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PHONE: 315.435.3770 FAX: 315.435.3669 ONGOVED.COM Regular Meeting Agenda March 8, 2022
PHONE: 315.435.3770 FAX: 315.435.3669 ONGOVED.COM Regular Meeting Agenda March 8, 2022
8:05 AM Annual Meeting 8:10 AM Call to Order the Meeting of the Agency
Action Items 1. Audit from Grossman St. Amour Page 23 Presentation of Audit to the Board Agency Action Requested:
a. A Resolution of the Board approving the 2021 Audit of the Agency.
Representative: Mike Lisson, Auditor, Grossman St. Amour 2. B & N Real Estate Holdings of CNY, LLC PILOT to Crossroads Park 4616, LLC and PDF Logistics, Inc. (3101-15-06A) Meeting to Modify B & N Real Estate Holdings of CNY, LLC is requesting the Board to consent to the sale of its interests in the Project Facility. Page 67 Agency Action Requested:
a. A resolution of the Board approving the assignment of the right, title and interest in a Project Facility by B & N Real Estate Holdings of CNY, LLC to Crossroads Park 4616, LLC and PDF Logistics, Inc.
Representative: Mark Levy- Scolaro, Fetter, Grizanti & McGough, P.C
8:05 AM Annual Meeting 8:10 AM Call to Order the Meeting of the Agency
Action Items 1. Audit from Grossman St. Amour Page 23 Presentation of Audit to the Board Agency Action Requested:
a. A Resolution of the Board approving the 2021 Audit of the Agency.
Representative: Mike Lisson, Auditor, Grossman St. Amour 2. B & N Real Estate Holdings of CNY, LLC PILOT to Crossroads Park 4616, LLC and PDF Logistics, Inc. (3101-15-06A) Meeting to Modify B & N Real Estate Holdings of CNY, LLC is requesting the Board to consent to the sale of its interests in the Project Facility. Page 67 Agency Action Requested:
a. A resolution of the Board approving the assignment of the right, title and interest in a Project Facility by B & N Real Estate Holdings of CNY, LLC to Crossroads Park 4616, LLC and PDF Logistics, Inc.
Representative: Mark Levy- Scolaro, Fetter, Grizanti & McGough, P.C 3. Fayette Manlius, LLC (3101-22-01A) Second Meeting Page 68 Fayette Manlius, LLC is proposing a mixed used development at 332 Fayette Street in the Village of Manlius. The applicant is requesting exemptions from certain sales and use taxes, real property taxes, real estate transfer taxes and mortgage recording taxes.
Agency Action Requested:
a. A resolution of the Board to authorize adoption of SEQRA determination. b. A resolution of the Board authorizing the financial assistance the Agency will provide. Agency benefits requested include exemptions from certain real property taxes, real estate transfer taxes, sales and use taxes and mortgage recording taxes. Representative: Matthew Lester, Manager, Streamline Real Estate Partners, LLC & Christine Stevens, VIP Development Associates 4. J.W. Didado Electric, LLC/ G&R Morgan Road, LLC(3101-02-A)Initial Meeting G&R Morgan Road, LLC is proposing to construct a 24,000 square foot building in the Town of Clay. The applicant is requesting exemptions from certain sales and use taxes, real property taxes, real estate transfer taxes and mortgage recording taxes. Agency Action Requested: Page 222 a. A resolution of the Board to authorize a public hearing.
Representative: Genevieve Trigg, Company Counsel, Barclay Damon, LLP Adjourn 2 3. Fayette Manlius, LLC (3101-22-01A) Second Meeting Page 68 Fayette Manlius, LLC is proposing a mixed used development at 332 Fayette Street in the Village of Manlius. The applicant is requesting exemptions from certain sales and use taxes, real property taxes, real estate transfer taxes and mortgage recording taxes.
