Troy Local Development Corporation

Name: Troy Local Development Corporation — Troy, NY
Start: 2012-05-15
End: 2012-05-15
Location: Troy, NY

Regular Meeting

Troy, NY · May 15, 2012

Agenda Minutes

Minutes

TROY LOCAL DEVELOPMENT CORPORATION Board of Directors Meeting Minutes May 15, 2012 9:00 a.m. PRESENT: Wallace Altes, Chair; Bill Dunne, Ken Zalewski, Donna Ned, Justin Miller, Esq. ABSENT: Andrew Ross, Andrew Torres, Ph.D. Minutes Wallace Altes called the meeting to order. Bill Dunne made the motion and Ken Zalewski seconded for Chairman Altes to proceed. I. Old Business 1. Approval of the minutes from the April 17th, 2012 Meeting. Ken Zalewski made the motion to approve. Bill Dunne seconded the motion to approve. II. New Business Discussion on Land Bank Guidelines – To be discussed at future meeting. Bollam, Sheedy, Torani & Co. LLP attended the meeting and presented the report related to the audit of the financial statements to the board for the year ending December 31, 2011. This report summarizes certain matters required by professional standards to be communicated for the oversight responsibility for the TLDC’s reporting process and intended solely for the information of the board and management. Corrected Budget 2012 Joe Mazzariello – Joe handed out to the board members the budget and financial plan. Ken Zalewski made the motion to adopt the budget as corrected. Bill Dunne seconded the motion. III. Other Business 9 First Street – A discussion was made on the 6,500 square foot building owned by TLDC which needs to be stabilized. Vice Chairman – Will be addressed at future meeting. Audit and Governance Committees – Policies were handed out at meeting and an update of policies and appointments will be held at future meetings. E-Lot Letter – A letter was sent to E-Lot and an early termination for August, 2012. Bill Dunne approved the motion with negotiated terms. Ken Zalewski seconded the motion. Fidicuary, Disclosure & Training – Chairman Altes informed the board of their responsibilities of their documents and training. When completed, email to Donna Ned. IV. Adjournment Bill Dunne made the motion to adjourn. Ken Zalewski seconded the motion to adjourn. The next TLDC Meeting will be held on Friday, June 8th at 9AM.

Agenda

TROY LOCAL DEVELOPMENT CORPORATION Board of Directors Meeting City Hall Conference Room A May 15th, 2012 9:00 a.m. AGENDA I. Old Business 1. Approval of the Minutes from the April 17th, 2012 meeting. II. New Business Discussion on Land Bank Guidelines Corrected Budget 2012 Joe Mazzariello III. Other Business 9 First Street Vice Chairman Audit & Governance Committee E-Lot Letter Fidicuary, Disclosure and Training IV. Adjournment TROY LOCAL DEVELOPMENT CORPORATION Board of Directors Meeting April 17, 2012 9:00 a.m. PRESENT: Wallace Altes, Chair; Bill Dunne, Ken Zalewski, Andrew Ross, Andrew Torres, Ph.D, Donna Ned, Justin Miller Minutes Bill Dunne called the meeting to order. Bill Dunne made the motion and Ken Zalewski seconded for Chairman Altes to Introduce the Board. Justin Miller, Attorney for Harris Beach explained all the Policies and Procedures, Foil Requests, Real Estate TLDC Owned Properties, Loans and Grants and Joe Mazzariello as CFO to the board. A summary of the King Fuels/Portec Site, Industrial Park Entrance Way, National Grid Compliance and licensing agreements, and DEC Cleanup were also noted to the board. I. Old Business 1. Minutes ungratified from the October 12th, 2011 Meeting. 2. Resolution #1 A Resolution Naming M&T Bank as Depository for the Troy Local Development Corporation. Ken Zalewski made the motion to approve. Andrew Ross seconded the motion. 3. Resolution #2 A Resolution Authorizing Signatories for Financial Accounts for the Troy Local Development Corporation. Chairman – Wallace Altes CFO/Treasurer – Joe Mazzariello Ken Zalewski made the motion to approve. Bill Dunne seconded the motion. Joe Mazzariello provided to the board the Annual 2011 Audit and the Financials for 2010-2011. The rents for TLDC owned properties were discussed and a letter and eviction for action will be going out to E-Lot Electronics Recycling, Inc. The board agreed to remediate the problem and forward the letter as soon as possible. The board also noted that they would like the Codes Department to check on their compliance and this will be followed through. The board proceeded to authorize legal counsel to begin the eviction process. Wallace Altes made the motion to approve. Andrew Ross seconded the motion. II. New Business Financial Summary Report Joe Mazzariello Ken Zalewski made the motion to adopt the budget as corrected. Bill Dunne seconded the motion. III. Other Business IV. Adjournment Wallace Altes thanked the board for serving and learning the land of the TLDC. There will be great economic development projects active and be put into place. Wallace Altes made the motion to adjourn. Bill Dunne seconded the motion to adjourn. The next TLDC Meeting will be held on Tuesday, May 15th at 9AM.

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