Troy Local Development Corporation

Wallace Altes, Chairman Bill Dunne Andrew Ross, Vice Chairman Ken Zalewski Deputy Mayor Pete Ryan TROY LOCAL DEVELOPMENT CORPORATION Board of Directors Meeting Planning Department Conference Room City Hall 433 River Street, Suite 5001 Troy, New York 12180 September 13, 2013 8:30 a.m. AGENDA I. Approval of the Minutes from the June 14, 2013 and June 28, 2013 meeting. New Business II. Victorian Stroll Sponsorship III. Gramercy Communications proposal IV. The Trojan Hotel/O’Brien’s Public House V. 50/50 Façade Improvement Program applications: • RWDC Property Management, Wesley Costanzo • 569 Congress Street, Xclusive Footwear • 62 Vandenburgh Ave, Kenneth Stulmaker Old Business VI. Review of Financials VII. ABO Compliance Review VIII. 9 First Street LDA IX. Update of pre-demo survey at King Fuels site X. Marina expenses for June/July XI. Project Updates: Bomber’s and Leonard Hospital XII. Adjournment  TROY LOCAL DEVELOPMENT CORPORATION Board of Director Meeting Minutes June 14, 2013 8:45 a.m. BOARD MEMBERS PRESENT: Wallace Altes, Chair, Bill Dunne, Hon. Ken Zalewski, Andrew Ross and Dep. Mayor Pete Ryan ABSENT: ALSO IN ATTENDANCE: Justin Miller Esq., Jeff Buell, Liz Young, Tom Narducci, Selena Skiba, Andrew Beam, Eric Ferraro and Denee Zeigler Minutes The Chairman called the meeting to order at 8:45 a.m. I. The board reviewed the minutes from the May 31, 2013 board meeting. Hon. Ken Zalewski made a motion to accept the minutes. Andy Ross seconded the motion, motion carried. II. 20 King Street Bill Dunne spoke to the board about the parcel recently purchased by the LDC located in the middle of King Street. Don Boyajian currently owns the rest of the buildings up to the corner of Federal Street. Mr. Boyajian is interested in purchasing 20 King Street along with the paper alley in back of the row of buildings and the one located on the side of buildings. Mr. Dunne explained that the parcel will be sold back to him at a reasonable price in order for the LDC to get their investment back. The chairman asked the board if there were ready to make a motion for the sale of 20 King Street to Mr. Boyajian. Andy Ross made a motion to approve the sale of 20 King Street. Hon. Ken Zalewski seconded the motion, motion carried. (See attached Resolution) 1 III. Clark House, LLC Jeff Buell spoke about the project at 207 Broadway. The loan terms will be 1- 2 years. He advised the board that $150,000 has already been put into the project of their own money. The loan funds will be use for windows and stabilization. The plans for the grocery store are moving forward and intend on opening in the near future. The Chairman asked the board members if they had questions or comments. Andy Ross asked if the loan will be tied to bricks and mortar or equipment. Justin Miller advised it is a pure mortgage loan. Hon. Ken Zalewski made a motion to enter into a loan agreement. Andy Ross seconded the motion, motion carried. (See attached Resolution 06/13 - #1) IV. Marina The Chairman disclosed to the board that the he has had a consulting relationship in the past with the company Tom Narducci’s company. He asked Andy Ross, vice chairman, to chair this portion of the meeting. Deputy Pete Ryan gave some background about the resignation of the previous dock master and their need to find a replacement. He advised that the City is not equipped to run the marina. They wanted someone in that position that has experience as a dock master and be able to provide a level of customer service. Tom Narducci spoke to the board about how the partnership between Jeff Buell and himself formed. He feels that they can do an excellent job and have already found people that want to work with them. They are committed to providing great customer service. Mr. Narducci explained that they see this as a great marketing opportunity to link it to downtown Troy. The Troy City Council approved a one year lease that will carry them to the end of this season. He advised that if they do make a profit, it will be divided between their LLC, the City and the Troy BID. Mr. Narducci noted that they will keep records on all aspects of running the marina which will help the City when it sends out an RFP. Deputy Mayor Pete Ryan pointed out that it passed 8-0 after a lengthy discussion at the City Council Meeting. A portion of a past CFA grant will be used as a match towards the dock improvements. Jeff Buell stated he was not sure if they would make a profit this year, but they really wanted to create a presence there. Hon. Ken Zalewski noted that the LDC is not the City. Justin Miller discussed different options for the LDC in setting up the funds. After a general discussion it was decided that the funds could be set up for them to draw down from as needed. Jeff Buell wanted the board to know that anything purchased will go right to the City. Andy Ross asked if they were looking for an agreement today. Jeff Buell advised yes, due to the fact that the boating season has already started and starting in July could be a problem. Justin Miller asked if they had any revenue expectations or insurance in place. Jeff Buell advised that they have nothing at this point, but the funds will be used to help them get the dock up and running. Hon. Ken Zalewski asked if we would have to disperse the full amount. Eric Ferraro stated that there is good traffic coming through and 2  they are the last stop for fuel before the canals. Bill Dunne wanted to note that there has been a slow decline in the docks and marina. It used to be a nice spot to stop and dock, it’s reasonable that we participate. Andy Ross asked about competition in the area. Tom Narducci explained that there are stops in Albany, Coxsackie and Waterford. Hon. Ken Zalewski asked about operating hours. Liz Young stated that the hours for now will be seven days a week from 8-8. However, they may have to make adjustments due to people that may want to dock and stay for dinner. Currently there is about 250 ft. of dock. The number of boats we can accommodate is less than what it could be. Hon. Ken Zalewski asked if there would be at least one or two people there at all times. Justin Miller asked if the funds would cover for all workmans’ comp./insurance/payroll. Jeff Buell advised yes for both questions. The board discussed an amount suitable for the first disbursement. It was decided that $25,000 would be an amount that will cover what is needed and some extra for leeway. Andy Ross asked the board if they had any other questions or comments. Hon. Ken Zalewski made a motion to authorize a grant in the amount of $65,700 with the first disbursement being $25,000. Deputy Mayor Pete Ryan seconded the motion. Wallace Altes abstained, motion carried. The Chairman made a motion to move to executive session to discuss financial matters and the proposed acquisition, sale or lease of