TUESDAY, August 12, 2025
8:00 A.M - PLANNING DEPARTMENT CONFERENCE ROOM

I. MINUTES FROM JULY 8, 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

• T-Bill No. 4 will expire on 8/14/25
• T-Bill No. 4 can be renewed via the following:

Maturity Date Duration Yield to Maturity
11/12/2025 3 Mo. T-Bill 3.967%
2/5/2026 6 Mo. T-Bill 3.955%
5/14/2026 9 Mo. T-Bill 3.784%
7/9/2026 11 Mo. T-Bill 3.770%
8/15/2026 12 Mo. T-Note* 3.629%
(*T-Note Pays Semi-Annual Coupon)

IDA DISCUSSION: : Scott Henze reviewed the renewal rates to T-Bill #4. Joe Semione suggested renewing at the 6 month rate that would still give the IDA a higher yield and then we could assess after the 6 month timeframe. Dan Rounds noted that the 6 month rate appeared to be the best although mentioned that at some point the IDA may want to lock in a longer term. He stated that he is currently looking at the end dates and what that rates may look like at that time. Dan Rounds agreed that at this time though the 6 month term and rate appears to be the best.

IDA ACTION:

MOTION: To authorize the renewal of T-Bill #6 for a 6-month term at 3.955%.
MADE BY: Joe Semione
SECONDED: Dan Rounds
DISCUSSION: No further discussion.
VOTE: Unanimous

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 Betsy Emory has commenced making contact to the list of persons provided to her per category as part of the Customer Development Interviews (CDI). He indicated that a list of questions per category is being developed and would be circulated. He indicated that the interviews would take place in September.

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.

d. 5CD City of Johnstown Site Plan Review:

• 5CD received approval of the 64 unit Senior Housing Initiative on Tuesday August 5, 2025.

e. 5CD Application to Homes and Community Renewal:

• 5CD reported that there have been significant changes to the application pertaining to income levels that they are working though.

IDA DISCUSSION: Scott Henze stated that the project received City of Johnstown Planning Board approval on Tuesday August 5, 2025 and that Sumeet Guptka of Five Corners Development noted that the application to Home and Community Renewal has changed pertaining to income levels. He stated that Sumeet felt as though the applications will be targeting a larger higher densely populated Cities than Johnstown. He noted that Sumeet will still submit an application however.

VI. NEW BUSINESS:

B. FCCRG EXPERTISE PROJECT:

• In January 2025, the FCCRG received a $549,000 grant through CFA Round 14 of the ESD Mohawk Valley Empowers Grant fund to purchase a mobile-virtual immersive platform that will provide students with a virtual experience of what it would be like to work in partnering local/regional industries.
• The CRG is soliciting the five (5) Mohawk Valley Region IDA’s for providing up-front costs in order to kick start the initiative.
• The CRG is requesting $75,000 in funding that will be reimbursed through the awarded grant fund drawdowns within a 12-15 month period.
• Ken Adamczyk, FCCRG Economic Development Specialist to present an overview of the Expertise Project.

IDA DISCUSSION: Scott Henze reviewed the background information as identified within the agenda and introduced Ken Adamczyk. Ken stated that he commenced working with the Expertise project 3-4 years ago. He stated that they are a private business that has created a workforce development tool. He stated that the goal is to break the awareness gap between students, parents, and educators, unemployed, underemployed and the businesses. Ken Adamczyk stated that in the current educational system, if a student were to ask the guidance counselor about specific colleges, the counselor would be able to answer the questions, however if you were to ask the same counselor a question about what types of businesses are located within the County, they would not be able to tell you. He stated that in 2 years, NYS is moving away from the Regents program and will be implementing the Blue Ribbon program whereby every 9th grader will need to move into a pathway. He stated that once the student completes the pathway, they will have that particular pathway seal. He stated that the Expertise Project is a way to start focusing students on a particular pathway. He stated that the Expertise Project was a priority project identified in the local Regional Economic Development Council within their 2023 strategic plan as a Catalyst Project. He stated that in 2025, the CRG was awarded $549,000 that will provide all of the local educational institutions, BOCES, workforce development etc. with services within the Mohawk Valley Region services free of charge for 2-years. Ken Adamczyk described the Expertise Project as an online workforce Netflix. He stated that the Expertise Project has created over 200 different videos about companies that are regional and local to the Fulton County area. He stated that the videos are both shot two and three dimensionally whereby anyone subscribed to the site can see what the specific company does and take a tour of the company’s specific facility. He stated that there are also career paths available and noted that for instance if Townsend Leather wanted to prepare a video they could chose a path such as the person responsible for picking the colors and matching colors etc. He stated that there are career pathways for engineers, civil engineers, landscape architects etc. He stated that everything is based in NY. He stated that the Expertise Project will provide the availability for students to research the pathway or business using three dimensional and two dimensional methods as if the student was located at the business. He stated that businesses can also pay for a video to be created for a specific need that they have and use that video for career fairs and marketing for workforce. Ken Adamczyk provided an example video of students from Northville Central School participating and creating video content as part of the Expertise Project.

Ken Adamczyk stated that the CRG is asking for $75,000 in upfront funds to be provided from each IDA within the Mohawk Valley Region so that the CRG does not have to take out a loan with interest in order to fund the implementation. He stated that the $549,000 grant awarded is a reimbursable grant. He stated that the dollars will be used to purchase and initiate 500 virtual realty goggles and commence the development of the virtual emersion room and provide training. He stated that the Expertise Project is providing the second year of the subscription at no cost.

