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

  • Home
  • About Us
    • CEO Message
    • Board Members
    • Staff
    • CCIDA Mission and Goals
    • County Demographics
    • ’21 Year-End Report & ’22 Work Plan
  • Financial
    • CCIDA Financial Reports
    • CRC Financial Reports
    • Financial Incentives
  • Policies
    • Adopting By-Laws
    • By- Laws
    • Board Minutes
      • CCIDA Board Minutes
      • CRC Board Minutes
      • CREDC Board Minutes
      • Governance Committee Meeting Minutes
      • Audit Committee Meeting Minutes
    • CCIDA Ethics Code
    • Conflict of Interest Policy
    • Enabling Statute
    • Fee Schedule
    • Industrial Revenue Bond Policy
    • Investment
    • Procurement Policy
    • Property Disposition Policy
    • Travel
    • UNIFORM TAX EXEMPTION POLICY AND GUIDELINES
    • Whistleblower
  • Properties
    • Properties Listed On StateBook
    • Commercial & Industrial Property Search
    • Chautauqua-Cattaraugus Board of Realtors, Inc.
    • Brownfields
    • Opportunity Zones
  • News
    • Livestreaming
    • Events
    • 2022 Meeting Schedule
    • Press Releases
    • Public Meeting Notices/ Applications
    • Agendas
    • Board Minutes
  • Project Log
    • Tax Lease PILOTS
    • Tax Exempt Bond Issuances
  • Links
    • Affiliates
    • Education
    • Healthcare
    • Job Search Links
    • Partners
    • Media Outlets
    • Municipalities
    • NYS Elected Officials
    • Utilities
    • Start Up NY
  • Contact
  • Resources

CRC Board Minutes – January 28, 2020

October 29, 2020

 BOARD OF DIRECTORS MEETING

 Chautauqua County Capital Resource Corporation

CRC

BWB Building

201 West Third Street, Jamestown, NY

January 28, 2020

11:20 a.m.

Michael Metzger                         Chairman

Hans Auer                                  Treasurer

Gary Henry                                 Secretary

Steven Thorpe                            Member

Mark Odell                                 Member

Brad Walters                               Member

Kelly Farrell-Dubois                   Member

Also in attendance:

Mark Geise                                 Administrative Director/CEO

Richard E. Dixon                        Chief Financial Officer

Milan K. Tyler, Esq.                   Counsel

Greg Peterson                             Counsel

Michael Borrello                         Counsel

Carol Rasmussen                        CCIDA Staff

Kristine Morabito                        CCIDA Staff

Linda Burns                                CCIDA Staff

Rosemarie Strandburg                 CCIDA Staff

Jeanette Lo Bello                        CCIDA Staff

Nathan Aldrich                           CREDC/PED Staff

Absent Board Member(s):

Dennis J. Rak                          Vice Chairman

Meeting was called to order by Michael Metzger, Chairman, at 10:03 a.m.

Mike Metzger

I would like to call to order the Chautauqua County Capital Resource Corporation Board of Directors Meeting. We are at the BWB Building, 201 West Third Street, Jamestown, NY. It is January 28, 2020 and the time is 11:20 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 October 22, 2019 minutes, which you previously received. Do I have a motion?

 

Mark Odell

So moved Mr. Chairman.

Michael Metzger

Thank you. Do I have a second?

Gary Henry

Second.

Michael Metzger

Motion made Mark and seconded by Gary. Any changes or comments? Hearing none. All those in favor?

Board

Aye – Unanimous.

Michael Metzger

New business, Angel Fund.

Rich Dixon

Back when we closed the first NRG deal, we received a large sum of money. Bill Daly had talked to the Mayor of Dunkirk and some people at the Incubator and we formed what was called the Chautauqua Seed Fund. It was with money that solely came from the IDA. It was a grant of $140,000 that was made to the IDA to CREDC and CREDC was the operator It was money for stat-up companies in the incubator. We lent that $140,000 out in form of convertible notes but after 3 years it did not work out. Turing to a year and half ago, Southern Tier West/Richard Zink got a grant from the Appalachian Region Commission to explore the possibility of starting an Angel Fund for the 3 counties. They brought in multiple people and had meetings that went very well. They have 7 investors so far who have each put up $25,000 and then they were looking for each of the IDAs to put in to this fund. So I approached George Cregg and in recent years the controller has looked at these as investments and IDAs are not allowed to invest in Angel Funds. We also can’t lend our money to Angel Funds. I was going to have a resolution today but we need to do more homework on this as I am not comfortable that it can be done. More to follow.

Milan Tyler

There is often a contribution to a lending fund without the expectation of a return but the State is correct, you should not be lending your funds to a private party.

Michael Metzger

Thank you. Any other business to come before the CRC? Hearing none. We are adjourned. – 11:25 a.m.

______________________________________                  ____________________________________

(vice) Secretary                                                                       (vice) Chairman

Filed Under: Board Minutes, CRC Board Minutes, News, Uncategorized

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

ccvb
Link to 2021 Annual Report

CONNECT WITH US

South County Address
201 West Third Street, Suite 115
Jamestown, NY 14701

P: 716-661-8900


North County Address
214 Central Avenue, Suite 144
Dunkirk, NY 14048

P: 716-661-8900

Events

Enlarge Calendar

Helpful Links

  • Manufacturers Productivity Improvement Program
  • Media

Copyright © 2022 · County of Chautauqua Industrial Development Agency
Site designed by Tint Press.