Town of Hempstead
LOCAL DEVELOPMENT CORPORATION
October 22, 2020 10:00 AM
Town Pavilion 
1 Washington Street, Hempstead, NY
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 Adoption of the Conflict of Interest Policy, Consideration and Adoption of a Resolution to work in conjunction with Pursuit Lending for the Small Business Assistance Program, Consideration and approval of the minutes of the September 24, 2020, Adoption of the 4-Year Financial Plan, Adoption of the LDC 2021 Budget, Financial Statements & Expenditure List September 18, 2020 – October 14, 2020

Those in attendance:    Florestano Girardi, Chairman
                                      James G. Marsh, Esq. Vice Chairman
                                      Eric C. Mallette, Treasurer
                                      Jack Majkut, Secretary 
                                      Robert Bedford, Member
                                      Cherice Vanderhall, Member

                                        
Also in attendance:       Frederick E. Parola, CEO	
                                      Edie M. Longo, CFO
                                      Michael Lodato, Corporate Administrator
                                      John E. Ryan, Corporation Counsel            
                                      Paul O’ Brien, Bond/Transaction Counsel            

                                                                         
Excused:                       

The Meeting was called to order at 10:09 a.m.       
The Chairman confirmed a quorum was present. 

Consideration and Adoption of the Audit Committee Charter: A motion was made by James Marsh 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 James Marsh to re-adopt the Governance Committee Charter as approved by the Committee. This motion was seconded by Cherice Vanderhall. All were in favor. Motion carried.

Consideration and Adoption of the Financial/Investment Committee Charter: A motion was made by Eric Mallette to re-adopt the Financial/Investment Committee Charter as approved by the Committee. This motion was seconded by Florestano Girardi. 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 Cherice Vanderhall. James Marsh Abstained. Motion carried.

Consideration and Adoption of the Conflict of Interest Policy: A motion was made by Eric Mallette to re-adopt the Conflict of Interest Policy as approved by the Governance Committee. This motion was seconded by Cherice Vanderhall. All were in favor. Motion carried.

Consideration and Adoption of a Resolution to work in conjunction with Pursuit Lending for the Small Business Assistance Program/Revolving Loan Program: A motion was made by James Marsh table the resolution to gather further information on the program. This motion was seconded by Florestano Girardi. All were in favor. Motion carried.

Minutes of the September 24, 2020 Meeting: A motion was made by Florestano Girardi to adopt the minutes of the September 24, 2020 meeting. This motion was seconded by Cherice Vanderhall. 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 to be submitted  to the ABO. This motion was seconded by Cherice Vanderhal.  James Marsh Abstained. Motion carried.

Consideration and Adoption of the 2021 LDC Budget: A motion was made by Cherice Vanderhall to adopt the 2021 LDC Budget as presented. This motion was seconded by Florestano Girardi. James Marsh abstained. Motion carried.

Financial Statements & Expenditure Report: The Board was furnished with a copy of the Financial Statements and Expenditure List for September 18, 2020 – October 14, 2020

With all business concluded Florestano Girardi made a motion to adjourn the meeting at 9:40 a.m.  This motion was seconded by James Marsh.  All were in favor.  Motion carried.

________________________________________
Jack Majkut, Secretary, November 19, 2020