Meeting Minutes

October 8, 2014

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

Absent:              Neil Golub, Janet Hutchison and John Mallozzi

Others:              Jayme Lahut, Jim Callander, David Hogenkamp and an audience of 4

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 September 10, 2014 meeting minutes; seconded by Mrs. Zalewski-Wildzunas and approved.

2.     Treasurer’s Report: Mr. Wall reviewed the Treasurer’s Report for the period ending September 30, 2014, which was distributed prior to the meeting. Revenues are ahead of budget because sales tax receipts were higher than forecast. Operating expenses continued to track within budget. Predevelopment expenses had stabilized. Cash on hand totaled $11 million. Following brief discussion, Mrs. Zalewski-Wildzunas moved to accept the Treasurer’s Report; seconded by Mr. Mantello and approved

3.    Mohawk Harbor Development Project: Resolution 922-14 — Accept Final Supplemental Generic Environmental Impact Statement as Complete

The Final Supplemental Generic Environmental Impact Statement (FSGEIS), including the transcript and written comments received during the comment period, was distributed to the board prior to the meeting. Resolution 922-14 made a determination that the environmental review of the Mohawk Harbor site was complete. Mrs. Zalewski-Wildzunas moved resolution 922-14; seconded by Mr. Wall and approved unanimously.

4.      13 State Street / YMCA Redevelopment Project: Resolution 923-14 — Memorandum of Understanding

Resolution 923-14 authorized entering into a Memorandum of Understanding (MOU) with Albany-based developer Norstar Development USA for redeveloping the former YMCA at 13 State Street. Norstar is nationally recognized for its residential, senior and affordable housing development projects with properties in New York, Texas, Michigan and Florida. Norstar is proposing a $15 million adaptive reuse and converting the now vacant YMCA into 60 senior apartments with first floor community space.  The MOU assists with demonstrating site control and securing project financing. Mr. Mantello moved Resolution 923-14; seconded by Mr. Wall. Discussion followed and Resolution 923-14 was approved.

5.     Retain Legal Services: Resolution 924-14 — Retain Gleason, Dunn, Walsh & O’Shea

Resolution 924-14 authorized retaining Gleason, Dunn, Walsh & O’Shea as transactional counsel for Metroplex counsel. The relationship with Authority Counsel, Whiteman Osterman & Hanna remains unchanged.  Ms. Jordan moved Resolution 924-14; seconded by Mr. Lewis. After brief discussion, Resolution 924-14 was approved.

Public Comment: Niskayuna resident Diane Hart supported the adaptive reuse of the YMCA building.

Board Comment: Mr. Wall and other board members reminisced about their experiences residing at the YMCA many years ago.

Adjournment: Ms. Jordan moved to adjourn, seconded by Mr. Lewis. The meeting was adjourned at 6:25 p.m.


Respectfully submitted,

Jayme B. Lahut
Executive Director