TUESDAY, July 8, 2025
8:00 A.M - PLANNING DEPARTMENT CONFERENCE ROOM

I. MINUTES FROM JUNE 10, 2025 MEETING:

II. BUDGET REPORT:

III. COMMITTEE REPORTS:

IV. FULTON COUNTY/FCCRG /FMRCC REPORTS:

V. OLD BUSINESS:

A. Nexus Renewables:

B. T-Bills:

• Current T-Bills:

T-BILL # TERM RATE % EXPIRATION DATE
1 12 month 4.15% 11/28/25
2 9 month 3.923% 1/22/26
3 12 month 4.005% 5/14/26
4 6 month 4.11% 8/14/25

IDA DISCUSSION: Scott Henze stated that T-Bill 4 is due to expire in August and stated that he will have the updated rates for discussion during the August meeting.

C. Website Research Project

• Emery Designs contract has been executed.
• Executive Director attended a kickoff Zoom meeting with Betsy Emory on March 5, 2025 to discuss the execution of the project and to establish milestone dates.
• Emery Designs commenced the audit of IDA, CRG, FMRCC & FMSWS websites on Monday March 10, 2025.
• Expected to complete the audit of websites by May 31, 2025.
• Emery Designs and Executive Director commencing the development of a questionnaire for the Customer Development Interviews (CDI) along with a list of ten (10) potential interviewees per category (Economic Development, Workforce, Housing and Tourism).
• Received list of potential interviewees from the CRG and forwarded to Emery Designs.
• Emery Designs completed the audit of the CRG, IDA and Visitor Bureau websites. Currently working on Workforce Development.
• Emery Designs submitted a draft report "Unifying Economic Development & Tourism Web Experience Fulton County, NY" *See attached
• Updated CDI Interview list sent to Betsy Emory.
• Betsy Emory making contact to those on the list to see who is willing to participate in the interviews.

IDA DISCUSSION: Scott Henze stated that Emory Designs has commenced making contact with individuals that have been identified on the CDI list to see if they would be interested in participating in the project.

C. CITY OF JOHNSTOWN SENIOR HOUSING INITIATIVE:

a. Background:

• The City of Johnstown owns several parcels of land at the end of Prindle Avenue totaling 4.732+/- acres that include:

PARCEL
174.8-3-30
174.8-3-8
174.8-3-9
162.20-11-51

• The City of Johnstown recently amended the Zoning District for several of these properties from Public Use to Multi Family 1.
• The City of Johnstown Planning Board recently approved a 2-lot minor subdivision of lands of parcel 174.8-3-9 so that the Johnstown Community Center would be on its own lot.
• The City of Johnstown desires to have these properties developed into Senior Housing and is requesting that the IDA consider taking ownership of the properties in order to do so.
• In 2024, the City of Johnstown became the first municipality within Fulton County to be designated as a “Pro Housing” community under the State’s Pro Housing Communities Program.
• 5 Corners Development Corp. located in Saratoga Springs has expressed an interest in developing Senior Housing on the site.
• During the April 8, 2025 meeting, the IDA Board entertained a presentation by 5 Corners Development Corp. on developing Senior Housing on the Site.
• The IDA obtained an appraisal of the properties by Newmark Valuation & Advisory that included a Market Value in “As Is” condition at $50,000.
• During that meeting, the IDA Board discussed the transaction that would take place transferring the property from the City of Johnstown to the IDA and entering into an Option Agreement with 5 Corners Development to develop the property for Senior Housing.

b. Property Transfer from City of Johnstown to IDA:

• On April 21, 2025, the City of Johnstown adopted Resolution No. 42 of 2025 Authorizing to execute a contract with to convey city-owned property to the IDA for the purpose of affordable Senior Housing.
• A Bargain and Sale Deed has been provided to the IDA.
• Property Transfer Agreement has been signed by the City of Johnstown and is currently being signed by the IDA.

c. Option Agreement between 5 Corners Development and IDA:

• Option Agreement is being executed.

IDA DISCUSSION:

D. CITY OF JOHNSTOWN SENIOR HOUSING INITIATIVE:

a. Background:

• The City of Johnstown owns several parcels of land at the end of Prindle Avenue totaling 4.732+/- acres that include:

PARCEL
174.8-3-30
174.8-3-8
174.8-3-9
162.20-11-51

• The City of Johnstown recently amended the Zoning District for several of these properties from Public Use to Multi Family 1.
• The City of Johnstown Planning Board recently approved a 2-lot minor subdivision of lands of parcel 174.8-3-9 so that the Johnstown Community Center would be on its own lot.
• The City of Johnstown desires to have these properties developed into Senior Housing and is requesting that the IDA consider taking ownership of the properties in order to do so.
• In 2024, the City of Johnstown became the first municipality within Fulton County to be designated as a “Pro Housing” community under the State’s Pro Housing Communities Program.
• 5 Corners Development Corp. located in Saratoga Springs has expressed an interest in developing Senior Housing on the site.
• During the April 8, 2025 meeting, the IDA Board entertained a presentation by 5 Corners Development Corp. on developing Senior Housing on the Site.
• The IDA obtained an appraisal of the properties by Newmark Valuation & Advisory that included a Market Value in “As Is” condition at $50,000.
• During that meeting, the IDA Board discussed the transaction that would take place transferring the property from the City of Johnstown to the IDA and entering into an Option Agreement with 5 Corners Development to develop the property for Senior Housing.

