IDA PRESENT:

SUE COLLINS, CHAIRMAN
GREG TRUCKENMILLER, VICE CHAIRMAN
DAN ROUNDS, SECRETARY
JOSEPH SEMIONE, MEMBER
JOE GILLIS, MEMBER
KARA LAIS, FITZGERALD, MORRIS, BAKER, FIRTH PC
SCOTT HENZE, EXECUTIVE DIRECTOR

OTHERS PRESENT:

TOM ROEHL, LIASON ECONOMIC DEVELOPMENT&ENVIRONMENT COMMITTEE
TIM BECKETT, FCCRG
SHANNON WAGNER, HODGSON RUSS, LLP – WESSON GROUP (ZOOM)
SEAN KEMPH – WESSON GROUP (ZOOM)
RICH COLUCCIELLO – WESSON GROUP (ZOOM)

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 April 14, 2026 meeting.
MADE BY:     Joe Semione
SECONDED:  Dan Rounds
DISCUSSION: None
VOTE:            Unanimous

MOTION :   To approve the budget report as presented.
MADE BY:     Greg Truckenmiller
SECONDED:  Joe Semione
DISCUSSION: None
VOTE:            Unanimous

A. Nominating Committee

No report.

B. Audit Committee:

• Monthly Bank Reconciliation Report: Joe Semione
•  DISCUSSION: Joe Semione noted that all was in order

C. Governance Committee:

• No report

D. Finance Committee:

• See attached report.

DISCUSSION:

1. County Report: Tom Roehl

DISCUSSION: Tom Roehl noted that the Board of Supervisors passed a motion to start the process of applying for another round of MicroEnterprise grant funding in the amount of $300,000 noting that the CRG administers the program and that it has been a fabulous program for Fulton County.

2. FCCRG Report: (See attached.) Tim Beckett

 DISCUSSION: Tim Beckett reviewed the CRG report provided. He noted the recent Brownfield event as being a success and that the CRG continues work on the Johnstown Commerce Park

3. FMRCC Report:

 DISCUSSION: No report

• 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”.
• 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.
• Betsy Emory developed the CDI Interview Questionnaire per category (Economic Development, Tourism, Workforce, and Housing).
• CDI Interview Questionnaire circulated to Executive Team for feedback.
• During the September 9, 2025 meeting, the IDA Board reviewed the questionnaires.
• Betsy Emory has completed thirteen (13) CDI interviews to date. Two (2) more interviews to be conducted by the end of the week.
• Betsy Emory has submitted a draft report on the Customer Development Interviews.
• The draft report was provided and discussed at the December 9, 2025 meeting.
• Betsy Emery to present report findings to the IDA.
• Betsy Emery presented the report to the CRG Board at their March 27, 2026 meeting.
• During the April 14, 2026 meeting, Sue Collins noted that she and CRG member Seth Brown would arrange for the five (5) groups to reconvene to discuss the shared web portal concept proposed by Emery Designs.
• A meeting was scheduled for May 11, 2026 however required to be rescheduled due to a last minute schedule conflict of the.
• A new meeting date is currently being established.

DISCUSSION: Scott Henze noted that a meeting was scheduled for May 11 however; he and Ron Peters had a last minute schedule change and would not be able to attend the meeting so the meeting was rescheduled to a later date.

1. Project Completion Date and Sales Tax Exemptions:

• During the January 13, 2026 meeting, the IDA Board adopted a resolution taking certain actions providing benefits to the proposed Decker Drive, LLC Expansion Project 1701-25-01-A.
• All closing documents have been executed. The property/project closed on February 13, 2026.
• During the February 17, 2026 meeting, the IDA agreed to extend the project completion date and date in which the sales tax exemptions terminate be extended from January 31, 2027 to March 31, 2027.
  2. New Information:
• Kara Lais received correspondence from Decker Drive, LLC on April 20, 2026 noting that due to cost increases, the proposed 5,000 s.f. expansion is on hold and they are not going to seek additional acreage.
• • The anticipated cost of the project totals $4.7M and the job counts will remain the same as previously considered.
  • Decker Drive, LLC will increase their loan to $3.8M.
  • Decker Drive, LLC is requesting an increase in the mortgage tax exemption received by the IDA from $31,500 to $38,000.

DISCUSSION: Scott Henze reviewed the new information as identified in the agenda. He asked Wesson Group members to provide an explanation on the request. Shannon Wagner confirmed that the 5,000 sf addition is on hold and noted that the cost of the project had increased. She noted that even if the 5000 sf addition is removed from the project, the overall cost of the project is only $200,000 less than what was identified in the IDA’s application. Shannon Wagner noted that there is no change in the number of FTE employees identified. Lastly, Shannon Wagner noted that due to the overall increase in the project cost the Wesson Group is requesting an increase in the mortgage recording tax exemption. Rich Colucciello noted that the State grant that was applied for did not award 100% of the request, which was a factor in deciding to move forward with the 5000 sf addition. He noted that also the sale of the building from Nathan Littauer Hospital to the Wesson Group took longer (approximately 6 months longer) than anticipated due to the State Department of Health approval that was required. He noted that this delay caused prices to increase for various reasons with one being tariffs. He noted that the Wesson Group is spending the same amount of money on the project, as it would have previously with the 5,000 sf addition. He noted that the addition might happen in the future. Rich Colucciello noted that company growth is strong.