real property. Bill Dunne made a motion to move to executive session. Hon. Ken Zalewski seconded the motion, motion carried. The board returned from executive with no action taken. Bill Dunne made a motion to move from executive session. Dep. Mayor Pete Ryan seconded the motion, motion carried. V. Financial Report Selena Skiba went over the balance sheet with the board members, noting the repayment of the first Bomber’s Bridge Loan of $200,000 and the second Bridge Loan given to them for $50,000. Selena also spoke about the tenants at the Neitzel Building and asked how we are handling the back rent that is owed by three of the tenants. Bill Dunne asked counsel if they can take them to court. The Chairman stated it would be best to get them out of the building first and questioned if they still had belongings there. Justin Miller advised that they have been notified to vacate the building by May 31st and some by June 15th. After that point we are able to put locks on the door. Deputy Mayor Pete Ryan stated that it would be better to have some people allowed in the building rather than have it sit vacant. Bill Dunne advised the board he will speak with Monica about it. Andy Ross suggested that the three tenants left in the building that are paying their rent could possibly keep an eye on things. The Chairman gave permission to lock up the building as needed. Selena Skiba also noted that the net income for the board is -$44,000. The Chairman spoke to the board about creating some income. 3 The Chairman thanked everyone for attending. The next meeting is scheduled for July 12, 2013 at 8:30 a.m. Hon. Ken Zalewski made a motion to adjourn. Andy Ross seconded the motion, motion carried. The meeting was adjourned at 9:50 a.m. 4  TROY LOCAL DEVELOPMENT CORPORATION At a meeting of the Directors of the Troy Local Development Corporation (the “Corporation”) that was convened on Friday June 14, 2013, at 8:30 a.m. RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION (i) ACCEPTING TITLE TO 20 KING STREET IN THE CITY OF TROY NEW YORK, (ii) AUTHORIZING THE SALE OF REAL PROPERTY AND IMPROVEMENTS LOCATED AT 20 KING STREET TO KING STREET TROY PROPERTIES, LLC ALONG WITH THE EXECUTION AND DELIVERY OF ALL RELATED DOCUMENTS, AND (iii) MAKING A DETERMINATION PURSUANT TO THE STATE ENVIRONMENTAL QUALITY REVIEW ACT (“SEQRA’) WHEREAS, pursuant to Sections 402 and 1411 of the Not-For-Profit Corporation Law (“N-PCL” or the “LDC Act”) of the State of New York, the Corporation was established as a domestic, not-for-profit corporation on November 29, 1988, and thereafter reincorporated as a domestic, not-for-profit local development corporation pursuant to N-PCL Section 1411(h) pursuant to a certain Certificate of Reincorporation filed on April 5, 2010 (the “Certificate”), all for 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, in furtherance of the purposes and powers vested in the Corporation under the LDC Act and Certificate, the Corporation previously accepted a deed from the City of Troy for a certain property located at 20 King Street in the City consisting of approximately .03 acres of land (the “Land”, as further defined herein) upon which is situated a vacant asphalt parking-lot (the “Improvements”, and collectively with the Land, the “Property”); and WHEREAS, the Corporation desires to undertake the disposition of the Property (the “Disposition”) to King Street Troy Properties, LLC (the “Company”) to be incorporated in future redevelopment projects in the King Street area; and WHEREAS, the Disposition is exempt from publicly advertising for bids pursuant to PAL Section 2897(6)(c)(ii) as the fair market value is below does not exceed $15,000. In addition, the Disposition is exempt from publicly advertising for bids and obtaining fair market value pursuant to PAL Section 2897(7)(ii) as it is within the purposes of the Corporation to (i) acquire by purchase, lease, gift, bequest, devise or otherwise real or personal property or interests therein, (ii) to sell, lease, mortgage or otherwise dispose of or encumber any of its real or personal property or any interest therein upon such terms as it may determine to be suitable, and (iii) to undertake certain projects and initiatives for the benefit of and to lessen the burdens of the City; and  WHEREAS, pursuant to PAL Section 2897(6)(d)(i)(B), an explanatory statement of the circumstances of the Disposition is not required to be prepared by the Corporation as the fair market value of the Property is not in excess of one hundred thousand dollars; and WHEREAS, PAL Section 2897(7)(c), prior to the Corporation transferring the Property for less than fair market value, it must considered certain information as set forth in PAL Section 2897(7)(b) and make a determination that there is no reasonable alternative to the proposed below-market transfer that would achieve the same purpose of such transfer; and WHEREAS, the Corporation has taken into consideration the Disposition, the description of the Property to be transferred, the kind and amount of benefit to the public, the value received compared to the fair market value and its powers and purposes under Section 1411 of the N- PCL; and WHEREAS, pursuant to the New York State Environmental Quality review Act, Article 8 of the Environmental Conservation Law and the regulations adopted pursuant thereto at 6 NYCRR Part 617, as amended (collectively referred to as “SEQRA”), the Corporation has identified the Disposition as an Unlisted Action pursuant to SEQRA for which the Corporation will conduct an uncoordinated review; and WHEREAS, in furtherance of the Project, the Corporation desires to (i) accept and ratify the receipt of title to the Property from the City of Troy, (ii) authorize the Disposition to the Company, including the execution and delivery of all related documents, (ii) declare that there is no reasonable alternative to the proposed below-market transfer that would achieve the same purpose of such transfer, and (iii) adopt a Negative Declaration for SEQRA purposes. NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE TROY LOCAL DEVELOPMENT CORPORATION, AS FOLLOWS: Section 1. In furtherance of the purposes and powers vested in the Corporation under the LDC Act and Certificate, the Corporation hereby ratifies and accepts title to the Property from the City of Troy by deed dated April 12, 2013. Section 2. In furtherance of the Disposition, the Corporation has taken into consideration the provisions of PAL Sections 2897(7)(b) and (c), including (i) a description of the Land and Property, (ii) an appraisal of the Land and Property, (iii) background on the purpose of the disposition and transfer of the Land and Property to the Company in furtherance of future redevelopment projects, including the job creation and other community benefits associated with same, (iv) the value to be received from the Company in connection with the Disposition, (v) the identity of the Company as a private party participating in the Disposition, and (vi) alternate offers associated with the Property, if any. Having taken the foregoing into consideration, the Corporation hereby determines that there is no reasonable alternative to accomplishing the transfer of the Property to the Company that would achieve the purposes of facilitating the Project.  