nassau county industrial development ida (“ida”) agenda · 2020. 5. 5. · d1a (rev) 5-26-2020...

D1A (rev) 5-26-2020

Nassau County Industrial Development IDA (“IDA”)

Agenda

May 28, 2020 at 6:45 PM

I. Board Roll Call II. Chair Report

III. Chief Executive Officer Report

IV. Public Comment Period

A. Public Comment1

V. New Business and Discussion A. Preliminary Resolutions2

i. DBD Realty Group, LLC

VI. Other Business

A. Minutes

i. Approval of May 7, 2020 Minutes

VIII. Chief Financial Officer Report

IX. Adjournment

1 In addition to participation via Zoom, public comments may also be submitted to [email protected]. 2 In addition to participation via Zoom, public comments may also be submitted to [email protected]. A public hearing will happen at a later date for a project receiving a preliminary resolution.

mailto:[email protected]:[email protected]

MEDIA ADVISORY

ON THURSDAY, MAY 28, 2020

THE BOARD OF THE NASSAU COUNTY INDUSTRIAL DEVELOPMENT AGENCY

WILL HOLD A MEETING

STARTING AT 6:45 P.M.

THIS MEETING WILL BE LIVESTREAMED AT https://www.youtube.com/channel/UCuERg-5BYx9VSdBVHUPTYJw/featured

https://www.youtube.com/channel/UCuERg-5BYx9VSdBVHUPTYJw/featured

311391\4811-0879-7361\ v1

DBD Realty Group, LLC -Preliminary Inducement Resolution

A regular meeting of the Nassau County Industrial Development Agency (the “Agency”) was convened in public session, electronically, pursuant to Executive Order No. 202.11 - Continuing Temporary Suspension And Modification Of Laws Relating To The Disaster Emergency - by Governor Andrew M. Cuomo of the State of New York on May 28, 2020 at 6:45 p.m., local time.

The meeting was called to order by the Chairman, upon roll being called, the following members of the Agency were:

PRESENT:

Richard Kessel Chairman Lewis M. Warren Vice Chairman Anthony Simon 2nd Vice Chairman Amy Flores Treasurer John Coumatos Asst. Treasurer Chris Fusco Asst. Secretary Timothy Williams Secretary

THE FOLLOWING ADDITIONAL PERSONS WERE PRESENT:

Harry Coghlan Chief Executive Officer/Executive Director Danielle Oglesby Chief Operating Officer/Deputy Executive Director Colleen Pereira Administrative Director Thomas D. Glascock Agency Counsel Andrew Komaromi Bond/Transaction Counsel

The attached resolution no. 2020-__ was offered by _______, seconded by __________.

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Resolution No. 2020 - ___

RESOLUTION TAKING PRELIMINARY ACTION TOWARD THE ACQUISITION AND STRAIGHT LEASING OF A CERTAIN PROJECT FOR DBD REALTY

GROUP, LLC (THE “APPLICANT”) AND AUTHORIZING THE EXECUTION AND DELIVERY OF A PRELIMINARY AGREEMENT WITH THE APPLICANT WITH

RESPECT TO SUCH TRANSACTION

WHEREAS, the Nassau County Industrial Development Agency (the “Agency”) is authorized and empowered by the provisions of Chapter 1030 of the 1969 Laws of New York, constituting Title I of Article 18-A of the General Municipal Law, Chapter 24 of the Consolidated Laws of New York, as amended (the “Enabling Act”), and Chapter 674 of the 1975 Laws of New York, as amended, constituting Section 922 of said General Municipal Law (said Chapter and the Enabling Act being hereinafter collectively referred to as the “Act”) to promote, develop, encourage and assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing of manufacturing, industrial and commercial facilities, among others, for the purpose of promoting, attracting and developing economically sound commerce and industry to advance the job opportunities, health, general prosperity and economic welfare of the people of the State of New York, to improve their prosperity and standard of living, and to prevent unemployment and economic deterioration; and

WHEREAS, to accomplish its stated purposes, the Agency is authorized and empowered under the Act to acquire, construct, reconstruct and install one or more “projects” (as defined in the Act) or to cause said projects to be acquired, constructed, reconstructed and installed and to convey said projects or to lease said projects with the obligation to purchase; and

WHEREAS, DBD REALTY GROUP, LLC a limited liability company organized and existing under the laws of the State of New York (the “Applicant”) has presented an application for financial assistance (the “Application”) to the Agency, which Application requests that the Agency consider undertaking a project (the “Project”) consisting of the following: (A)(1) the retention of an interest in an approximately 8.02 acre parcel of land located at 1 Old Country Road, Hamlet of Carle Place, Town of North Hempstead, Nassau County, New York (Section: 9; Block: 670; Lot: 56) (the “Land”), (2) the renovation of an approximately 300,000s square foot office building (collectively, the “Building”) on the Land, together with related improvements to the Land, including surface parking spaces and 150,000 square foot parking garage (3) the acquisition of certain furniture, fixtures, machinery and equipment (the “Equipment') necessary for the completion thereof (collectively, the “Project Facility”), all of the foregoing for use by the Applicant as a commercial multi-tenant office building; (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the General Municipal Law) with respect to the foregoing in the form of potential exemptions or partial exemptions from real property taxes, mortgage recording taxes and sales and use taxes (collectively, the “Financial Assistance”); and (C) the lease (with an obligation to purchase), license or sale of the Project Facility to the Applicant or such other entity as may be designated by the Applicant and agreed upon by the Agency; and

WHEREAS, the Agency has given due consideration to the Application and to the representations made by the Applicant therein, in certain supplemental documents and at this meeting, including, without limitation, representations of the Applicant that: (A) the granting by the Agency of the Financial Assistance with respect to the Project Facility will be an inducement to the Applicant to

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undertake the Project in Nassau County, New York; (B) the completion of the Project and the leasing and operation of the Project Facility will not result in the removal of a facility or plant of the Applicant or any tenant, user or occupant of the Project Facility from one area of the State of New York (the “State”) to another area of the State or in the abandonment of one or more plants or facilities of the Applicant or any tenant, user or occupant of the Project Facility located in the State but outside Nassau County, New York; (C) the Project will serve the public purposes of the Act by preserving permanent, private sector jobs and increasing the overall number of permanent, private sector jobs in the State; and (D) the granting of the Financial Assistance by the Agency will promote the job opportunities, health, general prosperity and economic welfare of the inhabitants of Nassau County, New York, and improve their standard of living, and prevent unemployment and economic deterioration, and thereby serve the public purposes of the Act; and

WHEREAS, a portion of the Financial Assistance consisting of an exemption from real property taxes, if granted, may represent a deviation from the Agency's uniform tax exemption policy with respect to the making of payments in lieu of real property taxes; and

