Troy Local Development Corporation

Regular Board Meeting Minutes December 15, 2023 9:00 a.m. BOARD MEMBERS PRESENT: Dylan Turek, Jeff Betts, Kiani Conley-Wilson, Chris Nolin and Andy Ross ABSENT: D ALSO IN ATTENDANCE: Justin Miller, Esq., Matt Jones, Deanna Dal Pos, Tara Rainstrom, Ralph Valenti, Patrick Doyle, Max Freed, Suzanne Levy and Denee Zeigler The regular board meeting was called to order at 9:15 a.m. I. Minutes R T The board reviewed the minutes from the November 17, 2023 regular board meeting. AF Motion to approve the November 17, 2023 regular board meetings minutes – Andy Ross Seconded – Dylan Turek Abstained – Kiani Conley-Wilson Motion Approved II. Executive Director’s Report End of the Year Meeting – This is the last meeting of the year and under this administration. We will have some changes in January with board members and possibly staff. Dylan wanted to thank the board members for the time and noted it was a pleasure working with all of you. A few projects that we wanted to wrap up may require a special meeting or get pushed to next year. Mr. Miller spoke about the different possibilities as far as board members term limits and appointments. Upcoming Opportunities – We have a few projects that are coming up which have the potential for some great opportunities; a Main Street Technical Assistance Grant in Lansingburgh to revitalize the business corridor and an Energy Masterplan. More information will be sent out about both in the very near future. III. New Business Acting Secretary- Mr. Turek introduced a resolution to create an annual stipend of $2,000 for the work done this year by the acting secretary. There is a lot of work 1  done ahead of time and after each meeting in addition to city responsibilities. He talked about the staffing shift that occurred and felt that this additional amount is deserved and would hope to see it as something that stays for the future for whoever ends up taking on the role. (See Resolution 12/23 #1) Motion to approve a $2,000 stipend for the position of Acting Secretary effective December 15, 2023 through November 31, 2024. – Kiani Conley- Wilson Seconded – Andy Ross Approved IV. Old Business Community Business Improvement Grant – Mr Betts noted this is our Sixth Round and we have several projects to review. 9 First Street – Tim Taney, owner of Slidin’ Dirty, is currently rebranding his business to the Twisted Fiddler. He is a great source of entertainment and food in downtown Troy. He is looking to change his restaurant to focus more on and accommodate small live music acts. The grant application is for fit up of the space, signage and repairs to the kitchen. Mr. Betts noted that the application mentions improvements to the food truck, which are not covered for this grant. Mr. Turek advised he will make D sure the reimbursements are contained to work done inside the building. (See attached Resolution 12/23 #2) Motion to approve a Community Business Investment Grant in the amount R of $11,850 for the project located at 9 First Street. – Andy Ross Seconded – Chris Nolin Approved T 729 Pawling Ave – Ralph Valenti advised the board he recently purchased the Villa Valenti property from the former owners and is looking to replace the signage and AF make repairs to the awnings. The property is not in bad shape but could use some improvements and updating. Mr. Turek noted this is close to one of the first projects we did and is happy to see projects happening in clusters. (See attached Resolution 12/23 #3) Motion to approve a Community Business Investment Grant in the amount of $30,325 for the project located at 729 Pawling Ave. – Andy Ross Seconded – Chris Nolin Approved 779 River Street – The property owner is seeking funds for the renovation of a former ambulance building. Ms. Conley-Wilson noted that there was a residential component and wanted to make sure that this was kept separate. Ms. Zeigler noted that they did submit an updated scope of work that focused on the work related to this grant. The applicant proposes to create two businesses – a plumbing business and a woodworking studio. Mr. Betts noted that he feels as if this is a great area for redevelopment but feels as if there is a lack of detail in the scope and is concerned that there may not be enough work left at the project site to show $100,000 worth of receipts. (See attached Resolution 12/23 #4) Motion to approve a Community Business Investment Grant in the amount of $50,000 for the project located at 779 River Street. – Dylan Turek Seconded – Andy Ross Opposed – Jeff Betts 2  Absent for this vote – Chris Nolin Approved with 3 votes 1700 7th Ave – The property owner is seeking funds for upgrades to the Troy Area Boys