1
00:00:01,840 --> 00:00:05,120
This meeting is now being live streamed.

2
00:00:25,590 --> 00:00:49,370
Please sit, can you hear us? I can. Can the bill, can you hear us? I sure can, Michael. Great, good morning. Chairman, you have audio connection and video connection and live cameras behind you. Okay, we're going to open a special meeting today.

3
00:00:49,970 --> 00:00:55,530
First thing on the agenda is we have the draft minutes from October 15th meeting and

4
00:00:56,250 --> 00:00:58,870
everybody's ready to look them over to any questions.

5
00:01:00,170 --> 00:01:01,670
If not, I don't need a motion in a second.

6
00:01:02,070 --> 00:01:02,530
I'll make a motion.

7
00:01:03,890 --> 00:01:03,990
Second.

8
00:01:04,530 --> 00:01:05,230
Voice in favor.

9
00:01:06,410 --> 00:01:06,750
So move.

10
00:01:08,550 --> 00:01:09,610
We're going to do next.

11
00:01:09,890 --> 00:01:10,630
And this is over here.

12
00:01:10,850 --> 00:01:14,210
We're going to get right into the conference center.

13
00:01:14,930 --> 00:01:16,870
And Mike's going to go through.

14
00:01:16,870 --> 00:01:18,410
Good morning.

15
00:01:20,190 --> 00:01:29,150
The board members will remember that in February, the county asked us to receive the transfer

16
00:01:29,150 --> 00:01:39,910
of a 3.625 acre parcel of land in the Commerce Park for sale to SAT, SAAD development

17
00:01:39,910 --> 00:01:51,650
work who were interested and were put together proposals for a distribution center and apparently

18
00:01:51,650 --> 00:01:56,470
how it was working is they put two or three sites together and other developers put

19
00:01:56,470 --> 00:02:01,630
sites together and then the company that was interested in the distribution center made a selection

20
00:02:01,630 --> 00:02:10,790
and they selected a site down in Dutches County on Route 84 as opposed to the site in the

21
00:02:10,790 --> 00:02:19,130
Commerce Park. As a result they terminated the contract and on the terms we kept $7,500

22
00:02:19,130 --> 00:02:31,350
of earnest money realizing that that site had future potential. We passed around the

23
00:02:31,350 --> 00:02:39,830
survey map, but we went ahead and got a survey done and we got an appraisal done.

24
00:02:40,650 --> 00:02:47,210
And the reason we ordered the appraisal was because at the time we felt that the developer

25
00:02:47,210 --> 00:02:54,510
had who was from downtown offered a price far in excess of the market value.

26
00:02:56,730 --> 00:03:07,250
and we have had the county has had an offer for the site at 80,000 and as you recall the previous

27
00:03:07,250 --> 00:03:15,650
proposed offer was at 120,000. So we have done an appraisal. Your appraisal is at $90,000.

28
00:03:15,870 --> 00:03:23,330
We presented this to the Board of Supervisors Economic Development Committee last Monday. They have

29
00:03:23,330 --> 00:03:33,310
approved the transfer of the property to CEDC for sale at 90,000 to the both the person

30
00:03:33,310 --> 00:03:38,870
who's offered 80 if they're willing to pay that. And the full board of supervisors will

31
00:03:38,870 --> 00:03:49,250
review it at their meeting on next Wednesday, week from tomorrow. And at that point, we would

32
00:03:49,250 --> 00:03:55,250
to ask this board as December meeting to consider whether or not to fill it for the appraised

33
00:03:55,250 --> 00:04:01,990
value to the company that is both purchasing.

34
00:04:02,730 --> 00:04:05,530
It is another site, a company in the commerce part.

35
00:04:05,990 --> 00:04:12,250
They are going to retain 25 jobs by moving into a new facility that they would build on this

36
00:04:12,250 --> 00:04:15,070
site and how it does.

37
00:04:16,270 --> 00:04:29,690
Again, we want to bring this to your attention and to the attention of the public through this process so that and I have the appraisal which I'll circulate. I can email copies.

38
00:04:29,690 --> 00:04:39,710
We'll post a copy on the on the website and then assuming the county approves the transfer of the property to us, we would proceed with a sale.