WHEREAS, any approval of the Project is contingent upon, among other things, a final determination by the members of the Agency to proceed with the Project following determinations by the Agency that: (A) the public hearing and notice requirements and other procedural requirements contained in the Act relating to the Project and the Financial Assistance have been satisfied; and (B) the undertaking of the Project by the Agency and the granting of the Financial Assistance are and will be in compliance with all other applicable requirements of the Act, Article 8 of the Environmental Conservation Law (the “SEQR Act”) and the regulations adopted pursuant thereto (the “Regulations” and together with the SEQR Act, collectively, “SEQRA”), and all other statutes, codes, laws, rules and regulations of any governmental authority having jurisdiction over the Project or the Project Facility (collectively, the “Applicable Laws”); and

WHEREAS, the Agency desires to encourage the Applicant to preserve and advance the job opportunities, health, general prosperity and economic welfare of the people of Nassau County, New York, and to prevent unemployment and economic deterioration, by undertaking the Project in Nassau County, New York; and

WHEREAS, a preliminary agreement (the “Preliminary Agreement”) relative to the proposed undertaking of the Project by the Agency has been or will be delivered to the Applicant for execution;

NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE NASSAU COUNTY INDUSTRIAL DEVELOPMENT AGENCY AS FOLLOWS:

Section 1. The Agency hereby authorizes the Chief Executive Office/Executive Director of the Agency (and hereby ratifies any actions taken to date by the Chief Executive Officer/Executive Director): (A) to establish a time, date and place for a public hearing (the “Public Hearing”) of the Agency to hear all persons interested in the location and nature of the Project and the proposed Financial Assistance being contemplated by the Agency with respect to the Project, said Public Hearing to be held in the city, town or village within which the Project Facility is or will be located; (B) to cause notice of said Public Hearing to be given to the public by publishing a notice of said Public Hearing in a newspaper of general circulation available to residents of the governmental units where the Project Facility is or is to be located, such notice to

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comply with the requirements of and to be published in accordance with the requirements of the Act; (C) to cause notice of said Public Hearing, pursuant to the Act, to be given to the chief executive officer of die County of Nassau, New York, and of each city, town, village, school district and other affected tax jurisdiction in which the Project Facility is or is to be located; (D) to establish a time, date and place for a meeting of the Agency (the “IDA Meeting”) to consider whether to approve a proposed deviation from the Agency's uniform tax exemption policy in accordance with the Act if the Executive Director determines that the portion of the Financial Assistance consisting of an exemption from real property taxes constitutes a deviation from such policy; (E) to cause notice of any such proposed deviation from the Agency's uniform tax exemption policy and of the IDA Meeting to be given to the chief executive officer of each affected tax jurisdiction in accordance with the Act; (F) to conduct the Public Hearing or to authorize a hearing officer to conduct the Public Hearing; (G) to cause a report of the Public Hearing fairly summarizing the views presented at said Public Hearing to be promptly prepared and cause copies of said report to be made available to the members of the Agency; (H) to hold the IDA Meeting and to review and respond to any correspondence received from the affected tax jurisdictions regarding the proposed deviation from the Agency's uniform tax exemption policy, if applicable; and (I) to otherwise comply with all other procedural and other requirements imposed on the Agency pursuant to Applicable Laws with respect to the Project and/or the Financial Assistance.

Section 2. The Applicant is hereby authorized to conduct such environmental, engineering, economic, feasibility and other studies and preliminary planning and budgetary processes necessary or convenient to enable the Agency to make its determination whether to proceed with the Project and to grant the Financial Assistance; provided, however, that such authorization shall not entitle or permit the Applicant to commence the acquisition, construction, installation or equipping of the Project Facility on behalf of the Agency unless and until the Agency shall determine that all requirements of Applicable Laws have been fulfilled. The officers, agents and employees of the Agency are hereby directed to proceed to do such things or perform such acts as may allow the Agency to proceed to its final consideration of the Project. This Resolution constitutes an authorization to conduct concurrent environmental, engineering, economic, feasibility and other studies and preliminary planning with respect to the Project within the meaning of Section 617.3(c)(2) of the Regulations and a determination of compliance with technical requirements within the meaning of Section 617.3(c)(2) of the Regulations and does not constitute, and shall not be deemed to constitute, either an approval by the Agency of the Project for the purposes of the Act or SEQRA or a commitment by the Agency to approve the Project or to grant the Financial Assistance.

Section 3. Any expenses incurred by the Agency with respect to the Project and/or the financing thereof shall be paid by the Applicant as set forth in the Preliminary Agreement.

Section 4. The findings of the Agency set forth herein are expressly conditioned upon full compliance of the Applicant, the Project and the Project Facility with all Applicable Laws, and the Applicant shall be required to provide evidence of same satisfactory to the Agency prior to the granting of any Financial Assistance.

Section 5. If, following full compliance with all Applicable Laws, the Agency adopts a

future resolution (the “Future Resolution”) determining to proceed with the Project and to grant the Financial Assistance, or any portion thereof, with respect to the Project and the Applicant complies with all conditions set forth in the Preliminary Agreement and the Future Resolution, then the

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Agency will (A) acquire an interest in the Project Facility pursuant to a deed, lease agreement, assignment of lease, license, bill of sale and/or other documentation to be negotiated between the Agency and the Applicant (the “Acquisition Agreement”); (B) construct, install and equip the Building and acquire and install the Equipment; (C) lease (with the obligation to purchase), license or sell the Project Facility to the Applicant pursuant to a lease agreement or an installment sale agreement (the “Project Agreement”) to be negotiated between the Agency and the Applicant; and (D) provide the Financial Assistance with respect to the Project, all as contemplated by the Preliminary Agreement and the Future Resolution.

Section 6. The form, terms and substance of the Preliminary Agreement (in substantially the form presented at this meeting and attached hereto) are in all respects approved, and the Chairman, Vice Chairman, Chief Executive Office/Executive Director, Chief Operating Officer/Deputy Executive Director or Administrative Director of the Agency are each hereby authorized, empowered and directed, acting individually or jointly, to execute and deliver said Preliminary Agreement in the name and on behalf of the Agency, with such changes therein as shall be approved by the officer executing same on behalf of the Agency, the execution thereof by such officer to constitute conclusive evidence of such officer's approval of any and all changes or revisions therein from the form now before this meeting.

Section 7. From and after the execution and delivery of the Preliminary Agreement, the officers, agents and employees of the Agency are hereby authorized, empowered and directed, acting individually or jointly, to proceed with the undertakings provided for therein on the part of the Agency, and are further authorized to do all such acts and things and to execute all such documents as may be necessary or convenient to carry out and comply with the terms and provisions of the Preliminary Agreement as and when executed.

