Industrial Development Agency

Minutes of the City of Mount Vernon Industrial Development Agency September 14, 2023 A special meeting of the Board of Directors (“Board”) of the City of Mount Vernon Industrial Development Agency (“Agency”) was held on Thursday, September 14, 2023 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 Brian Johnson, Esq. Adriane Saunders Excused: None Absent: None Also Present: Michael Curti, Esq., Harris Beach PLLC Julie Marshall, Harris Beach PLLC (via remote meeting) Robin Mack, Director of Business Development Andrea Haynes, Director of Economic Development, City of Mt. Vernon Joseph Simone, Simone Development Companies Brian Reardon, Simone Development Companies (via remote meeting) Kathleen Bradshaw, Esq. Brian Newman, Newman Design The meeting was called to order at 10:16 AM by Chair Patterson-Howard. A quorum of members was present. Minutes Minutes of the August 17, 2023 meeting were reviewed. Motion by D. Morton, seconded by S. Vanderpool, the minutes were approved. B. Johnson abstained. The QWEST Joseph Simone addressed the concerns expressed by the board at the August Meeting. Brian Newman provided the board with revised renderings of the proposed project. Kathleen Bradshaw stated that the number of 80% AMI units were increased from 41 to 52 units. The development group is still seeking consideration from the City to provide a longer term PILOT Agreement. Ms. Bradshaw stated that the capital stack requires a certain number of low-income units. Mr. Curti stated that the next steps would be for the IDA consultant to prepare cost benefit analysis. Commissioner Vanderpool will provide an estimated assessed value for the proposed project. Chair Patterson-Howard stated that the project needs to be sustainable for both the developer and the City. The City is facing great financial challenges. The board decision will be based on the data provided in the cost benefit analysis. Comptroller Morton stated that the board’s decision will also be based on the fiscal impact on the city. Ms. Saunders asked that if the developer could entertain funding a new wing on the school building where many of the students living in the building would attend, funding a new playground and/or covering a portion of the salaries of teachers that would be hired to accommodate the new students. Mr. Simone stated that this project has been ready for some time. The developer has previously made a contribution of $350,000 to the city for its use, acquired the property and brought the real property taxes current. Expenses on the project continue to mount including financing costs, professional fees, material costs and the like. He expects that the project will lead to additional business development to meet the needs of neighborhood residents. Mr. Curti stated that the next steps are for the board to adopt a resolution to enable the applicant to work with the IDA consultant to prepare a cost benefit analysis. Financial Report Treasurer Morton reviewed the financial statements including fees and PILOT payments received to date. He stated that there are a few outstanding PILOT payments which staff is actively pursuing. All administrative fees, except one, have been paid. Again, staff is following up. Motion by D. Morton, seconded by S. Vanderpool, the financial report was unanimously approved. Business Development Report Chair Patterson-Howard stated that she met with owners of the Bed Bath and Beyond facility to discuss potential retailers for the space. The space is configured for one tenant as opposed to multiple tenants. The owners have identified a potential tenant. There is a PILOT in place which would potentially need to be extended to attract the new tenant. The prospective tenant would be a destination business and a significant draw to the City. Chair Patterson-Howard reported that the owners of the Best Buy property are pursuing a hotel on the site which would include conference and banquet facilities. Economic Development Report Ms. Haynes reported that the LISC Program is coming to a close. In conjunction with LISC, SUNY Westchester will offer 10 weeks of free classes to all Mt. Vernon businesses with topics to include tax planning and reporting, banking services, financial management and time management. Iona University will partner with the City to offer classes in Chat GPT and AI and how businesses can use. A holiday digital directory link was published in the Economic Development newsletter. Twenty-six businesses have committed to be included with a goal of one hundred businesses participating. Numerous business have been impacted by the bridge closure. She is encouraging businesses to leave reviews on Google. This will help Google Maps in their algorithm and navigating through the City. Resolutions Resolution 9/2023-1 Authorizing Payment of Invoices Motion by D. Morton, seconded by B. Johnson, the resolution was unanimously adopted. Resolution 9/2023-2 Adopting the 2024-2027 Budget Mr. Curti stated that based on the project pipeline, income for 2024 and 2025 fiscal years is anticipated to increase. Expenses during the current administration’s tenure have significantly decreased. Chair Patterson-Howard noted the 2018 and 2019 staffing levels and corresponding salaries. The Agency currently has only one staff person, that being the Business Development Director. With the Agency completing the outstanding 2019, 2020, and 2021 Audits and PARIS reports, the agency’s should realize new projects and an increased workload. She stated that the salary should be commensurate with the job activities. D. Morton stated that the structure of the Agency needs to be revisited to ensure proper staffing and pay levels. Motion by D. Morton, seconded by S. Vanderpool. The resolution was unanimously adopted. Resolution 9/2023-3 Authorizing Issuance of Request for Proposals for Audit Services Motion by D. Morton, seconded by B. Johnson. The resolution was unanimously adopted. Resolution 9/2023-4 Authorizing Adoption of Resolution of the City of Mount Vernon Industrial Development Agency Accepting the Application of QWest LLC with Respect to a Certain Project and Authorizing a Public Hearing with Respect to the Project. Motion by B. Johnson, seconded by S. Vanderpool. The resolution was unanimously adopted. There was no legal update and no new business. The next meeting of the IDA Board will be held on Thursday, October 12, 2023 at 10:00 AM. There being no further business, a motion was made by B. Johnson, seconded by S. Vanderpool to adjourn the meeting. The motion was unanimously adopted at 11:20 AM. Respectfully submitted by Julie Marshall