November 14, 2012

Present:          Ray Gillen, Brad Lewis, Sharon Jordan, Bill Chapman, Ed Capovani, Janet            Hutchison, John Mallozzi and Karen Zalewski-Wildzunas

Absent:          Neil Golub, Bob Wall and Bob Mantello

Others:          Jayme Lahut, Jim Callander and an 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 October 17, 2012 meeting minutes; seconded by Mrs. Zalewski-Wildzunas and approved.

2.     Treasurer’s Report: Jayme Lahut reviewed the Treasurer’s Report for the period ending October 31, 2012 which was distributed prior to the meeting. He noted that income is up about $224,000 for the period and operating expenses are below budget. Cash on hand was $1,816,895. He disclosed that the pre-development expenses would exceed its budget for the year due to higher than anticipated project activities, and that the Fiscal Audit Committee was watching the spending pattern. Mr. Lewis moved to accept the Treasurer’s Report; seconded by Mrs. Zalewski-Wildzunas and approved.

3.      Bread and Roses, LLC / Mexican Radio Schenectady Project: Resolution 796-12 —Adopt the General Project Plan

A public hearing on the project was held on October 31, 2012.  No written or oral comments were received. The $3.3 million project includes the purchase and renovation of the former OTB/Imperial Building at State Street and Broadway. The first and second floors of the 26,139 square foot complex will house a destination restaurant and the third floor will be used for office space and/or apartments. Metroplex involvement includes a $256,000 grant for purchase of the building, building stabilization, repairs and/or exterior renovation and façade upgrades.  In addition, Metroplex authorized an exemption from sales and use taxes, mortgage recording tax and real property taxes. The Pilot will add tax base since OTB did not pay any property taxes for the past 25+ years. Mr. Capovani moved Resolution 796-12; seconded by Mrs. Zalewski-Wildzunas. Following discussion, Resolution 796-12 was approved.

4.      Schenectady Armory Redevelopment Project: Resolution 797-12 — Adopt the General Project Plan

The project involves the preservation and adaptive reuse of the 65,000 square-foot Schenectady Armory off lower State Street, which is listed on the State and Federal National Registers of Historic Places.  Schenectady-based Legere Restorations submitted a bid of $260,000 at an OGS auction earlier this year.  Metroplex participation involves granting a partial real property tax exemption to Legere Properties, LLC for ten years generating $395,000 in taxes over the 10-year period. The property has not generated property taxes since it was constructed in 1936. The project was determined to be a Type II action under SEQRA.  Ms. Jordan moved Resolution 797-12; seconded by Mr. Capovani.  Following discussion, Resolution 797-12 was approved.

5.      Executive Session:  Prospective acquisition, sale or lease of real property.

Mr. Capovani moved to convene in executive session to discuss the prospective acquisition, sale or lease of real property, seconded by Mrs. Zalewski-Wildzunas, and approved. The executive session started at 6:25 p.m. and reconvened in public at 6:45 p.m.  Mr. Gillen stated that no action or voting was taken and a property matter was discussed.

6.       Adjournment — Mrs.  Zalewski-Wildzunas moved to adjourn; seconded by Mr. Lewis and approved. The meeting was adjourned at 6:45 p.m.

Respectfully submitted,

Jayme Lahut
Executive Director