Section 8. The law firm of Harris Beach PLLC, Uniondale, New York, is hereby appointed Special Counsel to the Agency with respect to all matters in connection with the Project. Special Counsel for the Agency is hereby authorized, at the expense of the Applicants, to work with counsel to the Agency, the Applicants, counsel to the Applicants, and others to prepare, for submission to the Agency, all documents necessary to effect the transactions contemplated by this Resolution.

Section 9. The Chairman, Vice Chairman, Chief Executive Office/Executive Director, Chief Operating Officer/Deputy Executive Director and Administrative Director of the Agency are each hereby authorized and directed to distribute copies of this Resolution to the Applicants and to do such further things or perform such acts as may be necessary or convenient to implement the provisions of this Resolution.

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The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Richard Kessel Lewis M. Warren Anthony Simon Timothy Williams Chris Fusco Amy Flores John Coumatos

VOTING VOTING VOTING VOTING VOTING VOTING VOTING

The foregoing Resolution was thereupon declared duly _____________.

STATE OF NEW YORK ) SS.:

COUNTY OF NASSAU

We, the undersigned [Vice] Chairman and [Assistant] Secretary of the Nassau County Industrial Development Agency (the “Agency”), do hereby certify that we have compared the foregoing extract of the minutes of the meeting of the members of the Agency, including the Resolution contained therein, held on May 28, 2020 with the original thereof on file in our office, and that the same is a true and correct copy of said original and of such Resolution set forth therein and of the whole of said original so far as the same relates to the subject matters therein referred to.

WE FURTHER CERTIFY that (A) all members of the Agency had due notice of said meeting; (B) said meeting was in all respects duly held; (C) pursuant to Article 5 of the Public Officers Law (the “Open Meetings Law”) as modified pursuant to Executive Order No. 202.11 - Continuing Temporary Suspension And Modification Of Laws Relating To The Disaster Emergency - by Governor Andrew M. Cuomo of the State of New York, said meeting was open to the general public, and due notice of the time and place of said meeting was duly given in accordance with such Open Meetings Law; and (D) there was a quorum of the members of the Agency present throughout said meeting.

WE FURTHER CERTIFY that, as of the date hereof, the attached Resolution is in full force and effect and has not been amended, repealed or rescinded.

IN WITNESS WHEREOF, we have hereunto set our respective hands and affixed the seal of the Agency this 28th day of May, 2020.

___________________________ [Assistant] Secretary

___________________________ [Vice] Chairman

(SEAL)

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Rich Moffett Court Reporting, Inc.

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NASSAU COUNTY LOCAL ECONOMIC ASSISTANCE

CORPORATION (the "Corporation")

and

NASSAU COUNTY INDUSTRIAL DEVELOPMENT AGENCY

Meetings

Thursday, May 7, 2020 - 6:30 p.m.

-----------------------------------------------x

(Remotely taken via Zoom)

May 7, 20206:30 p.m.

B E F O R E:

NASSAU COUNTY LOCAL ECONOMIC ASSISTANCE

CORPORATION

Richard Kessel, Chairman

Lewis M. Warren, Vice Chairman

Anthony Simon, 2nd Vice Chairman

Timothy Williams, Secretary

Amy Flores, Treasurer

John Coumatos, Assistant Treasurer

Christopher Fusco, Assistant Secretary

Harry Coghlan, Chief Executive

Officer/Executive Director

Anne LaMorte, Chief Financial Officer

(Continued on next page)

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B E F O R E (Cont'd):

Thomas D. Glascock, Agency Counsel

Andrew Komaromi, Bond/Transaction Counsel

NASSAU COUNTY INDUSTRIAL DEVELOPMENT AGENCY

Richard Kessel, Chairman

Lewis M. Warren, Vice Chairman

Anthony Simon, 2nd Vice Chairman

Timothy Williams, Secretary

Amy Flores, Treasurer

John Coumatos, Assistant Treasurer

Christopher Fusco, Assistant Secretary

Harry Coghlan, Chief Executive Officer

Danielle Oglesby, Chief Operating

Officer/Deputy Executive Director

Anne LaMorte, Chief Financial Officer

Catherine Fee, Director of Business

Development/Chief Marketing Officer

Colleen Pereira, Administrative Director

Carlene Wynter, Compliance Assistant

Nicole Gil, Administrative Assistant

Kevin Murphy

Thomas D. Glascock, Agency Counsel

Andrew Komaromi, Bond/Transaction Counsel

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CEO COGHLAN: Good evening.

My name is Harry Coghlan. I am the

Chief Executive Officer of the

Nassau County Local Economic

Assistance Corporation. On behalf

of our chairman, members of the

board and staff, I welcome you to

today's open meeting of the board

of directors. Today is May 7, 2020

and the time is now 6:30 P.M.

The ongoing COVID-19 public

health crisis and related executive

orders issued by Governor Andrew

Cuomo, this public meeting is

conducted using telephone

conference and video conference.

Participants have access to this

public meeting through a Zoom

invitation on the Nassau County

Local Economic Assistance

Corporation website at

NassauLEAC.com or by watching our

livestream channel which is found

at NassauIDAlive.org.

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If you are participating via

Zoom, the Board encourages all

interested parties to participate

and as such has reserved certain

points in today's hearing for

public comment. If you choose to

make a comment, you can do so by

selecting the "raise hand button"

on your screen. If you are viewing

this hearing on a computer, the

"raise hand" button will appear on

the bottom of your screen and it

will appear by moving your cursor

to that location. If you are

viewing the hearing on a tablet,

the "raise hand button" is at the

top right corner of your screen.

Once you select the raise hand

button, you will have the

opportunity to speak when your name

is announced.

Please note that this is a

moderated Zoom meeting. At times

you hearing me speaking directly to

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our moderator.

Please note that this hearing

is being both livestreamed and

recorded. You can also view this

hearing by going to our website at

NassauLEAC.com,

N-A-S-S-A-U-L-E-A-C.com. Go to the

top of the screen, choose "watch

meetings" and watch the live

stream.

Please also note that we have

a stenographer attending this

meeting in addition to it being

recorded. The stenographer will be

transcribing the hearing so we can

add the transcript of this meeting

to the public record.

Interested parties may also

submit written comments to the

corporation which will be included

within the public meeting record.

Written comments may be sent to the

Nassau County Local Economic

Assistance Corporation located at

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One West Street, fourth floor,

Mineola, New York 11501 to my

attention, Harry Coghlan, Chief

Executive Officer, or please submit

via email at [email protected].

Mr. Chairman, I now turn to

you to commence the meeting.

CHAIRMAN KESSEL: Thank you,

Harry.

Before I say a couple of

things, let's take a roll call of

our Local Economic Assistance

Corporation.