39
00:04:39,710 --> 00:04:50,510
And I have notified the authority budget office of a potential sale as they require a 90 day notice before we transfer any real property.

40
00:04:51,350 --> 00:04:52,030
Any questions?

41
00:04:59,260 --> 00:05:00,240
It's not chairman.

42
00:05:01,520 --> 00:05:05,080
The have been in touch with Hudson River Valley holding.

43
00:05:05,880 --> 00:05:09,780
That's the entity that Paul Harpiss and Max.

44
00:05:10,480 --> 00:05:13,420
It's a side company I've never pronounced as last week.

45
00:05:13,760 --> 00:05:17,580
So it's a savage own together.

46
00:05:19,500 --> 00:05:24,660
And we had given them an extension to build during COVID.

47
00:05:25,040 --> 00:05:28,520
When they purchased the property, they had a penalty mortgage,

48
00:05:28,660 --> 00:05:33,440
which required them to construct a facility on that site within two years.

49
00:05:34,280 --> 00:05:37,200
We did give them an extension and they have until next June.

50
00:05:37,200 --> 00:05:44,200
I offered them the opportunity to talk to this developer or this company as well as others

51
00:05:44,200 --> 00:05:50,280
who might have interest if they're not in a position to build on themselves.

52
00:05:51,120 --> 00:05:56,360
We have a couple of conversations, but nothing definitive to report.

53
00:05:57,420 --> 00:06:01,000
Limbs machinery, you'll see when you drive by, they have their steel building up.

54
00:06:01,860 --> 00:06:05,100
It's not secured yet, so I don't believe they've done anything inside.

55
00:06:06,600 --> 00:06:24,480
And that's, you know, right on the, on the corner and at that point there is some land that the county has in the back adjacent to the fire training facility where they're thinking of putting a new

56
00:06:28,400 --> 00:06:43,420
that the county operates, the county is considering using some of their ARPA funds for that project, but it would be a three or four million dollar project, and they would need other grant funding for that project as well.

57
00:06:43,420 --> 00:07:00,220
other than that, Harpiss himself has a lot that the CEDC transferred to him. It has a similar penalty mortgage and CEDC had given him the same extension that you provided.

58
00:07:01,040 --> 00:07:09,780
Dutz and River Valley holding during COVID so they had a chance to develop that property without having to pay the penalty.

59
00:07:11,160 --> 00:07:16,620
We do have, I think, the tent company is built a new facility, a building on their site

60
00:07:16,620 --> 00:07:24,880
when you see that, and the real question long-term is there are two or three sites that are

61
00:07:24,880 --> 00:07:30,480
owned by people who have not developed them, but they did pay the penalty mortgage.

62
00:07:31,200 --> 00:07:35,860
So we're working with those people to see how long do they want to hold their site.

63
00:07:35,860 --> 00:07:45,860
And my thought is in most instances, they paid 60 to 75 grand for those properties all

64
00:07:45,860 --> 00:07:46,900
in after the penalty.

65
00:07:47,720 --> 00:07:52,280
And if they can see that they're not going to use it, they're now up to market.

66
00:07:52,540 --> 00:07:57,260
There was a while where the initial payment plus the penalty was above market.

67
00:07:57,900 --> 00:08:02,780
But now that the market price for these types of land with water sewer,

68
00:08:02,780 --> 00:08:11,080
Yes, electric and broadband at the same location, perhaps someone who was holding it and who no longer has a purpose for it, but didn't want to sell it at a loss.

69
00:08:11,840 --> 00:08:14,560
I open it up to another opportunity.

70
00:08:14,560 --> 00:08:18,800
My quick question, how many parcels are still left?

71
00:08:19,360 --> 00:08:21,080
Two or three in a corner's part that week.

72
00:08:21,420 --> 00:08:21,500
Yeah.

73
00:08:21,860 --> 00:08:22,420
And two or three.

74
00:08:22,620 --> 00:08:24,060
And that raises the question.

75
00:08:24,580 --> 00:08:30,820
You know, that was a great plan when it was first initiated.

76
00:08:31,100 --> 00:08:33,620
It's got to be 15 or 20 or four years ago.

