Town of Hempstead
LOCAL DEVELOPMENT CORPORATION MEETING
October 28, 2016 10:00 AM
Courtroom, 350 Front Street, Hempstead

Agenda:  Consideration and Adoption of the Audit Committee Charter, Consideration and Adoption of the  Governance Committee Charter, Consideration and Adoption of the 4-Year Financial Plan, Consideration and Adoption of the Financial/Investment Committee Charter, Adoption of a Resolution Appointing the LDC Procurement Officer, Consideration of a Resolution supporting the Hofstra 2016/2017 Distinguished Lecture Series, Consideration and Adoption of an amended LDC Fee Schedule, Consideration and Approval of the Minutes of September 28, 2016, Consideration and Adoption of the 2017 LDC Budget, Financial Statements & Expenditure List September 22, 2016 – October 19, 2016

Those in attendance: 	   Ted Sasso, Chairman
                                       Ari Brown, Vice Chairman
                                       Jonathan Kohan, Treasurer       
                                       Dan Grodotzke, Member
                                       Ann DeMichael, Member

                                        
Also in attendance:       Frederick E. Parola, Executive Director/CEO	
                                      Edie M. Longo, Deputy Executive Director/CFO	                    
                                      Administrator    
                                      William F. Weir, Nixon Peabody, Transaction Counsel
                                      John E. Ryan, Corporation Counsel                                     

                                                                         
Excused:                       Cheryl Petri, Secretary
                                      Michael Lodato, Deputy Agency

The Meeting was called to order at 11:47 a.m.       
The Chairman has acknowledged a quorum was present. 

Consideration and Adoption of the Audit Committee Charter: A motion was made by Ted Sasso to adopt the Audit Committee Charter. This motion was seconded by Ari Brown. All were in favor. Motion carried. 

Consideration and Adoption of the Governance Committee Charter: A motion was made by Ted Sasso to adopt the Governance Committee Charter. This motion was seconded by Dan Grodotzke. All were in favor. Motion carried.

Consideration and Adoption of the 4-Year Financial Plan: A motion was made by Ted Sasso to adopt the 4-Year Financial Plan. This motion was seconded by Dan Grodotzke. All were in favor. Motion carried.

Consideration and Adoption of the Financial/Investment Committee Charter: A motion was made by Jonathan Kohan to adopt the Financial/Investment Committee Charter. This motion was seconded by Ann DeMichael. All were in favor. Motion carried.

Adoption of a Resolution Appointing the LDC Procurement Officer: Ted Sasso made a motion to adopt a resolution appointing Frederick E. Parola as the LDC Procurement Officer. This motion was seconded by Ari Brown. All were in favor. Motion carried.

Consideration of a Resolution supporting the Hofstra 2016/2017 Distinguished Lecture Series:  This item has been tabled until the next Board Meeting.

Consideration and Adoption an amended LDC Fee Schedule: A motion was made by Ted Sasso to adopt an amended LDC Fee Schedule. This motion was seconded by Dan Grodotzke. All were in favor. Motion carried.

Minutes of the September 28, 2016 Meeting: A motion was made by Ted Sasso to adopt the minutes of the September 28, 2016 meeting. This motion was seconded by Dan Grodotzke. All were in favor. Motion carried.

Consideration and Adoption of the 2017 LDC Budget: A motion was made by Jonathan Kohan to adopt the 2017 LDC Budget as presented. This motion was seconded by Ann DeMichael. All were in favor. Motion carried.

Financial Statements & Expenditure Report: The Board was furnished with a copy of the Financial Statements and Expenditure List for September 22, 2016 – October 19, 2016.

With all business concluded, Ari Brown made a motion to adjourn the meeting at 11:53 a.m.  This motion was seconded by Ann DeMichael.  All were in favor.  Motion carried.

________________________________________
Arthur J. Nastre, Chairman
December 8, 2016