Troy Local Development Corporation

Andrew Ross, Vice Chairman Ken Zalewski Bill Dunne 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 May 9, 2014 8:30 a.m. AGENDA I. Approval of the Minutes from the April 11, 2014 meeting. II. 50/50 Façade Grant applications: (Monica) • Laura Cacciotti at 340 Congress Street, Tom’s Floorcovering, Inc. • Laura Cacciotti at 342 Congress Street, Tom’s Floorcovering, Inc. • Sarah Fish at 336 Congress Street, Café Congress III. HUD 108 loan update (Joe) IV. King Fuels / eLot update (Bill) V. Financials (Selena/Joe) FINANCE COMMITTEE VI. Additional Funding for Façade Grant Program (Monica) VII. Mt. Ida Façade Grant Program (Monica) VIII. Funding for Land Bank (Bill/Monica) IX. Adjournment  TROY LOCAL DEVELOPMENT CORPORATION Board of Director Meeting Minutes April 11 2014 8:30 a.m. BOARD MEMBERS PRESENT: Bill Dunne, Dep. Mayor Pete Ryan, and Hon. Ken Zalewski ABSENT: Andy Ross ALSO IN ATTENDANCE: Justin Miller Esq., Selena Skiba, Jeff Buell, Tom Narducci and Liza Rodriguez, Sharon Martin and Denee Zeigler Minutes In the absence of a Chairman, the board elected Bill Dunne as temporary Chairman of the meeting. Hon. Ken Zalewski made a motion to elect Bill Dunne as temporary Chairman for this meeting. Dep. Mayor Pete Ryan seconded the motion, motion carried. Bill Dunne called the meeting to order at 8:30 a.m. I. Approval of Minutes from March 28, 2014 board meeting Hon. Ken Zalewski made the motion to approve the minutes. Dep. Mayor Pete Ryan seconded the motion, motion carried. II. King Fuels Update Bill Dunne spoke about the demolition work that is underway at the King Fuels site. Work has begun on the buildings that do not contain asbestos. Once the weather gets better, the four remaining buildings that contain asbestos will be abated and then taken down. AECOM, National Grid’s contractor, will begin the first phase of the remediation on May 1st. Their first step is to create a temporary bridge and then they will re-route the roadway in order to abate some areas on the current roadway. Ken Zalewski asked about the bridge. Mr. Dunne explained that they did not want to have heavy truck traffic on the bridge. Mr. Dunne advised that the abatement and buildings should be down in 18 months. Mr. Dunne advised that the RFP is ready to be sent out for a consultant to help develop a business plan and market analysis for the site. Mr. Dunne asked if the board had any questions or issues before it is sent out. 1  Dep. Mayor Pete Ryan made a motion to authorize the issuance of an RFP for consultant services at the King Fuels site. Ken Zalewski seconded the motion, motion carried. III. National Grid license agreement amendment Justin Miller spoke to the board members about the license agreement they currently have with National Grid. The agreement states that they will not receive any financial assistance in connection with the remediation. They have since asked for sales tax exemption. The LDC has the power to provide the exemption. Mr. Miller advised that this also gives us a chance to correct an issue that has come up with titles and licenses of surrounding parcels. When the license was issued, it described and included rights for the King Fuels site as well as the Alamo, located on Main Street, and another parcel outside of the remediation area that Calsale currently leases. Mr. Miller advised that there is a proposed amendment that both parties have agreed upon. The work should be started to move along and should be starting May 1st. Mr. Miller explained that Andrew Kreshik has helped to keep the process moving along. Pete Ryan asked what the sales tax amount would be. Mr. Miller advised for phase 1, we can estimate about $160,000. The second phase will be more sustainable. The LDC will receive 1% of the project cost as an administrative fee. Bill Dunne noted that originally the agreement stated they could not ask for any additional benefits from the City or City agency. Mr. Dunne explained that this new request allowed them to renegotiate. Mr. Miller advised that previously agreed on the amendments, no action is required at this time. IV. 50/50 Façade Grant Application Bill Dunne noted that we have three applicants listed, but only one present. Liza Rodriguez of TAP was here to represent Dave Gardell’s project at 104 Third Street. Pete asked if the application is related to the work that is going on right now. Ms. Rodriguez advised, yes. She noted that he has put a lot of money into the interior and is ready to work on the outside. The board members agreed that the project will look great when complete. Mr. Dunne asked if there were any other questions. Dep. Mayor Pete Ryan made a motion to approve the façade grant for David Gardell for up to $5,000. Ken Zalewski seconded the motion, motion carried. The board agreed to table the remaining applicants until someone could be present to discuss the project. Ken Zalewski made a motion to table the remaining applicants. Dep. Mayor Pete Ryan seconded the motion, motion carried. V. Marina 2  Tom Narducci spoke about the Downtown Marina project and distributed a report to the board members