Sullivan County Funding Corporation
One Cablevision Center
Ferndale, New York 12734
(845) 295-2603 – telephone
(845) 295-2604 – fax
SPECIAL MEETING MINUTES
Tuesday, April 8, 2014
I. CALL TO ORDER
Chairman Steingart called to order the special meeting of the Sullivan County Funding Corporation at approximately 9:52 A.M., held in the Legislative Committee Room at the Sullivan County Government Center, Monticello, New York.
II. ROLL CALL
Members Present- Members Absent-
Ira Steingart none
Staff Present- Staff Absent-
Jennifer C.S. Brylinski, Exec. Dir. None
Jen Flad, VP
Allan Scott, IDA CEO, ALSCO Management Inc.
Walter Garigliano, Garigliano Law Offices
Scott Samuelson, SC Legislature
Cindy Kurpil Gieger, SC Legislature
Cora Edwards, SC Legislature
Gene Benson, SC Legislature
Dan Hust, SC Democrat
Fritz Mayer, River Reporter
Marc Baez, SC Partnership for Economic Development
Not all attendees were present for the entire meeting.
Chairman Steingart welcomed two new members, Howard Siegel and Carol Roig, to the Board.
III. APPROVAL OF MINUTES
Chairman Steingart asked for a motion to approve the minutes of the March 18, 2014 special meeting. Mr. Rieber made a motion to approve the minutes. Mr. White seconded the motion, the Board voted, and the minutes were unanimously approved.
IV. BILLS AND COMMUNICATIONS
Mr. Sykes made a motion to approve the schedule of payments. The motion was seconded by Mr. White, the Board voted and the schedule of payments was unanimously approved.
V. NEW BUSINESS
Ms. Brylinski noted that the positions of Vice Chairman and Assistant Secretary are currently vacant. Mr. Rieber nominated Ms. Shaddock for the position of Assistant Treasurer, Mr. Barbuti seconded the nomination, the Board voted and Ms. Shaddock was unanimously elected. Ms. Loughlin nominated Mr. Sykes for the position of Vice Chairman, Mr. White seconded the nomination, the Board voted and Mr. Sykes was unanimously elected. Ms. Shaddock nominated Ms. Loughlin for the position of Secretary, Mr. Rieber seconded the nomination, the Board voted and Ms. Loughlin was unanimously elected. Ms. Loughlin nominated Mr. Rieber for the position of Assistant Secretary, Mr. White seconded the nomination, the Board voted and Mr. Rieber was unanimously elected. Mr. Steingart will remain Chairman, and Mr. Barbuti will remain Treasurer and CFO.
Chairman Steingart stated that he will make committee appointments by letter after the meeting.
Chairman Steingart began a discussion of the Apple’s Small Engine Repair, LLC Millennium Revolving Loan Fund application.
Attorney Garigliano noted that he has developed a matrix of all loan programs offered by the IDA, SCFC, Sullivan County Partnership and Sullivan County Legislature. Working together, the agencies can ensure that loan applicants are directed toward the most restrictive loan funds for which they are eligible. This leaves funds in less restrictive loan programs available for those who need them.
Mr. Baez added that the Partnership also accesses out-of-county funds and incentives, and customizes loan packages for each applicant. With respect to the current application, he noted that Apple’s Small Engine Repair, LLC is the purchase and expansion of an existing business, Roger’s Small Engine in Liberty. The applicants plan to add new product lines including all terrain vehicles.
Douglas Abplanalp described the existing product lines and his plans to add new product lines to compete with larger retailers, and his plans capture a larger share of the market for ATVs, snowmobiles and related products. He stated that he works as a physical therapist as well as working at Apple’s. He introduced Erin Edwards-Tacti, Apple’s business manager who is working to update and improve the company’s inventory management system, logistics software and website among other duties. He added that he has kept all of the business’s employees and has added another, with plans to add one or two more employees over the next year.
Ms. Brylinski directed the members to their loan packets and stated that the applicant meets all of the requirements of the Millennium Revolving Loan Fund. Mr. Baez, Mr. Scott and Attorney Garigliano have all reviewed the application and attachments.
Mr. White pointed out that there is an error in the application. He spoke with the applicant and learned that the correct answer to the questions, “Is the company current in all tax obligations?” is yes.
Attorney Garigliano stated that the primary source of funding is the First National Bank of Jeffersonville. Mr. Sykes, as a member of the bank’s Board of Directors, must recuse himself from reviewing and voting on this application.
Mr. Barbuti stated that, as the Supervisor of the Town of Liberty, he must recuse himself as well. He commented that this is a wonderful project and he is happy to see young businesspeople coming in to Liberty to grow and expand established businesses.
Ms. Shaddock stated that the addition of a retailer for winter sports vehicles and equipment will be a great advantage to the County.
Mr. Rieber made a motion to approve the application. Mr. Siegel seconded the motion, the Board voted and the application was approved with Mr. Sykes and Mr. Barbuti abstaining for the reasons noted above.
Chairman Steingart questioned the Board and those present if there were any questions or comments. There being none, on a motion by Mr. White, seconded by Mr. Barbuti, the Board voted and the meeting was adjourned at approximately 10:10 A.M.
VP, Business Development