Kara Lais questioned when the Wesson Group would close on the upgrades to the building. Rich Colucciello noted by the end of the year and that the Wesson Group has already commenced on the upgrades to the building.

Joe Gillis questioned why the IDA is involved in the project since the Wesson Group is only purchasing the building and renovating it. Kara Lais noted that there will be a PILOT and it will only be on the increased assessment provided by the upgrades. She noted that the previous assessment was $400,000. She noted that there would also be a sales tax exemption for the new materials and equipment.

MOTION:       The IDA accepts the removal of the 5,000 sf addition and agrees to increase the Mortgage Recording Tax from $31,500 to $38,000.

MADE BY:     Greg Truckenmiller
SECONDED:  Dan Rounds
DISCUSSION: None
VOTE: 3-1-1 (Semione abstained)

C. NATIONAL GRID INGHAMS TO ROTTERDAM TRANSMISSION UPGRADE PROJECT:

• National Grid will be reconstructing their 115kV transmission line from their existing Inghams Substation in Manheim, NY to the existing substation in Rotterdam, NY.
• National Grid has contracted with Canacre to assist them in securing land easements as part of the upgrade project.
• Canacre has identified a 20-acre lot (Lot A) located in the Johnstown Industrial Park as an ideal location to serve as a temporary marshaling (laydown) yard.
• Canacre would also like to include two (2) additional adjacent lots identified as Lot B and Lot C.
• The 20-acre lot is owned by the IDA.
• The Lease Term would include 40+/- months (November 1, 2026-February 28, 2030) providing a lump sum payment of $293,232.00. If additional time was needed, Canacre to pay $7,330.80 per month.
• Canacre has had a market study performed in order to provide a Lease Price for the lease of the entire 20-acre lot to include Lots B and C.
• The Market Study identifies a Lease Price of $293,232.
• The IDA and the City of Johnstown entered into an Intermunicipal Agreement for properties sold or leased within the Johnstown Industrial Park.
• 93% of all proceeds go to the City. The remaining 3% are retained by the IDA.
• In order for the IDA to consider leasing the property to Canacre, the IDA is required to have a commercial appraisal performed.
• A proposal has been requested and provided by CBRE to perform a commercial appraisal based upon a monthly lease for a term of approximately 40 months.
• The cost of the appraisal was $3,500.
• During the November 18, 2025 meeting, the IDA Board agreed to contract with CBRE to have the appraisal done on the property at a cost not to exceed $3,500 with 50% being paid by the City of Johnstown.
• Scott Henze notified CBRE on November 19, 2025.
• CBRE responded on December 2, 2025 to discuss the appraisal.
• The appraisal will be based upon a yearly land rent.
• CBRE delivered a Market Rent Study appraisal for the 29.8 acres of land on December 30, 2025.
• A copy of the Market Rent Study has been provided to the City of Johnstown.
• Per email dated January 13, 2026, CANACRE is changing the term to a start date of July 1, 2026 (additional 4 months).
• On March 5, 2026, Scott Henze and Kara Lais attended a Zoom meeting with the Mayor and City Counsel to discuss a response to the terms and compensation based upon the CBRE Market Rent Study performed and other discussion points.
• On Tuesday March 10, 2026, Kara Lais provided a counter proposal to Canacre based upon discussions with the City of Johnstown.
• The counter proposal identified the following terms:

1. Lease Term (Access and Lease to commence on the agreed upon date)- 40 months
2. $500,000 payable in a lump sum or in installments for the initial 40-month term
3. $12,500 per month after the initial 40-month term
4. National Grid to be responsible for real property taxes based on current tax rates.  The current rates would result in annual taxes of $32,560+/-.  If the IDA was not the owner of this property, the property would not be exempt and the real property taxes would either be the responsibility of the tenant or built into the rental amount.
5. Performance Bond (or other similar bond) to cover any restoration or remediation that is otherwise not completed by NG at the end of the lease term

• • On April 1, 2026, Scott Henze and Kara Lais participated in a Zoom meeting with Canacre to discuss the City and IDA’s counter to the initial proposal provided by Canacre.
  • On Tuesday April 2, 2026, Canacre provided a response via email to the counter offer provided.
  • On Thursday April 9, 2026, Canacre accepted the counter proposal provided to them on March 10, 2026.
    • During the April 14, 2026 meeting, the IDA Board approved a resolution authorizing a forty-month license agreement with Niagara Mohawk Power Corporation.