and Girls Club. After a discussion, it was decided that ARPA funds would be a better funding source for this project. Motion to table a Community Business Investment Grant in the amount of $14,000 for the project located at 425 Fifth Ave. – Andy Ross Seconded – Chris Nolin Approved 1813 5th Ave – The property owner is seeking funds to renovate her current event space, Refuge. The space is an all-inclusive event space that promotes the downtown. There is a carriage house that is an air bnb that becomes a great way to introduce people to Troy. Ms. Rainstrom started out looking to repair the façade, but the project expanded to include reconfiguring the interior space. Her plan is to create a more intergenerational space with events that everyone will feel included. She has been working with the historical society to bring the façade back to its original design. Ms. Conley-Wilson noted that she has been to and held events at Refuge and the space is a very welcoming environment for people of all ages. Mr. Turek noted the mural that is going in sounds great. Ms. Rainstrom added that the mural was on her D list of things she would love to eventually have in space, this grant helped her to include it in the project. Mr. Turek explained that the description of the project Mr. Nolin suggested updating the language to clarify the separation of the bride quarters. (See attached Resolution 12/23 #5) R Motion to table a Community Business Investment Grant in the amount of $33,659 for the project located at 1813 Fifth Ave. – Kiani Conley-Wilson Seconded – Andy Ross Approved T AF 908 River Street – The property owner is seeking funds for renovations and upgrades to the space. The applicant was not present, but the board noted their current success of turning that location into a successful Mediterranean restaurant. Mr. Turek noted that they have improved all three storefronts at this location and want to continue the improvements with this grant. (See attached Resolution 12/23 #6) Motion to table a Community Business Investment Grant in the amount of $50,000 for the project located at 908 River Street. – Andy Ross Seconded – Kiani Conley-Wilson Approved V. Financials Mr. Jones went over the statement of financial position noting that as of November 30, 2023 our total assets stand at $3,904,659. He advised $243,274 in cash with $1,728,821 in liabilities, leaving a fund balance of $2,175,837. No significant changes to the statement of financial position. Mr. Jones went over the statement of activity for the month of November, noting a deficit of $2,020. The most significant source of revenue was from the monthly national grid fee and the largest expense comes from legal fees. Motion to approve the financials as presented – Andy Ross 3  Seconded – Chris Nolin Approved VI. Adjournment With no other items to discuss, the regular board meeting was adjourned at 9:48 a.m. Motion to adjourn the regular board meeting at 9:48 a.m. – Dylan Turek Seconded – Chris Nolin Approved D R T AF 4  AUTHORIZING RESOLUTION (Appointment of Consultant – Acting Secretary) A regular meeting of the Troy Local Development Corporation was convened on December 15, 2023 at 9:00 a.m. The following resolution was duly offered and seconded, to wit: Resolution No. 12/23 #1 RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION APPOINTING A CONSULTANT TO SERVE IN THE POSITION OF ACTING SECRETARY 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 D 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 R retention of, an industry in the community or area, and lessening the burdens of government and acting in the public interest; and WHEREAS, the Corporation utilizes the services of certain staff members of the City of T Troy (the “City”) to undertake Corporation programs and initiatives; and AF WHEREAS, the Corporation desires to appoint Denee Zeigler (herein, the “Consultant”), to serve in the position of Acting Secretary of TLDC; and NOW, THEREFORE, BE IT RESOLVED BY THE DIRECTORS OF THE TROY LOCAL DEVELOPMENT CORPORATION AS FOLLOWS: Section 1. The Corporation hereby appoints the consultant to the position of Acting Secretary of TLDC effective December 15, 2023 and, unless extended upon mutual consent, terminate on November 31, 2024, as may be extended by the TLDC Board. During the term of this agreement, payment of two thousand dollars ($2,000.00) per year will be made to the consultant upon receipt of a completed standard invoice and summary statement of the work performed for that year. It is anticipated and herein acknowledged that the actual workload will vary from one year to another. It is herein further acknowledged that said annual payment is all- inclusive and is not an employment agreement with concomitant entitlement to certain fringe benefits and/or other remuneration. Section 2. As the appointed Acting Secretary of TLDC, the Consultant shall be eligible for and receive coverage under TLDC’s directors and officer’s liability policy.  