IDA PRESENT:

SUE COLLINS, CHAIRMAN
DR. GREG TRUCKENMILLER, VICE CHAIRMAN
MIKE FITZGERALD, TREASURER
JOSEPH SEMIONE, MEMBER
DAVID D’AMORE, MEMBER
JOE GILLIS, MEMBER
KARA LAIS, FITZGERALD, MORRIS, BAKER, FIRTH PC (VIA ZOOM)
SCOTT HENZE, EXECUTIVE DIRECTOR

OTHERS PRESENT:
TOM ROEHL, LIASON ECONOMIC DEVELOPMENT&ENVIRONMENT COMMITTEE
DENIS WILSON, FCCRG
TRAVIS MITCHELL, ENVIRONMENTAL DESIGN PARTNERSHIP

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”.

MOTION: To approve the minutes to the May 12, 2026 meeting.
MADE BY      :  Joe Semione
SECONDED   :  Sue Collins
DISCUSSION:  None
VOTE              :  Unanimous

MOTION :   To approve the budget report as presented.
MADE BY :   Mike Fitzgerald
SECONDED :  Joe Gillis
DISCUSSION:  Joe Gillis questioned whether or not the dollars the IDA received from the 50 acre lot sale at the Tryon Park was deposited into an account that collects interest. Scott Henze stated that it was deposited into the ICS account that collects 3.5% interest.

VOTE:            Unanimous

A. Nominating Committee

No report.

B. Audit Committee:

• Monthly Bank Reconciliation Report: Mike Fitzgerald
•  DISCUSSION: Mike Fitzgerald stated that he had had questions with the various deposits and moving dollars from the T-Bill investments into another account but the questions were answered and all is in order.

C. Governance Committee:

• No report

D. Finance Committee:

• The Finance Committee met on June 1, 2026 to continue the discussion on IDA investments.
• T-Bills 3&4 have been moved to the ICS account that generates 3.5% interest rate.
• The Finance Committee continues to explore investment opportunities that will:

1. Meet regulatory Compliance
2. Earn the best interest rates
3. Provide short-term flexibility.
4. Provide a diversified portfolio.

• Finance Committee recommendation is to leave the T-Bill 3&4 investments in the ICS account for the time being.
• Executive Director to provide T-Bill rates at each monthly meeting for monitoring purposes.

DISCUSSION: Scott Henze reviewed the background information as identified within the agenda. Mike Fitzgerald noted that the Finance Committee felt as though with the number of projects coming up that the IDA should have funds easily available to use.

1. County Report: Tom Roehl

DISCUSSION: Tom Roehl noted that the Fulton County Board of Supervisors authorized the advertisement for bids for the County-owned Fashion Tanning Drum Removal Project with bids to be opened on July 22, 2026.

                         Joe Gillis questioned whether or not the drums of paints/dyes had been offered to other leather finishers (companies) to be used. Scott Henze stated that Tim Beckett from Townsend was a part of the effort and it was noted that the fluids would not be useful at this point.

Mr. Roehl noted that the County authorized an agreement with Environmental Design Partnership for engineering services to extend water and sewer lines from the Johnstown Industrial Park to the Johnstown Commerce Park under NY 30A.

2. FCCRG Report: (See attached.) Denis Wilson

 DISCUSSION: Denis Wilson reviewed the CRG report. There were no questions.

3. FMRCC Report:

 DISCUSSION: No report.

• • Current T-Bill rates are as follows:
    • Current T-Bill status:

     

    T-BILL #	TERM	RATE %	MATURITY DATE
    1	12 month	3.502%	11/30/26
    2	9 month	3.425%	10/29/26
    *3	12 month	4.005%	5/14/26
    *4	3 month	3.320%	5/28/26

    *Moved to ICS account in May 2026.

  Maturity Date	Duration	Yield to Maturity
  8/6/2026	3 Mo. T-Bill	%
  11/5/2026	6 Mo. T-Bill	%
  2/18/2027	9 Mo. T-Bill	%
  4/15/2027	~12 Mo. T-Bill	%

  DISCUSSION: Scott Henze stated that per the request of the Finance Committee, he will continue to add the T-Bill report within the monthly agenda. He noted that he will include what the rates are for the Board. Scott Henze stated that he was not able to receive the most recent rates from NBT in time for the meeting.

• Executive Director prepared and submitted a revised 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: $2,715,465.00
3. Soils Spread/Lift: $3,037,000.00
4. Demolition: $3,159,635.00

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.
• On February 27, 2026, NYS ESD provided a letter formalizing the grant award in the amount of $8,995,612 having a total project cost of $9,995,125.
• NYS goal for Minority and Women Owned Business Enterprise (MWBE) is 30%.
• NYS goal for Service-Disabled Veteran Owner Business (SDVOB) is 6%.
• There is a 1% non-refundable commitment fee requirement ($89,956.12).
• Per the Grant Guidelines, the IDA will be required to provide a 10% equity match or approximately $999,512.00.
• The IDA can assume reimbursable costs associated with the four (4) project improvements as of the date of the announcement on December 12, 2025.
• The grant requires that project work commence within two (2) years of announcement.
• During the January 13, 2025 meeting, the IDA authorized contracts with the following:

*Based upon an original $500,000 construction project.

• All engineering agreements have been executed.
• ADK Bottling Works, LLC has agreed to reimburse the IDA for all engineering costs associated with the Water, wastewater and soils project.
• A project manager has been assigned to the IDA.
• Executive Director has been communicating with the project manager on the grant.
• ESD Board will provide formal approval of the Grant Disbursement Agreement (GDA) on June 25, 2026.
• The GDA will identify the terms of the grant to include progress reimbursement payments.
• ESD has agreed to proceed with progress payments if the IDA desires.
• The GDA will be finalized and executed in August 2026.
• It is expected that the IDA will award construction contracts in September/October for the Water and Wastewater construction work.

DISCUSSION: Scott Henze reviewed the background information as identified in the agenda. He noted that he has been coordinating the Grant Disbursement Agreement with the ESD project manager. He noted that ESD will allow for progress payments that will be identified in the GDA. Mike Fitzgerald questioned the progress payment structure and whether or not ESD will be proposing one or the IDA. Scott Henze stated that ESD will. He noted that the progress payments could take up to six (6) months to receive. Mike Fitzgerald noted that the Finance Committee has discussed a “bridge note” for financing. He noted that the bank will need to know what the requirements are before they will provide one. Mike Fitzgerald stated that any progress payment that the IDA can get will reduce the interest of the bridge loan. Scott Henze stated that he will call for a Finance Committee meeting prior to the next board meeting to continue the discussion.

• The 2026 IDA Academy will be held on Thursday July 16, 2026 at the Hilton Garden Inn, Clifton Park, NY.
• There will be a networking event at the Saratoga Race Course on Friday July 17, 1016 for IDA Academy sponsors, attendees and board members on a first come first serve basis. Trackside verandas have been rented and light snacks and refreshments will be served.
• Board members Mike Fitzgerald and Greg Truckenmiller attended the 2025 IDA Academy with Executive Director Scott Henze.
• The cost for three (3) registrations was $525.00
• Sponsorship opportunities are currently being requested for the 2026 IDA Academy (See attached Form).
• An IDA Partner Sponsor is $1,000 and includes three (3) complementary registrations.
• Executive Director is recommending that the IDA consider the IDA Partner Sponsor for 2026.

DISCUSSION: Scott Henze reviewed the information as identified in the agenda. He noted that it is beneficial to attend. Scott Henze stated that he hopes to be able to make it but was unsure at this time. Sue Collins and Mike Fitzgerald agreed to attend.

MOTION:       To authorize an IDA Partner Sponsor at a cost of $1,000 to attend the 2026 IDA Academy.

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

VOTE:              Unanimous

• Executive Director has had discussions with Dave Karpinski, Executive Director of the Parkhurst Field Foundation on the final buildout of the historic Parkhurst Field on Harrison Street.
• In 2022/23 Fulton County provided $1M in ARPA funding in order to build the grand stadium.
• There remains three (3) additional fields to construct as part of the project.
• Karpinski has noted that per CT Male’s engineering drawings, in order to complete the fields, 4,000 yards of fill is needed per field.
• Karpinski is requesting the IDA consider donating up to 12,000 yards of fill from the Tryon Technology Park soils project.
• See attached letter request dated May 26, 2026.

DISCUSSION: Scott Henze reviewed the background information as identified in the agenda. Scott Henze stated that he would make an effort to coordinate the hauling of the fill with County Departments and local municipalities. Scott Henze stated that he would coordinate an effort with Choate Construction to load the municipal trucks as part of their ongoing excavation work for the Niagara Water Bottling Project. Scott Henze stated that he also spoke to Steve Wilson from Bohler Engineering who is working on the IDA’s design to distribute and compact in 12” lifts the soils on the 115 acre lot to determine if removing 12,000 yards of fill would be detrimental to the effort. He noted that Steve Wilson indicated that it would not have any negative impact. Scott Henze noted the positive regional impact to the area that the Parkhurst Field Little League complex will have once completed.

Greg Truckenmiller questioned what would happen if the support is not provided by the municipalities. Scott Henze stated that the Parkhurst Field Foundation will obtain soils via their own contractor at the higher cost. He stated that by providing the soils to the field, the hope is that the Parkhurst Field Foundation would be able to construct two (2) of the three (3) fields this year.

Joe Semione questioned if the municipalities were not supportive if the soils would still be made available. Scott Henze stated that the soils would not be made available.

MOTION:  To sponsor in kind up to 12,000 yards of fill from the Tryon Technology Park in support of continued development of three (3) regulation Little League baseball fields as part of the redevelopment of the historic Parkhurst Field in the City of Gloversville.

MADE BY:         Joe Semione
SECONDED:      Joe Gillis
DISCUSSION:   No further discussion
VOTE:                Unanimous

Joe Semione questioned whether or not there has been interest by any solar companies yet. Scott Henze that he sent out several requests to solar developers and has received interest from Larsen Engineering. He stated that he is coordinating this effort with the Town of Johnstown since any new solar project would fall under the Town’s new solar regulations which are more restrictive than the previous regulations. Scott Henze stated that so far, questions from Larsen Engineering are all related to whether or not they would be able to assume the previous Special Use Permit that was issued to Nexus Renewables. Scott Henze stated that it has been explained to them on many occasions that they would need to go through the entire process under the Town’s new solar regulations.

Sue Collins noted that recently she made contact with Percy Clet of Coldwell Banker who has expressed interest in providing a marketing proposal to the IDA for the Crossroads Park. Sue Collins noted that Scott would meet with Percy when he is able to to discuss the proposal.

1. Upon a majority vote of its total membership, taken in an open meeting pursuant to a motion identifying the general area or areas of the subject or subjects to be considered, a public body may conduct an executive session for the below enumerated purposes only, provided, however, that no action by formal vote shall be taken to appropriate public moneys:

i. matters which will imperil the public safety if disclosed;
ii. any matter which may disclose the identity of a law enforcement agent or informer;
iii. information relating to current or future investigation or prosecution of a criminal offense which would imperil effective law enforcement if disclosed;
iv. discussions regarding proposed, pending or current litigation;
v. collective negotiations pursuant to article fourteen of the civil service law;
vi. the medical, financial, credit or employment history of a particular person or corporation, or matters leading to the appointment, employment, promotion, demotion, discipline, suspension, dismissal or removal of a particular person or corporation;
vii. the preparation, grading or administration of examinations;
viii. the proposed acquisition, sale or lease of real property or the proposed acquisition of securities, or sale or exchange of securities held by such public body, but only when publicity would substantially affect the value thereof.

MOTION:  To go into Executive Session for the proposed acquisition, sale or lease of real property or the proposed acquisition of securities, or sale or exchange of securities held by such public body, but only when publicity would substantially affect the value thereof.

MADE BY:     Mike Fitzgerald
SECONDED:  Dave D’Amore
DISCUSSION: None
VOTE  :           Unanimous
TIME  :           8:45 a.m.

MOTION:                   To go out of Executive Session.

MADE BY:     Sue Collins
SECONDED:  Greg Truckenmiller
DISCUSSION: None
VOTE:             Unanimous
TIME:             10:14 a.m.

• Next regularly scheduled meeting is the IDA’s annual meeting  is July 7, 2026.

MOTION        :    To close the meeting at 10:15 a.m.

MADE BY      : Sue Collins
SECONDED   :  Dave D’Amore
DISCUSSION           : None
VOTE:  Unanimous