Town of Hempstead
LOCAL DEVELOPMENT CORPORATION MEETING
February 16, 2017 10:55 AM
Old Courtroom, Town hall
350 Front Street, Hempstead

Agenda:  Consideration of a Resolution to appoint the LDC Officers for 2017, Consideration of a Resolution appointing the LDC Committee Members, Consideration of a Resolution appointing the LDC Bond/Transaction Counsel, Consideration of a Resolution appointing the LDC Corporation Counsel, Consideration and Adoption of the Construction Wage Policy, Consideration of a Resolution to authorize a transfer from the Corporation’s Fund Balance,  Consideration of a Banking Resolution for Bank of America (Change of Treasurer), Consideration and Approval of the Minutes of December 21, 2016, Financial Statements and Expenditure List: December 16, 2016  – January 19, 2017.

Those in attendance: 	  Arthur J. Nastre, Chairman
                                        William Hendrick, Vice Chairman
                                        Eric C. Mallette, Secretary
                                        John Ferretti, Member
                                        Steven Raiser, Member

                                        
Also in attendance:       Frederick E. Parola, Executive Director/CEO	
                                      Michael Lodato, Deputy Agency Administrator    
                                      Edie M. Longo, Deputy Executive Director/CFO
                                      William Weir, Nixon Peabody, Transaction Counsel
                                      John E. Ryan, Corporation Counsel            
                                                                         
Excused:                        Florestano Girardi, Treasurer    

                                      

                                                                                                                           
The Meeting was called to order at 10:55 a.m.       
The Chairman confirmed a quorum was present. 

2016 Compliance Review: 
The Board was furnished with a copy of the current Compliance for the 2016 State Report. We are on schedule to meet the State Reporting deadline. 

Board Member Confidential Evaluation Form Summary: 
The Board was furnished with a copy of the Confidential Evaluation Form Summary.

Minutes of the January 26, 2017 Meeting: A motion was made by Steve Raiser to adopt the minutes of the January 26, 2017 meeting. This motion was seconded by William Hendrick. 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 January 20, 2017 – February 9, 2017.

GOVERNANCE COMMITTEE:
Committee Consideration of the Following
•	Mission Statement and Measurement Report
•	Self-Evaluation Policy		
•	Property Disposition		
•	Code of Ethics			
•	Operations and Accomplishments for 2016
•	Purchasing Guidelines		
•	Standard Project Procedures

The Board was furnished with each of the Policies. The Board reviewed them and they will be presented at the March Board Meeting for Adoption.

With all business concluded William Hendrick made a motion to adjourn the meeting at 11:05 a.m.  This motion was seconded by Steve Raiser.  All were in favor.  Motion carried. 

________________________________________
Eric C. Mallette, Secretary, March 30, 2017