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 D Jeffrey Betts Andrew Ross Chris Nolin Kiani Conley-Wilson [ [ [ [ X X X X ] ] ] ] [ [ [ [ ] ] ] ] [ [ [ [ ] ] ] ] [ [ [ [ ] ] ] ] Dylan Turek R [ X ] [ The Resolution was thereupon duly adopted. ] [ ] [ ] T AF 2 Exhibit A – Scope of Services Together and in addition to the duties of Acting Secretary as set forth within the TLDC By-laws, the Consultant shall undertake the following tasks, with oversight and input from the TLDC Chairman, Vice Chair, and Executive Director: • Attend all TLDC Board meetings, take detailed notes of the meetings, prepares and distributes minutes for review 7 days prior to the monthly meeting • Attend Agenda /Planning meetings and prepare meeting agenda and materials for distribution (electronically), prepare Board member packets for each monthly meeting and send monthly public notice to newspaper. • Send out correspondence for TLDC; receives and distributes mail and other correspondence, handles phone inquiries and forwards as appropriate • Annually request and assemble project information from all TLDC beneficiaries. • • D Prepare welcome binder for all new TLDC members Prepare payment vouchers on a timely basis for all submitted invoices • R Assist Executive Director with duties to comply with FOIL Requests • T Maintain training and attendance records for each Board member AF • Maintenance of the TLDC website; posting information to the website in a timely manner. • Provide assistance to Board members and staff as needed • Maintenance of TLDC file room – maintains physical documents and arranges for documents to be scanned for electronic back up • Ensures that all TLDC documents are saved on the City Hall server and are categorized for easy retrieval 4  T AF R D Summary of Duties and Frequency: Activities Interval Minutes monthly Agendas monthly Newspaper Notification monthly Mail Distribution as received Website Posting and Updating continuously Records Management continuously Correspondence as needed Annual PILOT request and follow up annually & as needed FOIL distribution and follow up As received Vouchers monthly and as needed Meeting Packets - Preparation monthly Phone Inquiries as received D Misc Tasks as requested R T AF 5  AUTHORIZING RESOLUTION (Community Business Investment Grant - Funding Round 6) A regular meeting of the Troy Local Development Corporation was convened on December 15, 2023, at 9:00 a.m. The following resolution was duly offered and seconded, to wit: Resolution No. 12/23 #2 RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION AUTHORIZING THE AWARD OF A SMALL BUSINESS GRANT TO TIMOTHY TANEY, OWNER OF SLIDING DIRTY LOCATED AT 9 1st STREET, TROY NY 12180 RECOMMENDED BY THE APPOINTED SELECTION COMMITTEE. 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) D 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 R 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 T WHEREAS, the City of Troy (the “City”), having received funding from the Federal AF Government as part of the American Rescue Plan Act (“ARPA”), allocated one million dollars ($1,000,000) to the Corporation for the distribution and administration of small business grants to support community businesses that make capital investments into eligible projects that improve the surrounding community (the “Project”); and, WHEREAS, as a supporting organization of the City of Troy, the Corporation has entered into an agreement with the City to provide those services that are essential for the furtherance of the Project; and WHEREAS, the Project Selection Committee, having reviewed and scored all completed applications as required per the agreement between the City and Corporation, has provided a recommendation for funding for Tim Taney’s project located at 9 1st Street, identified in the included Award Recommendation Letter, of whom the Corporation desires approve for the scope of work and funding amounts specified in their applications and not to exceed the lesser of fifty percent (50%) the total project cost or a total reimbursement of $50,000 in furtherance of the goals of the Program as described in the Agreement and is aligned with the stated mission of the Corporation; and WHEREAS, it is contemplated that the Corporation will authorize the Executive Director and Corporation Counsel to issue funding contracts by and between the recommended applicant and the Corporation for a total