77
00:08:34,640 --> 00:08:36,720
So there have been some inquiries.

78
00:08:37,400 --> 00:08:39,340
Is the IDA or the county?

79
00:08:40,720 --> 00:08:44,240
Going to identify another parcel of land.

80
00:08:44,240 --> 00:08:52,260
in the county where they could possibly create shuttle ready sites. I think some of that will depend on

81
00:08:53,500 --> 00:09:02,200
you know the sewer line is not yet operational on 66 but there are issues that if you're not

82
00:09:02,200 --> 00:09:07,060
in the commerce park and want to connect to that sewer line you're going to have to get approval

83
00:09:07,060 --> 00:09:13,980
from the green port town board because the green port town board included that in the agreement

84
00:09:13,980 --> 00:09:20,800
to accept the effluent from this Commerce Park at their wastewater facility when the

85
00:09:21,620 --> 00:09:26,680
sewer line was built. There's additional discussion of development

86
00:09:27,930 --> 00:09:39,600
at the corner of 9866 and we also, so I do think, you know, the broader issue that we need to

87
00:09:39,600 --> 00:09:44,440
to begin to think about is with only a couple of lots left in the Commerge Park where some

88
00:09:44,440 --> 00:09:50,300
people are still holding them for either their own use or speculation, we're really for

89
00:09:50,300 --> 00:09:57,080
all practical purposes out of sites in the Commerge Park. Those two or three parcel owners

90
00:09:57,080 --> 00:10:05,680
are not really motivated to do much but perhaps with the market value catching up to what they

91
00:10:05,680 --> 00:10:08,260
they have in it, they might be interested in someone.

92
00:10:08,720 --> 00:10:09,920
We have no recourse, I know.

93
00:10:10,640 --> 00:10:14,880
No, I think in the future, if you offered it

94
00:10:14,880 --> 00:10:16,780
at a discounted price to encourage

95
00:10:17,160 --> 00:10:18,740
or incentivize someone to build,

96
00:10:19,360 --> 00:10:21,520
the penalty mortgage might be that you take it back,

97
00:10:21,920 --> 00:10:25,600
not that you might give them three or four years to do it,

98
00:10:25,680 --> 00:10:29,120
but instead of putting it in the situation of people

99
00:10:29,120 --> 00:10:31,660
ending up with good intentions,

100
00:10:31,680 --> 00:10:34,220
but at the end, just speculating on land.

101
00:10:35,680 --> 00:10:52,600
You know, you might give them a $40,000 on a $90,000 piece and if they don't build on it in three years with a one-year extension for demonstrated purpose, you would take the plan back as opposed to just making the pace up.

102
00:10:52,600 --> 00:10:58,620
Well, I was just thinking that's about it, and that's part of the question I wanted to ask.

103
00:10:59,920 --> 00:11:08,320
Without COVID, we would have collected the money, and have turned it over to County.

104
00:11:09,120 --> 00:11:16,480
So, and then we would not have been getting interested on it because we do aren't interested

105
00:11:16,480 --> 00:11:21,900
on the land, and they have been paying, they did get a six-month deferral during COVID.

106
00:11:21,900 --> 00:11:25,880
but they both all these lots are that we still manage

107
00:11:25,880 --> 00:11:28,180
for the county or paying.

108
00:11:29,840 --> 00:11:31,620
Any questions on the Commerce Center?

109
00:11:35,810 --> 00:11:40,030
We have not received, but anticipate an IDA application

110
00:11:42,030 --> 00:11:45,410
from 178 Healing Associates, LLC.

111
00:11:46,770 --> 00:11:51,710
That is a development project in the town of Greenport.

112
00:11:52,710 --> 00:12:01,350
They are in the process of making application to their to the planning board and having discussions with the assessor.

113
00:12:01,890 --> 00:12:09,990
And so I had some indication that they might have had their application ready, but it'll be ready for your meeting in December.

114
00:12:12,350 --> 00:12:17,110
And basically that's all the information I have on that at this time.

115
00:12:17,110 --> 00:12:21,130
The next item is Clock Estates.

116
00:12:22,030 --> 00:12:29,510
As you know, we closed the Clock Estate IDA financing three or four weeks ago.

