Troy Capital Resource Corporation

Chair Board Members Heidi Knoblauch Paul Carroll Tina Urzan Executive Director Susan Farrell Steven Strichman Elbert Watson BOARD OF DIRECTORS MEETING Hon. Anasha Cummings May 29, 2019 Bill Strang 10:00 a.m. Coleen Murtagh Paratore Rich Nolan Jr. Planning Department Conference Room City Hall AGENDA I. Approval of Minutes from the April 19, 2019 II. Sponsorship – Powers Park Concert Series III. Executive Director’s Report IV. Financials V. New Business VI. Old Business VII. Adjournment City Hall – 433 River Street, Suite 5001, Troy, New York 12180 Phone: 518.279.7166  April 19, 2019 10:00 AM Regular Board Meeting Present: Heidi Knoblauch, Steve Strichman, Susan Farrell, Bill Strang, Tina Urzan, and Hon. Anasha Cummings Absent: Paul Carroll and Elbert Watson Also in attendance: Justin Miller, Esq., MaryEllen Flores, Matthew DeFazio, Rocco DeFazio, D Rosemary McKenna, Katie Hammon, Melissa Bromley, Steve Pierce, Deanna Dal Pos, Luke Nathan and Dylan Turek. R The CRC meeting was called to order at 10:36 a.m. following the IDA meeting. I. Minutes T The board reviewed the minutes from the March 22, 2019 board meeting. AF Susan Farrell made a motion to approve the March 22, 2019 board meeting minutes. Tina Urzan seconded the motion, motion carried. II. Sponsorship Sub-Committee The chair spoke to the board members about the formation of a sponsorship sub- committee to help develop guidelines for future sponsorship requests. Tina Urzan made a motion to create a sub-committee in order to standardize the application process for sponsorship requests. Hon. Anasha Cummings seconded the motion, motion carried. The chair asked for board members to be on this committee; Hon. Anasha Cummings, Sue Farrell and Tina Urzan volunteered. III. CRC Sponsorships BID Playground Request - Mr. Strichman explained that the downtown has many more residential properties than it has in the past, many of them with families. The need for a playground has come up for several years and the BID has been able to move the process forward. They have received quotes to assist with the design of a playground in a portion 1  of Riverfront Park and have asked for assistance in the form of a $15,000 match. Mr. Strichman advised that this would be a great amenity to the downtown and complement our upcoming DRI application. Katie Hammon explained that this match would be used for a small scale charrette process to come up with a design. Adirondack Studios will assist with the process. She advised that they are a located about an hour away and have worked with cruise lines, theaters, etc. to design and fabricate equipment. She added that they are looking to create both a destination playground and an amenity for the families already here. Ms. Urzan advised that we did a study with RPI a few years ago. Mr. Hammon advised that we did take a look at it, but unfortunately it wasn’t within our budget to insure and build. She explained that they are looking to work with an existing structure that can be combined with landscape architecture and public art to enhance the space. Ms. Urzan noted that it will work well in the park with the water feature. Ms. Hammond explained that using a pre-approved structure solves many potential issues. Deanna Dal Pos asked how it will work with the monument square project. Ms. Hammond explained that this project will potentially be part of the DRI Grant. The chair noted that this will be a multi-phase project. Mr. Cummings noted that the biggest question at this time is where it will be located. Ms. Hammon noted that it will have to be part of the conversation. Mr. Cummings asked about the timeframe. Ms. Hammon said that the goal will be that the design will be completed in line with the future developments happening in the downtown and in time for the CFA process. Mr. Strichman wanted to have the language of the grant agreement reflect that we have a stake in the process. D Tina Urzan made a motion to approve $15,000 in funding to the Downtown BID for the charrette process to create a playground located in the downtown. R Susan Farrell seconded the motion, motion carried. Media Alliance Center of North Central – Mr. Strichman explained that the request from Media Alliance is for a sponsorship for a series of events centered T around the suffragette movement which will, at the same time, provide AF opportunities for youth employment/training. Melissa Bromley gave background on the project which combines several themes related to the community in North Central. She noted that it is an eight week program where internationally touring and local musicians will be coming to perform and youth from low income households within the community will help with the event learning valuable job skills. Mr. Pierce added that this is part of a ten year commitment that they have working with the North Central Community. This funding request