b. Property Transfer from City of Johnstown to IDA:

• On April 21, 2025, the City of Johnstown adopted Resolution No. 42 of 2025 Authorizing to execute a contract with to convey city-owned property to the IDA for the purpose of affordable Senior Housing.
• A Bargain and Sale Deed has been provided to the IDA.
• Property Transfer Agreement has been signed by the City of Johnstown and by the IDA.

c. Option Agreement between 5 Corners Development and IDA:

• Option Agreement has been executed.

IDA DISCUSSION: Scott Henze stated that the Option Agreement with 5 Corners Development has been executed.

VI. NEW BUSINESS:

B. NYS EDC SUMMER IDA ACADEMY:

• To be held on July 29, 2025 at the downtown Ithaca Conference Center.
• Time: 9:00 a.m.-4:30 p.m.
• Registration Fee is $175.00
• Executive Director is requesting to attend the academy.

IDA DISCUSSION: Scott Henze reviewed the background information as identified within the background. He stated that he would like to attend and asked if there were any other Board members that would like to attend. Dave D’Amore stated that he highly encourages anyone that hasn’t attended to attend. Both Mike Fitzgerald and Greg Truckenmiller stated that they would like to attend as well.

MOTION: To authorize the $175.00 registration to the NYS EDC IDA Academy to allow the Executive Director to attend.

MADE BY: Sue Collins
SECONDED: Joe Semione
DISCUSSION: None
VOTE: Unanimous

VII. IDA TRAINING:

• Mr. Ken Adamczyk, Economic Development Specialist – FCCRG to present an overview of the Micro Enterprise Grant program.

IDA DISCUSSION: Scott Henze stated that during the June meeting, it was discussed to have Ken Adamczyk attend the IDA’s August meeting to provide an overview of the County’s MicroEnterprise Grant program. Ken Adamczyk presented a Powerpoint presentation on the MicroEnterprise Grant program (See attached). Dave D’Amore questioned what the grant awardees are spending the grant dollars on. Ken Adamzcyk stated that the participants develop a wishlist of items that they would like to have covered under the grant. He stated that he will then sit down with the participant and go over the list. He stated that they will typically buy equipment which makes sense. He stated that marketing materials also make sense particularly if the business is a startup. He stated that at times in may be leased space however that would need to make sense to request funding for that. He stated that its varies from business to business but the bottom line is, what do they need in order to make money and be successful. Dave D’Amore stated that it seems to be geared to equipment acquisitions that are typically a big upfront cost. Dave D’Amore referenced his previous private business venture stating that he did not believe that this opportunity was available at that time but if it was he would have taken advantage of it. Dave D’Amore questioned how do you know if the business is not spending it on payroll etc? Ken Adamczyk stated that each business has to provide copies of purchase orders, invoices or paid receipts. He stated that he will review the purchase order, invoices or paid receipts and then package that whereby the package will then go to Scott Henze for review and signoff and then Jon Stead. Once signed off, the package will go to the Stated and the money is typically released within 30 days. He stated that for startup business, at times will be provided with bridge loans due to the business not having the cash flow. Dan Rounds questioned whether or not a business can apply a second time for the funding. Ken Adamczyk stated that as long as they are creating one job and they have 5 or less total employees they can however the committee that reviews and recommends who to award to will take into consideration the other applicants proposals etc. Joe Semione stated that he is on the Committee that reviews the applications and indicated that the Committee really tries to be fair etc. Ken Adamczyk stated that the County program has become well known at this point.

VII. OTHER BUSINESS:
• Mr. Jon R Stead, Fulton County Administrative Officer, to discuss Fulton County’s Great Sacandaga Lake Discovery Center initiative.