disbursement not to exceed eleven thousand eight hundred fifty dollars ($11,850), to be dispersed as reimbursement for eligible capital costs incurred by the grant awardee per the terms and conditions included in the final award contract (“the Contract”); and NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE TROY LOCAL DEVELOPMENT CORPORATION AS FOLLOWS: Section 1. The Corporation finds and determines that: (A) The Corporation has been vested with all powers necessary and convenient to carry out and effectuate the purposes and provisions of the N-PCL and to exercise all powers granted to it under the Act; and (B) The Corporation has the authority to take the actions contemplated herein under the Act; and Section 2. The Corporation hereby authorizes the expenditure of up to $11,850 in furtherance of Project and the engagement the Awardees for the disbursement of small business grants following receipt of the same from the City and upon final completion and inspection of D the scope of work defined in the funding Contracts between the awardees and the Corporation. The Chairman, Vice Chairman, and/or Executive Director/Chief Executive Officer of the Corporation are hereby authorized, on behalf of the Authority, to execute and deliver the Funding Agreement with the applicants specified in the attached as Exhibit A, along with other related documents. Section 3. R 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 T things required and to execute and deliver all such certificates, instruments and documents, to AF request, receive, and pay all such awards, 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 Authority. Section 4. These Resolutions shall take effect immediately. Yea Nay Absent Abstain Jeff Betts [ x ] [ ] [ ] [ ] Hon. Christopher Nolin [ x ] [ ] [ ] [ ] Hon. Kiani Conley-Wilson [ x ] [ ] [ ] [ ] Andrew Ross [ x ] [ ] [ ] [ ] Dylan Turek [ x ] [ ] [ ] [ ] The Resolution was thereupon duly adopted. 2  EXHIBIT A D R T AF 3  T AF R 4 D  EXHIBIT B D R T AF 5  T AF R D  AUTHORIZING RESOLUTION (Community Business Investment Grant - Funding Round 6) A regular meeting of the Troy Local Development Corporation was convened on December 15, 2023, at 9:00 a.m. The following resolution was duly offered and seconded, to wit: Resolution No. 12/23 #3 RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION AUTHORIZING THE AWARD OF A SMALL BUSINESS GRANT TO RALPH VALENTI, OWNER OF VALENTI’S RESTAURANT LOCATED AT 729 PAWLING AVE, TROY NY 12180 RECOMMENDED BY THE APPOINTED SELECTION COMMITTEE. 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 D 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 R retention of, an industry in the community or area, and lessening the burdens of government and acting in the public interest; and WHEREAS, the City of Troy (the “City”), having received funding from the Federal T Government as part of the American Rescue Plan Act (“ARPA”), allocated one million dollars AF ($1,000,000) to the Corporation for the distribution and administration of small business grants to support community businesses that make capital investments into eligible projects that improve the surrounding community (the “Project”); and, WHEREAS, as a supporting organization of the City of Troy, the Corporation has entered into an agreement with the City to provide those services that are essential for the furtherance of the Project; and WHEREAS, the Project Selection Committee, having reviewed and scored all completed applications as required per the agreement between the City and Corporation, has provided a recommendation for funding for Ralph Valenti’s project located at 729 Pawling Avenue, identified in the included Award Recommendation Letter, of whom the Corporation desires approve for the scope of work and funding amounts specified in their applications and not to exceed the lesser of fifty percent (50%) the total project cost or a total reimbursement of $50,000 in furtherance of the goals of the Program as described in the Agreement and is aligned with the stated mission of the Corporation; and WHEREAS, it is contemplated that the Corporation will authorize the Executive Director and Corporation Counsel to issue funding contracts by and between the recommended applicant and the Corporation for a total disbursement not to exceed thirty thousand three hundred twenty five dollars ($30,325), to be dispersed as reimbursement for eligible capital costs incurred by the grant awardee per the terms and conditions included in the final award contract (“the Contract”); and NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE TROY LOCAL DEVELOPMENT CORPORATION AS FOLLOWS: Section 1. The Corporation finds and determines that: (A) The Corporation has been vested with all powers necessary and convenient to carry out and effectuate the purposes and provisions of the N-PCL and to exercise all powers granted to it under the Act; and (B) The Corporation has the authority to take the actions contemplated herein under the Act; and Section 2. The Corporation hereby authorizes the expenditure of up to $30,325 in furtherance of Project and the engagement the Awardees for the disbursement of small business grants following receipt of the same from the City and upon final completion and inspection of the scope of work defined in the funding Contracts between the awardees and the Corporation. D The Chairman, Vice Chairman, and/or Executive Director/Chief Executive Officer of the Corporation are hereby authorized, on behalf of the Authority, to execute and deliver the Funding Agreement with the applicants specified in the attached as Exhibit A, along with other related documents. Section 3. R 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 T request, receive, and pay all such awards, charges and expenses and to do all such further acts AF 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 Authority. Section 4. These Resolutions shall take effect immediately. Yea Nay Absent Abstain Jeff Betts [ X ] [ ] [ ] [ ] Hon. Christopher Nolin [ X ] [ ] [ ] [ ] Hon. Kiani Conley-Wilson [ X ] [ ] [ ] [ ] Andrew Ross [ X ] [ ] [ ] [ ] Dylan Turek [ X ] [ ] [ ] [ ] The Resolution was thereupon duly adopted. 2  EXHIBIT A D R T AF 3  T AF R 4 D  EXHIBIT B D R T AF 5  T AF R D  AUTHORIZING RESOLUTION (Community Business Investment Grant - Funding Round 6) A regular meeting of the Troy Local Development Corporation was convened on December 15, 2023, at 9:00 a.m. The following resolution was duly offered and seconded, to wit: Resolution No. 12/23 #4 RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION AUTHORIZING THE AWARD OF A SMALL BUSINESS GRANT TO KLEA GENERAL CONTRACTING LOCATED AT 779 RIVER STREET, TROY NY 12180 RECOMMENDED BY THE APPOINTED SELECTION COMMITTEE. 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 D 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 R retention of, an industry in the community or area, and lessening the burdens of government and acting in the public interest; and WHEREAS, the City of Troy (the “City”), having received funding from the Federal T Government as part of the American Rescue Plan Act (“ARPA”), allocated one million dollars AF ($1,000,000) to the Corporation for the distribution and administration of small business grants to support community businesses that make capital investments into eligible projects that improve the surrounding community (the “Project”); and, WHEREAS, as a supporting organization of the City of Troy, the Corporation has entered into an agreement with the City to provide those services that are essential for the furtherance of the Project; and WHEREAS, the Project Selection Committee, having reviewed and scored all completed applications as required per the agreement between the City and Corporation, has provided a recommendation for funding for Klea General Contracting’s project located at 779 River Street, identified in the included Award Recommendation Letter, of whom the Corporation desires approve for the scope of work and funding amounts specified in their applications and not to exceed the lesser of fifty percent (50%) the total project cost or a total reimbursement of $50,000 in furtherance of the goals of the Program as described in the Agreement and is aligned with the stated mission of the Corporation; and WHEREAS, it is contemplated that the Corporation will authorize the Executive Director and Corporation Counsel to issue funding contracts by and between the recommended applicant and the Corporation for a total disbursement not to exceed fifty thousand dollars ($50,000), to be dispersed as reimbursement for eligible capital costs incurred by the grant awardee per the terms and conditions included in the final award contract (“the Contract”); and NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE TROY LOCAL DEVELOPMENT CORPORATION AS FOLLOWS: Section 1. The Corporation finds and determines that: (A) The Corporation has been vested with all powers necessary and convenient to carry out and effectuate the purposes and provisions of the N-PCL and to exercise all powers granted to it under the Act; and (B) The Corporation has the authority to take the actions contemplated herein under the Act; and Section 2. The Corporation hereby authorizes the expenditure of up to $50,000 in furtherance of Project and the engagement the Awardees for the disbursement of small business grants following