of $10,000 would be a match to a grant they received towards workforce development and economic development. Mr. Turek suggested reaching out to the county tourism department to help promote the events. Hon. Anasha Cummings made a motion to approve $10,000 in funding to the Media Alliance Center for their Suffragette Series. Tina Urzan seconded the motion, motion carried. Powers Park Concert Series – This sponsorship request will be on the agenda next month. Mr. Strichman noted that the applicant for the grant has changed and we needed to collect additional paperwork from them before presenting to the board. IV. Financials 2  Ms. Flores presented the financials to the board members. She advised that there is $423,000 in assets and $423,000 in equity. For the month of March there was a loss $4,100 due to auditor fees. Tina Urzan made a motion to accept the CRC financials are presented. Susan Farrell seconded the motion, motion carried. V. Adjournment With no other items to discuss, the regular board meeting of the CRC was adjourned at 11:05 a.m. Tina Urzan made a motion to adjourn the CRC regular board meeting. Susan Farrell seconded the motion, motion carried. D R T AF 3  CITY OF TROY CAPITAL RESOURCE CORPORATION COMMUNITY AND ECONOMIC DEVELOPMENT FUNDING AGREEMENT THIS COMMUNITY AND ECONOMIC DEVELOPMENT FUNDING AGREEMENT (hereinafter, the “Agreement”) is dated as of the 10th day of August, 2018 and entered into by and between CITY OF TROY CAPITAL RESOURCE CORPORATION (herein, the “CRC”), a not-for-profit local development corporation having an address of 433 River Street, 5th Floor, Troy, New York 12180 and FRIENDS OF 112TH STREET (herein, the “Company”), a corporation having an address of PO Box 346, Troy, New York 12182. WITNESSETH: WHEREAS, pursuant to Sections 402 and 1411 of the Not-For-Profit Corporation Law (“N-PCL”) of the State of New York, the CRC was established as a domestic, not- for-profit local development corporation pursuant to a Certificate of Incorporation filed on November 20, 2009 (the “Certificate”) to undertake certain charitable and public purposes, among other things, including relieving and reducing unemployment, promoting and providing for additional and maximum employment, bettering and maintaining job opportunities, instructing or training individuals to improve or develop their capabilities for such jobs, carrying on scientific research for the purpose of aiding the City of Troy, New York (the “City”) by attracting new industry to the City or by encouraging the development of, or retention of, an industry in the City, and lessening the burdens of government and acting in the public interest; and WHEREAS, pursuant to the N-PCL and the Certificate, the CRC has established a Community and Economic Development funding program (the “CRC Program”) whereby the CRC provides funding to certain projects, programs and organizations to undertake community and economic development programs within the City; and WHEREAS, the Company has applied to CRC for grant assistance to cover operating expenses associated with conducting Powers Park Concerts over an eight week concert series (collectively, the “Project”), such Project being more particularly described within the proposal attached hereto as Exhibit A; and WHEREAS, in furtherance of the Project, CRC desires to grant to the Company in the amount of $5,000.00 (the “Grant”), the provision of such Grant being consistent with the N-PCL and the Certificate; and WHEREAS, pursuant to a CRC authorizing resolution adopted May 29, 2019, the CRC desires to provide the Company with the Grant, as further defined herein in furtherance of the Project and in accordance with the terms and conditions set forth within this Agreement.  ARTICLE I SCOPE OF WORK SCOPE OF WORK TO BE UNDERTAKEN BY THE COMPANY. In exchange for the Grant, the Company will undertake the following Scope of Work: See, Project Scope of Work attached hereto in Exhibit A. ARTICLE II GRANT FUNDING TO BE PROVIDED BY THE CRC Grant Amount; Disbursement Provisions In consideration of the Scope of Work to be undertaken by the Company as described in Section One above, the CRC hereby agrees to provide the Company with a Total of $5,000.00. The Grant will be disbursed in full by CRC upon execution of this agreement to the Company, to underwrite a portion of the cost incurred in completing the Scope of Work. The Company will recognize the Troy CRC and LDC for their support. IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first above written. CITY OF TROY CAPITAL RESOURCE CORPORATION By ______________________ Name: Heidi Knoblauch Title: Chairman FRIENDS OF 112TH STREET By_____________________ Name: Title: CEO/President  EXHIBIT A PROJECT SCOPE OF WORK The Friends of 112th Street, working with the Friends of Powers Park will host a concert series from July 6, 2019 through August 24, 2019 with the following schedule and costs.