Agency Action Requested:
a. A resolution of the Board to authorize adoption of SEQRA determination. b. A resolution of the Board authorizing the financial assistance the Agency will provide. Agency benefits requested include exemptions from certain real property taxes, real estate transfer taxes, sales and use taxes and mortgage recording taxes. Representative: Matthew Lester, Manager, Streamline Real Estate Partners, LLC & Christine Stevens, VIP Development Associates 4. J.W. Didado Electric, LLC/ G&R Morgan Road, LLC(3101-02-A)Initial Meeting G&R Morgan Road, LLC is proposing to construct a 24,000 square foot building in the Town of Clay. The applicant is requesting exemptions from certain sales and use taxes, real property taxes, real estate transfer taxes and mortgage recording taxes. Agency Action Requested: Page 222 a. A resolution of the Board to authorize a public hearing.
Representative: Genevieve Trigg, Company Counsel, Barclay Damon, LLP Adjourn 2 Onondaga County Industrial Development Agency Regular Meeting Minutes February 8, 2022 A regular meeting of the Onondaga County Industrial Development Agency was held on Tuesday, February 8, 2022 at 333 West Washington Street, Syracuse, New York in the large conference room on the first floor.
Patrick Hogan called the meeting to order at 8:14 am with the following:
PRESENT:
Patrick Hogan Janice Herzog Victor Ianno Steve Morgan Susan Stanczyk Kevin Ryan
ABSENT:
Fanny Villarreal
ALSO PRESENT:
Robert M. Petrovich, Executive Director Nate Stevens, Treasurer Nancy Lowery, Secretary Karen Doster, Recording Secretary Jeff Davis, Barclay Damon Law Firm Amanda Fitzgerald, Barclay Damon Law Firm Samantha Podlas, Barclay Damon Law Firm Carolyn Evans-Dean, Office of Economic Development Leonard Rauch, Office of Economic Development Rebecca Shiroff, Office of Economic Development Carson Weinand, CVE Group Sam Wilks, IMS Inc.
Jim Gosier, Ultra Dairy, LLC Matt Lester, Fayette Manlius, LLC Christine Stevens, VIP Development Associates Joe Goethe, Hinsdale Road, LLC Christopher Andreucci, Harris Beach Law Firm APPROVAL OF REGULAR AND ORGANIZATIONAL MEETING MINUTES – JANUARY
Onondaga County Industrial Development Agency Regular Meeting Minutes February 8, 2022 A regular meeting of the Onondaga County Industrial Development Agency was held on Tuesday, February 8, 2022 at 333 West Washington Street, Syracuse, New York in the large conference room on the first floor.
Patrick Hogan called the meeting to order at 8:14 am with the following:
PRESENT:
Patrick Hogan Janice Herzog Victor Ianno Steve Morgan Susan Stanczyk Kevin Ryan
ABSENT:
Fanny Villarreal
ALSO PRESENT:
Robert M. Petrovich, Executive Director Nate Stevens, Treasurer Nancy Lowery, Secretary Karen Doster, Recording Secretary Jeff Davis, Barclay Damon Law Firm Amanda Fitzgerald, Barclay Damon Law Firm Samantha Podlas, Barclay Damon Law Firm Carolyn Evans-Dean, Office of Economic Development Leonard Rauch, Office of Economic Development Rebecca Shiroff, Office of Economic Development Carson Weinand, CVE Group Sam Wilks, IMS Inc.
Jim Gosier, Ultra Dairy, LLC Matt Lester, Fayette Manlius, LLC Christine Stevens, VIP Development Associates Joe Goethe, Hinsdale Road, LLC Christopher Andreucci, Harris Beach Law Firm APPROVAL OF REGULAR AND ORGANIZATIONAL MEETING MINUTES – JANUARY
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved the regular meeting minutes of January 18, 2022 and the organizational meeting minutes of January 18, 2022. Kevin Ryan abstained. Motion was carried.
