County Funding Amendment Resolution — County-Funding-Amendment-Resolution.pdf

RESOLUTION
A regular meeting of the Onondaga County Industrial Development Agency convened in
public session on November 8, 2022, at 8:00 a.m., local time at 333 West Washington Street,
Syracuse, New York.
The meeting was called to order by the (Vice) Chairman of the Agency and, upon roll being
called, the following members of the Agency were:
PRESENT: Patrick Hogan
Janice Herzog
Susan Stanezyk
Kevin Ryan
Fanny Villarreal
ABSENT: Victor Ianno
Steve Morgan
ALSO PRESENT: Robert M. Petrovich, Executive Director
Jeffrey W. Davis, Esq., Agency Counsel
The following resolution was offered by Janice Herzog, seconded by Fanny Villarreal, to
wit:

RESOLUTION AUTHORIZING NEGOTIATION,
EXECUTION AND DELIVERY OF A_ CERTAIN
AMENDMENT TO AN AGREEMENT WITH THE COUNTY
OF ONONDAGA
WHEREAS, Onondaga 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 1 of Article 18-A of the General Municipal Law, Chapter 24 of the Consolidated
Laws of New York, as amended (the “Enabling Act”), Chapter 435 of the Laws of 1970 of the State
of New York and Chapter 676 of the Laws of 1975 of the State of New York, as amended (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, warehousing, research, commercial and
industrial 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 (the “State”), to improve
their prosperity and standard of living, and to prevent unemployment and economic deterioration;
and

WHEREAS, on August 3, 2021, the County Legislature of Onondaga County (the “County
Legislature”) adopted a resolution authorizing the County Executive to enter into loan agreements
and contracts necessary to effectuate providing a loan to the Agency on an as-needed basis
pursuant to a revolving loan program in a total amount not to exceed $20,000,000 (the “Loan”), to
25399920.2
expand and improve asset development in Onondaga County (the “County”) in order to enable the
Agency to market properties to a larger more diverse mix of potential industrial and commercial
developers by making various project sites more attractive to a broader scope of industries and
bringing high tech and high paying jobs to the County; and
WHEREAS, on October 10, 2021 the Agency authorized the Executive Director to
negotiate and enter into a loan agreement with the County in to effectuate the Loan with the County
and pursuant thereto the County and the Agency executed an Optional Advance Limited Recourse
Demand Promissory Grid Note (the “Agreement”) for the Loan; and

WHEREAS, pursuant Onondaga County Legislature Resolution No. 151-2022, the County
Legislature authorized the County Executive to provide up to twenty-five million dollars
($25,000,000) in additional funding to the Agency (the “Additional Funds”), from the American
Rescue Plan Act grant award funds of the County, in order to provide funding for certain of the
Agency’s services and expenses with respect to the Agency work at the Agency’s White Pine
Commerce Park (the “White Pine Project”); and
WHEREAS, given the time-sensitive need of the Agency to receive the Additional Funds
in order to use certain of the Additional Funds for certain time-sensitive actions of the Agency
with respect to the White Pine Project, the Executive Director, with the advice of counsel to the
Agency, executed an amendment to the Agreement with respect to the additional $25,000,000 in
funds being provided by the County to the Agency (the “Agreement Amendment”) prior to the
date hereof; and
WHEREAS, the members of the Agency desire to ratify the execution by the Executive
Director of the Agreement Amendment.

NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF THE ONONDAGA
COUNTY INDUSTRIAL DEVELOPMENT AGENCY AS FOLLOWS:
Section 1. It is the policy of the State to promote the economic welfare, recreation
opportunities and prosperity of its inhabitants and to actively promote, attract, encourage and
develop recreation and economically sound commerce and industry for the purpose of preventing
unemployment and economic deterioration. It is among the purposes of the Agency to promote,
develop, encourage and assist in the acquiring, constructing, improving, maintaining, equipping
and furnishing of certain facilities, including commercial facilities, and thereby advance the job
opportunities, health, general prosperity and economic welfare of the people of the State and to
improve their recreation opportunities, prosperity and standard of living.
Section 2. Recognizing the importance to the ongoing success of the White Pine
Project of the time-sensitive need of the Agency to receive the Additional Funds in order to use
certain of the Additional Funds for certain time-sensitive actions of the Agency with respect to the
White Pine Project, the Agency hereby ratifies the execution by the Executive Director of the
Agreement Amendment.
Section 3. The Chairman, Vice Chairman and/or Executive Director of the Agency are
hereby authorized and directed to distribute copies of this Resolution and to do such further things
25399920.2

or perform such acts as may be necessary or convenient to implement the provisions of this
Resolution.
Section 4. This Resolution shall take effect immediately.
25399920,2
The question of the adoption of the foregoing Resolution was duly put to a vote on roll call,
which resulted as follows:

AYE NAY ABSENT
Patrick Hogan x
Janice Herzog x
Victor Ianno x
Steve Morgan
Susan Stanezyk
Kevin Ryan
Fanny Villarreal
The Resolution was thereupon declared duly adopted.
25399920.2

STATE OF NEW YORK )
) ss.:
COUNTY OF ONONDAGA )
I, the undersigned Secretary of the Onondaga County Industrial Development Agency, DO
HEREBY CERTIFY that I have compared the foregoing extract of the minutes of the meeting of
the members of the Agency, including the Resolution contained therein, held on November 8,
2022, with the original thereof on file in my office, and that the same is a true and correct copy of
such proceedings of the Agency and of such Resolution set forth therein and of the whole of said
original so far as the same relates to the subject matter therein referred to.
I 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 7 of the Public Officers Law
(the “Open Meetings Law”), 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.
I 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, I have hereunto set my hand this _Gaay of November, 2022.
Kaw. Kay
(SEAL) Secretary a O
25399920.2