detailing the operations from 2013. Mr. Narducci gave some background as to how he became involved in wanting to help out with the Marina. He explained that he wanted to give the City a record of day to day activities that could be used moving forward. He noted that the waterfront is critical to the downtown. Mr. Narducci gave an overview of last years successes despite getting started later in the season. There was a lot of good publicity for the Marina that helped to boost the success. He advised that they focused a lot on customer service and tried to make east visitor/boaters stop at the Marina a pleasant one. Mr. Narducci explained that getting gas service was restored was critical. They kept their prices competitive in order to draw boaters. He has been in contact with previous dock masters and mariners that were able to spread the word that they were open for business. He also made a suggestion to add seasonal slips and permanent docks to accommodate the boat traffic. Mr. Narducci noted that they were able to accommodate a stop by Paul Tonko while on the mighty waters tour. They also were able to dock the Lois McClure, which is a floating museum. Mr. Narducci wanted to stress that he wanted to leave the City with data in order to move forward. He explained that the next step will be to find someone to run the Marina for this year and maybe updating the comfort station for the boaters. Mr. Narducci expressed his gratitude to the LDC for supporting them last year, without the assistance, it would have been a real loss. Jeff Buell added that they did get a lot of requests for additional docking space on a long term basis. Mr. Narducci also noted that the striper fisherman will be coming to the area soon and many expressed interest in docking for the month. He stressed that the Marina needs to get up and running for this year. There is a lot of interest and support by the State for Troy to have a good Marina. Pete Ryan wanted top commend Tom and Jeff on the great job they did last year on getting the Marina up and running. There is a lot of other activity with the seawall and improvements along the riverfront that will be factored in. He noted that an RFP will be going out to find an operator. Mr. Narducci recommended that going forward; the same kind of data is collected in order to get accurate reporting. VI. 9 First Street Jeff Buell spoke to the board about the project at 9 First Street and asked if the board members had any questions. Justin Miller asked about the closing. Mr. Buell advised that they are in the last stages of the closing. They had a couple of issues scheduling the actual closing. He wanted to note that he has a lot invested in this project and is eager to see it completed. VII. Financials Selena Skiba handed out a financial report to the board members and went over grant funds that were received for $1,500.00. Mrs. Skiba noted that the asset section of the report is for consulting fees for Global Citizens. Mr. 3  Skiba discussed the profit and loss sheet. A general discussion took place about the security deposit for Collar Works Inc. Justin Miller asked if they have vacated the space. Bill Dunne noted that they have not been able to use the space due to an issue with the sprinkler system and they are not in their new space yet. Mr. Dunne will reach out to them and they can discuss at the next meeting. Ken Zalewski questioned the status of Pete Marks’ security deposit. Mrs. Skiba advised that there is a judgment against him. Mr. Dunne explained that his security deposit was applied to the balance he owes. Mr. Dunne asked if we have sent Hudson River Natural products a bill for their PILOT payment. Mrs. Skiba advised yes. Mr. Miller advised that they are usually sent out in February as installment payments. Hon. Ken Zalewski made a motion to enter into executive session to discuss proposed litigation. Dep. Mayor Pete Ryan seconded the motion, motion carried. Dep. Mayor Pete Ryan made a motion to adjourn executive session. Hon. Ken Zalewski seconded the motion, motion carried. The board returned from executive session with no action taken. VIII. Adjournment The board adjourned the regular board meeting at 9:40 a.m. Hon. Ken Zalewski made a motion to adjourn the regular board meeting. Dep. Mayor Pete Ryan seconded the motion, motion carried. 4  TROY LOCAL DEVELOPMENT CORPORATION Audit and Finance Committee Meeting Minutes April 11, 2014 9:40 a.m. BOARD MEMBERS PRESENT: Bill Dunne, Dep. Mayor Pete Ryan and Ken Zalewski ABSENT: Andrew Ross ALSO IN ATTENDANCE: Justin Miller Esq., Selena Skiba and Denee Zeigler Minutes T Elected temporary chair Bill Dunne called the committee meeting to order at 9:40 a.m. I. Additional Funding for Façade Grant Program II. AF Mr. Dunne noted that Economic Development Coordinator Monica Kurzejeski was not able to attend this meeting and suggested we defer the request for additional funding until she returns. The board agreed. Mt. Ida Façade Grant Program DR Mr. Dunne suggested that this item also be moved to the next meeting. The committee spoke in general about the Mt. IDA funding. Mr. Dunne advised that