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BABYLON INDUSTRIAL DEVELOPMENT AGENCY IDA/IDC MEETING AUGUST 16, 2011 PRESENT: RAMON ACCETTELLA, JR. WILLIAM BOGARDT CHRIS FERENCSIK PAULETTE MOSES SANDRA THOMAS JOHN SHEPARD ALSO PRESENT: ROBERT STRICOFF, CEO JOHN BRASLOW, ESQ. MARIA TRUPIA, BOARD SECRETARY EXCUSED ABSENCE: PATRICK HALPIN ROSEMARIE DEARING Meeting was called to order at 12:10 p.m. Motion was made by William Bogardt and seconded by Paulette Moses to accept the Minutes from the July 12, 2011, IDA/IDC Board Meeting. All in favor, motion carried. Motion was made by Chris Ferencsik and seconded by William Bogardt to accept the Minutes from the August 4, 2011, Public Hearing for NBTY,Inc. All in favor, motion carried. Motion was made by Paulette Moses and seconded by John Shepard to accept the Minutes from the February 15, 2011, Public Hearing for Jesco, Inc. All in favor, motion carried. Motion was made by Chris Ferencsik and seconded by John Shepard to accept the Minutes from the August 15, 2011, Public Hearing for Bellco Drug Corp. All in favor, motion carried. Motion was made by William Bogardt and seconded by Paulette Moses to adopt a Resolution permitting a five-year sublease between JMDH Real Estate of Babylon, LLC and KSI Trading Corp., d/b/a Crash and Rust located at 1966 Broad Hollow Road, East Farmingdale, New York 11735 (SCTM# 0100 033.00 01.00 012.000). The Crash and Rust sublease covers approximately 71,072 square feet of warehouse space. A discussion ensued with Counsel. All in favor, motion carried. Motion was made by Chris Ferencsik and seconded by Sandra Thomas to adopt a Resolution giving preliminary approval of the Town of Babylon Industrial Development Agency to grant certain financial assistance to Piping Rock Health Products, LLC and 51 Executive Realty, LLC. A discussion ensued. All in favor, motion carried. Motion was made by Sandra Thomas and seconded by William Bogardt to adopt a Resolution granting approval of and authorizing the grant of certain financial assistance by the Town of Babylon Industrial Development Agency to New Measures, LLC and NBTY, Inc. in connection with the acquisition, renovation and equipping by New Measures, LLC of an office, manufacturing and warehouse facility in the Town of Babylon. A discussion ensued wherein renovations, employment and history of company were discussed. All in favor, motion carried. Motion was made by Chris Ferencsik and seconded by Paulette Moses to adopt a Resolution authorizing the execution of mortgage and modification agreement in connection with Jaser Realty LLC and the Fragrancenet.Com, Inc. project. A discussion ensued. All in favor, motion carried. Motion was made by John Shepard and seconded by Paulette Moses to adopt a Resolution granting approval of and authorizing the grant of certain financial assistance by the Town of Babylon Industrial Development Agency to Bellco Drug Corp. in connection with the leasing, renovation, re-equipping and potential expansion of a manufacturing, warehouse and distribution facility in the Town of Babylon. A discussion regarding employment, lease terms and history of company ensued. All in favor, motion carried. Motion was made by William Bogardt and seconded by Sandra Thomas to adopt a Resolution authorizing the execution of a company lease agreement by the Agency with respect to the Massapequa Imports project. A discussion ensued with Counsel. All in favor, motion carried. Motion was made by Chris Ferencsik and seconded by John Shepard to adopt a Resolution granting approval of and authorizing the grant of certain financial assistance by the Town of Babylon Industrial Development Agency to Orlandi, Inc., in connection with the acquisition, renovation and equipping of an office, manufacturing, laboratory and warehouse facility in the Town of Babylon A discussion ensued wherein employment and job retention were discussed, as well as the locations of this company. All in favor, motion carried. Motion was made by Chris Ferencsik and seconded by Sandra Thomas to adopt a Resolution authorizing the Chief Executive Officer to enter into negotiations with Seigerman’s Furniture Showplace, LLC regarding any possible “claw-back” of benefits paid to the Agency. All in favor, motion carried. Chief Executive Officer’s Report: Robert Stricoff informed the Board there will be a few closing in the near future. He further informed the Board that he will be reviewing the budget at the next meeting. Old Business: No Old Business New Business: No New Business Adjournment: There being no further business to come before the Board, a motion to close was made by William Bogardt and seconded by Chris Ferencsik.