Town of Hempstead
LOCAL DEVELOPMENT CORPORATION 
BOARD MEETING
October 26, 2017 10:00 AM
Town Hall Pavilion, 1 Washington Street, Hempstead

Agenda:  Consideration and Adoption of the Audit Committee Charter, Consideration and Adoption of the  Governance Committee Charter, Consideration and Adoption of the Financial/Investment Committee Charter, Adoption of a Resolution Appointing the LDC Procurement Officer, Consideration and Approval of the Minutes of September 28, 2017, Consideration and Adoption of the 2018 LDC Budget, Consideration and Adoption of the 4-Year Financial Plan , Financial Statements & Expenditure List September 22, 2017 – October 19, 2017

Those in attendance: 	   Arthur Nastre, Chairman
                                       Flo Girardi, Treasurer     
                                       Eric C. Mallette, Secretary  
                                       John Ferretti, Member
                                       Gerilyn Smith, Member

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

                                                                         

The Meeting was called to order at 10:00 a.m.       
The Chairman has acknowledged a quorum was present. 

Consideration and Adoption of the Audit Committee Charter: A motion was made by John Ferretti to adopt the Audit Committee Charter. This motion was seconded by Flo Girardi. All were in favor. Motion carried. 

Consideration and Adoption of the Governance Committee Charter: A motion was made by Flo Girardi to adopt the Governance Committee Charter. This motion was seconded by John Ferretti. All were in favor. Motion carried.

Consideration and Adoption of the Financial/Investment Committee Charter: A motion was made by Eric Mallette to adopt the Financial/Investment Committee Charter. This motion was seconded by John Ferretti. All were in favor. Motion carried.

Adoption of a Resolution Appointing the LDC Procurement Officer: Flo Girardi made a motion to adopt a resolution appointing Frederick E. Parola as the LDC Procurement Officer. This motion was seconded by Gerilyn Smith. All were in favor. Motion carried.

Minutes of the September 28, 2017 Meeting: A motion was made by John Ferretti to adopt the minutes of the September 28, 2017 meeting. This motion was seconded by Flo Girardi. All were in favor. Motion carried.

Consideration and Adoption of the 2017 LDC Budget: A motion was made by Flo Girardi to adopt the 2017 LDC Budget as presented. This motion was seconded by Gerilyn Smith. All were in favor. 
Motion carried.

Consideration and Adoption of the 4-Year Financial Plan: A motion was made by John Ferretti to adopt the 4-Year Financial Plan. This motion was seconded by Flo Girardi. 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, 2017 – October 19, 2017.

With all business concluded, Flo Girardi made a motion to adjourn the meeting at 10:05 a.m.  This motion was seconded by John Ferretti.  All were in favor.  Motion carried.

________________________________________
Eric C. Mallette, Secretary
November 16, 2017