(Whereupon roll call was

taken and all members responded in

the affirmative.)

CHAIRMAN KESSEL: Thank you.

So we have a quorum, we have a full

house tonight, and I want to thank

the board members for taking time

out of your evening to do this

virtual meeting. I really

appreciate all of your help and

input, not just tonight but that we

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constantly get as well.

I do want to explain quickly

to the public that this, the LEAC,

as we call it, the Local Economic

Assistance Corporation is not the

IDA and this is not an IDA meeting.

This is our Local Assistance

Corporation and we are meeting

separately from the IDA. So for

the next 20 minutes or so we will

be dealing only with LEAC business

and not the IDA. When we get to

the IDA, I will and our CEO, Harry

Coghlan will make opening remarks

we will do a pledge of allegiance

and some other business, and so I

just want to explain that to the

public that this is not the IDA.

If you have any matters before the

IDA, I am hoping that that meeting

will start a little bit before

7 o'clock tonight.

Thank you.

This is a time where I would

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ask if any member of the public

would like to address the LEAC

board on LEAC business, and Harry

explained how you need to do that

and we would be glad to hear anyone

from the public who would like to

say anything about any LEAC

business. You are also welcome to

speak as we consider resolutions at

that time as well.

So if any member of the

public would like to comment on any

LEAC business, now is the time to

do it. You will have three minutes

and now I'll leave it over to

Catherine to see if anyone would

like to make any general public

comments.

(No response.)

CEO COGHLAN: At this point I

don't see any raised hands, I will

just ask Catherine to confirm.

MS. FEE: I concur.

CEO COGHLAN: Mr. Chairman,

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if you are ready, we can proceed

with the first order of business

which will be the Hagedorn Little

Village School. I can see that we

have Mr. Greg LiCalzi with us as

well as Mr. Anthony Mazur.

CHAIRMAN KESSEL: Yes. So

our first business as Harry said is

the Hagedorn Little Village School.

Just to make it clear to the

public watching that we are

approving this after having the

proposal made at our last board

meeting in April and we also held a

public hearing about this again,

all remotely, several days ago. So

I want the public to understand

that we are not taking this up for

the first time. This has come

before the Board publicly and it

has been presented to the board at

our last meeting.

We did have a hearing the

other day and so tonight's purpose

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is to get a short presentation on

what the Hagedorn Little Village

School is seeking and then any

public comment followed by any

board comment or questions followed

by a final vote.

So I will ask the Hagedorn

team if they would like to now make

a short presentation on the

request.

MR. LiCALZI: This is Greg

LiCalzi. I am acting as placement

agent for the transaction. I work

at Roosevelt and Cross on behalf of

the Little Village School.

Just wanted to give a quick

overview. The Hagedorn Little

Village School is based in Seaford,

New York. They provide

educational, therapeutic services

for children with developmental

disabilities. The school provides

year-round programs for children

aged from birth through elementary

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school.

They service the full County

of Nassau. Primary funding is from

County and State government as well

as donations from the private

sector.

As we discussed in the

preliminary approval meeting, the

financing is solely for refinancing

outstanding debt of the school

including LEAC Series 2013

tax-exempt bonds. The financing,

again, will not exceed $6.5 million

as we discussed in the last

meeting. Nothing has changed

fundamentally on that transaction

since that.

The two requests that the

client has from Nassau County is an

issuance of tax exempt and taxable

bonds during the Local Economic

Assistance Corporation agreement as

well as mortgage recording tax

exemptions on that transaction.

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We appreciate it.

Does any member of the board

have any questions or comments.

(No response.)

CHAIRMAN KESSEL: Okay. Does

anyone from the public wish to be

heard on this matter?

(No response.)

CHAIRMAN KESSEL: Okay.

Hearing none, just a couple of

points: Number one, as I said at

the hearing the other day, I'm

thrilled to be supportive of this.

This school has got a great

reputation for helping people and

it's these people who have a lot of

challenges and the Hagedorn School

has been around for a long time.

And I have to tell you, and I

mentioned this at the hearing the

other day, that when I reached out

to public officials to let them

know about the hearing and the

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project and the meeting tonight, I

got great praise out there about

the work that the Hagedorn School

does and that's one of the things

that is great about LEAC and the

IDA, that we can assist entities

that need help to serve some of the

people who have challenges and

can't always help themselves, and I

think especially in this time,

challenged time and difficult time

being able to help the Hagedorn

School, I think is a privilege I

think for our LEAC board.

I do want to indicate as I

said the other day that in advance

of this hearing and project

presentation I did reach out and

speak to Brian Nevin on behalf of

Supervisor Saladino as well as left

a message for Rose Walker, a great

friend and County legislator and so

I let them know about this

information, and if there are no

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other comments or questions, I'm

going to take roll of the board at

this time.

(Whereupon roll was taken and

all members responded in the

affirmative.)


The vote is unanimous.

Just so we know what we are

voting for, we are voting for both

the approving resolution and the

SEQRA resolution.

All right. Now --

MR. KOUMAROMI: Sorry, this

is Andrew. Just one quick point.

This is not to exceed the bond

amount for 6.5 million of refunding

bonds collectively taxable or tax

exempt.

Just one quick question: You

moved the resolution.

Did anyone second.

MEMBER WILLIAMS: I seconded.

I was muted.

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CHAIRMAN KESSEL: It was Tim

Williams.

MR. KOUMAROMI: Thank you,

Tim.

MEMBER WILLIAMS: I'm sorry I

didn't say before, just really

quickly, Richie: You know, if

anybody like myself who is a parent

of children with special needs, I

think what the school and all

schools just like it in Nassau

County are doing is fantastic and I

think, I can't thank you, even

though my kids didn't go to

Hagedorn, for all the special

education teachers all throughout

Long Island and at Hagedorn, I

can't thank you enough.


Tim. I appreciate that and I'm

sure the Hagedorn team does as

well.

Any other comments before we

move on.

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(No response.)

CHAIRMAN KESSEL: This is the

only final approval that we have

LEAC-wise.

We now have a preliminary

resolution by SCO Family of

Services and I would ask if they

would now make a preliminary

presentation to the board.


if you could just give me one

minute so we can close the circuits

for the folks from Hagedorn and

just make sure we have everybody

from SCO, it just takes us a moment

to do that.

CHAIRMAN KESSEL: Sure.

Thank you.

MS. FEE: I would ask the SCO

members to unmute themselves and

share their video if they wish.

(Whereupon, there was a pause

in the proceedings.)

CEO COGHLAN: Okay. At this

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point it looks like we have Melissa

Bennett, Stephen Mack, Suzette

Gordon, Brad Hopper from SCO, so

you may begin with your

presentation.

MR. MACK: Hi, good evening.