Section 3. The Corporation hereby authorizes the Disposition to the Company pursuant a Bargain and Sale Deed (the “Deed”) containing such terms and conditions as the Chairman (or Vice Chairman) and/or Executive Director and transaction counsel to the Corporation approve as to form, and the Chairman (or Vice Chairman) and/or Executive Director of the Corporation are hereby authorized, on behalf of the Corporation, to execute and deliver the Deed along with any and all documents necessary and required to deliver title to the Property to the Company, including instruments and recording forms in furtherance of same, in such form as authorized by the Chairman, Vice Chairman and/or Executive Director of the Corporation, the execution thereof by the Chairman, Vice Chairman and/or Executive Director of the Corporation to constitute conclusive evidence of such approval. Section 4. The Corporation has determined that the Disposition will not have an adverse impact on the environment in accordance with SEQRA and hereby issues a negative declaration for purposes of SEQRA. Section 5. The officers, employees and agents of the Corporation are hereby authorized and directed for and in the name and on behalf of the Corporation to do all acts and things required and to execute and deliver all such certificates, instruments and documents, to pay all such fees, charges and expenses and to do all such further acts and things as may be necessary or, in the opinion of the officer, employee or agent acting, desirable and proper to effect the purposes of the foregoing resolutions and to cause compliance by the Corporation with all of the terms, covenants and provisions of the documents executed for and on behalf of the Corporation. The foregoing authorizations shall include, but not be limited to execution and delivery by the Chairman, Vice Chairman, Executive Director, Secretary and Acting Secretary of the Corporation of banking signature cards and other instruments necessary to evidence the foregoing Section 6. This resolution shall take effect immediately. The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows: Yea Nay Absent Abstain Wallace Altes [X ] [ ] [ ] [ ] William Dunne [X ] [ ] [ ] [ ] Andy Ross [X ] [ ] [ ] [ ] Peter Ryan [X ] [ ] [ ] [ ] Hon. Kenneth Zalewski [X ] [ ] [ ] [ ] The Resolution was thereupon duly adopted.  AUTHORIZING RESOLUTION (Clark House, LLC – Loan Agreement) A regular meeting of the Troy Local Development Corporation was convened on June 14, 2013, at 8:30 a.m. The following resolution was duly offered and seconded, to wit: Resolution No. 06/13 - #1 RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION AUTHORIZING (i) THE ISSUANCE OF A $100,000 WORKING CAPITAL LOAN TO THE CLARK HOUSE, LLC WITH RESPECT TO A CERTAIN PROJECT (AS DEFINED HEREIN) AND (ii) THE EXECUTION AND DELIVERY OF A LOAN AGREEMENT AND RELATED DOCUMENTS. WHEREAS, the Troy Local Development Corporation (the “Corporation”) is a duly- established, not-for-profit local development corporation of the State pursuant to Section 1411(h) of the Not-for-Profit Corporation Law (“N-PCL”) and a Certificate of Reincorporation filed on April 5, 2010 (the “Certificate”) established for the charitable and public purposes of 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, by encouraging the development of, or retention of, an industry in the community or area, and lessening the burdens of government and acting in the public interest; and WHEREAS, CLARK HOUSE, LLC (the “Company”), has requested assistance from the Corporation with a certain project (the “Project”) consisting of the stabilization of a story brick building located at 207 Broadway, Troy, New York (the “Existing Improvements”) and the redevelopment of the first floor commercial space to include a proposed grocery and whiskey bar (the “Redevelopment”, and collectively with the Existing Improvements, the “Facility”); and WHEREAS, in furtherance of the Project, the Company has requested financing from the Corporation in the form of a $100,000.00 Working Capital Loan (the “Loan”) to assist the Company with the Project; and WHEREAS, the Corporation desires to authorize the issuance of the Loan, the terms of which have been presented at this meeting, and approve the execution and delivery of a Loan Agreement (“Agreement”), along with related documents, to memorialize the terms and conditions by which the Loan shall be extended by the Corporation, including the repayment thereof and security therefore. NOW, THEREFORE, BE IT RESOLVED BY THE DIRECTORS OF THE TROY LOCAL DEVELOPMENT CORPORATION AS FOLLOWS:  Section 1. The Corporation hereby authorizes the provision of the Loan to the Company in furtherance of the Project. The Chairman, Vice Chairman and/or the Chief Executive Officer of the Corporation are hereby authorized, on behalf of the Corporation, to execute and deliver a Loan Agreement, along with related documents (collectively, the “Loan Documents”), in such form as prepared and approved by counsel to the Corporation and as approved by the Chairman, Vice Chairman and/or the Chief Executive Officer. Section 2. The Secretary or Assistant Secretary of the Corporation are hereby authorized, where appropriate, to affix the seal of the Corporation to the Loan Documents and to attest the same, all with such changes, variations, omissions and insertions as the Chairman, Vice Chairman and/or Chief Executive Officer of the Corporation shall approve, and the execution thereof by the Chairman, Vice Chairman and/or Chief Executive Officer of the Corporation to constitute conclusive evidence of such approval. Section 3. The officers, employees and agents of the Corporation are hereby authorized and directed for and in the name and on behalf of the Corporation to do all acts and things required and to execute and deliver all such checks, certificates, instruments and documents, to pay all such fees, charges and expenses and to do all such further acts and things as may be necessary or, in the opinion of the officer, employee or agent acting, desirable and proper to effect the purposes of the foregoing resolutions and to cause compliance by the Corporation with all of the terms, covenants and provisions of the documents executed for and on behalf of the Corporation. Section 4. These Resolutions shall take effect immediately. The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows: Yea Nea Absent Abstain Wallace Altes [ X ] [ ] [ ] [ ] William Dunne [ X ] [ ] [ ] [ ] Hon. Kenneth Zalewski [ X ] [ ] [ ] [ ] Andrew Ross [ X ] [ ] [ ] [ ] Peter Ryan [ X ] [ ] [ ] [ ] The Resolution was thereupon duly adopted. A-1  TROY LOCAL DEVELOPMENT CORPORATION Board of Director Meeting Minutes June 28, 2013 8:40 a.m. BOARD MEMBERS PRESENT: Bill Dunne, Hon. Ken Zalewski, and Dep. Mayor Pete Ryan ABSENT: Wallace Altes, Andy Ross ALSO IN ATTENDANCE: Justin Miller Esq., Selena Skiba, Monica Kurzejeski, Sharon Martin, Adrienne Waugh and Denee Zeigler Minutes The board nominated Hon. Ken Zalewski as the temporary chair of the meeting in the absence of the Chairman and Vice Chair. Deputy Mayor Pete Ryan made the motion to elect Hon. Ken Zalewski temporary chair. Bill Dunne seconded the motion, motion carried. Hon. Hon. Ken Zalewski called the meeting to order at 8:40 a.m. I. The board decided to wait until the next meeting to review and approve the minutes from the June 14, 2013 meeting. Bill Dunne made a motion to table the minutes. Deputy Mayor Pete Ryan seconded the motion, motion carried. II. Agreement between TAP and LDC Bill Dunne spoke to the board about TAP’s Urban Initiative grant they received through the last round of CFA’s. TAP’s plan is to help promote the rehabilitation and sale of distressed properties in the City. After some discussions, it was decided that LDC would acquire the four properties located on Sixth Avenue and TAP would take on some of the major repairs such as roof and brick work. They are looking to invest about $114,000 into the properties and then re-sell them to buyers that will live in them and maintain them for the required five years. Mr. Dunne stated that they will promote the properties to neighborhood associations and through the vacant 1 property work group. Monica Kurzejeski asked if they also intend to market to outside realtors as well. Mr. Dunne explained that they should be able to market with the groups mentioned, but if they need to they can market to realtors. Monica Kurzejeski asked if there were any other partnerships formed to help them through the process. Bill Dunne advised that at this point TRIP is available as a resource, but they intend to work with other agencies to help them through the process. Deputy Mayor Pete Ryan asked if this agreement would need City Council approval. Bill Dunne advised not the agreement itself, but the sale of the foreclosed properties has to get City Council approval. Sharon Martin asked if there was a reason for the rush. Deputy Mayor Pete Ryan explained that there was a deadline for TAP to use the grant funds of August 1st. He also mentioned that the Mayor is aware and is willing to hold a special meeting of the City Council. Justin Miller questioned if the buildings were on the foreclosure list. Bill Dunne advised they were on the list. Monica Kurzejeski also wanted to note that there were people interested in the properties. Selena Skiba questioned the time frame of 30 days listed on the draft agreement. Justin Miller explained that when they were creating the draft he assumed it was going to be a purchase from the foreclosure list as in previous situations. He advised that this situation is slightly different, so the timeframe would have to be changed to allow time for the City Council to decide. Bill Dunne did note that the properties were on the list and paperwork was filled out to purchase them. Sharon Martin questioned the five year timeframe mentioned in the agreement. Justin Miller explained that because of TAP using grant funds, there are restrictions that are placed on the properties where it has to be owner occupied and maintained for a period of five years. Mrs. Martin questioned who would track this information. Justin Miller explained that it would be the responsibility of TAP and NYS to enforce the agreement. It would also be noted on the mortgage and recorded with the County. Selena Skiba questioned how the taxes would work. Justin Miller advised that they will try and complete the process and transfer the properties by March 1st so they are within the same tax year and don’t run into some of the same issues that they have in the past with properties that they have held onto for several years with no activity. Bill Dunne also noted that we are not purchasing the properties with the intent of making a profit or being the landlord and collecting income. Justin Miller explained that because there will not be a private tenant, they will be exempt from taxes. Once the buildings are sold, taxes can be paid on the properties. Hon. Ken Zalewski clarified the request to be $114,000. Justin Miller advised that the funds would be reimbursed by TAP and if there is any profit made on the properties it will come back to the LDC. Monica Kurzejeski pointed out to the board that we spoke on this a few months ago and it was suggested that if there is any profit or overage we could try and use it to reinvest in that area. Hon. Ken Zalewski questioned the financial position of the board that was discussed in the last meeting. Justin Miller advised that there have been a couple of closings since that time. Hon. Ken Zalewski asked if there were any other questions from the board and asked if there was a motion which would be contingent on the sale of the properties. 2  Sharon Martin asked if City Council approves the sale of the properties, when would the closing take place. Justin Miller advised as soon as possible so that work can begin. Adrienne Waugh asked if people come into the Assessors’ office to ask about these specific properties should they be referred to Mr. Dunne’s office. Bill Dunne advised yes. Monica Kurzejeski asked if there were already bids on the properties in question. Sharon Martin advised that there have been bids place on the properties. Mrs. Kurzejeski suggested working with the people that have already placed bids on the properties first. The board had a discussion on the process that would be taken at this point if the sale of the properties goes through. The Assessors office also spoke about some background of the process of bidding on properties on the foreclosure list. Deputy Mayor Pete Ryan made a motion to accept title to four properties on Sixth Ave and enter into a funding agreement with TAP. Bill Dunne seconded the motion, motion carried. (See attached Resolution) III. King Fuels Pre-Demo Bill Dunne spoke to the board about the RFP for a demo contractor to take down the remaining buildings at the King Fuel sites. Authorization is being sought to spend up to $15,000. Andrew Kreshik, senior planner for the City of Troy spoke to the board about the process taken to find a firm to test the site before demo work is done. Mr. Kreshik advised that a number of firms were asked to come in and give presentations. They looked at the cost of the testing and sampling of these items. Mr. Kreshik suggested CT