Town of Hempstead
LOCAL DEVELOPMENT CORPORATION
January 24, 2019 10:00 AM
Pavilion, 1 Washington Street Hempstead, New York
ANNUAL ORGANIZATIONAL MEETING

Agenda:  Presentation and Adoption of an Inducement Resolution for Circulo De La Hispanidad, Consideration of a Resolution to Appoint LDC Committee Members, Consideration of a Resolution to appoint the LDC Officers of the Board, Consideration of a Resolution to appoint the LDC Bond/Transaction Counsel, Consideration of a Resolution to appoint the LDC Corporation Counsel, Consideration and Adoption of the Construction Wage Policy, Consideration of a Ratifying and Confirming Resolution to Authorize Budget Line Transfers of the 2018 Budget, Disperse Evaluation Forms from last Meeting, Consideration and Approval of the December 20, 2018 Minutes, Financial Statements and Expenditure List: December 14,2018-January 17,2019

Those in attendance: 	  Florestano Girardi, Chairman
                                      James G. Marsh, Esq. Vice Chairman
                                      Eric C. Mallette, Secretary  
                                      John A. Ardito, Esq. Member

                                        
Also in attendance:       Frederick E. Parola, CEO	
                                      Edie M. Longo, CFO
                                      Michael Lodato, Corporate Administrator    
                                      William Weir, Nixon Peabody, Transaction Counsel
                                      John E. Ryan, Corporation Counsel            
                                                                         
Excused:                        Gerilyn Smith, Treasurer     

                                      

                                                                                                                           
The Meeting was called to order at 10:13 a.m.       
The Chairman confirmed a quorum was present. 

Presentation and Adoption of an Inducement Resolution for Circulo De La Hispanidad: 
A presentation was made by Dylan Saperman, Counsel to Circulo De La Hispanidad, describing the current financial condition of the bonds including the default and refunding of 12,300,000.00 in tax exempt bonds. After extensive questioning by the Board a motion was made by Florestano Girardi to adopt an Inducement Resolution for Circulo De La Hispanidad. This motion was seconded by James Marsh. All were in favor. Motion carried.

Consideration of a Resolution appointing the LDC Committee Members: 
A motion was made by Florestano Girardi to adopt a resolution appointing the LDC Committee Members. This motion was seconded by James Marsh. All were in favor. Motion carried.

Consideration of a Resolution appointing the LDC Officers of the Board: 
A motion was made by Eric Mallette to adopt a resolution appointing the LDC Officers of the Board. The Officers are: Florestano Girardi as Chairman, James Marsh as Vice Chairman, Gerilyn Smith as Treasurer, and Eric Mallette as Secretary. This motion was seconded by Florestano Girardi. All were in favor. Motion carried.

Consideration of a Resolution appointing the LDC Bond/Transaction Counsel: 
This item has been tabled until the February Meeting.

Consideration of a Resolution appointing the LDC Corporation Counsel: 
This item has been tabled until the February Meeting.

Consideration of a Resolution to re-adopt the Construction Wage Policy: 
A motion was made by James Marsh to re-adopt the Construction Wage Policy for 2019. This motion was seconded by Florestano Girardi. Mr. Marsh requested Staff to meet with Union officials in the future to discuss our wage policy. All were in favor. Motion carried.

Consideration of a Ratifying and Confirming Resolution to authorize Budget Line Transfers for the 2018 Budget: 
A motion was made by Florestano Girardi to adopt a resolution authorizing LDC Budget Line Transfers for 2018. This motion was seconded by Eric Mallette. All were in favor. Motion carried.

Minutes of the December 20, 2018 Meeting: A motion was made by James Marsh to adopt the minutes of the December 20, 2018 meeting. This motion was seconded by Florestano 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 December 14, 2018 – January 17, 2019.

With all business concluded James Marsh made a motion to adjourn the meeting at 10:33 a.m.  This motion was seconded by Florestano Girardi.  All were in favor.  Motion carried. 

________________________________________
Eric Mallette, Secretary, February 28, 2019