117
00:12:30,790 --> 00:12:36,890
At that time, we issued a sales tax exemption letter to the company.

118
00:12:37,990 --> 00:12:45,030
Hudson Russ on our behalf filed that notice that's required of that action

119
00:12:45,030 --> 00:12:49,170
to the state tax department and we have a meeting

120
00:12:49,170 --> 00:12:52,070
at one o'clock today with Mr. Fischkopf

121
00:12:52,070 --> 00:12:57,290
from Plata State's to discuss the reporting requirements

122
00:12:57,850 --> 00:13:02,310
related to as an IDEA.

123
00:13:03,270 --> 00:13:07,390
Lisa and I have been discussing the enhanced reporting

124
00:13:07,390 --> 00:13:13,890
requirements that the state is as begun to require

125
00:13:13,890 --> 00:13:24,920
with respect to IDA projects. We have identified a company in Rochester who

126
00:13:24,920 --> 00:13:33,920
services about 20 IDAs in connection with doing this work and they also provide

127
00:13:33,920 --> 00:13:43,660
tracking if there is a project labor agreement and on January 1st there will

128
00:13:43,660 --> 00:13:51,820
be a new law going into effect that will require any project that's over $5 million and that

129
00:13:51,820 --> 00:14:00,960
receives more than 30% benefit from government funding sources, whether federal low income,

130
00:14:01,380 --> 00:14:08,020
federal or state low income housing tax credits, historic tax credits, IBA benefits, they will

131
00:14:08,020 --> 00:14:15,000
be required to pay prevailing wage rates for the construction of their project, and they'll

132
00:14:15,000 --> 00:14:23,020
be required to report monthly. In addition, there are several downstate IDAs that also require

133
00:14:24,200 --> 00:14:32,400
certain employment for construction criteria, whether it be that the worker lives in a certain

134
00:14:32,400 --> 00:14:42,500
geographic area whether they have other relevant determined characteristics whether they

135
00:14:42,500 --> 00:14:52,520
be low income or diversity as well as requiring developers to take a wage higher than the

136
00:14:52,520 --> 00:14:53,480
the state minimum wage.

137
00:14:55,080 --> 00:14:59,840
The requirements to monitor that are far beyond our capacity with

138
00:15:00,000 --> 00:15:28,140
The number of projects we have, you're the New York City, IBA, the Westchester County, IBA, you can afford to have two or three staff people to do this monitoring and tracking. I have spoken with the director of the Ulster County, IBA, which is one of the Montgomery County, the Montgomery town, IBA and Orange County, and they use this consulting firm and have had some success. If you look on the back of the page that I sent,

139
00:15:28,140 --> 00:15:33,000
and I will get this to you Bill and Nina just came in this morning.

140
00:15:35,100 --> 00:15:44,960
For the monthly review and reporting and inspection related to tracking the prevailing

141
00:15:44,960 --> 00:15:51,960
wage issues for a project in the five to twenty five million dollar range, which is basically

142
00:15:51,960 --> 00:15:54,240
the ones that we would be involved in.

143
00:15:54,240 --> 00:16:04,280
And as you can see, there's a one-time $2,100 fee, there's a monthly fee of $17.55, and

144
00:16:04,280 --> 00:16:07,840
then there's a closeout fee.

145
00:16:08,420 --> 00:16:14,740
Right now, we don't have any projects in that category, and traditionally, any legal

146
00:16:14,740 --> 00:16:22,920
engineering survey, appraisal expense for an IDA project is passed on to the developer.

147
00:16:22,920 --> 00:16:35,500
For this point, our thought would be to get approval of up to $2,500 for the IDA.

148
00:16:35,660 --> 00:16:38,700
It's self-to-retain this company for guidance and advice.

149
00:16:39,420 --> 00:16:47,620
They have a fee schedule from $90 to $200 depending on the level of professional that we would

150
00:16:47,620 --> 00:16:50,260
be working with to help guide us.

151
00:16:52,540 --> 00:17:04,520
And then to the extent that we would retain them to do the sales tax tracking, we would pass that cost on to develop.

152
00:17:05,100 --> 00:17:05,860
What's that?