This is Stephen Mack. I am the

Executive Vice President for

finance and administration and the

chief financial officer at SCO.

Joining me as you just

announced is Suzette Gordon, our

general counsel; Brad Hopper our

placement agent; and Melissa

Bennett who is our attorney.

If you can, Catherine, if you

can move to the next slide, please.

So for those unfamiliar with

SCO, SCO is New York State's

largest human service provider

organization. Every year we

operate more than 80 programs and

we serve 60,000 children and adults

every year addressing their

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developmental and mental

challenges, poverty, neglect, abuse

and programs we provide include

foster care, early childhood

education and youth development,

family and community supports,

shelter and homeless services as

well as services for individuals

with special needs.

In total we employ

approximately 3,500 people at 120

locations throughout Brooklyn,

Queens, The Bronx, Nassau and

Suffolk Counties. Not on a slide,

but our annual payroll is

approximately $128 million agency

wide.

Within Nassau County itself

we operate several programs

including a nine-acre campus in Sea

Cliff which is for adults and

children with developmental

disabilities as well as other

programs with varying social,

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emotional and mental health needs.

In total within Nassau County we

serve approximately a thousand

individuals a year.

Our main headquarters are

located in Glen Cove. And within

our Nassau County locations we have

approximately 570 employees and an

annual payroll within the county of

about $19 million.

Next slide, please.

So we are here today, we are

requesting an issuance of

$14.3 million of tax exempt bonds

with the related mortgage recording

tax exemption. The purpose of this

issuance would be to refinance 2013

Nassau County LEAC bonds of

approximately $7 million; refinance

a line of credit that was used to

provide improvements to our

locations within the county; as

well as finance new capital

renovations at Sea Cliff at our Sea

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Cliff campus.

Lastly we are asking this

issuance would allow us to create a

master trust indenture which would

allow us to more efficiently add

debt in the future.

Should there be any savings

from our issuance, this would allow

us to operate our programs at a

more efficient cost which is

important for an agency like us

which is predominantly government

funded.

On the next slide you will

see just some pictures of some of

our clients and staff at some of

our programs that we operate within

the county. I know that slide

takes a little bit long to load

because of the pictures. But all

these individuals are served within

the county at our varying

locations.

With that I will turn it back

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to the board.


First, do any board members

have any questions about SCO or the

application.

(No response.)

CHAIRMAN KESSEL: Couple of

points: First of all for the

public, this is a preliminary

presentation and the process that

we follow in this is pretty similar

to the IDA, that a vote this

evening is not approval of the

project, it is only authorization

for our staff to negotiate a

package with SCO. At a later date

there will be a public hearing

where the public can participate

and then this will come back to the

LEAC board at a future LEAC meeting

for another brief presentation.

Again, public comment is welcome,

and then there would be a final

vote at that time.

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Just to indicate, I am very

impressed with the work that SCO

does. I happen to also -- and I

mentioned this the other day -- I

happen to chair the board of the

Education and Assistance

Corporation, EAC. It's a large

nonprofit and I know how important

nonprofits are especially during

these difficult times.

The fact that this is a

refinancing to hopefully save some

money and make it easier to provide

better programming and more

programming to your constituency is

again, a very appropriate matter

for our assistance corporation.

Any time, especially in times of

trouble like this, that we can help

a nonprofit especially one like

yours, it's a very large one, the

ability to expand and improve, I

think that's the whole purpose of

LEAC and so I commend you for that.

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Obviously we will go through the

process.

And with that, I ask if any

member of the public has a question

about SCO Family Services or this

application at this time.

(No response.)

CHAIRMAN KESSEL: Okay.

Hearing none, so we will vote.

Again, this is just for a

preliminary inducement, it is not

final approval.

I will make the motion to

approve a preliminary inducement

for SCO Family of Services.

Is there a second.

VICE CHAIRMAN WARREN: I will

second, Chairman Kessel, Lewis

Warren.

CHAIRMAN KESSEL: Lewis,

thank you.



the affirmative.)

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CHAIRMAN KESSEL: Adopted

unanimously by the LEAC board.

Thank you.

We now have the minutes of

our last LEAC board meting that was

held on April 7th.

First, do I hear a motion to

approve those minutes.

SECRETARY FUSCO: I will make

a motion to adopt those minutes,

Chris Fusco.

SECOND VICE CHAIRMAN SIMON:

I'll second, Anthony Simon.

CHAIRMAN KESSEL: Are there

any corrections or changes to those

minutes by any board member?

(No response.)

CHAIRMAN KESSEL: Seeing

none, all those in favor of

adopting the minutes indicate by

saying aye.

In fact, let me do a roll

call quickly.


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the affirmative.)


the minutes are adopted.

Now we have a Treasurer's

report. Is Anne LaMorte, our new

CFO -- by the way, Anne, welcome,

it's great to have Anne LaMorte on

board. I think this is the first

meeting that she is actively

participating in. Anne has done a

great job in Glen Cove, and in fact

councilwoman Marsha Silverman, one

of my good friends, told me she was

very upset that we stole her from

Glen Cove but Glen Cove's loss is

our gain.

So Anne, are you going to

give the Treasurer's report for

LEAC.

MS. LaMORTE: Thank you.

Okay. Good evening, everyone.

If I can ask the board

members to please go to their

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dropbox and click on the Nassau

County LEAC 2020 Treasurer's

Report.

Are you with me.

CHAIRMAN KESSEL: Yes.

MS. LaMORTE: So if we take a

look at the revenue section, we are

currently not recognizing any

closing fee income to date;

however, we do have three projects

in the pipeline and we feel that

these projects will close this year

and we will make our revenue

numbers.

We received all the annual

income payments for last year from

all the projects which was good and

we head into the expense section.

There is nothing really out of the

ordinary here for professional

fees, that was the balance of the

audit.

And if you look at the bottom

of the April column you will see

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the cash position as of April 30th.

Does anyone have any

questions or comments about the

LEAC Treasurer's report.

(No response.)

CEO COGHLAN: Thank you,

Anne.


Anne.

Is there any other business

that any board member of LEAC

wishes to bring up at this time.

(No response.)

CHAIRMAN KESSEL: Hearing

none, do I hear a motion to

adjourn?

MEMBER WILLIAMS: Tim

Williams, I make a motion to

adjourn.

CHAIRMAN KESSEL: Is there a

second?

VICE CHAIRMAN WARREN: Lewis

Warren seconds.

CHAIRMAN KESSEL: I think we

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can do a voice vote here.

All those in favor indicate

by saying aye.



the affirmative.)

CHAIRMAN KESSEL: Any

opposed? Any abstentions?

(No response.)

CHAIRMAN KESSEL: Okay. The

LEAC meeting is adjourned. We will

now take a brief two minute pause

so we can get set for our IDA

meeting.