Male because of their overall amounts and quality of work. He advised that $10,000 should just cover the costs. Bill Dunne suggested that we authorize up to $15,000 to spend if he feels it will be close to $10,000. Hon. Ken Zalewski clarified that this has nothing to do with the actual remediation of the site. Andrew Kreshik advised that it is a lead up to it. Hon. Ken Zalewski asked if it would be more cost effective to demolish everything. Mr. Kreshik advised that if you go that route, you have to assume that everything contains asbestos. Mr. Kreshik also advised this study will provide a good base for potential bidders/contractors when it comes time for the RFP. Bill Dunne mentioned it will provide information about value to any items on the site. Deputy Mayor Pete Ryan made a motion to authorize up to $15,000 in funds for the pre-demo survey of the King Fuels site. Bill Dunne seconded the motion, motion carried. IV. Adjournment Bill Dunne advised the board that he has spoke to a representative at Chevron about the parcels located adjacent to the King Fuels site. Andrew Kreshik also heard that Chevron was looking to discuss the properties. 3 Monica Kurzejeski advised the board she would have updates on possible candidates for the King Fuels site at the next meeting. Hon. Ken Zalewski thanked everyone for attending. The next meeting is scheduled for July 12, 2013 at 8:30 a.m. Deputy Mayor Pete Ryan made a motion to adjourn. Bill Dunne seconded the motion, motion carried. The meeting was adjourned at 9:25 a.m. 4  TROY LOCAL DEVELOPMENT CORPORATION At a meeting of the Directors of the Troy Local Development Corporation (the “Corporation”) that was convened on Friday June 28, 2013, at 8:30 a.m. RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION (i) ACCEPTING TITLE TO 3056 SIXTH AVENUE, 3058 SIXTH AVENUE, 3320 SIXTH AVENUE AND 3270 SIXTH AVENUE IN THE CITY OF TROY NEW YORK (THE “PROPERTIES”), (ii) AUTHORIZING THE EXECUTION OF A FUNDING AGREEMENT WITH TAP, INC. TO ASSIST WITH THE REHABILITATION AND STABILIZATION OF THE PROPERTIES ALONG WITH THE EXECUTION AND DELIVERY OF ALL RELATED DOCUMENTS, AND (iii) MAKING A DETERMINATION PURSUANT TO THE STATE ENVIRONMENTAL QUALITY REVIEW ACT (“SEQRA’) WHEREAS, pursuant to Sections 402 and 1411 of the Not-For-Profit Corporation Law (“N-PCL” or the “LDC Act”) of the State of New York, the Corporation was established as a domestic, not-for-profit corporation on November 29, 1988, and thereafter reincorporated as a domestic, not-for-profit local development corporation pursuant to N-PCL Section 1411(h) pursuant to a certain Certificate of Reincorporation filed on April 5, 2010 (the “Certificate”), all for 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, in furtherance of the purposes and powers vested in the Corporation under the LDC Act and Certificate, the Corporation desires to acquire certain properties from the City of Troy located at 3056 SIXTH AVENUE, 3058 SIXTH AVENUE, 3320 SIXTH AVENUE AND 3270 SIXTH AVENUE (the “Properties”) upon which are situated 4 buildings containing 10 apartments (the “Improvements”); and WHEREAS, the Corporation desires to undertake the rehabilitation and stabilization of the Properties utilizing grant funding provided through Tap, Inc. (“TAP”) pursuant to and in accordance with a certain Property Rehabilitation Agreement, a form of which is attached hereto as Exhibit A; and WHEREAS, pursuant to the New York State Environmental Quality review Act, Article 8 of the Environmental Conservation Law and the regulations adopted pursuant thereto at 6 NYCRR Part 617, as amended (collectively referred to as “SEQRA”), the Corporation has identified the acquisition of the Properties and related rehabilitation as an Unlisted Action pursuant to SEQRA for which the Corporation will conduct an uncoordinated review; and WHEREAS, in furtherance of the foregoing, the Corporation desires to (i) accept title to the Properties from the City, (ii) authorize the execution and delivery of the Property Rehabilitation Agreement with TAP, (iii) authorize the Executive Director of the Corporation to coordinate activities under the Property Rehabilitation Agreement, including the issuance of RFPs and/or bids for contractors, and (iv) adopt a Negative Declaration for SEQRA purposes. NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE TROY LOCAL DEVELOPMENT CORPORATION, AS FOLLOWS: Section 1. In furtherance of the purposes and powers vested in the Corporation under the LDC Act and Certificate, the Corporation hereby authorizes the acceptance of title to the properties from the City. The Chairman (or Vice Chairman) and/or Executive Director are hereby authorized to execute any and all documents and pay such recording fees as necessary to acquire title to the Properties. Section 2. The Chairman (or Vice Chairman) and/or Executive Director are hereby authorized to execute and deliver the Property Rehabilitation Agreement with TAP in substantially the form attached hereto, with such changes and revisions as authorized by the Chairman (or Vice Chairman) and/or Executive Director, along with counsel to the Corporation. The Corporation further authorizes the expenditure of up to $114,000.00 toward the activities outlined within the Property Rehabilitation Agreement. Section 3. The officers, employees and agents of the Corporation are hereby authorized and directed for and in the name and on behalf of the Corporation to do all acts and things required and to execute and deliver all such certificates, instruments and documents, to pay all such fees, charges and expenses and to do all such further acts and things as may be necessary or, in the opinion of the officer, employee or agent acting, desirable and proper to effect the purposes of the foregoing resolutions and to cause compliance by the Corporation with all of the terms, covenants and provisions of the documents executed for and on behalf of the Corporation. The foregoing authorizations shall include, but not be limited to execution and delivery by the Chairman, Vice Chairman, Executive Director, Secretary and Acting Secretary of the Corporation to issue RFPs and/or bids in furtherance of the rehabilitation of the Properties. Section 4. The Corporation hereby adopts a Negative Declaration for purposes of SEQRA with respect to the acquisition and rehabilitation of the Properties. Section 5. This resolution shall take effect immediately. The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows: Yea Nay Absent Abstain Wallace Altes [ ] [ ] [x] [ ] William Dunne [x] [ ] [ ] [ ] Andy Ross [ ] [ ] [x] [ ] Peter Ryan [x] [ ] [ ] [ ] Hon. Kenneth Zalewski [x] [ ] [ ] [ ] The Resolution was thereupon duly adopted. Gramercy Communications would like to thank the Troy Local Development Corporation (TLDC) for the opportunity to submit this proposal for social media and digital content