153
00:17:06,260 --> 00:17:07,400
Because it's a one-time fee.

154
00:17:07,680 --> 00:17:09,440
It's a monthly fee of $1,100.

155
00:17:10,320 --> 00:17:15,760
Based on a project of $5,000,000 to $25,000.

156
00:17:16,280 --> 00:17:24,940
Now what they have, and you said if we don't have any projects right now, but if we, if we did, it would be very fairly expensive.

157
00:17:25,840 --> 00:17:28,560
The $2,100 to

158
00:17:31,950 --> 00:17:42,930
set the program up. It would be $17, $55 monthly, and it would be $800. So it would be close to $25,000.

159
00:17:42,930 --> 00:17:54,170
it was a 12 to 18 month product, which in and of itself, even if you divide by two and a half

160
00:17:54,170 --> 00:18:02,310
thinking that the professional consulting firm has a two and a half multiple, we mean we'd

161
00:18:02,310 --> 00:18:10,130
be needed $10,000 staff time to do that work in-house. And it's not something we do regularly or that we

162
00:18:10,130 --> 00:18:21,670
have the volume to do to make it worth trying to set that program up in house. And you would have

163
00:18:21,670 --> 00:18:23,410
the developer pay for it anyway.

164
00:18:25,670 --> 00:18:30,210
Again, we don't have, we do have Mr. Fish Drop is coming in,

165
00:18:30,670 --> 00:18:35,630
calling in today on clock because he wants to know how we're going to handle the sales tax because

166
00:18:35,630 --> 00:18:41,630
he's starting to use the sales tax certificate. And so at the end of November, I don't have to look

167
00:18:41,630 --> 00:18:46,230
you know how many days after the end of the month you have to file with the tax

168
00:18:46,230 --> 00:18:52,150
department whether it's monthly, quarterly or whatever. You know I do think

169
00:18:52,150 --> 00:18:58,070
we need to at least approve the engagement of this firm with the

170
00:18:58,070 --> 00:19:02,930
understanding that to the extent that they're doing work on a specific project

171
00:19:02,930 --> 00:19:05,610
that that would be built separately to develop.

172
00:19:06,750 --> 00:19:09,430
What's going to go right through the two of us about that?

173
00:19:10,070 --> 00:19:12,390
So the clock is going to be how much all together?

174
00:19:12,850 --> 00:19:17,590
Well, it'd be $1,100 a month until they finish, so no.

175
00:19:17,630 --> 00:19:19,070
How many million is their project?

176
00:19:19,290 --> 00:19:20,250
Their million is $10 million.

177
00:19:20,710 --> 00:19:22,350
Their overall project is $10 million.

178
00:19:24,010 --> 00:19:31,730
We have found that there are very few IDA projects under $5 million because the added expense

179
00:19:31,730 --> 00:19:40,090
of the reporting, the added expense of the legal and IDA fees don't make it worthwhile, so.

180
00:19:40,910 --> 00:19:46,230
And so their clock will be looking at say another 25,000?

181
00:19:46,290 --> 00:19:55,890
No, well, I mean, I would think that clock can be done in six months and so, you know, it would be in

182
00:19:55,890 --> 00:19:57,630
In their case, I would guess it would be under 10.

183
00:19:58,850 --> 00:20:03,230
But if you're looking at, if you were looking at a,

184
00:20:06,740 --> 00:20:08,960
so you were looking at, in the city,

185
00:20:09,080 --> 00:20:11,360
if you looked at the two Galvan housing projects

186
00:20:11,360 --> 00:20:15,260
or 25 million dollar, one is 20 million and one is 15,

187
00:20:16,640 --> 00:20:23,520
I don't think you can build 150 apartments in 12 to 14 months

188
00:20:24,180 --> 00:20:27,080
depending on when you can get started weather-wise.

189
00:20:27,080 --> 00:20:38,720
So, you know, on a larger project that takes more than 12 months, you're looking at another added expense, which just makes it harder to justify going through the idea.

190
00:20:39,760 --> 00:20:45,660
Yeah. Like, what's the difference between the, there's, what's that there's two one-time fees, and then also two monthly fees.

