gerard Davis The meeting was called to order at 10:10 AM by Chairwoman Patterson-Howard. A quorum of members was present. Mr. Curti noted that this meeting serves as the Annual Meeting. Audit and Finance Committee The 2019 Audit and PARIS Reports have been filed with the New York State Authority Budget Office and have been accepted by the State Comptroller’s Office. The 2020 and 2021 audits are progressing. Adjustments to schedules related to PILOT payments were required and have delayed completion. Governance Committee Mr. Curti discussed the need to annually review the Agency’s bylaws and policies. The committee reviewed the same. The policies are consistent with ABO requirements and Public Authorities requirements. A motion was made by D. Morton, seconded by S. Vanderpool to approve the bylaws and policies and recommend adoption by the Board of Directors. The motion was unanimously approved. Minutes Minutes of the September 8, 2022 meeting were reviewed and unanimously approved. Financial Report D. Morton reviewed the financial statements for the period ending October 31, 2022. He noted there is very little change month over month. Business Development Report Robin Mack introduced Doug Ramsey of Ginsberg Development Corporation and David Scotto of RM Friedland. Mr. Ramsey discussed the planned closure of the Bed Bath & Beyond retail operation located at 500 East Sandford Boulevard. The property is owned by Ginsberg Development. No specific closure date has been identified by Bed Bath & Beyond at this time however it is anticipated that the store will remain open during the holiday season. A replacement tenant is being sought for the 45,000 square foot facility. RM Friedland has been engaged to secure a new tenant for the space and preliminary marketing materials have been prepared. Chair Patterson-Howard asked bout the possibility of non-retail businesses locating at the site. The City has a significant need for hotel/conference/banquet space and would benefit from tourism and bed tax revenues. Mr. Ramsey discussed the challenges in siting hotel operations and noted that Ginsberg Development has experience with siting hotels and will consider exploring further. Resolutions Resolution 11/2022-1 Authorizing Payment of Invoices The resolution was reviewed and unanimously adopted. Resolution 11/2022-2 Adoption of Restated Policies The resolution was reviewed and unanimously adopted. Resolution 11/2022-3 Adoption Restated Bylaws and Re-appointment of Officers The resolution was reviewed and unanimously adopted. New Business None Report of Agency Counsel M. Curti stated that public hearings were held regarding changes to the Uniform Tax Exemption Policy. Two (2) comments were received from the public. Agency Counsel will review the comments and make recommendations to the board at the next meeting. Economic Development Report Andrea Haynes reported that the Westchester Community College Foundation was selected by LISC for funding related to revitalization of the South Fourth Avenue area. Chair Patterson- Howard noted that applications have been made to the Regional Economic Development Council and other funding sources to assist with downtown revitalization efforts throughout the City. A motion was made by D. Morton, seconded by S. Vanderpool to adjourn the meeting. The motion was adopted by unanimous consent at 10:55 AM. Respectfully submitted by Julie Marshall