management. The TLDC has a great story to tell, and we wholeheartedly believe that it can be told better. A more robust social media presence will allow the TLDC to better engage the Troy business community and motivate its constituents to become more active in their support, and ultimately attract more job creators to Troy. Social media is also a proven channel to keep constituents and local residents informed. Situation Analysis Currently, the TLDC has a “start-up” social media presence. Having recently become active on Facebook, the page has generated 88 likes to date and minimal engagement to its posts. Currently, TLDC is without accounts on Twitter, LinkedIn or YouTube, channels that should also be utilized to reach audiences and stakeholders. Gramercy Communications proposes to create and execute an active social media presence that knits together the activities and accomplishments of the TLDC and engages people to keep them informed and provide opportunities to build more business ambassadors for Troy. Strategy Build a Brand for TLDC and connect audiences to that brand The Troy Local Development Corporation is reinventing, renewing and redeveloping the community. If the TLDC is involved with a project that means, “great things are happening in Troy,” and that’s the message we want to identify the TLDC with. A key to building an active social media network is to both connect your audience: local businesses, business owners, government officials and community members, and to help them tell their stories to their constituents and peers.  Create an Active Social Media Presence Effective usage of Facebook, Twitter, YouTube and LinkedIn is an effective way to tell the story and message of the TLDC. LTDC can create conversations and connections by generating content and making frequent, relevant updates about activities and projects will increase and promote the involvement that the TLDC has with the City of Troy. Digital Storytelling Gramercy Communications can produce compelling content that will inject life into the TLDC’s successes through visual storytelling, namely through video and pictures. Video will allow us to engage members of the community to showcase their stories and successes, creating a third party endorsement for the TLDC. We can highlight projects and track their development and document successes. This is a critical component to the social media effort that will be integrated into all online marketing. Tactics Develop a campaign plan • Messaging • Social Media Channels • Build connections and networks on social media platforms • Identify third party endorsers in the community to be a voice for the TLDC on social media. Daily and weekly updates that tie activities to key messages • News and updates about exciting, upcoming projects. • Posts leading up to events, about events and post events. • Promotions and connections to other businesses and community members. • Generate unique content through digital storytelling and video production. 60-Day Kickoff Plan 30 Days • Audit of all existing marketing collateral for key messaging • Develop a comprehensive social media campaign to establish a strong presence and get the TLDC noticed online. • Research; meet with companies and community business leaders to connect with on social media. • Identify success stories and meet with local entrepreneurs to help tell the TLDC’s story through digital storytelling. 60 Days • Begin engagement on platforms: Facebook, Twitter, LinkedIn and YouTube. • Film and produce videos featuring new projects, to be posted on the YouTube channel and company website. • Film and produce testimonial pieces based on past successful projects. • Link the TLDC website with social media platforms. • Promote upcoming events and activities through regular posts. Client Examples Destiny USA. The Pyramid Companies The Carousel Center Mall in Syracuse is now Destiny USA, a $1 billion shopping and tourism complex expected to be the 2nd most visited center in the United States. The Pyramid Companies hired Gramercy Communications to raise positive awareness of the project both locally and nationally, and build anticipation in the market. Gramercy Communications helped to successfully re-position the project in the Syracuse community after a series of challenges, including national economic slowdown and litigation with financial lenders, halted activity on the project. The integrated approach composed of public relations and digital storytelling led to Destiny USA’s proper brand positioning. In addition to developing and launching social media channels like Facebook and Twitter, Gramercy Communications filmed, edited and produced hundreds of online video pieces syndicated throughout Destiny USA’s social media and online platforms. Shoppers, mall tenants and community members told the story and of Destiny USA. To date the mall’s YouTube channel has close to 400,000 views. Arsenal Business & Technology Partnership Through the efforts of Gramercy Communications, the Arsenal Business & Technology Partnership has positioned itself as the leading place for companies to locate in Tech Valley. The Watervliet Arsenal is a 200-year old U.S. Army manufacturing facility located on the 2.1 million square foot, 143- acre campus. Gramercy Communications oversees all media relations, marketing and advertising for the Arsenal Partnership. Our work included developing a public affairs strategy that resulted in visits to the site by the Secretary of the U.S. Army and congressional leaders, which ultimately resulted in the designation of 65 acres to be turned over in a long-term lease arrangement for future development. The story of the Watervliet Arsenal and the Arsenal Business & Technology Partnership needed to be told through the leaders and members of the community itself. Through its economic development efforts at the 200-year-old site, it has made a $90 million impact in the community. The partnership’s online engagement through social media, and digital storytelling has successfully shown other companies what the Partnership brings to the table. Today the Arsenal has leased 300,000 square feet of space, home to the world’s most innovative leaders in modern manufacturing. International companies like M+W Group and Cleveland Polymer Technologies recently moved their headquarters to the Watervliet Arsenal.  