191
00:20:46,360 --> 00:20:52,360
I'm looking at the top of the review and reporting inspection fee is 17.55 plus the one down below the sales tax credits.

192
00:20:52,420 --> 00:20:53,780
Right. It's a one-on-one.

193
00:20:53,780 --> 00:21:05,180
Well, if you were doing a, if you had to do a project that required prevailing weight

194
00:21:05,180 --> 00:21:13,020
rate documentation and you had a $5 million contract with a contractor and you divide

195
00:21:13,020 --> 00:21:20,520
that by a hundred people and you've got six months, yeah, you'd have all of that.

196
00:21:21,780 --> 00:21:23,860
Again, we

197
00:21:27,190 --> 00:21:34,710
have had some experience here with getting receipts from businesses and organizations

198
00:21:35,770 --> 00:21:45,970
that received project cuts in tourism grant awards and they come in with a box and I'm

199
00:21:45,970 --> 00:21:51,930
I'm sure it's like, you know, they come in with their, like, going out of your account

200
00:21:51,930 --> 00:21:55,290
and at the end of the year, they just give you this box and tell you, here's how we

201
00:21:55,290 --> 00:21:56,270
see, sort it out.

202
00:21:56,690 --> 00:22:05,310
And, you know, I just, again, I think when we see how this is done, we might determine

203
00:22:05,310 --> 00:22:14,070
that it's something we could do in-house, but the compliance and the, the, the, the regulates

204
00:22:14,070 --> 00:22:23,110
already risked to the IDA and CDC to be doing this to NOVO and not doing it right and having

205
00:22:23,110 --> 00:22:30,030
ourselves in the paper or having ourselves fined or I think the first project, we got

206
00:22:30,030 --> 00:22:38,710
to try this and see what's involved and you know if we do are able to pass it on to the developer,

207
00:22:38,710 --> 00:22:44,570
I don't like that. I mean, it's just another birth of costs. But when you look at these projects,

208
00:22:44,790 --> 00:22:48,270
some of them are getting three and four million dollars of benefits when you have the pilot payment.

209
00:22:50,410 --> 00:22:56,710
And you know, I do think that we would at least need to pay them to get this set up and to figure

210
00:22:56,710 --> 00:23:03,870
out how it works. Yeah, I think it's going to be a deterrent to projects again. It's another cost.

211
00:23:07,330 --> 00:23:12,530
But I don't think it's helpful to the IDA or to the developer or to see if you see as

212
00:23:12,530 --> 00:23:18,130
your administrator to try to do this in Ovo.

213
00:23:20,580 --> 00:23:21,640
No, I would say no.

214
00:23:21,880 --> 00:23:22,760
Too much work to do.

215
00:23:23,480 --> 00:23:28,240
Well, it's not, you know, we don't have the volume of it, so you can't develop the expertise.

216
00:23:28,940 --> 00:23:32,700
And you don't want to go out of the doctor that it only does one surgery a year.

217
00:23:32,700 --> 00:23:35,540
And then you're also dealing with a problem there.

218
00:23:39,710 --> 00:23:44,150
You've got to go to do this, you've got to be

219
00:23:44,150 --> 00:23:46,650
the developer, the chest to give you that information.

220
00:23:47,770 --> 00:23:50,270
It's not what we're going to have to go look at the physical.

221
00:23:50,390 --> 00:23:51,030
No, they're required.

222
00:23:51,290 --> 00:23:53,850
I mean, that's part of the built into the boiler plate

223
00:23:53,850 --> 00:23:55,650
of the IDA agreements, whether they

224
00:23:55,650 --> 00:23:59,750
read that or not to get that self-tax benefit.

225
00:24:00,590 --> 00:24:02,970
If what will happen is if they don't provide it,

226
00:24:03,050 --> 00:24:04,770
the state tax department will come and assess

227
00:24:12,010 --> 00:24:22,150
We're trying to encourage businesses, we're trying to help businesses.

228
00:24:23,310 --> 00:24:31,070
We did reduce it to CEDC side of the fee we would have been entitled to take on clock

229
00:24:31,890 --> 00:24:37,730
and Hudson Valley Creamery for their office of community renewal grant just

230
00:24:37,730 --> 00:24:41,250
because you know through COVID that's surprising these companies were able to

231
00:24:42,150 --> 00:24:45,850
stay on track and keep their development project viable.

