IDA PRESENT:

___SUE COLLINS, CHAIRMAN
___DR. GREG TRUCKENMILLER, VICE CHAIRMAN
___MIKE FITZGERALD, TREASURER
___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
___CHRISTINA VANVALKENBURG, FCCRG
___ JENNIFER LAUBENSTEIN , FMRCC

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 August 11, 2026 meeting.
MADE BY      :
SECONDED   :
DISCUSSION:
VOTE              :

MOTION :   To approve the budget report as presented.
MADE BY :
SECONDED :
DISCUSSION:
VOTE               :

A. Nominating Committee

No report.

B. Audit Committee:

• Monthly Bank Reconciliation Report: Sue Collins
•  DISCUSSION:

C. Governance Committee:

• No report

D. Finance Committee:

• The Finance Committee met on September 3, 2026 to continue to discuss the following:

1. IDA investments.

• Continue to track. T-Bill No. 2 matures 10/29/26.

2. FastNY Track C grant award.
3. TTP Water System Improvement Project award.

• Reviewed bidders list. Recommending an award to Borderline Excavating and Fence as low responsible bidder.

4. Recommended approach on Line of Credit for project work at the Tryon Technology Park.

• Recommending to execute Terms Sheet to establish Line of Credit with NBT Bank.

DISCUSSION:

1. County Report: Tom Roehl

DISCUSSION:

2. FCCRG Report: (See attached.) Christina VanValkenburg

 DISCUSSION:

3. FMRCC Report: Jennifer Laubenstein

 DISCUSSION:

• 1. 1. Water System Upgrade Project EasementsWastewater System Upgrade Project:
        1. 1. Wastewater System Upgrade Project:
              1. Authorizing An Advertisement to Bid:
                 1. Background:

                  

                 • 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: $2,715,365.00
                 2. Wastewater System Improvements: $1,083,125.00
                 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 ($9M per GDA) 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 ($90,000).
                 • Per the Grant Guidelines, the IDA will be required to provide a 10% equity match or approximately $999,125.00.
                 • 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:

                  

                  

                 FIRM	ENGINEERING	COST
                 Bohler Engineering	Soils Construction	$45,000
                 CT Male	Water System Improvements	$200,000
                 Environmental Design Partnership	Wastewater Improvements	$108,500
                 TOTAL		$353,500

                  

                  

                 • All engineering agreements have been executed and include both Construction Administration and Construction Management services.
                 • 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 provided 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.
                 • The IDA wished to utilize progress payments to finance the projects identified above.
                 • ESD Project manager included progress payments.
                 • ESD provided a draft GDA to the IDA on June 26, 2026.
                 • ESD conducted a Public Hearing on the grant on July 17, 2026.
                 • ESD continues to leave a comment period open for several weeks.
                 • Once the comment period closes, ESD will finalize the GDA and send to the IDA for review and execution. At this time, the 1% commitment fee will be due.

                  

                 • Project cost and financing sources are as follows:

                  

                 Financing Uses	Amount
                 Water, Wastewater, Pipes, Valves, Pumps	$3,500,000
                 Testing, Survey, Mobilization	$350,000
                 Hauling, Grading, Compaction, Restoration	$3,000,000
                 Abatement/Demolition	$3,000,000
                 Soft Costs	$145,125
                 TOTAL	$9,995,125
                 ESD GRANT	$9,000,000
                 LOCAL MATCH 10%	$995,125
                 COMMITMENT FEE 1%	$90,000

                  

                 DISCUSSION:

                 1. Water System Upgrade Project:

                  

                 • Due to the aggressive timeline that Niagara has to commence operations, the Water System Improvement work is currently out to bid. *See Bid Advertisement.
                 • The Water system Improvement work includes:
                   1. Installation of 3,100 LF of 12” ductile iron water main.
                   2. Improvements to the water booster pump station.
                   3. Disinfection of the 300,000 gallon water storage tank.
        • The IDA received bids on August 26, 2026.
        • Six (6) bids were received.
        • The original engineers cost estimate provided by C.T. Male was $1.2 Million. The low bids came in under budget.
        • T. Male performed an extensive review and analysis of the bids received and have determined the final bidders list to be:

         

        CONTRACTOR	TOTAL BID
        Borderline Excavating and Fence	$923,470.00
        Dejong Brothers Companies, LLC	$925,300.00
        CFI Contracting Inc	$1,169,420.00
        JHK Trucking and Excavating, Inc	$1,198,760.00
        Jablonski Excavating, Inc	$1,291,000.00
        Peter Luizzi & Brothers Contracting, Inc	$1,796,505.00

         

        • *See C.T. Male Bidders List analysis and recommendation of award.
        • During the September 3, 2026 meeting of the IDA Finance Committee, the Committee reviewed the bids received and recommended that the IDA Board award a contract to Borderline Excavating and Fence in the amount of $923,470.00.