receipt of the same from the City and upon final completion and inspection of the scope of work defined in the funding Contracts between the awardees and the Corporation. D The Chairman, Vice Chairman, and/or Executive Director/Chief Executive Officer of the Corporation are hereby authorized, on behalf of the Authority, to execute and deliver the Funding Agreement with the applicants specified in the attached as Exhibit A, along with other related documents. Section 3. R 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 T request, receive, and pay all such awards, charges and expenses and to do all such further acts AF 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 Authority. Section 4. These Resolutions shall take effect immediately. Yea Nay Absent Abstain Jeff Betts [ X ] [ ] [ ] [ ] Hon. Christopher Nolin [ X ] [ ] [ ] [ ] Hon. Kiani Conley-Wilson [ X ] [ ] [ ] [ ] Andrew Ross [ X ] [ ] [ ] [ ] Dylan Turek [ X ] [ ] [ ] [ ] The Resolution was thereupon duly adopted. 2  EXHIBIT A D R T AF 3  T AF R 4 D  EXHIBIT B D R T AF 5  T AF R D  AUTHORIZING RESOLUTION (Community Business Investment Grant - Funding Round 6) A regular meeting of the Troy Local Development Corporation was convened on December 15, 2023, at 9:00 a.m. The following resolution was duly offered and seconded, to wit: Resolution No. 12/23 #5 RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION AUTHORIZING THE AWARD OF A SMALL BUSINESS GRANT TO KLEA TARA RAINSTROM OWNER OF REFUGE LOCATED AT 1813 FIFTH AVENUE, TROY NY 12180 RECOMMENDED BY THE APPOINTED SELECTION COMMITTEE. 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) D 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 R 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 T WHEREAS, the City of Troy (the “City”), having received funding from the Federal AF Government as part of the American Rescue Plan Act (“ARPA”), allocated one million dollars ($1,000,000) to the Corporation for the distribution and administration of small business grants to support community businesses that make capital investments into eligible projects that improve the surrounding community (the “Project”); and, WHEREAS, as a supporting organization of the City of Troy, the Corporation has entered into an agreement with the City to provide those services that are essential for the furtherance of the Project; and WHEREAS, the Project Selection Committee, having reviewed and scored all completed applications as required per the agreement between the City and Corporation, has provided a recommendation for funding for Tara Rainstroms’s project located at 1813 5th Avenue, identified in the included Award Recommendation Letter, of whom the Corporation desires approve for the scope of work and funding amounts specified in their applications and not to exceed the lesser of fifty percent (50%) the total project cost or a total reimbursement of $50,000 in furtherance of the goals of the Program as described in the Agreement and is aligned with the stated mission of the Corporation; and WHEREAS, it is contemplated that the Corporation will authorize the Executive Director and Corporation Counsel to issue funding contracts by and between the recommended applicant and the Corporation for a total disbursement not to exceed thirty three thousand six hundred fifty nine dollars ($33,659), to be dispersed as reimbursement for eligible capital costs incurred by the grant awardee per the terms and conditions included in the final award contract (“the Contract”); and NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE TROY LOCAL DEVELOPMENT CORPORATION AS FOLLOWS: Section 1. The Corporation finds and determines that: (A) The Corporation has been vested with all powers necessary and convenient to carry out and effectuate the purposes and provisions of the N-PCL and to exercise all powers granted to it under the Act; and (B) The Corporation has the authority to take the actions contemplated herein under the Act; and Section 2. The Corporation hereby authorizes the expenditure of up to $33,659 in furtherance of Project and the engagement the Awardees for the disbursement of small business grants following receipt of the same from the City and upon final completion and inspection of D the scope of work defined in the funding Contracts between the awardees and the Corporation. The Chairman, Vice Chairman, and/or Executive Director/Chief Executive Officer of the Corporation are hereby authorized, on behalf of the Authority, to execute and deliver the Funding Agreement with the applicants specified in the attached as Exhibit A, along with other related documents. Section 3. R 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 T things required and to execute and deliver all such certificates, instruments and documents, to AF request, receive, and pay all such awards, 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 Authority. Section 4. These Resolutions shall take effect immediately. Yea Nay Absent Abstain Jeff Betts [ ] [ ] [ ] [ ] Hon. Christopher Nolin [ ] [ ] [ ] [ ] Hon. Kiani Conley-Wilson [ ] [ ] [ ] [ ] Andrew Ross [ ] [ ] [ ] [ ] Dylan Turek [ ] [ ] [ ] [ ] The Resolution was thereupon duly adopted. 