232
00:24:48,920 --> 00:24:50,360
But I would like to

233
00:24:50,360 --> 00:24:55,740
at least have a $2,500 approval for us to be able because so will be cost setting

234
00:24:55,740 --> 00:25:00,580
this up and working with this consulting firm that initially we'll be able to

235
00:25:00,580 --> 00:25:01,660
passed on through the open.

236
00:25:02,800 --> 00:25:04,260
Just hit our budget.

237
00:25:05,100 --> 00:25:07,520
Well, you know, we don't have the budget,

238
00:25:07,540 --> 00:25:09,120
because it's not the end of the month.

239
00:25:09,560 --> 00:25:11,220
We do have the budget for next year,

240
00:25:11,680 --> 00:25:16,580
but, you know, I expect that we will have a $20 million

241
00:25:16,580 --> 00:25:20,100
project that will close next year.

242
00:25:20,780 --> 00:25:22,560
And that'll be a $200,000 fee.

243
00:25:23,620 --> 00:25:25,920
We have the balance of clock speed.

244
00:25:26,240 --> 00:25:29,180
We charge them a proportionate percentage.

245
00:25:29,180 --> 00:25:33,420
which based on the issuance of the sales tax certificate

246
00:25:33,420 --> 00:25:36,040
as opposed to the full fee,

247
00:25:36,160 --> 00:25:38,580
the balance will be due when they close on their financing.

248
00:25:40,640 --> 00:25:44,440
And so, you know, we'll have, you know,

249
00:25:44,660 --> 00:25:47,260
it's been five years since we did the WIC Hotel

250
00:25:47,260 --> 00:25:52,180
and six or seven since we did the solar project

251
00:25:52,180 --> 00:25:55,380
and received the fee for the DNJ warehouse

252
00:25:55,380 --> 00:25:56,320
that didn't go through.

253
00:25:57,280 --> 00:26:09,280
So, I do think that we're optimistic about the future projects, but again, I think we put a place saver,

254
00:26:10,440 --> 00:26:17,800
what you'll see in the budget for the, that we don't have in here, but the budget we approved at the last meeting for the APO,

255
00:26:18,200 --> 00:26:21,980
I think we put a place saver of a $50,000 fee in because you don't know.

256
00:26:21,980 --> 00:26:30,480
And so the budget is a budget and you know $50,000 fee would have been a $15 million project.

257
00:26:30,880 --> 00:26:36,340
And you know, we knew that we were going to have that with the balance of the clock.

258
00:26:37,640 --> 00:26:49,290
So we need a promotion to be brought, but would be, hey, I should go and on an hourly rate

259
00:26:49,290 --> 00:26:57,450
And I'll report each month this to how much we spent, but I don't expect that I would expect that would take us for a year, you know, it's not looking to

260
00:26:59,450 --> 00:27:03,270
Yeah, but just to up to 25 hundred dollars

261
00:27:03,910 --> 00:27:04,430
25

262
00:27:05,470 --> 00:27:05,990
Council

263
00:27:08,170 --> 00:27:08,690
Order

264
00:27:08,690 --> 00:27:10,690
Okay, so

265
00:27:11,490 --> 00:27:12,610
We need a motion

266
00:27:14,430 --> 00:27:15,810
I have second

267
00:27:20,630 --> 00:27:22,870
And the second, okay, roll those in favor.

268
00:27:23,290 --> 00:27:23,810
Hi.

269
00:27:24,850 --> 00:27:26,470
Oh, it's so carried.

270
00:27:28,700 --> 00:27:29,960
We didn't vote, but we can do it.

271
00:27:30,520 --> 00:27:33,580
I don't think we've voted on that till end of the county votes.

272
00:27:34,600 --> 00:27:36,980
What if the county decides not to transfer the land to us?

273
00:27:37,420 --> 00:27:38,440
Oh, same.

274
00:27:38,800 --> 00:27:38,900
Yeah.