they are looking to get support for their program. Ken Zalewski noted that the RPI fraternity is looking to work along with the City and other agencies to offer a façade grant for their neighborhood. Mr. Dunne advised we can discuss in detail at the next meeting when we have additional information. III. Funding for Land Bank Mr. Dunne spoke to the board about potential start up funding for the land bank through the LDC or CRC. Mr. Dunne advised that Albany County put in $1 Million. Pete Ryan explained that The City of Albany also put in $500,000. Justin Miller explained that amount of funding is for operation once in business. Mr. Dunne asked if $100,000 would be enough to get the program up and running. Mr. Miller advised that would be a reasonable amount allowing for assistance writing program guidelines and grants. Mr. Zalewski advised that council has legislation pending on land banks. Mr. Dunne advised corporation council for the City is also working on it. Mr. Dunne asked if $50,000 would be a reasonable amount for this board to contribute. Mr. Zalewski asked if other groups would be contributing funds similar to Albany’s land bank. Mr. Miller advised that Albany’s is a 1  county land bank; this one will be a City land bank. Mr. Ryan advised that this is seed money to get it started and asked what would happen if the land bank does not happen. Mr. Miller explained the process of getting legislation and then getting approvals. It may take some time to go through the process. During that time, any funds that are left in the account after the grant writing process can be added in to the permanent account. Mr. Zalewski asked if there were any other stakeholders such as the City. Mr. Ryan advised that the properties will their contribution. Mr. Zalewski asked if the LDC would be administering the land bank. Mr. Miller advised that initially, the LDC will provide funding to get the land bank organized. They cannot meet until they have land bank designation. There will be a board set up to administer the program. Mr. Zalewski asked if there was any return on the funds that are put in for the start up. Mr. Dunne advised it will be a grant at this point to get the land bank started up. Mr. Miller advised there may be a way to work together to create income at some point in the future. Mr. Zalewski questioned if they should make it a loan in order to generate some money back. Mr. Miller advised that at this point there is no entity to make a loan to; this grant money would be to start the land bank. Mr. Miller advised that we may be able to get a return in other ways through buildings being purchased. That would be something to discuss further once the land bank is set up. Mr. Dunne noted there was nothing to approve at this point. This IV. T committee can present at the next regular board meeting. Sperry Warehouse cost benefit analysis V. AF Mr. Dunne spoke to the board about the cost benefit analysis that was being done for the Sperry Warehouse and Alamo swap. He advised that they are still working on it. There are some contamination issues that have occurred during one of the previous demolitions on that site. King Fuels site update DR VI. Mr. Dunne passed around photos of the ongoing demolition at the King Fuels site. The board discussed some of the issues they have been having with the weather and ice. Mr. Dunne advised they will be working as soon as it begins to thaw. Adjournment Hon. Ken Zalewski made a motion to adjourn the Audit and Finance Committee. Dep. Mayor Pete Ryan seconded the motion, motion carried. The meeting was adjourned at 9:50 a.m. 2  TROY LOCAL DEVELOPMENT CORPORATION Governance Committee Meeting Minutes April 11, 2014 9:45 a.m. BOARD MEMBERS PRESENT: Bill Dunne, Dep. Mayor Pete Ryan and Ken Zalewski ABSENT: Andrew Ross ALSO IN ATTENDANCE: Justin Miller, Esq., Selena Skiba and Denee Zeigler T Minutes Temporary elected Chairman Bill Dunne called the committee meetings to order at 9:45 a.m. I. AF Electing a new Chairman Bill Dunne spoke to the board members about electing a Chairman in the near future. There was a general discussion on the steps that are needed to authorize a new Chairman and how it is connected to the IDA board. Dep. Mayor Pete Ryan will meet with the Mayor on his appointment of a new board II. DR member. By Laws review Mr. Dunne advised the board that a copy of the by laws were included in with the agenda packet and asked that the board members review them. Mr. Zalewski noted the last change that determined how the City council appointment was made. Mr. Miller advised that has since been updated to allow any council member to be appointed to the board. Mr. Ryan asked what steps are needed to fill the vacant seat. Mr. Dunne advised that we would need to fill the vacant Chairman seat on the IDA so that a vacant seat can be filled on this board. Mr. Miller advised that this board can elect a Chairman at any time. Mr. Ryan will discuss with the Mayor. III. Adjournment Ken Zalewski made the motion to adjourn the Governance Committee. Dep. Mayor Pete Ryan seconded the motion, motion carried. Meeting was adjourned at 10:00 a.m.