Joe Semione questioned what the cost will be to continue with the subscription for year 3 and 4 etc. Ken Adamczyk stated that the schools that want to stay involved will pay for their own subscription fee from year 3 on. He stated that there may be additional grant funding available. He mentioned that some schools already subscribe. Ken Adamczyk stated that some schools will continue and some will not. He stated that a lot will depend on the teacher that is implementing it within the respective school.

Ken Adamczyk stated that the Emersion Room will be transported via an enclosed trailer that will be branded to include all of the IDA’s logos that sponsor the project.

Scott Henze asked the IDA Board if they feel as though the Expertise Project would be beneficial to provide workforce training and job creation to support local and Mohawk Valley Region businesses. Dan Rounds stated that anything that the IDA can do to give back to the local students to help them navigate what is a difficult environment is beneficial. He stated that this shows a more proactive engagement to prove to businesses that may be looking to locate in the area that the IDA is working on workforce development to supply the workforce that they need. Dan Rounds commented that sadly some of the youth do not feel that the area is a great place and anything that the IDA can do to change that is a win.

Scott Henze read the IDA’s Mission Statement to the Board and asked if they feel as though providing a Sponsorship to the Expertise Project is in keeping with the Mission. All members agreed that it is.

Scott Henze asked Kara Lais how the IDA can proceed. Kara Lais stated that IDA’s are not allowed to provide grant or loans however do have the authority to enter into a contract for something that supports the IDA’s powers, duties and Mission. She stated that if all of the other IDA’s are going to also support the initiative, then there should be one (1) Memorandum of Understanding of similar agreement that all IDA’s are a party to.

Based upon further discussion, the IDA was in agreement with the concept of providing a Sponsorship support to the Expertise Project in the amount of $75,000 and that a final document will be prepared to present to the IDA.

MOTION:
MADE BY:
SECONDED:
DISCUSSION:
VOTE:

VII. IDA TRAINING:

A. NYS EDC SUMMER IDA ACADEMY:

• Executive Director and IDA members Fitzgerald and Truckenmiller attended the NYS EDC Summer IDA Academy on July 29, 2025 at the downtown Ithaca Conference Center.
• Topics and takeaways:

1. Electric Capacity in New York: An Update on the POWER UP Program (Promote Opportunity with Electric Readiness for Underdeveloped Properties) is designed to develop electric capacity in NY, creating dozens of power-ready sites and attracting new businesses to the state.

- NYS included $100M/year for 3 years in budget.
- Is specific to power utility (unlike FastNY)
- New Energy Code in effect as of January 1, 2026 requiring enhanced energy efficiency in new construction and renovations through the utilization of heat pumps etc.

2. NYS Authorities Budget Office Training:
- Audits focus on IDA’s using standardized project forms, inclusion of recapturing policies, PILOT standards and calculating PILOT payments correctly.
- Mission Creep-Moving away from the IDA’s mission. Stick to your Mission!
- IDA Committees must follow Open Meets Law, keep and post minutes of meeting.
- Finance Committee must meet prior to IDA issuing debt, report to the full IDA Board.

3. Housing Policies Best Practices:
- Representatives from Onondaga County and Erie County IDA’s.
- Housing PILOT’s are unique to each area/community. Each area/community have different AMI’s.
- Each area/community has different housing needs:
• Workforce Housing
• Market Rate Housing
• Senior Lifestyle Housing
- At times, housing PILOTs are criticized due to not creating permanent full time jobs.
- If considering a per unit price structure, work with local assessor to determine what they would assess each unit at then negotiate.

IDA DISCUSSION: Scott Henze reviewed the background information as identified within the agenda noting his takeaways from the IDA Academy. Scott Henze noted that Committee meetings are required to be advertised and recorded. He stated that the minutes to the meeting must also be posted on the IDA’s website. He stated that this is something that the IDA will commence now.

Scott Henze stated the reason why he read the IDA’s Mission Statement at the start of the meeting was due to the fact that the ABO strongly recommends that IDA’s stick to their Mission Statement’s when making decisions. He stated that it is recommended that the IDA read the Mission Statement each time that they are going to make a decision and to make sure that the decision is in keep with the Mission Statement. He noted that there may be a need to amend the Mission Statement from time to time as things change.

Greg Truckenmiller stated that the PowerUp program is a new program and that the State is trying to find a way to provide assistance to the various new challenges being faced with the electric demand. Greg Truckenmiller stated that in regards to the Housing Policies and Best Practices, it was clear that every area is unique and you need to meet the needs of the local area. He stated that we do not need to be comparable to what other County IDA’s are providing for PILOTS.

Greg Truckenmiller noted that the Executive Director also provided a recap of the year and what the NYS EDC is working on to assist IDA’s and Economic Development in NY.

VII. OTHER BUSINESS:

Joe Semione questioned the number of grants that the CRG are getting for various initiatives. Scott Henze stated that the CRG utilizes a grant writer. Joe Semione suggested that the IDA budget for grant writing services in the 2026 budget. Scott Henze stated that he would reach out to Nick Zabowski from Orion Management who does the grant writing for the CRG to see if he would be available to assist the IDA in grant writing.

IX. Executive Session:

VIII. NEXT MEETING:

IX. CLOSE MEETING: