Present: Ray Gillen, Brad Lewis, Bob Wall, Sharon Jordan, Gary McCarthy, Neil Golub, Bob Mantello, Janet Hutchison, Bill Chapman and John Mallozzi
Absent: Ed Capovani
Others: Jayme Lahut and Jim Callander
Call to Order: Mr. Gillen called the meeting to order at 6:00 p.m.
1. Approval of Minutes: Mr. Golub moved adoption of the March 9, 2011 meeting minutes; seconded by Mr. McCarthy and approved.
2. Treasurer’s Report: Mr. Wall stated that there was nothing unusual to report on the Income and Operating Expense Report for the period ending March 31, 2011 which was distributed prior to the meeting. Cash on hand totaled $2,258,660. He noted that the actual predevelopment expenses for the period are right on target for the year. Mr. Lewis moved acceptance of the Treasurer’s Report; seconded by Ms. Jordan and approved.
3. 2010 Audit: Resolution 702-11 — Adopt Audit for the Fiscal Year Ending December 31, 2010
Mr. Wall reported that the Fiscal Audit Committee reviewed and recommended adoption of the 2010 audit prepared by Bollam Sheedy & Torani. He noted the audit was clean and unqualified as in past years. There were no changes to the financial statements that Bob Kristel reviewed with the Board in March. Any findings had already been addressed. The audit will be placed on the Authority website and sent to various state and local officials. Mr. Wall moved Resolution 702-11; seconded by Ms. Jordan. After brief discussion, Resolution 702-11 was approved.
4. Operating Policies and Procedures: Resolution 703-11 — General Operating & Financial Policy (Section A)
The General Operating and Financial Policy requires Board review and reauthorization every 3 years. These policies proved the internal system of checks and balances for proper oversight of operational and financial activities. No changes were recommended. Mr. Lewis moved Resolution 703-11; seconded by Ms. Jordan and unanimously approved.
5. Operating Policies and Procedures: Resolution 704-11 — Cash Management and Investment Policy (Section B)
The Cash Management and Investment Policy requires an annual reauthorization. The policy is identical to the NYS Comptroller’s guidelines for municipalities and authorities. Jayme Lahut also reviewed an Investment Report that is now required by the Authority Budget Office. The resolution reauthorizes the policy and accepts the Investment Report. Mr. Wall moved Resolution 704-11; seconded by Mr. Golub and unanimously approved.
6. Operating Policies and Procedures: Resolution 705-11 — Procurement Guidelines (Section C)
The Procurement Guidelines require Board review and re-approval every 3 years. Mr. Golub moved Resolution 705-11; seconded by Mrs. Hutchison. Discussion followed about adhering to the provisions of the Public Authorities Law on procurement. Resolution 705-11 was unanimously approved.
7. Operating Policies and Procedures: Resolution 706-11 — Sale and Reporting of Bonds and Notes (Section E)
The NYS Comptroller sets guidelines with respect to procurement of services in connection with the issuance of bonds, which Metroplex follows for all bond issuances. The policy must be reviewed and reapproved annually. There were no changes. Mr. Lewis moved Resolution 706-11; seconded by Ms. Jordan and unanimously approved.
8. Operating Policies and Procedures: Resolution 707-11 — Real Property Disposition Policy (Section F)
The policy follows the guidelines posted by the Authority Budget Office with respect to selling personal property and real property valued in excess of $5000. Resolution 707-11 reauthorizes the policy, reaffirms the Executive Director as Contracting Officer for monitoring policy compliance and accepting the annual Real Property Disposition Report that was reviewed by Jayme Lahut. Resolution 707-11; seconded by Mr. Wall. After discussion, Resolution 707-11 was unanimously approved.
9. Operating Policies and Procedures: Resolution 708-11 — Loan Administration Policy (Section G)
The policy sets forth the Authority’s policies for its loan portfolio including the responsibilities and obligations of the Fiscal Audit Committee and the Board. The policy must be reviewed and re-approved every three years. Mr. Lewis moved Resolution 708-11; seconded by Ms. Jordan. There was no discussion. Resolution 708-11was unanimously approved.
10. Operating Policies and Procedures: Resolution 709-11 — Reauthorize Master Goal Plan for Minority / Women-owned Business Enterprises (Section H)
The policy addresses the requirements under Executive Law 15-A for procuring and using State-certified MWBE businesses in acquiring goods and services. Jayme Lahut explained that new changes in the requirements are pending with the State. Mr. Lewis moved Resolution 709-11; seconded by Mrs. Hutchison. Discussion followed about on-going efforts county-wide of getting more businesses certified by New York State as MWBEs. Resolution 709-11 was approved.
11. Public Comment — None
12. Project Updates — Mr. Lewis moved to convene in executive session to discuss certain legal issues related to a real estate matter; seconded by Mr. Mantello. At 6:20 p.m. the Board met in executive session and reconvened publicly at 6:30 p.m. Mr. Gillen stated that no voting occurred during the executive session. Discussion followed about various projects and issues.
13. Adjournment — Mr. Wall moved to adjourn; seconded by Ms. Jordan. The meeting was adjourned at 6:40 p.m.
Jayme B. Lahut
Schenectady Metroplex Development Authority
Board Meeting Minutes
April 29, 2011
Present: Ray Gillen, Bob Wall, Gary McCarthy, Neil Golub, Bob Mantello, John Mallozzi, Janet Hutchison, Bill Chapman and Ed Capovani
Absent: Brad Lewis and Sharon Jordan
Others: Jayme Lahut and Scott Cietek
Call to Order: Mr. Gillen called the meeting to order at 8:00 a.m.
1. Approval of Minutes: Mr. Mantello moved adoption of the April 13, 2011 meeting minutes; seconded by Mr. Wall and approved.
2. Hometown Health Center (Schenectady Family Health Services): Resolution 710-11 — Amend the General Project Plan
In 2004 the Authority made a $1.5 million construction / permanent loan for 15 years (20-year amortization) at 0 percent interest as part of a $6.1 million project to expand Schenectady Family Health Services (d/b/a/ Hometown Health). In November 2010, Hometown Health was awarded a $2.5 million HEAL grant for reducing its debt from $33,854 per month to $18,212 by allotting grant proceeds to Metroplex ($475,000) and CPC ($1,140,000). Resolution 710-11 consented to the transaction as well as extended Metroplex’s loan term from 15-years to 20-years thereby matching the loan terms of the other two lenders. Mr. Wall moved Resolution 710-11; seconded by Mrs. Hutchison. Following discussion, Resolution 710-11 was approved.
3. Public Comment: None
4. Board Comment: Mr. Gillen updated members on several projects including SCCC’s plans for a new music building.
5. Adjournment — Mr. McCarthy moved to adjourn; seconded by Mr. Mantello. The meeting adjourned at 8:20 a.m.
Jayme B. Lahut