275
00:27:39,320 --> 00:27:44,340
And I think it also gives anyone that wants to ask questions

276
00:27:44,340 --> 00:27:49,400
or have any comment or discussion about it, both from the board

277
00:27:49,400 --> 00:27:57,200
of the public an opportunity to weigh in, but we will have that on the agenda for the

278
00:27:59,950 --> 00:28:00,790
December meeting.

279
00:28:01,630 --> 00:28:08,870
The one thing about this state law that's going into effect, it will put a damper on

280
00:28:08,870 --> 00:28:13,250
IDA projects, although several contractors have told me that if you're building a $20 million

281
00:28:13,250 --> 00:28:17,490
dollar project, you're already paying for valiant wage or you're not getting workers.

282
00:28:18,970 --> 00:28:30,230
And so a qualified worker is a decent amount of term, but at the same time, there was

283
00:28:30,230 --> 00:28:39,370
supposed to be a board set up to create regulations and guidance on this because it says if your

284
00:28:39,370 --> 00:28:41,750
your construction project is more of that.

285
00:28:42,450 --> 00:28:45,690
Does your construction project mean just the cost of construction?

286
00:28:46,330 --> 00:28:50,330
Does it mean the total project cost, including your land?

287
00:28:50,990 --> 00:28:53,870
Does it include your interest during construction

288
00:28:53,870 --> 00:28:57,150
and your architectural and engineering work?

289
00:28:57,890 --> 00:29:01,010
And hopefully it includes everything

290
00:29:01,010 --> 00:29:05,470
because then the 30% test, if it's only on construction,

291
00:29:05,470 --> 00:29:15,490
They're going to be projects that will trigger the prevailing wage law requirements simply

292
00:29:15,490 --> 00:29:21,490
because of the pilot agreement, the sales tax exemption and the mortgage tax exemptions.

293
00:29:21,730 --> 00:29:28,190
Well, alone if they have historic tax credits or low income housing tax credits and it's

294
00:29:28,190 --> 00:29:37,330
It's also not clear whether it's 30% government incentives, do they include only state incentives

295
00:29:37,330 --> 00:29:39,370
or do they include state and federal incentives?

296
00:29:40,170 --> 00:29:48,050
So the way the legislation was drafted, you know, there's an industry-wide discussion

297
00:29:48,050 --> 00:29:50,650
of what is, because no one really knows what it means.

298
00:29:54,750 --> 00:29:59,770
I don't know that we have any public members but

299
00:30:02,840 --> 00:30:12,380
I would like to welcome our new council, Andy Howard, and we want to thank again to Goderman

300
00:30:12,380 --> 00:30:19,300
for his many years of service and he's working with us on transition and helping us wrap things

301
00:30:19,300 --> 00:30:22,840
up that we're very grateful to him for that courtesy and accommodation.

302
00:30:24,750 --> 00:30:26,170
Any other questions?

303
00:30:26,330 --> 00:30:27,570
Any other questions?

304
00:30:28,530 --> 00:30:30,230
For most, you need a motion.

305
00:30:30,650 --> 00:30:31,250
The motion is removed.

306
00:30:31,730 --> 00:30:32,010
Second?

307
00:30:32,170 --> 00:30:32,510
Second.

308
00:30:33,450 --> 00:30:34,970
Without objection to order.

309
00:30:35,150 --> 00:30:35,410
Awesome.

310
00:30:38,190 --> 00:30:39,270
Big care everybody.

311
00:30:40,130 --> 00:30:40,770
Thank you everyone.

312
00:30:41,050 --> 00:30:41,810
Thank you.

313
00:30:42,310 --> 00:30:42,850
Thank you.

314
00:30:47,610 --> 00:30:50,350
That's the way to turn this thing off to this district.

315
00:30:50,510 --> 00:30:50,990
Shut it off.

316
00:30:51,590 --> 00:30:52,190
I thought you were late.

317
00:30:52,350 --> 00:30:53,030
Thank you.

318
00:30:53,290 --> 00:30:54,570
You're in there.

319
00:30:56,190 --> 00:30:56,870
I'll find it.

320
00:30:56,870 --> 00:30:57,870
I'll find it.

321
00:30:58,230 --> 00:30:58,830
I'll find it.