         

        DISCUSSION:

        MOTION: To award a contract to _____________________ in the  amount of $______________ for the Tryon Technology Park Water System Improvements Project and to authorize the Chairman to execute all documents necessary upon review and approval by IDA Counsel and Executive Director.

        MADE BY:

        SECONDED:

        VOTE:

         

     • T. Male has identified there are three (3) property easements required in order to install the new waterline.
     • Easements are Required from the following properties:

      

     SBL	OWNER	EASEMENT
     106.-5-4	NYS OGS	10,468+/- s.f.
     106.-2-19	NYSDSW	7,000+/- s.f.
     106.-2-22	Don Brown Bus	42,310+/- s.f.

     • *See easement documents.

      

     DISCUSSION:

      

      

     MOTION: To authorize the Executive Director to execute easements with departments of State of New York and Don Brown Bus Sales Inc. in support of Tryon Technology Park Water Upgrades project.

      

     MADE BY:

     SECONDED:

     VOTE:

      

  1. Purchase of new Pumps for Existing Wastewater Pump Station:

   

  • The existing Wastewater Pump Station at the Tryon Park is rated to pump 300GPM.
  • Based upon the analysis of the existing wastewater pump station at Tryon and the anaylsis of the NYS sewer infrastructure, EDP has determined that the existing pump station is not pumping to the design capacity.
  • EDP recommended that two (2) new wastewater pumps be purchased and installed.
  • Based upon the standards set for Fulton County sewer districts, the utilization of Sulzer pumps is required.
  • The sole location to purchase Sulzer pumps is via Shrier-Martin Process Equipment Co.
  • Shrier-Martin Process Equipment is the sole source for the purchase of Sulzer pumps.
  • EDP recommended that the IDA purchase two (2) Sulzer pumps that could be used in the existing Wastewater Pump Station in order to be assured that the existing station is pumping at 300 GPM and then be re-installed in the new Wastewater Pump Station.
  • A quote was recieved from Shrier-Martin Process Equipment totaling $76,184.00.
  • During the August 5, 2026 meeting of the Finance Committee, the committee recommended that the IDA Board authorize the purchase of these pumps.
  • The IDA Board discussed the recommendation and approved the purchase at the August 11, 2026 board meeting.
  • The pumps have been ordered.

  DISCUSSION:

• • The IDA submitted a grant through NYS Empire State Development’s PowerUP grant program to bring transmission level power into the Tryon Technology Park.
  • On April 24, 2026, the IDA was notified that NYS ESD had awarded the IDA $15.3M is funding in support of the $17.3M anticipated project cost.
  • To date, there has been no project manager assigned to the IDA for the grant.

   

  DISCUSSION:

• • Executive Director, with the assistance of Ron Peters at the FCCRG, attended a Zoom meeting with a representative of Key Bank on September 26, 2026.
  • Executive Director provided three (3) years of IDA Audit records to representative.
  • Key Bank will require a Fiscal Advisor to be retained by the IDA. The Fiscal Advisor will provide a recommendation to Key Bank as to how the borrowing would be structured.
    • The IDA board has discussed obtaining financing for upcoming project work at the Tryon Technology Park.
    • Two (2) financial institutions have been solicited, Key Bank and NBT Bank.

     

    Key Bank

  DISCUSSION:

   

  NBT Bank

  • Executive Director and Mike Fitzgerald coordinated with a representative from NBT Bank to discuss a Line of Credit.
  • *See attached Term Sheet provided by NBT Bank.
  • During the September 3, 2026 meeting of the Finance Committee, the Committee recommended that the IDA Board authorize the acceptance and execution of the conditions within Term Sheet.

   

  DISCUSSION:

   

  MOTION: To authorize the Chairman to execute a Term Sheet with NBT Bank for a Line of Credit in support of FastNY Track C grant funding project improvements at the Tryon Technology Park.

   

  MADE BY:

  SECONDED:

  VOTE:

   

   

• • IDA Board must adopt and file in PARIS a 2027 Budget by November 1, 2026.
  • Executive Director and CFO have developed the draft budget.
  • The Governance Committee will meet to discuss salaries for 2027.
  • The Final Budget will be presented at the October 13^th Board meeting for approval.
  • *See proposed budget attached.

   

  DISCUSSION:

   

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 __________.

MADE BY      :
SECOND        :
DISCUSSION:
VOTE              :
TIME              :

MOTION        :           To go out of Executive Session.

MADE BY      :
SECOND        :
DISCUSSION:
VOTE               :
TIME              :

• Next regularly scheduled meeting is the IDA’s annual meeting is October 13, 2026.

MOTION        :    To close the meeting at _____a.m.

MADE BY      :
SECONDED   :
DISCUSSION             :
VOTE             :