TREASURER’S REPORT Nate Stevens gave a brief review of the Treasurer’s Report for the month of February 2022. Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved the Treasurer’s Report for the month of February 2022. Motion was carried.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved the regular meeting minutes of January 18, 2022 and the organizational meeting minutes of January 18, 2022. Kevin Ryan abstained. Motion was carried.
TREASURER’S REPORT Nate Stevens gave a brief review of the Treasurer’s Report for the month of February 2022. Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved the Treasurer’s Report for the month of February 2022. Motion was carried.
Nate Stevens gave a brief review of the Payment of Bills Schedule #466.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved the Payment of Bills Schedule #466 for $244,307.26 and PILOT payments to Onondaga County for $1,025,494.17, Town of Cicero for $37,946.62, Town of Clay for $12,381.00, Town of DeWitt for $78,596.11, Town of Elbridge for $88,241.00, Town of Geddes for $467.94, Town of Lysander for $90,770.00, Town of Salina for $95,801.91, Town of Skaneateles for $37,116.59, Town of Van Buren for $120,877.00, Village of Baldwinsville for $75,037.00, Village of Solvay for $3,722.99, Baldwinsville School District for $686,826.00, East Syracuse Minoa School District for $345,316.87, Jamesville Dewitt School District for $7,002.00, Jordan Elbridge School District for $478,438.00, Liverpool School District for $127,341.00, Lyncourt Union Free School District for $503,865.05, North Syracuse School District for $255,516.85, Skaneateles School District for $211,639.53, Solvay Union Free School District for $7,826.91, Syracuse City School District for $57,865.99 and West Genesee School District for $238,672.00. Motion was carried.
Nate Stevens gave a brief review of the Payment of Bills Schedule #466.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved the Payment of Bills Schedule #466 for $244,307.26 and PILOT payments to Onondaga County for $1,025,494.17, Town of Cicero for $37,946.62, Town of Clay for $12,381.00, Town of DeWitt for $78,596.11, Town of Elbridge for $88,241.00, Town of Geddes for $467.94, Town of Lysander for $90,770.00, Town of Salina for $95,801.91, Town of Skaneateles for $37,116.59, Town of Van Buren for $120,877.00, Village of Baldwinsville for $75,037.00, Village of Solvay for $3,722.99, Baldwinsville School District for $686,826.00, East Syracuse Minoa School District for $345,316.87, Jamesville Dewitt School District for $7,002.00, Jordan Elbridge School District for $478,438.00, Liverpool School District for $127,341.00, Lyncourt Union Free School District for $503,865.05, North Syracuse School District for $255,516.85, Skaneateles School District for $211,639.53, Solvay Union Free School District for $7,826.91, Syracuse City School District for $57,865.99 and West Genesee School District for $238,672.00. Motion was carried.
The Conflict of Interest was circulated and there were no conflicts reported.
The Conflict of Interest was circulated and there were no conflicts reported.
Patrick Hogan asked about the public hearing. Nancy Lowery stated the supervisor and a board member were in attendance and there was no objection to the project.
Carson Weinand stated the project is three co-located community solar projects located in the Town of Manlius. He stated two are 2.5 megawatts and one is 1 megawatt. He stated on October 25 they received site plan approval, special use permit and a SEQR negative declaration from the Town. He stated these projects are owned and operated by CVE and they plan to start construction this summer. He stated they have a PILOT in place with the School District and the Town. He stated they also have a Host Community Benefit Agreement with the Town and an Educational Contribution Agreement with the School District. He stated there will be about 35,000 panels and will deliver energy savings monthly to about 2,500 local residents to their utility bills.
Jeff Davis stated there are three SEQR resolutions and they are all similar. He stated as the
applicant stated the SEQR was done at the local level and counsel reviewed the materials. He stated the resolution before the Board is accepting, adopting and reauthorizing the SEQR resolution done at the local level.
Patrick Hogan asked about the public hearing. Nancy Lowery stated the supervisor and a board member were in attendance and there was no objection to the project.
Carson Weinand stated the project is three co-located community solar projects located in the Town of Manlius. He stated two are 2.5 megawatts and one is 1 megawatt. He stated on October 25 they received site plan approval, special use permit and a SEQR negative declaration from the Town. He stated these projects are owned and operated by CVE and they plan to start construction this summer. He stated they have a PILOT in place with the School District and the Town. He stated they also have a Host Community Benefit Agreement with the Town and an Educational Contribution Agreement with the School District. He stated there will be about 35,000 panels and will deliver energy savings monthly to about 2,500 local residents to their utility bills.
Jeff Davis stated there are three SEQR resolutions and they are all similar. He stated as the
applicant stated the SEQR was done at the local level and counsel reviewed the materials. He stated the resolution before the Board is accepting, adopting and reauthorizing the SEQR resolution done at the local level.
Patrick Hogan asked if it was CVE’s initiative to request a local PILOT agreement. Carson Weinand stated yes because they wanted the flexibility with the School District to execute an Educational Contribution Agreement and that is why they need separate PILOTs. Patrick Hogan stated he congratulates him on the initiative.
Upon a motion by Victor Ianno, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing adoption of SEQRA negative declaration determination for the CVE US EI4 Manlius North, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing the financial assistance the Agency will provide to include exemptions from certain sales and use taxes and mortgage recording taxes for the CVE US EI4 Manlius North, LLC project. Motion was carried.
Patrick Hogan asked if it was CVE’s initiative to request a local PILOT agreement. Carson Weinand stated yes because they wanted the flexibility with the School District to execute an Educational Contribution Agreement and that is why they need separate PILOTs. Patrick Hogan stated he congratulates him on the initiative.
Upon a motion by Victor Ianno, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing adoption of SEQRA negative declaration determination for the CVE US EI4 Manlius North, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing the financial assistance the Agency will provide to include exemptions from certain sales and use taxes and mortgage recording taxes for the CVE US EI4 Manlius North, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing adoption of SEQRA negative declaration determination for the CVE US EI5 Manlius East, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing the financial assistance the Agency will provide to include exemptions from certain sales and use taxes and mortgage recording taxes for the CVE US EI5 Manlius East, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing adoption of SEQRA negative declaration determination for the CVE US EI5 Manlius East, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing the financial assistance the Agency will provide to include exemptions from certain sales and use taxes and mortgage recording taxes for the CVE US EI5 Manlius East, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing adoption of SEQRA negative declaration determination for the CVE US EI6 Manlius West, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing the financial assistance the Agency will provide to include exemptions from certain sales and use taxes and mortgage recording taxes for the CVE US EI6 Manlius West, LLC project. Motion was carried.
MEETING.
Sam Wilks stated Immediate Mailing Services is looking to expand three buildings on Buckley Road. She stated the three buildings are being renovated for extra office space and extra warehousing for their supplies. She stated this is due to IMS expanding at a rapid rate. She stated they expanded in 2019 where they received aid from OCIDA and they have already grown past that so this is expansion number two. She stated hopefully this expansion is as successful as the last one.
Patrick Hogan asked if their other building is in the same general area. Sam Wilks stated they wanted to stay in the area and the building on Buckley Road was perfect for them. Patrick Hogan stated he likes to hear they want to stay local.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing adoption of SEQRA negative declaration determination for the CVE US EI6 Manlius West, LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing the financial assistance the Agency will provide to include exemptions from certain sales and use taxes and mortgage recording taxes for the CVE US EI6 Manlius West, LLC project. Motion was carried.
MEETING.
Sam Wilks stated Immediate Mailing Services is looking to expand three buildings on Buckley Road. She stated the three buildings are being renovated for extra office space and extra warehousing for their supplies. She stated this is due to IMS expanding at a rapid rate. She stated they expanded in 2019 where they received aid from OCIDA and they have already grown past that so this is expansion number two. She stated hopefully this expansion is as successful as the last one.
