Industrial Development Agency

Minutes of the City of Mount Vernon Industrial Development April 11, 2024 A meeting of the Board of Directors (“Board”) of the City of Mount Vernon Industrial Development Agency (“Agency”) was held on Thursday, April 11, 2024 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 Adriane Saunders (School Board Representative) Excused: Brian Johnson, Esq. Absent: None Also Present: Robin Mack, Director of Business Development Darius Chafizadeh, Esq., Harris Beach PLLC Julie Marshall, Harris Beach PLLC (via remote meeting) Shannon Mannese, CPA of RBT CPAs LLP (via remote meeting) Kathleen Bradshaw, Esq. Rev. L’Judie Matt-Simmons Brian Reardon K. Ford The meeting was called to order at 10:14 AM by Chair Patterson-Howard. A quorum of members was present. Approval of Minutes Minutes of the March 14, 2024 meeting were reviewed. Motion by S. Vanderpool, seconded by D. Morton, the minutes were approved. Audit Report Shannon Mannese presented the draft Audit Report for the year ending December 31, 2023. The IDA received a clean opinion. Cash has increased. PILOT receivables have decreased. Ms. Mannese stated that the Agency is in a better position than prior years. The PARIS Report is compiled by Harris Beach and although late, is significantly closer to completion than in prior years. Chair Patterson-Howard recognized the efforts undertaken to bring the agency current in its audit and state compliance reporting. Financial Report D. Morton reviewed the financial report including the IDA Administrative Fee income and PILOT payments. He noted that there remain a few outstanding PILOT payments and administrative fees. Business Development Report R. Mack reported on the upcoming Small Business Grants that will be available to support and attract new businesses in the downtown area as identified in the first phase of the Comprehensive Plan. Applications will be open on April 30th and end on June 16th. Eligible businesses include those with a physical storefront/space in the City. Online businesses are not eligible. Maximum funding amount per project will not exceed $25,000. Focus of the program is to decrease commercial vacancy rates. One ribbon cutting is scheduled for April 17th. Additional ribbon cutting events are anticipated in May and June. The IDA together with the Mt. Vernon Youth Bureau WDAY Program are working to enhance the cleanliness and aesthetics of the downtown shopping district. Work continues to fill the currently vacant Bed Bath and Beyond space. An announcement will be forthcoming. Resolution Resolution 4/2024-1 Authorizing Payment of Invoices Motion by D. Morton, seconded by S. Vanderpool, the resolution was unanimously adopted. Resolution 4/2024-2 Adopting 2023 Audit Report Motion by D. Morton, seconded by S. Vanderpool, the resolution was unanimously adopted. Resolution 4/2024-3 Authorizing Entering Lease Agreement with National Gear & Piston Inc. Resolution was tabled until May 2024 meeting. New Business There was no new business. Report of Agency Counsel D. Chafizadeh reported that he has been speaking with the QWest team regarding the proposed PILOT Agreement. L. Matt-Simmons and K. Bradshaw addressed the board regarding same. Chair Paterson-Howard stated that the financial feasibility for the City must be considered not just the financial feasibility for the developer. She suggested that the developer refine their PILOT proposal. QWest will meet with the City Comptroller and Assessor to discuss further. There being no further business, a motion was made by D. Morton, seconded by S. Vanderpool to adjourn the meeting. The motion was unanimously adopted at 11:39 AM. Respectfully submitted by Julie Marshall