2  EXHIBIT A D R T AF 3  T AF R 4 D  EXHIBIT B D R T AF 5  T AF R D  AUTHORIZING RESOLUTION (Community Business Investment Grant - Funding Round 6) A regular meeting of the Troy Local Development Corporation was convened on December 15, 2023, at 9:00 a.m. The following resolution was duly offered and seconded, to wit: Resolution No. 12/23 #6 RESOLUTION OF THE TROY LOCAL DEVELOPMENT CORPORATION AUTHORIZING THE AWARD OF A SMALL BUSINESS GRANT TO KLEA FIRAT KARATAS OWNER OF BLUE RIVER MEDITERRANEAN CUSINE LOCATED AT 908 RIVER STREET, TROY NY 12180 RECOMMENDED BY THE APPOINTED SELECTION COMMITTEE. 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) D 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 R 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 T WHEREAS, the City of Troy (the “City”), having received funding from the Federal AF Government as part of the American Rescue Plan Act (“ARPA”), allocated one million dollars ($1,000,000) to the Corporation for the distribution and administration of small business grants to support community businesses that make capital investments into eligible projects that improve the surrounding community (the “Project”); and, WHEREAS, as a supporting organization of the City of Troy, the Corporation has entered into an agreement with the City to provide those services that are essential for the furtherance of the Project; and WHEREAS, the Project Selection Committee, having reviewed and scored all completed applications as required per the agreement between the City and Corporation, has provided a recommendation for funding for Firat Karatas’s project located at 908 River Street, identified in the included Award Recommendation Letter, of whom the Corporation desires approve for the scope of work and funding amounts specified in their applications and not to exceed the lesser of fifty percent (50%) the total project cost or a total reimbursement of $50,000 in furtherance of the goals of the Program as described in the Agreement and is aligned with the stated mission of the Corporation; and WHEREAS, it is contemplated that the Corporation will authorize the Executive Director and Corporation Counsel to issue funding contracts by and between the recommended applicant and the Corporation for a total disbursement not to exceed fifty thousand dollars ($50,000), to be dispersed as reimbursement for eligible capital costs incurred by the grant awardee per the terms and conditions included in the final award contract (“the Contract”); and NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE TROY LOCAL DEVELOPMENT CORPORATION AS FOLLOWS: Section 1. The Corporation finds and determines that: (A) The Corporation has been vested with all powers necessary and convenient to carry out and effectuate the purposes and provisions of the N-PCL and to exercise all powers granted to it under the Act; and (B) The Corporation has the authority to take the actions contemplated herein under the Act; and Section 2. The Corporation hereby authorizes the expenditure of up to $50,000 in furtherance of Project and the engagement the Awardees for the disbursement of small business grants following receipt of the same from the City and upon final completion and inspection of the scope of work defined in the funding Contracts between the awardees and the Corporation. D The Chairman, Vice Chairman, and/or Executive Director/Chief Executive Officer of the Corporation are hereby authorized, on behalf of the Authority, to execute and deliver the Funding Agreement with the applicants specified in the attached as Exhibit A, along with other related documents. Section 3. R 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 T request, receive, and pay all such awards, charges and expenses and to do all such further acts AF 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 Authority. Section 4. These Resolutions shall take effect immediately. Yea Nay Absent Abstain Jeff Betts [ X ] [ ] [ ] [ ] Hon. Christopher Nolin [ X ] [ ] [ ] [ ] Hon. Kiani Conley-Wilson [ X ] [ ] [ ] [ ] Andrew Ross [ X ] [ ] [ ] [ ] Dylan Turek [ X ] [ ] [ ] [ ] The Resolution was thereupon duly adopted. 2  EXHIBIT A D R T AF 3  T AF R 4 D  EXHIBIT B D R T AF 5  T AF R D