Troy Industrial Development Authority

Board Members Chair Tina Urzan Heidi Knoblauch Susan Farrell Executive Director Elbert Watson Steven Strichman Hon. Anasha Cummings Hon. Coleen Paratore Rich Nolan Jr. Anne Rounds BOARD OF DIRECTORS MEETING NOVEMBER 15, 2019 10:00 a.m. Planning Department Conference Room I. Approval of Minutes from the October 18, 2019 board meeting. II. Executive Directors Report III. Financials IV. Old Business V. New Business VI. Adjournment City Hall – 433 River Street, Suite 5001, Troy, New York 12180 Phone: 518.279.7166  October 18, 2019 10:00 AM Regular Board Meeting Minutes Present: Heidi Knoblauch, Steve Strichman, Paul Carroll, Hon. Anasha Cummings, Elbert Watson, Rich Nolan, Tina Urzan, Hon. Coleen Paratore Absent: Susan Farrell Also in attendance: Susan Proskine, Anne Rounds, Dylan Turek, Justin Nadeau, Justin Miller Esq., Mary Ellen Flores, Mike DeMasi and Denee Zeigler. D The meeting was called to order at 10:15 a.m. I. Minutes R The board reviewed the minutes from the September 20, 2019 board meeting. The board noted a correction needed for the authorizing resolutions. T Tina Urzan made a motion to approve the September 20, 2019 minutes with anticipated corrections. AF Paul Carroll seconded the motion, motion carried. II. Budget Mr. Strichman presented to the board the final version of the budget. Ms. Knoblauch asked that we add in a line item for profession development for staff. Mr. Strichman noted that he will adjust he budget to reflect $10,000. Mr. Watson asked if all board members would be able to participate in the staff development trainings. Ms. Knoblauch advised yet. Ms. Paratore asked about grants not showing under non-operating revenue. Mr. Strichman explained that we don’t get any state/federal grants. He added that we use the same format that the ABO uses in the PARIS system. Paul Carroll made a motion to approve the budget as presented. Elbert Watson seconded the motion, motion carried. III. Executive Director’s report Mr. Strichman noted that as part of professional development, Dylan Turek will be attending a conference put on by CDFA in the amount of $2,500. He advised that we are a member of this agency and provide excellent training. 1 IV. Financials Ms. Flores presented the financials to the board members; $1.1 Million in assets and $192,000 in liabilities and $876,000 in equity. No real changes, but advised that the liabilities are due to PILOTs received but in restricted cash and un-deposited funds account. She noted a surplus of $3,200 due to an administration fee and interest earnings. Paul Carroll made a motion to approve the financials as presented. Tina Urzan seconded the motion, motion carried. V. Old Business The board acknowledged that this was Paul Carroll’s last meeting. Ms. Knoblauch advised that she has to leave early and the Vice Chair will conduct the rest of the meeting. VI. New Business No new business. VII. Adjournment D With no additional business to discuss, the regular board meeting was adjourned at 10:30 a.m. R Tina Urzan made a motion to adjourn the IDA meeting at 10:30 a.m. Hon. Anasha Cummings seconded the motion, motion carried. T AF 2