Patrick Hogan asked if their other building is in the same general area. Sam Wilks stated they wanted to stay in the area and the building on Buckley Road was perfect for them. Patrick Hogan stated he likes to hear they want to stay local.
Jeff Davis stated with regard to SEQR the resolution before the Board is just classifying this as a Class 2 Action meaning that it is categorically excluded from any further environmental review based upon the type of the project.
Nate Stevens stated a public hearing was held and there were no comments.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing adoption of SEQRA negative declaration determination for the Immediate Mailing Services, Inc./245 Commerce LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing the financial assistance the Agency will provide to include exemptions from certain sales and use taxes and mortgage recording taxes for the Immediate Mailing Services, Inc./245 Commerce LLC project. Motion was carried.
ULTRA DAIRY, LLC (3101-18-07F/3101-20-14G/3101-21-11H) MEETING TO MODIFY Jim Gosier stated Ultra Dairy is in the process of refinancing its credit facility to allow for further growth in the future and as part of that there is an existing mortgage on the property. He stated that mortgage itself will be recast and because of the sale leaseback arrangement with the Agency the lender is looking for a resolution of the Agency authorizing the transaction and also the executive director signing the mortgage document.
Jeff Davis stated with regard to SEQR the resolution before the Board is just classifying this as a Class 2 Action meaning that it is categorically excluded from any further environmental review based upon the type of the project.
Nate Stevens stated a public hearing was held and there were no comments.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing adoption of SEQRA negative declaration determination for the Immediate Mailing Services, Inc./245 Commerce LLC project. Motion was carried.
Upon a motion by Susan Stanczyk, seconded by Kevin Ryan, the OCIDA Board approved a resolution authorizing the financial assistance the Agency will provide to include exemptions from certain sales and use taxes and mortgage recording taxes for the Immediate Mailing Services, Inc./245 Commerce LLC project. Motion was carried.
ULTRA DAIRY, LLC (3101-18-07F/3101-20-14G/3101-21-11H) MEETING TO MODIFY Jim Gosier stated Ultra Dairy is in the process of refinancing its credit facility to allow for further growth in the future and as part of that there is an existing mortgage on the property. He stated that mortgage itself will be recast and because of the sale leaseback arrangement with the Agency the lender is looking for a resolution of the Agency authorizing the transaction and also the executive director signing the mortgage document.
Robert Petrovich stated there is a letter in the board packet from Ultra Dairy outlining the request and it is straight forward.
Upon a motion by Kevin Ryan, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing execution and delivery of documents for the Ultra Dairy, LLC project. Motion was carried.
Robert Petrovich stated there is a letter in the board packet from Ultra Dairy outlining the request and it is straight forward.
Upon a motion by Kevin Ryan, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing execution and delivery of documents for the Ultra Dairy, LLC project. Motion was carried.
Matt Lester stated he is the managing partner at Streamline Real Estate Partners LLC, the
applicant for this morning’s meeting. He stated they are presenting a project in Manlius that was started in the fall of 2020 so it has been a long process to get site plan approval which they currently have. He stated the project consists of a mixed use, nature, residential, urgent care and commercial. He stated the project has currently been accepted into the Brownfield program so they are working through the Brownfield cleanup process with the DEC and the Department of Health. He stated they are looking to provide a need that meets housing demand and creates jobs. He stated they feel they have a community benefit with Urgent Care because they have been a necessity for testing and alleviating pressure on emergency rooms and hospitals. He stated this is going to be an opportunity to fulfill a need that the Village of Manlius and the community has which has been expressed by the Mayor. He stated there will be 20 residential units as well as Urgent Care and some first floor commercial space.
Janice Herzog asked where the project is located. Matt Lester handed out a map of the location. Christine Stevens stated is located where the old car dealership was. Matt Lester stated the property has been vacant for roughly 4 years.
Matt Lester stated he is the managing partner at Streamline Real Estate Partners LLC, the
applicant for this morning’s meeting. He stated they are presenting a project in Manlius that was started in the fall of 2020 so it has been a long process to get site plan approval which they currently have. He stated the project consists of a mixed use, nature, residential, urgent care and commercial. He stated the project has currently been accepted into the Brownfield program so they are working through the Brownfield cleanup process with the DEC and the Department of Health. He stated they are looking to provide a need that meets housing demand and creates jobs. He stated they feel they have a community benefit with Urgent Care because they have been a necessity for testing and alleviating pressure on emergency rooms and hospitals. He stated this is going to be an opportunity to fulfill a need that the Village of Manlius and the community has which has been expressed by the Mayor. He stated there will be 20 residential units as well as Urgent Care and some first floor commercial space.
Janice Herzog asked where the project is located. Matt Lester handed out a map of the location. Christine Stevens stated is located where the old car dealership was. Matt Lester stated the property has been vacant for roughly 4 years.
Robert Petrovich asked if this is going to incorporate the two residential houses north of the project. Matt Lester stated yes and the project extends as far south as the dealership. Janice Herzog asked how from the road the project will be set back. Matt Lester stated it extends from the sidewalk to the creek. He stated through the Planning Board process the Village encouraged them to push the buildings as close to the sidewalk as possible to incorporate pedestrian connectivity. He stated they will be adding a gazebo on the property with extensive sidewalks with connectivity from the sidewalk to the Village.
Janice Herzog asked if it will be similar to the building across the street that used to be a bar/restaurant with apartments upstairs. Matt Lester stated he owns that property and that was done in 2014. He stated there is a pharmacy there as well as a Murphy’s Law but there was some issues with the restaurant but they were able to expand an office into the restaurant. Janice Herzog asked about the residency rate. Matt Lester stated they have a wait list and they have been full since day one. He stated they wished they had done more because there is a demand and a need. He stated the initial application for this project to the Village of Manlius did Robert Petrovich asked if this is going to incorporate the two residential houses north of the project. Matt Lester stated yes and the project extends as far south as the dealership. Janice Herzog asked how from the road the project will be set back. Matt Lester stated it extends from the sidewalk to the creek. He stated through the Planning Board process the Village encouraged them to push the buildings as close to the sidewalk as possible to incorporate pedestrian connectivity. He stated they will be adding a gazebo on the property with extensive sidewalks with connectivity from the sidewalk to the Village.
Janice Herzog asked if it will be similar to the building across the street that used to be a bar/restaurant with apartments upstairs. Matt Lester stated he owns that property and that was done in 2014. He stated there is a pharmacy there as well as a Murphy’s Law but there was some issues with the restaurant but they were able to expand an office into the restaurant. Janice Herzog asked about the residency rate. Matt Lester stated they have a wait list and they have been full since day one. He stated they wished they had done more because there is a demand and a need. He stated the initial application for this project to the Village of Manlius did not include this residential building. He stated it was something the Village required of them as part of the process. He stated the Village felt there was a need and wanted a larger scale project. He stated it created some challenges for them which led them to be before the Board today Robert Petrovich asked if these are one and two bedroom Apartments. Matt Lester stated they are a mix of one and two bedroom.
Robert Petrovich asked what the rents are. Matt Lester stated they are market rate. He stated they did a study and he believes they are going to be about $2,000 for the two bedroom and close to $2,000 for the single bedroom. He stated they a have not put together a leasing plan but it is in the application.
Janice Herzog asked how many apartments are in the building across the street. Matt Lester stated there are four.
Patrick Hogan stated occasionally there is an issue with housing as far PILOTs. He stated when you work with local officials and it is an infill project where there is demand for people who want to stay in the area, walkability plus cleaning up a Brownfield as well as Urgent Care, this is a project he would strongly support. He stated he has noticed over the years with his service on the LandBank, a lot of the older villages need infill projects. He stated he thinks this will be very attractive for the Village and he is happy Fayette Manlius, LLC worked with the Village officials on this. Matt Lester stated he appreciates that.
not include this residential building. He stated it was something the Village required of them as part of the process. He stated the Village felt there was a need and wanted a larger scale project. He stated it created some challenges for them which led them to be before the Board today Robert Petrovich asked if these are one and two bedroom Apartments. Matt Lester stated they are a mix of one and two bedroom.