CEO COGHLAN: Ladies and

gentlemen, this concludes the

meeting of the Board of Directors

of the Nassau County Local Economic

Assistance Corporation. The time

is now 6:57.

As the chairman said, we need

just a moment to convert over to

the IDA which will be conducting a

little bit passed our scheduled

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6:45 start time. Please bear with

us and we will get right back to

it.

* * *

CEO COGHLAN: Good evening.

My name is Harry Coghlan. I am the

Chief Executive Officer of the

Nassau County Industrial

Development Agency and on behalf of

our Chairman, members of the board

and staff I welcome you to today's

open meeting of the Board of

Directors.

Today is May 7, 2020 and the

time is now 6:58 P.M.

The ongoing COVID-19 public

health crisis and related executive

orders of Governor Andrew Cuomo,

this public meeting is being

conducted using telephone

conference and video conference.

Participants have access to

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this public meeting through a Zoom

invitation on the Nassau County

Industrial Development Agency's

website at NassauIDA.org or by

watching our livestream on our

YouTube channel which can be found

at NassauIDAlive.org.

If you are participating via

Zoom the agency encourages all

interested parties to participate

and as such has reserved certain

points in today's meeting for

public comment. If you choose to

make a comment you will do so by

selecting the "raised hand" button

on your screen. If you are viewing


"raise hand" button will appear on

the bottom of your screen in the

middle upon moving your cursor to

that location. If you are viewing

the hearing on a tablet, the "raise

hand" button is at the top right

corner of your screen.

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Once you check the "raise

hand" button you will have an


is announced. Please note that

this is a moderated Zoom meeting

and at times you may hear us

talking to our moderator, Catherine

Fee, Chief Marketing Officer and

Director of Development for the

agency.

Please note that this hearing

is being both livestreamed and

recorded. You can also view this

hearing by going to our website at

NassauIDA.org. Go to the stop of

the screen, select "watch meetings"

and you can watch the livestream.

Please note that we have a

stenographer attending this meeting

in addition to being recorded. The

stenographer will be transcribing

the hearing so we can add the

transcript of this meeting to the

public record.

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Interested parties may also

submit written comments to the

agency which will be included

within the public meeting record.

Written comments may be sent to the

Nassau County Industrial

Development Agency located at One

West Street, fourth floor, Mineola,

New York 11501 to my attention,

Harry Coghlan, Chief Executive

Officer, or also via email at

NassauIDA.org.

Mr. Chairman, I now turn to

you to commence the meeting with

the Pledge of Allegiance.


I ask everyone to rise in place

where they are and I ask Tim

Williams to lead us in the Pledge

of Allegiance.

(Pledge of Allegiance.)


everyone.

Before we begin, we ask the

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board and anyone viewing this for a

moment of silence. Obviously, we

are going through very difficult

times right now here in our county,

in the region, in the state and in

the nation, and, unfortunately, the

COVID virus has taken the lives of

many residents of the county, of

the state and of our nation, and I

think everyone is praying for

that -- that for the people that

were lost and also for the people

who are still sick to get better,

and so I would ask for a moment of

silence to pray for the people, may

they rest in peace, and to pray for

everyone else that they get

healthy, stay healthy.

Please, a moment of silence.

(Moment of silence.)

CHAIRMAN KESSEL: Thank you

very much. I appreciate that.

Let's do a board roll call. Just

for, again, the public, because I

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know sometimes this gets confusing,

this is now the roll call of the

IDA, which is the same board as the

Local Economic Assistance

Corporation.

Richard Kessel.

MEMBER FLORES: Amy Flores.

MEMBER SIMON: Anthony Simon.

MEMBER WILLIAMS: Tim

Williams.

MEMBER COUMATOS: John

Coumatos. MEMBER WARREN:

Lewis Warren.

CHAIRMAN KESSEL: Okay, we

have a quorum. And again, I want

to thank the board. We have

everyone present, so the time now

is for my report. I will try to

keep it relatively brief, and then

I am going to ask Harry Coghlan,

our CEO, to issue his report.

First, I just want to thank

the board again. I hope you don't

mind, but I just want to say that

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I'm delighted that Tim, who missed

last time's meeting, is back. He

looks a little different, but he's

a good-looking guy, but I'm really

heart warmed by you being back and

participating in this meeting, Tim.

It means a lot to all of us.

MEMBER WILLIAMS: Thank you,

and thank everybody for their

e-mails and prayers and messages

and texts. I'm really, really,

really, really, we can't -- we

appreciate it tremendously.


Really great to have you back, and

I also, before I give a couple of

items here, I want to thank our

staff. You know, these are very

difficult times, we're all not

together, and, you know, I just

sent Catherine a note, you know,

just the way she handled putting

all of this together, working with

Danielle, our chief operating

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officer, working with Harry and all

our support staff, Tom Glascock,

our attorneys. You can't express

enough how challenging this is and

what a great job that they do, and

I can tell you, the IDA, for me, is

almost a full-time job, and I

couldn't do any of this without the

work that our staff has done,

putting this meeting together,

putting the hearings together,

figuring out how to get the public

involved, doing all the staff work

that's required.

I told our County Executive

Laura Curran yesterday and her

staff, Evlyn Tsimis, who does a

great job as Deputy County

Executive For Economic Development,

we couldn't do it without our staff

and the great work that they're

doing. It's just every day and I

see it every day, and to be able to

do it remotely and yet it all comes

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together is just an honor to work

with all of you, and I want to

thank you really for the great work

you do on behalf of the county and

the taxpayers and our board. Thank

you very much.

MS. FEE: Thank you, Rich.


A couple of thoughts of

interest to me. One is that, you

know, one of the -- this is a great

challenging time, and in the work

that Harry and I have been doing

along with Stu Rabinowitz and our

economic advisory council to the

county executive, the county

executive staff, it's very clear

that businesses are going to be

challenged tremendously coming back

when hopefully they do in the near

future. This is going to be a real

challenge, and the economic

advisory council that we have

formed is working very hard to get

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us ready for that future.

I will tell you that in the

survey that we're doing, I'm deeply

concerned especially about our

small business community out there,

and in that regard, it's somewhat

challenging that under current law

the IDA is not able to, except in

very limited circumstances, help

assist small businesses, and, you

know, I think that this is a time

of crisis where the IDA could be a

great assistance to small

businesses helping them to reopen.

And in that regard I have spoken to

our economic advisory council. I

have spoken to representatives of

the regional economic development

council and Laura Curran and her

staff, our county executive, about

urging Albany, in particular, the

governor and his staff -- I think

the governor has done an

extraordinary job under very

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difficult circumstances -- if they

would consider giving, at least

temporarily, expanded powers for

the IDAs in this state to be able

to assist small businesses recover

from this tragedy.