IDA DISCUSSION: Scott Henze introduced Jon Stead. Jon Stead provided a powerpoint presentation of the Great Sacandaga Lake Discovery Center Display Visioning (See attached). He stated that when the Federal Government launched the American Rescue Plan Act (ARPA) funds coming off of the heels of the COVID-19 pandemic, Fulton County developed a Strategic Plan to utilize those dollars titled Destination Fulton County that provided funding to three (3) main projects; NYS Route 30/30A Regional Sewer project, “Field of Dreams” Parkhurst Field little league complex and the Great Sacandaga Lake Discovery Center. He stated that rather than using the funds for one-off projects, Fulton County dedicated the funds to projects that will provide long range funding to support the local economy for many years to come. He stated that Fulton County has shifted focus to Tourism growth. Jon Stead discussed the review of the Great Sacandaga Lake Discovery Center project that was undertaken by the Adirondack Park Agency and NYS Department of Transportation referencing significant added costs to the project based upon the review. Jon Stead indicated that in 2024, the County awarded a Phase I Site Construction contract to Miller Excavating for $1,014,750 who commenced work in early spring of 2025. Jon Stead the Great Sacandaga Lake Discovery Center Financial Plan dated 7/2025 with the Board noting that based upon the Phase II bids received totaling $5,664,711 along with an additional contingency of $400,000, deducting additional monies set aside by the County for the project totaling $2,534,500 there remains a funding gap of $3,280,711 that the County needs to close in order for the project to move forward. Mr. Stead noted that all of the interior exhibit design and construction will be paid for through the County’s established Occupancy Tax Reserve account. Mr. Stead noted that the County is requesting that the IDA step in and contribute to the project initiative to close the funding gap. He noted that in the past, Jim Mraz expressed interest in providing funding back to the County to pay the County back for all of the investment that has been made into Tryon. He stated that however at that time, the IDA was still working on projects at Tryon and would need funds in order to complete them. He stated that at that time, rather than providing the County with some dollars to then three (3) months later come back to the County requesting additional dollars for the next investment into Tryon, it was agreed that the IDA should not provide dollars to the County at that point. Jon Stead stated that in discussion with Scott Henze, the current financial status of the IDA is healthy and noted that with the new water bottling project coming into Tryon, the dollars that the IDA will be taking in via the lot sale and application fees etc, the County is requesting that the IDA take the proceeds from that project and dedicate them back to the County in order to complete the Destination Fulton County initiative of the Great Sacandaga Lake Discovery Center project. He stated that with those proceeds, he feels strongly that the County can close the budget gap for the project to commence. Jon Stead stated that he understands that this request is a big ask however noted that it was always the assumption that the IDA would pay back the County for the dollars invested into Tryon. Jon Stead stated that the County put just over $4.1M dollars into Tryon with the IDA’s partnership.
Greg Truckenmiller stated that the IDA is very positive about the water bottling project however it could take many months for the conclusion of the project and any dollars provided to the IDA. He asked how that timing works with the County’s schedule. Jon Stead noted that he believes that a written agreement to provide the funding between the County and IDA would be acceptable in order to keep the project moving forward. Scott Henze stated that he spoke to Adam Winstanley who felt as though the closing on the property would occur in March or April of 2026. He stated that the County does have some funds that would most likely be enough to cover the costs of the contractors through the end of the year or longer. Jon Stead stated that he believes that the dollars from the IDA would be acceptable to be provided in the first part of 2026. Greg Truckenmiller questioned whether or not the County was looking to award the construction contracts at the next Board of Supervisors meeting (July 14). Jon Stead noted that certainly if the IDA were to provide a written agreement to provide the funding he believes that the County would move forward with the award of the contracts. Scott Henze noted that the project received many bids for each trade noting that the General Construction component received around twelve bids. Jon Stead noted that the bids that were received was the best showing of quality contractors that he has experienced in thirty (30) years. Mike Fitzgerald asked if there were any local bidders. Jon Stead indicated that there were not any local bidders for the building construction however there were many for the Phase I Site Excavation bid. Mike Fitzgerald questioned whether or not the contracts would be a maximum not to exceed contract. Jon Stead noted that they are however they have contingency allowances built into each of them. Joe Semione asked whether or not there will be an admission fee to enter the facility. Jon Stead stated that the idea at the moment is to not charge an admission at first, but later as things progress there would most likely be a nominal admission fee. Jon Stead stated that when the initiative began and the County was looking for sites, there were three (3) criteria. He stated that the site needed to be on a NYS highway, either be on the lake or have a view of the lake and needed to be within walking distance to a walkable downtown. He stated that since the site was chosen, there have been many new ideas that have evolved to include the re-routing of the nearby Northville-Lake Placid Trail onto the property.

Greg Truckenmiller asked whether or not a motion needs to be made. Scott Henze stated that in order for the IDA to entertain the request, the presentation needed to be made in open session. He stated that if the IDA would like to move forward, the IDA will need to make the finding that the Great Sacandaga Lake Discovery Center initiative is a positive tourism driver for Fulton County and that the IDA has amended the UTEP to include Tourism etc. Kara Lais stated that in order to meet the ABO requirements, the IDA will need to have an agreement in place with the County and that if the IDA would like to move forward, then authorization to develop the agreement with the County be made. She stated that the IDA is prohibited from providing gifts etc. Kara Lais stated that she mentioned to Scott Henze that a draft agreement be in place for IDA consideration. Jon Stead stated that the County typically will take a vote and direct the County Attorney to draft the required language in order for the Chairman to sign off on. Kara Lais stated that typically her recommendation is to have the agreement in place for consideration with the specific parameters etc. if the Board wanted to move forward in that fashion then you can do so.

IX. Executive Session:

X. NEXT MEETING:

XI.. CLOSE MEETING: