Sullivan County Funding Corporation
One Cablevision Center
Ferndale, New York 12734
(845) 295-2603 – telephone
(845) 295-2604 – fax
SPECIAL MEETING MINUTES
Tuesday, September 30, 2014
I. CALL TO ORDER
Chairman Steingart called to order the special meeting of the Sullivan County Funding Corporation at approximately 10:26 A.M., held in the Legislative Hearing Room at the Sullivan County Government Center, Monticello, New York.
II. ROLL CALL
Members Present- Members Absent-
Ira Steingart Sandy Shaddock
Edward Sykes (arrived at 10:40 am) Sean Rieber
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
Tara Lewis, Garigliano Law Offices
Scott Samuelson, Chairman, SC Legislature
Gene Benson, SC Legislature
Stephen Stuart, SC Office of Sustainable Energy
Steve Vegliante, Sullivan Property Acquisitions I, LLC
Mary Adriaans, International Contractor Corp.
Johannes Adriaans, International Contractor Corp.
Dan Hust, SC Democrat
Not all attendees were present for the entire meeting.
III. APPROVAL OF MEETING MINUTES
On a motion made by Mr. Siegel and seconded by Mr. Barbuti, the Board voted and unanimously approved the minutes of the June 10, 2014 and June 24, 2014 special meetings.
IV. BILLS AND COMMUNICATIONS
On a motion made by Mr. Barbuti and seconded by Mr. Seigel, the Board unanimously approved the Schedule of Payments.
V. NEW BUSINESS
Steve Vegliante of Sullivan Property Acquisitions I, LLC presented Chairman Steingart with a check for $60,000, which represents the exercise of the option to purchase the Apollo Plaza parcels, and related documents. He stated that the developer plans to renovate the entire mall. Attorney Garigliano advised that under the Public Authorities Accountability Act (PAAA), the Board needs to authorize the issuance of a notice that SCFC intends to facilitate this sale.
Attorney Garigliano continued that the developer would like to begin interior cleanup work this fall. This is at their own risk, in the event that the sale does not close. They would like to negotiate a pre-closing occupancy agreement so that this work can proceed during the PAAA 90 day notice period. Mr. Siegel asked about insurance, and Attorney Garigliano replied that Attorney Barbara Garigliano will handle insurance and all other aspects of the pre-closing agreement.
A discussion of the drainage issues on the property followed. As previously discussed by the Board, the contract between the County of Sullivan and SCFC must be amended, to grant SCFC an easement so that the developer can make drainage improvements on the site. In addition, the County requires an easement from SCFC along East Broadway, so the County can make infrastructure improvements along East Broadway. The Board determined that this exchange of easements should happen in the near future, when the pre-closing occupancy agreement and other documents have been finalized.
Mr. Siegel made a motion to authorize the filing of the PAAA notice. Mr. White seconded the motion, the Board voted and the motion was unanimously approved.
Ms. Brylinski and Chairman Steingart advised that special district taxes are due on all Apollo Plaza parcels, and Village and School taxes are due on the parcel that is being used by the County and is not tax exempt. Attorney Garigliano stated that SCFC will be reimbursed by the County at closing. Ms. Loughlin made a motion to approve payment of the taxes. The motion was seconded by Mr. White, the Board voted and the motion was unanimously approved.
Attorney Garigliano advised that he has received an option to lease from Ginsberg’s Foods, for the food hub project. The lease option is for warehouse and office space in the building that formerly housed PTNY Real Estate, LLC/ Shelburne Plastics. The building is owned by the Agency, Bridgeville Office Centre, LLC is the beneficial owner. He added that USDA has indicated that the RBEG and RBOG grants can be reprogrammed to this location. We are waiting to hear whether and how the CFA award from New York State can be reprogrammed. In the meantime, Bridgeville Office Centre, LLC would like to collect rent. Ginsberg’s Foods has agreed to make payments of $4,000 per month for up to three months. There was more discussion of the specific details of the Agency’s transaction with PTNY Real Estate LLC, that company’s foreclosure and the process by which we arrived at the current ownership structure. If the lease is executed, Bridgeville Office Centre, LLC will lease the building to SCFC, and SCFC will lease it to Ginsberg’s Foods. In effect, Bridgeville Office Centre, LLC would be Ginsberg’s landlord.
Chairman Steingart asked the Board and those present if there were any questions or comments. There being none, on a motion by Mr. Barbuti, seconded by Ms. Loughlin, the Board voted and the meeting was adjourned at approximately 10:48 A.M.
VP, Business Development