Tim I hope will jump in here.

We were talking a few minutes

before the board meeting about what

happened after Super Storm Sandy

and what the IDAs were given the

ability to do.

I understand that there are

people who have concerns about IDAs

and it's very difficult to grant

them expanded powers, so we're not

looking for any expanded powers.

What we're really looking for is

the ability to be able to, on a

temporary basis, whether it's six

months, nine months or a year,

assist retail in recovering and

being able to reopen and survive a

very challenging time.

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I will say that Ryan Silva

and the association of IDAs and

economic development councils have

been supporting this. We are

lending our voice, the county

executive is lending her voice. I

know that the REDCs, especially the

one for this region, is lending its

voice, but as an IDA I think that

we want the ability to help small

businesses.

The county executive and

myself and Harry and some of our

other economic advisory people had

a call last week with the local

chambers of commerce, the

leadership of almost every chamber

of commerce. They need help.

By the way, if it's one thing

that they need more than anything,

other than probably a lot of money,

which, obviously, we can't afford

to give, is PPE for their employees

and for their customers, whether

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it's masks, gloves, hand

sanitizers, and a lot of them need

that and either can't access or

can't afford to access it. If we

had the ability to provide that to

some of these small businesses I

think it would be an extraordinary

help in getting them to reopen and

succeed.

So I wanted to tell the board

that we are working very hard to

see if we can get Albany and state

government to give us this ability

along with the other IDAs in the

state.

I will tell you that some of

the IDAs in this state have a lot

of cash on hand. We don't have as

much. We have some, but some have

millions of dollars, and some of

that money can be used to help

small business people reopen and

survive, and I'm hopeful that we

can get that authority quickly so

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that we could utilize it.

In that regard I also want to

make a point that we are working

with our legal team, and, again, I

want to thank Andrew and Tom Garry

and also Tom Glascock, our counsel,

for their help.

We are looking at ways that

we may be able to do this initially

with other funding that is given to

the IDA, not our funding, but

funding that we may be able to

receive in the form of a grant and

whether legally we could spend that

money to help these small

businesses. I don't have an answer

yet, but it's something that we're

looking for, and I will report back

to the board as quickly as

possible. It's my hope that some

of our business community will be

able to start reopening soon, and

the challenge is to be able to

reopen and then be able to get

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43

their customers back, because right

now people are afraid and it's not

going to be easy, and anything that

the IDA or the county can do to

help them reopen and reengage their

customers is critically important.

So I'm working with Harry and

the county executive's staff.

We've got some ideas about ways

that we may be able to help them in

addition to financially, and,

again, I will report that back to

the board at the appropriate time

as well. IDAs can be very useful

at this point.

And I do want to make a

separate point that we want

projects. We encourage developers

to come to us and help us get jobs

for people. I will tell you in

talking to Matty Aracich of the

building trades and some of our

board members, we need construction

jobs this summer and fall. A lot

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of the trades and union people are

out of work and the more projects

we get and we can approve on an

expeditious basis, the more jobs

will be available in the

construction area once the ability

to do that kind of construction is

granted, and I'm expecting that to

start relatively soon.

And so the more projects that

we can intake now the better off

our brothers and sisters who need

work can get work over the summer.

Yes, our projects are about

jobs for the long-term but right

now we also need jobs for the

short-term, and so I want to

encourage developers and those

people that are listening out

there, if you've got a project, big

or small, bring it to Nassau

County. We're welcome and we will

move as quickly as possible and

accommodate as quickly as possible

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any project that comes to us that

brings jobs and construction jobs

as well.

I also want to indicate that

a number of our businesses and

clients of the IDA, current

clients, which I think are over

150, are being challenged as well

at this particular time. And it

may be that some of them are going

to have difficulties making their

commitments, whether it's on jobs

or other aspects of that and, you

know, while we've indicated in the

past that we have to hold our

clients to the commitments that

were made with them, and this could

go back years, we recognize the

fact that right now in this current

climate that may be very

challenging for some of them, so I

want to indicate that Harry and

myself are sending an e-mail to all

existing IDA clients indicating to

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them that if they have challenges

and they have some complex problems

that they should get in touch with

us immediately or over time and we

will be glad to discuss that with

them. We have a heart and we have

to have some understanding of the

climate that we're in right now.

And, again, while we can't

let the floodgates open up and we

have to hold companies to the

commitments that we made, we also

have to have compassion and

understanding during these

difficult times, and I'd rather if

your company and you're a client of

the IDA and you know right now that

you're going to have difficulties

going forward, please come to us,

we don't need to come to you, and

we will listen.

I will tell you personally as

chairman of the board I will talk

to anyone of you and with staff,

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with Harry, Danielle and our staff,

we will work with you to make sure

that you survive and that your

employees keep working. That is so

important to us. So I just wanted

to indicate to the board, and I'm

sure that we all feel the same way,

that we not only want to help new

businesses but we also want to help

those businesses that we are

currently engaged in with to make

sure that they're whole and that

they understand that they can come

to us if they've got concerns and

we will help you. I promise that.

With that, I'll end my report

and ask Harry, our CEO, to give his

report, and then I am going to ask

our board members if any of them

would like to make any comments as

well.

Harry, thank you.

CEO COGHLAN: Thank you,

Mr. Chairman. And as you and I

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agreed, we wanted to make sure we

took a moment in our joint remarks

and say thank you and express our

gratitude to our frontline workers,

whether they be grocery store

workers, transit workers, frontline

people in the health care industry,

first responders, police, fire,

everybody who's active right now in

making sure that we continue to

operate as best we can as a county

and a community. We do express our

thanks to all of you and really do

appreciate your sacrifice during

this critical time.

Mr. Chairman, I'll be brief

in my remarks. I just want to do a

quick staff roll call. Today we

have with us, in addition to

myself, today we have our chief

operating officer, Danielle

Oglesby; our chief marketing

officer, Catherine Fee; chief

finance officer, Anne LaMorte; our

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administrative director, Colleen

Pereira; our compliance assistant,

Carlene Winter and our

administrative assistant, Nicole

Gil and also Kevin Murphy.

I just wanted to let you know

how much we appreciate their effort

not only in this meeting but also

in general as best can be.

Right now it is business as

usual at the agency and with the

LEAC. So we are continuing to

drive business forward. We've had

three public hearings this week and

as best we can we are conducting

normal business operations, albeit

remotely.

You've already mentioned the

economic advisory council. This

agency has been supporting the

county executive's efforts. We did

conclude the agreement with HR&A,

which was approved by resolution at

the last board meeting. We did

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receive their baseline economic

report, which was what was the

economic situation pre-COVID. We

are awaiting their impact scenario,

which we expect at some point late

next week.

