Town of Hempstead
LOCAL DEVELOPMENT CORPORATION
October 23, 2019 10:00 AM
Old Courtroom, 350 Front Street, Hempstead
BOARD MEETING

Agenda:   Consideration and Adoption of the Audit Committee Charter, Consideration and Adoption of the Governance Committee Charter, Consideration and Adoption of the Finance/Investment Committee Charter, Consideration and Adoption of a Resolution appointing the LDC Procurement Officer, Consideration and approval of the minutes of the September 18, 2019, Adoption of the 4-Year Financial Plan, Adoption of the LDC 2020 Budget, Financial Statements & Expenditure List September 12, 2019 – October 17, 2019

Those in attendance:    Florestano Girardi, Chairman
                                      Eric C. Mallette, Secretary
                                      John A. Ardito, Esq. Member
                                      Jack Majkut, Member    

                                        
Also in attendance:       Frederick E. Parola, CEO	
                                      Edie M. Longo, CFO
                                      Michael Lodato, Corporate Administrator
                                      Barry Carrigan, Nixon Peabody, Transaction Counsel
                                      John E. Ryan, Corporation Counsel            

                                                                         
Excused:                       James G. Marsh, Esq. Vice Chairman
                                     Gerilyn Smith, Treasurer     
                                    William Weir, Nixon Peabody, Transaction Counsel

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

Consideration and Adoption of the Audit Committee Charter: A motion was made by Eric Mallette to re-adopt the Audit Committee Charter as approved by the Committee. This motion was seconded by Florestano Girardi. All were in favor. Motion carried. 

Consideration and Adoption of the Governance Committee Charter: A motion was made by Florestano Girardi to re-adopt the Governance Committee Charter as approved by the Committee. This motion was seconded by John Ardito. All were in favor. Motion carried.

Consideration and Adoption of the Financial/Investment Committee Charter: A motion was made by Florestano Girardi to re-adopt the Financial/Investment Committee Charter as approved by the Committee. This motion was seconded by John Ardito. All were in favor. Motion carried.

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

Minutes of the September 18, 2019 Meeting: A motion was made by Florestano Girardi to adopt the minutes of the September 18, 2019 meeting. This motion was seconded by John Ardito. All were in favor. Motion carried.

Consideration and Adoption of the 4-Year Financial Plan: A motion was made by Florestano Girardi to adopt the 4-Year Financial Plan. This motion was seconded by Eric Mallette. All were in favor. Motion carried.

Consideration and Adoption of the 2020 LDC Budget: A motion was made by Florestano Girardi to adopt the 2020 LDC Budget as presented. This motion was seconded by John Ardito. 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 12, 2019 – October 17, 2019

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

________________________________________
Eric Mallette, Secretary, November 21, 2019