Troy Local Development Corporation

Troy Local Development Corporation Board of Directors Meeting April 26, 2007 9:30 a.m. Minutes Present: Daniel Crawley, Sondra Little, Judith Breselor, James Walsh, Carolin- Collier Skiptshak, Deborah Witkowski, David Mitchell Guests: Zach Mian – IEM Corporation, Michael Cocca, Jr. – Franklin Plaza, Terry Frederick – 630 Second Avenue, Akhtar Muhammed – River Street Auto Old Business I. Approval of the minutes from the December 21st, 2006 Board Meeting Judith Breselor made the motion to approve the minutes Carolin Collier-Skiptshak seconded the motion New Business II. Review of applications for funding assistance 1. 850 River Street – IEM Corporation Requested: $10,000 50-50 Grant Approved: All in favor Zach Mian: Introduced his company and described its activities 2. 4 Fourth Street – Franklin Plaza Requested: $9,925 50-50 Grant $40,000 Main Street Grant Approved: All in favor Michael Cocca, Jr.: Spoke about Franklin Plaza and the uses of funding if awarded 3. 630 Second Avenue – Terry Frederick Requested: $125,000 EDAP Loan Disapproved: All Terry Frederick: Spoke about his plans to open a restaurant catering to boaters at 630 Second Avenue in Lansingburgh  4. 801 River Street – River Street Auto Requested: $10,000 50-50 Grant On Hold: Pending Planning & Zoning Board approvals Akhtar Muhammed: Described his plans for the repair shop and expansion to include auto dealership or towing business 5. Troy Food Coop – 77-81 Congress Street Requested: $10,000 increase to existing EDAP grant Approved: All in favor 6. George Sheehan – 1535 Fifth Avenue Requested: $10,000 50-50 Grant Tabled 7. Mohammad Arfan – 2207 Fifteenth Street Requested: $2,550 50-50 Grant $12,232 EDAP Grant Tabled III. Other business Sondra Little: Presented possible design options for incentive brochure cover IV. Meeting was adjourned