PRESENT:

­­­JOE GILLIS, FINANCE COMMITTEE
DAN ROUNDS, FINANCE COMMITTEE
MIKE FITZGERALD, FINANCE COMMITTEE
SCOTT D. HENZE, EXECUTIVE DIRECTOR

OTHERS:

IDA’S MISSION:

“The Fulton County IDA’s mission is to drive economic growth and prosperity by preparing shovel-ready sites for development including commercial enterprise, diverse housing options, workforce development and tourism”.

 Scott Henze read the IDA Mission Statement aloud.

• Executive Director prepared and submitted NYS ESD FastNY Track C grant for various infrastructure improvements at Tryon Technology Park to include:

1. Water System Improvements: $1,083,125.00
2. Wastewater System Improvements: $   500,000.00
3. Soils Cut/Fill: $8,412,000.00

TOTAL:                                             $9,995,125.00

• Engineering estimates were provided for each project and used as the basis of the grant application.
• NYS FAST NY Tract C grants will not fund contingencies.
• On December 12, 2025, NYS ESD notified the IDA that it was awarded $8.99M.
• To date, the IDA has not received the Grant Distribution Agreement.
• The Grant Distribution Agreement will identify the MWBE & Veterans % requirements as well as reimbursement parameters.
• Per the Grant Guidelines, the IDA will be required to provide a 10% equity match or approximately $899,000.
• The IDA can assume reimbursable costs associated with the three (3) project improvements as of the date of the announcement.

FINANCE COMMITTEE DISCUSSION: Scott Henze reviewed the background information as identified within the agenda with the Finance Committee. Scott Henze stated that he has a meeting with ESD representatives today to question when the IDA would receive the Gran Distribution Agreement as well as whether or not it would be possible for the grant to provide progress reimbursement payments.

IDA ACTION:

MOTION:          To go into a Closed Session with counsel for attorney-client discussion.

MADE BY:        Dan Rounds
SECONDED:     Joe Gillis
DISCUSSION:  None
VOTE  :              Unanimous
TIME  :              8:10 a.m.
MOTION:          To go out of Closed Session.

MADE BY:        Mike Fitzgerald
SECONDED:     Dan Rounds
DISCUSSION:  None
VOTE:                Unanimous
TIME:                9:15 a.m.

MOTION:       To close the meeting at 9:18 a.m.

MADE BY:     Joe Gillis
SECONDED:  Dan Rounds
DISCUSSION: None
VOTE:            Unanimous