March 12, 2014

Present:             Ray Gillen, Brad Lewis, Neil Golub, Bob Wall, Bill Chapman, Sharon Jordan, Ed Capovani and Karen Zalewski-Wildzunas

Absent:              John Mallozzi, Janet Hutchison, Bob Mantello

Others:           Jayme Lahut, Jim Callander, David Hogenkamp and audience of 2

Call to Order:    Mr. Gillen called the meeting to order at 6:00 p.m.

1.    Approval of Minutes: Ms. Jordan moved adoption of the January 2014 meeting minutes, seconded by Mr. Golub and approved.

2.  Treasurer’s Report: Mr. Wall stated that the Fiscal Audit Committee received a presentation from Robert Kristel, CPA, who reviewed the 2013 year-end financial statements, which was distributed prior to the meeting. He noted a slight decline in sales tax receipts for the year and that operating expenses stayed below the budgeted amount. Predevelopment expenses were above budget due to the extensive development activity during the year. Following brief discussion, Mr. Lewis moved to accept the Treasurer’s Report; seconded by Mrs. Zalewski-Wildzunas and approved.

3.    111 Liberty Street (former MVP Health Care) Project:  Resolution 879-14 —SEQRA 

Resolution 879-14 designated the project as an Unlisted Action pursuant to SEQRA with no significant effect on the environment.  The action involved the renovation, adaptive reuse and conversion of a vacant 31,000 square foot building at 111 Liberty Street to residential uses.  Mrs. Zalewski-Wildzunas moved Resolution 879-14; seconded by Mr. Golub and approved.

4.    111 Liberty Street (former MVP Health Care) Project: Resolution 880-14 — Adopt the General Project Plan

The project converts the former MVP headquarters to 31 market-rate apartments at 111 Liberty Street. The parking lot at 119 State Street will also be reconstructed. Resolution 880-14 authorized a $225,000 grant for renovations and a partial exemption from taxes pursuant to §2667 of the Metroplex statute.  Mrs. Zalewski-Wildzunas moved Resolution 880-14; seconded by Ms. Jordan. After discussion, Resolution 880-14 was approved.

5.   Lower State Street Revitalization Project: Resolution 881-14 — Award Contract

Resolution 881-14 authorized retaining Callanan Industries Inc. of Schenectady as the lowest qualified bidder to repair about 15 subsurface vaults beneath the sidewalks as part of the lower State reconstruction project. These improvements are necessary in advance of the street, sidewalk and curb repairs, which Metroplex intends to start this summer. Four firms responded to the bid package prepared by CHA Consulting Inc. The low bid submitted by Callanan was $484,900. Mr. Wall moved Resolution 881-14; seconded by Mr. Lewis. After discussion, Resolution 881-14 was approved.

6.   Alco Redevelopment Project: Resolution 882-14 — Amend the General Project Plan
Resolution 882-14 extended the partial real property tax exemption for the Alco project by one year at $40,000 per year, which allows completion of plans and securing State and local permits and approvals. Although the site is much improved following demolition of blighted structures, it generates no income to the developer, Maxon Alco Holdings, LLC.  Ms. Jordan moved Resolution 882-14; seconded by Mrs. Zalewski-Wildzunas and approved.

7.   Downtown Schenectady Improvement Corporation: Resolution 883-14 — Adopt General Project Plan

The action involved making a $160,650 grant in support of DSIC’s cleaning and beautification activities keeping the downtown clean, neat and safe 7-days a week. Metroplex’s participation remains unchanged from last year while the DSIC has committed additional staffing during the week and on weekends. Mrs. Zalewski-Wildzunas moved Resolution 883-14; seconded by Mr. Golub. After discussion about DSIC’s activities, Resolution 883-14 was approved.

8.   1611 Union Street (Salamack) Façade Project: Resolution 884-14 —Adopt the General Project Plan

Resolution 884-14 authorized a grant not to exceed $75,000 for exterior façade improvements.  The building is one of only a few remaining that have not been updated following the successful upper Union Street façade program. Now with new ownership, Thomas Pai has committed to invest in exterior and interior improvements, including updating the façade with a new architectural cornice, siding, stonework, windows/doors, metal awning and paint.  Tenant spaces will be improved too. Ms. Jordan moved Resolution 884-14; seconded by Mr. Golub. After discussion, Resolution 884-14 was approved.

9.    Accounting Services Contract: Resolution 885-14 — Robert L. Kristel, CPA

Resolution 885-14 extended the annual contract with Robert L. Kristel, CPA, P.C, for services including on-call accounting services, preparation of quarterly review statements, preparing year-end financials, and bond reporting. The firm also provides information used by management decision making, planning and meeting regulatory requirements with government agencies. The compensation is $3,000 higher than last year at $51,000. Mr. Wall moved Resolution 885-14; seconded by Mr. Lewis and approved.

10.   Project Reconciliation and Accounting: Resolution 886-14 — Release Unexpended Obligations

The Fiscal Audit Committee reviewed a list of closed projects at its February 27 meeting and recommended the close out of 13 projects with unexpended funds of $138,617.  These funds will be returned to the general fund for investment in new projects. Mr. Lewis moved Resolution 886-14; seconded by Mr. Golub and approved.

11.   Project Reconciliation and Accounting: Resolution 887-14 — Allocate Funds for Unbudgeted Project Expenditures  

The Fiscal Audit Committee reviewed a list of projects at its February 27 meeting where the final tally of Metroplex expenditures exceeded the approved allocation. Resolution 887-14 ratified budget variances totaling $98,256 on 7 closed projects, mostly legal billings and other soft costs, which often lag behind project hard costs. Ms. Jordan moved Resolution 887-14; seconded by Mr. Golub and approved.

Public Comment:

Jim Salengo, DSIC Executive Director thanked the Metroplex Board for the financial support of their organization.

Board Comment:  None

 Executive Session:  Ms. Jordan moved to convene in executive session to discuss the prospective acquisition, sale or lease of real property; seconded by Mr. Capovani. At 6:45 p.m., the board entered into a private session. At 7:00 p.m., Mr. Lewis moved and Mrs. Zalewski-Wildzunas seconded a conclusion to the executive session. Mr. Gillen stated that no votes or other authorizations were undertaken during the session.

Adjournment: Mrs. Zalewski-Wildzunas moved to adjourn, seconded by Mr. Lewis. The meeting was adjourned at 7:00 p.m.

Respectfully submitted,

Jayme Lahut
Executive Director