The Carey Center for Global Good The Carey Center for Global Good, named after businessman and philanthropist William Polk Carey in 2010. The Carey Center for Global Good is continuing its mission as a think tank, bringing visionary minds and thought leaders together on issues of global importance. Prior to being known as the Carey Center for Global Good, it was known as the Rensselaerville Institute. In an effort to help with the rebranding and promote the Carey Center for Global Good, Gramercy Communications helped to create The Carey Dialogues. These dialogues are a series of thought provoking conversations intended to engage the surrounding community and beyond on current global dialogues and issues. Gramercy Communications developed a communications strategy to help promote the series and the individual events, helping to brand the Carey Center for Global Good. Digital storytelling, a major component to this effort has allowed the Carey Center for Global Good to tell its story and reach way beyond the Capital Region. Guests like celebrated investigative journalist and author Carl Bernstein have participated in the Carey Dialogues and are helping the Carey Center reach a greater audience with tits story.  Budget At Gramercy Communications we always provide value-based budgeting. We are sensitive that our clients are doing more with less and we always think of the return-on-investment before we talk budget numbers. Monthly Retainer Our fees are straightforward; there will be no surprises. We work on a monthly retainer basis, based on the amount of hours we expect to work on the project. This includes all services in this proposal as well as 24/7 access to our team. We propose an initial 6-month retainer: $2,000 per month for 6 months  Proposal for restoring of 41-43 3rd Street, Troy NY Formerly known as The Trojan Hotel and Trojan Tap Room.  O’Briens Public House TO-DO Development, LLC PO Box 1 Troy NY 12182 Economic Development City Of Troy 433 River Street Troy NY 1218o We would like to express our excitement about our plans to redevelop the former Trojan Hotel & Trojan Tap Room, a building that has been underutilized since 2002 and thought to be a building undevelopable. Although the property has a significance history dating back to 1830, the deterioration of the building has kept developers away from the property. In purchasing the building we have begun to stabilize and rehabilitate the property. We have developed a realistic, multi-phase plan, which includes the following. The main floor will be developed into a restaurant and bar. This floor will be occupied by an already existing business, O’Briens Public House. While the original front half of the top floors will be converted into an apartment which we will occupy. The back will be phased for further development. We plan to recreate the original tap room to be an extension of O’Briens Public House. The other half of the basement will be utilized for kitchen and storage area. We are asking for a $75,000 loan to be payable in two years. We plan to use the money towards the stabilization (windows and masonary) and HVAC, plumbing and electrical on the main floor in O’Briens. We have already put in $140K into the building. If we are able to secure the loan prior to October 15, 2013 we would be able to open O’Briens between November 1 and November 15th. O’Briens has been in business since December 2011. Although the doors were closed in June of 2013, due to the owner of the building selling, they have continued catering. Their first year in business they brought in over 140K for a 900 sq foot building. They plan on tripling this amount as the space will quadruple. They have events already scheduled for the end of the year and into early next year without any advertising of the location. We welcome the support of the City, as well as any parties that are interested in helping us preserve and restore this building. Regards, Terry M O’Brien Alissandria E. O’Brien PO Box 1 Troy NY 12182 518.285.9802 Executive Summary Since 1830, this building was a home and then the Winsor Hotel in 1838 then The Trojan Hotel &Trojan Taproom in 1909 this building has played an integral role in the Downtown Troy community, and though it puttered along until 2002, attempts to redevelop the historic building have not been successful. Today the building is in complete disrepair and in need of an immediate injection of some tender, love and care. O’Briens Public House, formerly located in Lansingburgh has decided to bite off the project that so many have previously avoided. The O’Briens have purchased the Trojan hotel and are in the initial phases of a cleanup, stabilization and selected demolition. We believe this redevelopment should take place in multiple phases. The first will be the main floor, which will be returned to a restaurant and bar, and will be occupied by O’Briens Public House. The second phase will be the ballroom which will be converted into the dining room for O’Briens Public House and will also be available for private parties and functions. The third phase will include the front half of the street front building converted into an apartment which will be owner occupied. The final phase will be a transformation of the back space, formerly the hotel, into storage units. We believe we can recreate the original tap room to be an extension of the restaurant and bar. The other half of the basement will be utilized for the kitchen and storage area. The Bar Below is a walkthrough of the building in its current existence. We intend to begin work on immediately on a cleanup of the space and hope to have all approvals in place this August to begin construction on the bar and restaurant shortly thereafter. O’Briens Public House will utilize the restaurant and bar area as the next step in their evolution. The business was established in 2011 and has been a great success in Lansingburgh. Unfortunately the building was sold, but they feel as though this is a location that will allow growth to their current customer base. As you enter the door on the right hand side 43 3rd Street, you will walk up a set of stairs. The partition wall that is currently in this location will be removed along with the door on the left hand side to provide a more welcoming experience. The entrance to the bar we be located on the left hand side. The majority of people entering the bar will do so on the left hand side. Those entering the establishment for dining will proceed to the right in the rehabilitated waiting room. The Bar area will be located to the left side of the building. The dining area will be located in the rear of the building, along with a service bar. We are working with a structural engineer to correct a severe leak and structural issues that were caused do to the property not being maintained. We will support the wall between the basement, 1st and 2nd floor of the original building with steal beams, we will jack floors to level to tie the building all together. The space known as the Trojan Tap room will go through rehabilitation over the winter. We intend to use this space as a private room and open to the public on special occasions. We have attached our financials for O’Briens which was located in a 900 sq. ft. building in Lansingburgh. We intend to triple if not quadruple the business in approx. the 5,000 sq. feet we will have available. We have already scheduled some major events in the ballroom. When the restaurant is operational, we will employ 50 to 60 people. The Apartment Development of the front apartment will occur during the development of the restaurant and bar area. The apartment market in Downtown Troy is strong. The O’Briens intend to occupy the apartments, providing a true life/work experience in the building. The Storage Units Unfortunately the structural makeup and narrow nature of the back end of the hotel are not conducive to a high quality living experience. As Downtown Troy continues to grow, one of the amenities lacking for the younger population and empty nesters that populate the residential spaces is quality storage space. In the coming months we will examine the market and fit-up costs needed to transform the space into an amenity beneficial to the entire Downtown district.  