Troy Capital Resource Corporation

Chairman Troy Kevin O’Bryan Capital Resource Corporation Vice-Chair Steve Bouchey BOARD OF DIRECTORS MEETING Board Members March 20, 2015 10:30 a.m. Hon. Dean Bodnar Planning Department Conference Mr. Paul Carroll Room Hon. Robert Doherty City Hall Louis Anthony Lisa Kyer Tina Urzan AGENDA I. Approval of Minutes from October 10, 2014 and December 12, 2014 board meetings. II. Audit Presentation by SaxBST (Joe) III. Board vote on DRAFT audit report prepared by SaxBST IV. Financials and review of PARIS report (Joe) V. Adjournment City Hall – 433 River Street, Suite 5001, Troy, New York 12180 Phone: 518.279.7166  City of Troy Capital Resource Corporation October 10, 2014 12:00 AM Meeting Minutes Present: : Kevin O’Bryan, Bill Dunne, Lou Anthony, Paul Carroll, Tina Urzan, Mary O’Neill, Lisa Kyer and Hon. Robert Doherty Absent: Steve Bouchey and Hon. Dean Bodnar Also in attendance: Justin Miller, Ken Crowe, Sharon Martin, Chris Churchill, Tim O’Byrne, Duncan Barrett, Debra Lambek, Jenette Nicholson, Mike Yevoli, Selena Skiba and Denee Zeigler The Chairman called the CRC portion of the meeting to order at 12:00 p.m. I. Minutes The board reviewed the minutes from the September 12, 2014 meeting. Paul Carroll made a motion to approve the minutes from the September 12, 2014 CRC meeting. Lisa Kyer seconded the motion, motion carried. II. Financials Selena Skiba advised there was no change in the financials. III. Budget Bill Dunne passed out a copy of the proposed budget to the board members for review. He advised there is about $100,000 in the account and the only expenses are the audit and security cameras. Mr. Miller asked if the funds reflect the camera funds approved at the last meeting. Mrs. Skiba advised they will be moved after the agreement is signed. The Chairman asked if there were any other questions. IV. Adjournment Lou Anthony made a motion to adjourn the meeting. Paul Carroll seconded the motion, motion carried. The CRC meeting was adjourned at 12:10 p.m. 1  City of Troy Capital Resource Corporation December 12, 2014 11:00 AM Meeting Minutes Present Kevin O’Bryan, Bill Dunne, Lou Anthony, Paul Carroll, Steve Bouchey, Tina Urzan, Hon. Dean Bodnar, Mary O’Neill, and Hon. Robert Doherty Absent: Lisa Kyer Also in attendance: Justin Miller, Monica Kurzejeski, Selena Skiba and Denee Zeigler The Chairman called the CRC portion of the meeting to order at 11:00 a.m. I. Land Bank Contribution Monica Kurzejeski, Economic Development Coordinator for the City of Troy and acting agent and Executive Director for the Troy Community Land Bank, updated the board on the status of the Troy Community Land Bank. Mrs. Kurzejeski advised that the land bank was approved in July and was a successful applicant to the Attorney General’s office for $1.257 Million in funds to be used in assisting with salvage and demolition of properties as well as helping with stabilization,blight and vacancies throughout the City. Mrs. Kurzejeski advised that she is asking for the payment that was pledged to the land bank earlier this year. Mr. Bodnar asked if the amount was $50,000. Mrs. Kurzejeski advised that was the amount. Mr. Miller asked what the account balance is for the CRC. Bill Dunne mentioned it was a little over $100,000. Mr. Miller advised that a grant agreement will be set up for the $50,000. The chairman asked that the financial sheet be circulated to the board members. The chairman asked if there were any other questions from the board. Hon. Bob Doherty made a motion to approve the contribution of $50,000 to the Troy Community Land Bank. Paul Carroll seconded the motion, motion carried. II. Adjournment Steve Bouchey made a motion to adjourn the meeting. Mary O’Neill seconded the motion, motion carried. The CRC meeting was adjourned at 11:11 p.m. 1