Minutes of the Board of Directors

Lumber City Development Corporation
Minutes of the Board of Directors

May 2, 2012
500 Wheatfield Street
North Tonawanda, NY  14120

The meeting of the Lumber City Development Corporation (LCDC) was called to order at 6:03 pm by Chairman Taylor at 500 Wheatfield Street, North Tonawanda, NY.  The following Directors were present:
                    
Rich Andres       Joe McMahon
Joe Fonzi           Joe Miranto
Dave Gross       Andrea Moreau       
Garry Krause     Gary Przewozny
Nick Maniccia     Douglas Taylor

Also Present:       Mike Zimmerman, Angela Renda
                          Community Development Director James Sullivan
    
Absent:               Dave Guido, Ed Janulionis, Bob Miller, Rob Ortt

Minutes Review    
    
The minutes from the March 21, 2012 board meeting were included in the package and the Board took a few minutes to review them.  As there were no questions or clarifications:

Resolution:    Moved by Director Gross,

That the Board of Directors approves the minutes of the March 21, 2012 meeting.
Seconded by Director Moreau and unanimously approved.

Treasurer's Reports    
    
Director Moreau presented and reviewed the reports for March and April 2012. The total ending balance for all accounts as of April 30, 2012 was $620,087.24

Resolution:    Moved by Director Przewozny,

That a motion is made for the March and April, 2012 reports presented are approved and accepted.
Seconded by Director Andres and unanimously approved.

Committee Reports:
    
Finance/Loan:    A Committee Meeting was held on April 18, 2012. Minutes from the meetings were distributed to the board. Board member David Gross stated he was approached by the Hughes to assist them on their accounting procedures regarding the proposed restaurant to be located at 102 Webster Street.  After a discussion, it was agreed upon that Director Gross will abstain from all votes relating to the project at 102 Webster Street. Further, the staff will pursue the issue with the Corporate attorney as it relates to the newly revised Corporate by-laws.

Resolution:    Moved by Director Maniccia,

A motion was made to approve a request by Draco Development (102 Webster Street) for a $50,000.00 (Fifty Thousand Dollar) loan at 3% amortized for 10 (ten) years with a balloon payment in 7 (seven) years and a $50,000.00 (Fifty Thousand Dollar) deferred loan. The deferred loan is based on the full completion of the project and job creation.

Seconded by Director Przewozny. Motion carried with 8 yes votes, 1 no vote (Joe Miranto) pending review of Conflict of Interest policy and 1 abstention (David Gross).


Projects:    The Projects Review Committee did not have a meeting.

   
Personnel:    The Personnel Committee did not have a meeting.

   
Marketing:    The Marketing Committee did not have a meeting. Mike Zimmerman did share with the board that he has completed training and is able to update the Gateway Harbor website. Mike also reported that he has created a Facebook Page for the LCDC.

Old Business:   
80 Webster Street-Final Sign Design was distributed to the Board

Webster Street Site Improvement Project

Marina Development

Contracts/Facades & Miscellaneous



Resolution:    Moved by Director Moreau,

A motion to approve a contract with DCS Consulting to provide services during the preconstruction and construction phases related to the facade project at 102 Webster Street in the amount of $2,000.00.

Seconded by Director Przewozny. Motion carried with 9 yes votes and 1 abstention (David Gross).



Resolution:    Moved by Director Moreau,

A motion to approve a contract with David W. DeBoy, Architect, to provide services related to the facade renovation project at 102 Webster Street as per the attached scope of services.

Seconded by Director Maniccia. Motion carried with 9 yes votes and 1 abstention (David Gross).



Resolution:    Moved by Director Moreau,

A motion to approve a contract with F&S Design Studio, to provide design services related to the facade renovation project at 102 Webster Street at $75.00 per hour.

Seconded by Director Maniccia.  Motion carried with 9 yes votes and 1 abstention (David Gross).



Resolution:    Moved by Director Miranto,

A motion was made to rescind the board resignation submitted by Director Miranto.

Seconded by Director Taylor and unanimously approved.

New Business:
Zaepfel @ 64 Webster Street:  Presentation was not given at this time. This developer is still very interested in this project and has until the June board meeting to present his proposal. The LCDC staff indicated he has made progress in terms of investigating the building.   

Finance Discussion:  It was decided that until the 64 Webster Street project has more clarification the cash flow discussion will be discussed by the Projects Review Committee and the Finance & Loan Committee.

Creation of Audit and Governance Committees:  Several board members stated that the Committees were created when the revised by-laws were reviewed by the law firm of Harris Beach.  It was decided that the Corporate attorney review the revised by-laws and that this issue be tabled until the next board meeting in June, which appropriately will be the required annual meeting.

Request for Donations:  Several requests were presented to the board members and all were denied based on no relevance in relation to the to the objectives of the Lumber City Development Corporation

Development Project Potential- Joe McMahon:  Director McMahon presented a possible opportunity for the LCDC to get involved with a potential business looking to relocate to North Tonawanda.  More information will be available by our next board meeting.

Intern:  Mike Zimmerman discussed an intern that is a resident of North Tonawanda wanting to get involved in assisting LCDC with projects over the summer.  Jim Sullivan has the jurisdiction to approve this.

Other Business:


There being no further business, a motion was made by Director Moreau to adjourn at 7:18 pm.  Seconded by Director Gross and unanimously approved.

                                    

Respectfully submitted,



Garry Krause
Secretary, LCDC
May 2, 2012