CCIDA

CCIDA facilitates development by attracting new businesses, while promoting the retention and expansion of existing businesses.

201 West Third Street, Suite 115
Jamestown, NY 14701
Tel: 716-661-8900
Email: ccida@ccida.com

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CCIDA Board Minutes – October 22, 2019

November 26, 2019

BOARD OF DIRECTORS MEETING

  County of Chautauqua Industrial Development Agency

BWB Building

201 West Third St., Jamestown, NY 14701

October 22, 2019

10:01 a.m.

Michael Metzger                         Chairman

Dennis Rak                                 Vice Chair

Hans Auer                                  Treasurer

Gary Henry                                 Secretary

Steven Thorpe                            Member

Mark Odell                                 Member

Brad Walters                               Member

Also in attendance:

Mark Geise                                 Administrative Director/CEO

Richard E. Dixon                        Chief Financial Officer

Linda Burns                                CCIDA Staff

Carol Rasmussen                        CCIDA Staff

Kristine Morabito                        CCIDA Staff

Milan K. Tyler, Esq.                   Counsel

Greg Peterson                             Counsel

Michael Borrello                         Counsel

Rebecca Wurster                         City of Dunkirk

Dennis Phillips                            Post Journal

Cory Clark                                  Megalomania

Absent Board Member(s):  Kelly Farrell-DuBois

Meeting was called to order by Mike Metzger, Chairman, at 10:01 a.m.

 

Mike Metzger

I would like to call to order the County of Chautauqua Industrial Development Agency Board of Directors Meeting. We are at the BWB Building, 201 West Third Street, Jamestown, NY. It is October 22, 2019 and the time is 10:01 a.m. Roll call. Let the record show we have 7 members in attendance. We have quorum. I would like to entertain an approval of the September 24, 2019 minutes, which you previously received. Do I have a motion?

Mark Odell

So moved Mr. Chairman.

Mike Metzger

I have a motion by Mark, do I have a second?

Brad Walters

Second.

Mike Metzger

Motion made by Mark and seconded by Brad. Any discussions or changes? All those in favor?

Board

Aye – Unanimous.

Mike Metzger

Opposed, abstained, motion carried unanimously. Now under New Business we will have Kristine Morabito introduce the company.

Kristine Morabito

Introduced Cory Clark, owner of Megalmonia, LLC. and Rebecca Wurster, from the City of Dunkirk.

Described the business – Malt Brewery and the plans.

Cory Clark

Described products, background, experience, and plans for the business.

 

Mike Metzger

Rebecca, would you like to comment please?

 

Rebecca Wurster

Here in support of the business and on the behalf of the City of Dunkirk. Spoke of her connection to the business owner and their discussions in relation to the business.

Kristine Morabito

Spoke about location of the business, the history of the building, project scope, and partnership with local agriculture. Spoke about Loan Committees recommendation – 15 year term for $100,000 at 4% interest, with payments made monthly. Collateral – mortgage on real estate, 2nd lien on non-real estate, assignment of rents and leases, key man life insurance, unlimited personal guarantee, disbursement on take out basis requiring certificate of occupancy and all licenses in place for the business plan, bank transaction screen acceptable in lieu of a phase I environmental review, interest only payments acceptable during the banks initial 12 months interest only period, and fire and hazard insurance.

Mike Metzger

Would we be anticipating a PILOT agreement?

Kristine Morabito

At this point, we are not anticipating the real property taxes increasing to a level where there would also be a PILOT application. If that were to come, that would be the case but not at this time.

Mike Metzger

Questions from the Board?

Dennis Rak

Will this be incorporated with food services?

Cory Clark

We will have restaurant with a limited menu. Explained experience and plans for incorporating food.

Mark Odell

IS there enough capacity for waste disposal?

Rebecca Wurster

Yes, that’s definitely something the City can help Cory with.

Mike Metzger

Any other questions?

Hans Auer

Can you walk through the timing of the financing?

Kristine Morabito

Per the Loan Committees recommendation and the resolution before you, this loan would be made take-out basis. So the approval would be made now, and the bank has agreed to bridge the CCIDA financing until our disbursement. Our disbursement would require Occupancy Certificate and the licensing necessary to operate, per the business plan.

Mike Metzger

Any other questions? Mark if you could please move resolution A. 1.?

Mark Odell

10-22-19-01 Resolution Authorizing an Al Tech RLF Loan for Megalomania, LLC.

Mike Metzger

I have a motion, do I have a second?

Hans Auer

Second.

Mike Metzger

Motion made by Mark and seconded by Hans. Any further discussion. Hearing none. Roll call vote please.

Board

Aye – Unanimous.

Mike Metzger

Let the record show there are 7 votes in the affirmative, motion carried unanimously. Now we will have Linda present the next company.

Linda Burns

Described project for Mark Graham dba. Graham’s Market. 4% fixed rate, 7 year term, and option of either a 2 or 12 month interest only to provide cash flow relief while the store is being set up. Collateral – subordinate pro-rata liens on the real property and business assets, assignment of rents and leases, assignment of key man life insurance, and unlimited personal guarantee. Described Mr. Graham’s experience, history of the business, demographics in Sherman, and the support Mr. Graham has been receiving in relation to the need for the store to re-open.