Financial Estimates for 41 – 43 Third Street Acquisition: $80,000 – Paid Cash for Building Stabilization: $89,500 - Estimated Prices Masonry Work Interior and Exterior of Building: $6,000 Windows: 115 Windows $80,500 Debris Removal from Building: $3,000 Beautification: $13,000 – Estimated Prices Painting of Building: $10,000 Sign Restoration: $3,000 Apartment : $66,000 Estimated Prices Electrical: $10,000 HVAC: $12,000 Painting: $4,000 Plumbing: $14,000 Floor Repair and Restoration of Floors: $6,000 MillWork: $20,000 Rear of Building $100,000 Estimated Prices (Cleaning of floors, misc debris removal, doors, sprinklers, etc) Main Floor: $62,500 O’Briens Public House Estimated Prices – This will be broken into two phases. HVAC : $10,000 Electrical: $5,000 Plumbing: $8,000 Floor Repair: $5,000 Ceilings: $3,000 Painting: $4,500 Furniture: $25,000  MillWork: $5,000 Trojan Taproom $24,500 Estimated Prices HVAC: $5,000 Electrical: $2,500 Plumbing: $2,000 Floor Repair: $2,500 Ceilings: $1,500 Painting: $1,000 Furniture: $2,500 MillWork: $7,500 Kitchen $46,500 Estimated Prices Plumbing: $1,500 Electrical: $2,000 Paint: $1,000 Flooring: $2,000 Equipment: $40,000 (5,000 for smaller kitchen located on main floor) Total Investment: $469,000 Estimated Job Creation: Restaurant and Bar will help 60-70 employees – which in return will help with the economy of downtown Troy Construction 10-15 employees Note: This estimates are based on basic stabilization and beautification of the space. 9 First Street Troy, LLC September 4, 2013 Bill Dunne Commissioner Planning and Economic Development 433 River Street Suite 5001 Troy, NY 12180 Dear Mr. Dunne: We are in receipt of a letter dated August 5th from the City of Troy Local Development Corporation alerting 9 First Street LLC that a 90‐day period must pass prior to closing on the building located at 9 First Street. Please let this letter serve as notification that we will seek to close at the end of that 90‐day period and that we are working towards a financial closing shortly thereafter with a conventional lender. Your support in this endeavor has been unwavering and is appreciated. In an effort to keep progress moving forward at 9 First Street, we are seeking an amendment to our original agreement that would allow us to continue renovating the building inside of our LDA agreement once our stabilization is complete in several weeks. This work would include some initial framing, gypcrete on the upper floors, and rough‐ins for plumbing and electric. Please note, we have received our approvals from the City of Troy for the project, and are currently working with an architect on final design. All improvements made will first be verified by Code Enforcement via the permitting process. We thank you for your consideration of this request, and once again thank you for your continued support as we work to redevelop this wonderful asset in Downtown Troy. Sincerely, Jeffrey Buell Managing Member 9 First Street Troy, LLC Troy Downtown Marina, LLC Funding Report Through July 31, 2013 Date Payee Amount Description 7/12/2013 Paychex, Inc. 262.00 Setup fee for payroll processing 6/28/2013 Ray Energy 4,356.00 1200‐ULSD‐Dyed 15ppm 6/28/2013 Ray Energy 4,684.96 1362.7 Regular Ethanol Gasoline 7/12/2013 Kevin Dench 2,467.50 Gross payroll 06/24/13‐07/07/13 7/12/2013 Eric Ferraro 3,348.75 Gross payroll 06/24/13‐07/07/13 7/12/2013 ER Payroll Taxes 718.32 Gross payroll 06/24/13‐07/07/13 6/24/2013 William J. Fagan & Sons, Inc 844.00 Insurance 6/28/2013 Eric Ferraro 3,094.75 Gross payroll through 06/23/13 6/28/2013 Sprint 655.22 Iphone & 1mo advance billing 6/28/2013 Home Depot 123.53 Materials 6/28/2013 Passanno Paint 209.82 Paint 6/28/2013 Cash 1,000.00 Labor & materials for clean up 7/1/2013 First Rehabilitation Life 93.60 DBL Insurance 06/27/13‐06/26/14 7/2/2013 Gettysburg Flag Works, Inc. 702.12 Flags & poles 7/1/2013 Forest Financial 226.33 Insurance 7/2/2013 Home Depot 59.61 Materials 6/27/2013 Home Depot 548.72 Materials 6/23/2013 Staples 260.88 Office Supplies 7/2/2013 West Marine 769.86 Materials 6/30/2013 Pfeil Hardware, LLC 57.52 Materials 6/30/2013 Pfeil Hardware, LLC 86.25 Materials 6/27/2013 Pfeil Hardware, LLC 31.50 Materials 6/27/2013 Pfeil Hardware, LLC 118.10 Materials 6/15/2013 Pfeil Hardware, LLC 81.94 Materials 6/24/2013 Pfeil Hardware, LLC 127.26 Materials 7/2/2013 Pfeil Hardware, LLC 10.67 Materials 7/2/2013 Pfeil Hardware, LLC 69.97 Materials 7/1/2013 Pfeil Hardware, LLC 48.03 Materials 7/1/2013 Pfeil Hardware, LLC 51.69 Materials 7/17/2013 Pfeil Hardware, LLC 92.72 Materials 7/17/2013 Pfeil Hardware, LLC 16.52 Materials 7/17/2013 Pfeil Hardware, LLC 23.17 Materials 7/10/2013 Pfeil Hardware, LLC 32.63 Materials 7/11/2013 Pfeil Hardware, LLC 24.21 Materials 7/16/2013 JHS Maintenance 101.22 Plumbing Services & materials 7/26/2013 Paychex, Inc. 70.77 Payroll processing 7/26/2013 ER Payroll Taxes 640.97 Gross payroll 07/08/13‐07/21/13 7/26/2013 Kevin Dench 1,400.00 Gross payroll 06/13/13‐06/23/13 7/26/2013 Kevin Dench 1,400.00 Gross payroll 07/08/13‐07/21/13 7/26/2013 Eric Ferraro 1,880.00 Gross payroll 07/08/13‐07/21/13 7/26/2013 Mark Mills 230.00 Gross payroll 07/08/13‐07/21/13 7/26/2013 Joaquin Rice Hachey 240.00 Gross payroll 07/08/13‐07/21/13 7/26/2013 Jeff Spain 40.00 Gross payroll 07/08/13‐07/21/13 7/11/2013 Ray Energy 743.16 198.60 ULSD 7/17/2013 Ray Energy 2,220.57 593.1 Regular Ethanol 7/18/2013 Ray Energy 1,812.79 476.80 ULSD 7/22/2013 Ray Energy 3,233.36 870 Regular Ethanol 7/26/2013 Ray Energy 2,132.76 584.80 Regular Ethanol 7/26/2013 Ray Energy 145.64 40.4 ULSD 7/26/2013 Ray Energy 149.15 40.9 Regular Ethanol 7/29/2013 Ray Energy 4,774.74 1299.60 Regular Ethanol 7/14/2013 Pfeil Hardware, LLC 47.37 Materials 7/24/2013 Pfeil Hardware, LLC (13.49) Materials 7/25/2013 Pfeil Hardware, LLC 16.21 Materials 7/29/2013 Pfeil Hardware, LLC 6.61 Materials 7/29/2013 Pfeil Hardware, LLC 17.24 Materials 7/31/2013 Pfeil Hardware, LLC 57.47 Materials 7/31/2013 Pfeil Hardware, LLC 3.87 Materials 46,648.56