We've had numerous meetings

with the advisory council working

groups, HR&A, Nassau County

Economic Development as well as

Suffolk County on recovery

initiatives.

As the chairman said, we are

going to do everything we can to

find ways in which the IDA can be

supportive. We've had discussions

on numerous public recovery support

initiatives, which are still t/b/d,

but, as the chairman said, given

that this great agency's resources

are limited and we must work within

New York State guidelines for being

judicious on whatever programs we

may develop.

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You will find in your drop

box over to My Comments that we

have been very active on COVID

response on social media as well as

providing resources on our website.

I have given you a report of our

social media activity in the last

30 days should you wish to see how

we are reaching out to the

community and keeping everybody

abreast of current issues.

We have commenced the

strategic review brand identity and

website redesign initiative. We

concluded those agreements with

both Camoin Associates and

Millennium Communications as was

approved by resolution at the last

board meeting.

We commenced that project

with a kickoff meeting with both.

We developed a stakeholder

interview list and invited

participants. We commenced the

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stakeholder interviews, and there

is an upcoming board presentation

and interviews.

I just want to thank members

of the board for giving your time

to speak to these consultants as

your point of view will be

important to frame out the future

direction of the agency. We have

negotiated scope of work with fees

with Zimmerman, Edelson, and we

have received a grant award from

National Grid in the amount of

$50,000 for brand identity and web

redesign which will offset the cost

of those projects for the agency,

and you will see a resolution later

in today's agenda to approve that

receipt of grant.

Catherine, if we can just

show the next slide? I just want

to, again, I'm really warmed by the

response from our member

communities and our companies. As

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the chairman said --

Catherine, I'm looking for

the next slide. Thank you.

-- as the chairman said, our

own companies, our client partners

number 150, and we've seen them

jumping in here, they've been

calling us offering support.

Here's one example of Misha from

Supreme Screw, CEO there. He

purchased face masks and face

shields for his staff. When

they're working he had excess and

he reached out to us and he ended

up making a donation to the Office

of Emergency Management of those

face masks. So it's really great

to see our community coming

together during this critical time.

Are there any -- that

concludes my report.

Are there any questions or

comments from the board at this

time before we move into other

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comments?

MEMBER WILLIAMS: I'm sorry.

I had it on mute again. I'll get

the hang of this soon.

So I just wanted to say thank

you again to everybody for -- so if

you don't know, my wife and I both

were sick for over a month, and

hence, why I have all this hair and

why I'm wearing a hat because I

haven't cut my hair, but we're

doing much better.

I know everybody's been

affected, family members, both sick

and who have -- who have passed,

and my heart goes out to everyone,

but I'm -- I am incredibly grateful

for all the text messages, as I

said earlier, and calls, and if I

didn't get a chance to call you

back or text you back, know that I

greatly appreciate it and thank

you.

I also want to especially

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thank Evlyn. I don't know if

Evlyn's on the call, but if she

isn't I owe her a big call.

Right before I got sick,

actually, a couple of days, as many

of you know, I serve on the board

for a small nonprofit agency in

Hempstead and Baldwin, and we have

two homes that house adults with

disabilities, and one home is in

Baldwin, one home is in Uniondale.

And one of the persons got sick and

we needed PPE equipment for the

staff and we couldn't get it, and

no matter how much we tried it

became very difficult.

Obviously, this is a

population of

developmentally-disabled adults who

can't care for themselves full

time. We need staff. Staff was

getting concerned and afraid

because people were getting sick,

and Evlyn made calls, reached out

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and she made sure that we got --

the company got what they needed,

and so I am incredibly grateful.

The families who placed their loved

ones in those homes are incredibly

grateful, so I wanted to publicly

thank her and privately as well and

give her a call and then -- and

quickly, and I also want to thank

and I agree with everything that

Harry said and Richie said, all the

businesses that keep paying their

employees, even though they're

staying home and even the

businesses that can't continue to

pay their employees, I am -- I

think this in any crisis, this

brings out the best of us, and I

think this shows it just like other

crises we've gone through brings

out the best in everyone, and so I

know a bunch of businesses have

been paying their employees and

they don't even have revenue coming

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in. I know a bunch of CEOs who are

using their personal money to

continue to pay their employees,

and I think that's fantastic, and I

hope that this ends soon and

everybody can go back.

I think relevant to what

Harry and Richie were saying about

economic assistance, I think one of

the most important things we need

to start talking about is going to

be debt forgiveness and working

with some of the lenders.

More debt is not going to be

the absolute answer for everybody.

More debt is just going to hurt a

lot of people, and so I think we

should have some dialogue with

lenders about how we help some of

the small businesses who may need

more debt but can barely pay the

debt they have. We saw that right

after Sandy, businesses went into

additional debt and a lot of them

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are not around today anymore

because they couldn't survive it.

So while we're talking,

Harry, you know I think it would be

a great idea. I think we've got a

lot of banking partners. I think

there are a lot of banks that

operate here in the county. I

think there are a bunch of things

we can do getting a commitment from

them to lend but also a commitment

from them of how they will address

the businesses that are suffering,

because it's going to trickle

uphill. If you can't open - just

to use as an example - a

restaurant, the owner can't make

any money, he can't pay his rent.

If he can't pay his rent, the

landlord can't pay his mortgage,

and it trickles down as well as up,

and I think if we start talking now

with some of the banks, hopefully,

we can have an impact on that.

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Tim, and I think it's an excellent

idea, and I'd like to ask if you

and Lewis Warren and Amy would work

with Harry and our staff to see

what we could do to be helpful in

that area. I think it's a terrific

idea.

MEMBER WILLIAMS: Sure, I'll

be happy to.

MEMBER FLORES: Absolutely.

CHAIRMAN KESSEL: Does any

other board member want to make any

comment at this time about any

matter?


if I may?

CHAIRMAN KESSEL: Yes.

CEO COGHLAN: At this time we

will open the meeting for public

comment.

As a reminder, this period is

for general public comment. There

will also be an opportunity to

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60

comment after each project

presentation. Again, if you choose

to make a comment you will do so by

selecting the Raise Hand button on

your screen. If you are viewing


Raise Hand button will appear at

the bottom of your screen. If you

are viewing it on a tablet, the

Raise Hand button is on the top

right.

Once you select the Raise

Hand button you will have the


is announced. It is requested that

remarks be limited to three minutes

per speaker. Please state your

full name with spelling and address

for the record, and at this point I

will ask Ms. Fee to check the queue

and open up microphones by

individual in order in which their

hands are raised, and I do see one

raised hand from Matthew Aracich.

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nassau county industrial development ida (“ida”) agenda · 2020. 5. 5. · d1a (rev) 5-26-2020...

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