Mike Metzger

Any questions for Linda?

Rich Dixon

When I first got here, the IDA had approved a loan to the original business and that was paid back successfully.

Mike Metzger

Steven, if you could please move New Business B. 2.?

Steven Thorpe

10-22-19-02 Resolution Authorizing a CRLF Working Capital Loan for Mark Graham dba Graham’s Mart.

Mike Metzger

I have a motion, do I have a second?

Dennis Rak

Second.

Mike Metzger

Motion made by Steven and seconded by Dennis. Any further discussion. Hearing none. Roll call vote please.

Board

Aye – Unanimous.

Mike Metzger

Let the record show there are 7 votes in the affirmative, motion carried unanimously. We are adding a new resolution to the agenda, which is the Jamestown Medical resolution. I will accept a motion on that, and then we will have a discussion. Brad, would you mind moving New Business C. 1.?

Brad Walters

10-22-19-03 Jamestown Medical Consent Resolution.

Mike Metzger

I have a motion, do I have a second?

Mark Odell

Second.

Mike Metzger

Motion made by Brad and seconded by Mark.

 

Rich Dixon

Back in 2009 WNY Urology was going to build a new building. That has been built, which has provided a tremendous amount of service needed in Jamestown. They have gone through a lot of iterations and it is now being sold to a group who fits their business.

Milan Tyler

This is consent to transfer ownership of the building. This is a type II under SEQR because nothing is going to change. Non-recourse to the IDA, IDA is not going to charge a fee but asks that they pay the legal fees.

Mike Metzger

Any further discussion? Hearing none. Roll call vote please.

Board

Aye – Unanimous.

Mike Metzger

Let the record show there are 7 votes in the affirmative, motion carried unanimously. Now we will move to Executive Directors update.

Mark Geise

Updates on: Ripley Gateway Center, NRG Feasibility Study, Empire State Brands, Economic Development Strategy, Brochures, Brownfield Development Strategy, Stannard, Fluvanna Demolition, Regal Demolition/Transfer, Website, NYS ED Conference, Airport EAS, MOA, Stoneman Park Fiber Project, Dunkirk FBO, and Holiday Party.

Mike Metzger

Let’s go to the Treasurers Report

Rich Dixon

Reviewed Report and Budget/Financials.

Mike Metzger

I would like a motion and a second on accepting the Treasurers Report.

Mark Odell

So moved.

Gary Henry

Second.

Mike Metzger

Motion made by Mark and seconded by Gary. Any further discussion? All those in favor?

Board

Aye – Unanimous.

Mike Metzger

I would entertain a motion for the acceptance of the proposed 2020 budget, as presented.

Steven Thorpe

Motion.

Brad Walters

Second.

Mike Metzger

Motion made by Steven and Seconded by Brad. Any further discussion? All those is favor?

Board

Aye – Unanimous.

Mike Metzger

Opposed, abstained, motion carried unanimously. I will now entertain a motion to enter Executive Session.

 

Hans Auer

So moved.

Gary Henry

Second.

Mike Metzger

Motion made by Hans and seconded by Gary. All those in favor?

Board

Aye – Unanimous.

Mike Metzger

Opposed, abstained, we are now in Executive Session.

Executive Session Begins

 

10:49 a.m.

__________________________________________________________________________________________

Mike Metzger

I will now entertain a motion to go back in to option session.

Dennis Rak

So moved.

Brad Walters

Second.

Mike Metzger

Motion made by Dennis and seconded by Brad. All those in favor?

Board

Aye – Unanimous.

Mike Metzger

Opposed, abstained, we are now out of Executive Session.

 

Executive Sessions Ends

 

11:08 a.m.

__________________________________________________________________________________________

Mike Metzger

The old Business, the Social Media Policy, was approved by the Governance Committee and will come before the Board at our next meeting. Anything else to come before this board? Hearing none. I will entertain a motion to adjourn.

Mark Odell

So moved Mr. Chairman.

Steven Thorpe

Second.

Mike Metzger

Motion made by Mark and seconded by Steven. All those in favor?

Board

Aye – Unanimous.

Mike Metzger

Opposed, abstained, we are now adjourned.

_________________________________________________________________________________________

 

Meeting adjourned at 11:09 a.m.

­­­­­­­­­­­­­­­­­­­­­­__________________________________                            ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­_____________________________________

(Assistant) Secretary                                                                            (Vice) Chairman

Filed Under: Board Minutes, CCIDA Minutes, News

CCIDA Mission and Goals

The CCIDA is an economic development organization authorized and empowered by the State of New York to make Chautauqua County a better place to work, live, and visit. We facilitate development by attracting new businesses, while promoting the retention and expansion of existing businesses. Assistance in the forms of incentives – tax abatements, low interest loans, and bond financing – enhances the opportunities for job creation and retention by our businesses. Business … Learn More

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