• • 1. New Information:

• • • The IDA has been notified that the license agreement will not be with Niagara Mohawk Power Corporation but would be with Quanta Infrastructure Solutions Group (QISG).
    • QISG will be utilizing the property as a laydown yard in support of the infrastructure work being performed on behalf of National Grid.
    • A request is being made to consider amending the resolution that authorized the license agreement with Niagara Mohawk Power Corporation and to circulate an amended 90-day notice.
    • The amended 90-day notice will not conflict with the intended schedule of providing access to the site.

DISCUSSION: Scott Henze reviewed the new information identified in the agenda.

MOTION:       To amend the resolution dated April 14, 2026 that authorized a forty-month license agreement with Niagara Mohawk Power Corporation contingent upon compliance with Public Authorities Law Section 2897 and authorized the Chair or Executive Director to execute the Lease Agreement subject to the approval of the Agency’s legal counsel as to form and content with the following resolution:

To authorize a forty-month license agreement with Quanta Infrastructure Solutions Group (QISG) contingent upon compliance with Public Authorities Law Section 2897 and authorized the Chair or Executive Director to execute the Lease Agreement subject to the approval of the Agency’s legal counsel as to form and content.

MADE BY:     Dan Rounds
SECONDED:  Joe Gillis
DISCUSSION: None
VOTE: 4-0-1 (Sue Collins abstained)

• • • Niagara Mohawk Power Corporation expressed interest in having access to the site as of July 1, 2026 in order to prepare it for materials to arrive.
    • A daily rental rate of $402.23 per day was agreed upon.
    • During the April 14, 2026 meeting, the IDA Board approved a resolution authorizing a short term license agreement with Niagara Mohawk Power Corporation in order to allow access to the property in order to prepare it for materials to arrive.
    • A request is being made to amend the resolution to replace Niagara Mohawk Power Corporation with Quanta Infrastructure Solutions Group (QISG).

DISCUSSION: Scott Henze noted that the short-term license agreement also would need to be amended.

MOTION:       To amend the resolution dated April 14, 2026 that authorized a short term license agreement with Niagara Mohawk Power Corporation at a daily rate of $402.23 per day commencing July 1, 2026 through July 13, 2026 for site access and staging purposes for the properties known as (a) West Side State Highway 30A (Tax Map Parcel No. 174.18-1-19); (b) North Side Opportunity Drive (Tax Map Parcel No. 185.6-1-1) and (c) North Opportunity Drive (Tax Map Parcel No. 185.6-1-2.1) and authorizing the Chair or Executive Director to execute a License Agreement subject to the approval of the Agency’s legal counsel as to form and content with the following resolution:

To authorize a short term license agreement with Quanta Infrastructure Solutions Group (QISG) at a daily rate of $402.23 per day commencing July 1, 2026 through July 13, 2026 for site access and staging purposes for the properties known as (a) West Side State Highway 30A (Tax Map Parcel No. 174.18-1-19); (b) North Side Opportunity Drive (Tax Map Parcel No. 185.6-1-1) and (c) North Opportunity Drive (Tax Map Parcel No. 185.6-1-2.1) and authorizing the Chair or Executive Director to execute a License Agreement subject to the approval of the Agency’s legal counsel as to form and content.

MADE BY:     Dan Rounds
SECONDED:  Joe Gillis
DISCUSSION: None
VOTE: 4-0-1 (Sue Collins abstained)

D. T-Bills:

• Current T-Bill status:

• IDA has discussed consolidating T-Bills 3 and 4 for a longer set term based upon the continued decline in rates.
• During the April 14, 2026 meeting, the IDA Board agreed that a Finance Committee meeting would be held prior to the next board meeting to discuss an investment plan for the IDA.
• The Finance Committee met on April 29, 2026 and discussed investments with a Mark Curley of Citizens Securities, Inc. Rick Bell of Genoa Asset Management.
• See Finance Committee report.

DISCUSSION: Scott Henze reviewed the background information as identified in the agenda. Dan Rounds provided a report based upon the minutes to the Finance Committee meeting that was held on April 29, 2026 (See April 29, 2026 minutes). Dan Rounds noted that the current ICS account that the IDA has is earning roughly the same percentage as the T-Bills were. He noted that the Finance Committee is recommending that the two (2) T- Bills that are coming due (T-Bills 3&4) be transferred to the ICS account until a final investment solution is agreed upon. He noted that the Finance Committee would continue to discuss options and report to the board. Joe Gillis noted that he would like to diversify the IDA’s portfolio from having a single institution. Joe Semione noted that NBT Bank also provided a summary report after the Finance Committee met.

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 viii.
MADE BY:     Dan Rounds
SECONDED:  Joe Semione
DISCUSSION: None
VOTE  :           Unanimous
TIME  :           8:35 a.m.

MOTION:                   To go out of Executive Session.

MADE BY:     Joe Gillis
SECONDED:  Sue Collins
DISCUSSION: None
VOTE:             Unanimous
TIME:             9:45 a.m.

• Next regularly scheduled meeting is the IDA’s annual meeting  is June 9, 2026.

MOTION        :    To close the meeting at 9:45 a.m.

MADE BY:     Sue Collins
SECONDED:  Dan Rounds
DISCUSSION: None
VOTE:            Unanimous