Robert Petrovich asked what the rents are. Matt Lester stated they are market rate. He stated they did a study and he believes they are going to be about $2,000 for the two bedroom and close to $2,000 for the single bedroom. He stated they a have not put together a leasing plan but it is in the application.
Janice Herzog asked how many apartments are in the building across the street. Matt Lester stated there are four.
Patrick Hogan stated occasionally there is an issue with housing as far PILOTs. He stated when you work with local officials and it is an infill project where there is demand for people who want to stay in the area, walkability plus cleaning up a Brownfield as well as Urgent Care, this is a project he would strongly support. He stated he has noticed over the years with his service on the LandBank, a lot of the older villages need infill projects. He stated he thinks this will be very attractive for the Village and he is happy Fayette Manlius, LLC worked with the Village officials on this. Matt Lester stated he appreciates that.
Victor Ianno stated he agrees with Patrick Hogan and it cleans up an eyesore.
Susan Stanczyk asked if the PILOT is only for the mixed use building and not for the Well Now. Matt Lester stated yes.
Susan Stanczyk asked if the parking for the Well Now is separate from the actual residential building. Matt Lester stated there will be three individual lots. He stated the multistory building will be on its own tax parcel.
Susan Stanczyk stated the Well Now centers are going to be overflowing so that would be a concern for the residents. She stated as long as there is a good separation between the two because it could cause an issue. Matt Lester stated they have ample parking to service both and it is more than the code would require. He stated they anticipate good demand for Urgent Care and that is why they chose that project for this and this is something they will pull from Madison County as well as Cazenovia.
Janice Herzog asked if the traffic in and out would be off the side street. Matt Lester stated the ingress and egress for the project will be at the traffic light on Fayette Street. He stated DOT reviewed and approved the site plan. He stated there will be another egress exit only to the north of that. He stated they also provided an easement to the Village if there is further development to the south of their project.
Victor Ianno stated he agrees with Patrick Hogan and it cleans up an eyesore.
Susan Stanczyk asked if the PILOT is only for the mixed use building and not for the Well Now. Matt Lester stated yes.
Susan Stanczyk asked if the parking for the Well Now is separate from the actual residential building. Matt Lester stated there will be three individual lots. He stated the multistory building will be on its own tax parcel.
Susan Stanczyk stated the Well Now centers are going to be overflowing so that would be a concern for the residents. She stated as long as there is a good separation between the two because it could cause an issue. Matt Lester stated they have ample parking to service both and it is more than the code would require. He stated they anticipate good demand for Urgent Care and that is why they chose that project for this and this is something they will pull from Madison County as well as Cazenovia.
Janice Herzog asked if the traffic in and out would be off the side street. Matt Lester stated the ingress and egress for the project will be at the traffic light on Fayette Street. He stated DOT reviewed and approved the site plan. He stated there will be another egress exit only to the north of that. He stated they also provided an easement to the Village if there is further development to the south of their project.
Susan Stanczyk asked if there are existing sidewalks or is it part of the project. Matt Lester stated there are existing sidewalks. He stated they will be required to replace any cracks on the sidewalks that they encounter.
Upon a motion by Janice Herzog, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing a public hearing for the Fayette Manlius, LLC project. Motion was
carried.
Susan Stanczyk asked if there are existing sidewalks or is it part of the project. Matt Lester stated there are existing sidewalks. He stated they will be required to replace any cracks on the sidewalks that they encounter.
Upon a motion by Janice Herzog, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing a public hearing for the Fayette Manlius, LLC project. Motion was
carried.
Jim Goethe stated Township 5 is an IDA project. He stated they are permanently financing and moving out of their construction loan mini-perm loan that they just completed because they have wrapped up most of the building construction. He stated they are permanently financing the project and they are seeking a resolution from the Agency to move forward with signing the financial documents the bank needs.
Robert Petrovich stated Barclay Damon represents Hinsdale Road and in this instance we have Chris Andreucci from Harris Beach as conflict counsel to represent the IDA on this transaction. He will review the documents and sign off.
Chris Andreucci stated it is a permanent financing and the Agency will be executing one or more mortgages and whatever other financing documents the bank needs. He stated there is no new financial assistance and it is just new permanent financing.
Patrick Hogan stated Township 5 is doing well. Joe Goethe stated everyone is doing very well and the medical people love it. He stated they are blessed with a great anchor in Costco and now that the movies are coming back they have great entertainment.
Upon a motion by Janice Herzog, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing execution and delivery of financing documents for the Hinsdale Road, LLC project. Motion was carried.
Jim Goethe stated Township 5 is an IDA project. He stated they are permanently financing and moving out of their construction loan mini-perm loan that they just completed because they have wrapped up most of the building construction. He stated they are permanently financing the project and they are seeking a resolution from the Agency to move forward with signing the financial documents the bank needs.
Robert Petrovich stated Barclay Damon represents Hinsdale Road and in this instance we have Chris Andreucci from Harris Beach as conflict counsel to represent the IDA on this transaction. He will review the documents and sign off.
Chris Andreucci stated it is a permanent financing and the Agency will be executing one or more mortgages and whatever other financing documents the bank needs. He stated there is no new financial assistance and it is just new permanent financing.
Patrick Hogan stated Township 5 is doing well. Joe Goethe stated everyone is doing very well and the medical people love it. He stated they are blessed with a great anchor in Costco and now that the movies are coming back they have great entertainment.
Upon a motion by Janice Herzog, seconded by Victor Ianno, the OCIDA Board approved a resolution authorizing execution and delivery of financing documents for the Hinsdale Road, LLC project. Motion was carried.
Jeff Davis stated his recommendation is to take a motion from Board to enter into executive session for the purpose of discussing potential acquisition of lands.
Upon a motion by Janice Herzog, seconded by Janice Herzog, the OCIDA Board went into Executive Session at 8:37 am to discuss the potential acquisition of lands and contracts. Motion was carried.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board adjourned Executive Session at 9:00 am. Motion was carried.
(Steve Morgan left the meeting.)
Jeff Davis stated his recommendation is to take a motion from Board to enter into executive session for the purpose of discussing potential acquisition of lands.
Upon a motion by Janice Herzog, seconded by Janice Herzog, the OCIDA Board went into Executive Session at 8:37 am to discuss the potential acquisition of lands and contracts. Motion was carried.
Upon a motion by Janice Herzog, seconded by Susan Stanczyk, the OCIDA Board adjourned Executive Session at 9:00 am. Motion was carried.
(Steve Morgan left the meeting.)
Jeff Davis stated the first resolution with regard to the acquisition of a parcel of property at the White Pine Commerce Park he will briefly read the relevant portion of the SEQR resolution. He read the resolution.
Upon a motion by Victor Ianno, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of SEQR determination. Motion was carried.
Upon a motion by Kevin Ryan, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the Executive Director to enter into a purchase contract and any related documents with respect to one parcel of property. Motion was carried.
Upon a motion by Victor Ianno, seconded by Kevin Ryan, the OCIDA Board adjourned the meeting at 9:03 am. Motion was carried.
_________________________________ Nancy Lowery, Secretary
Jeff Davis stated the first resolution with regard to the acquisition of a parcel of property at the White Pine Commerce Park he will briefly read the relevant portion of the SEQR resolution. He read the resolution.
Upon a motion by Victor Ianno, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the adoption of SEQR determination. Motion was carried.
Upon a motion by Kevin Ryan, seconded by Susan Stanczyk, the OCIDA Board approved a resolution authorizing the Executive Director to enter into a purchase contract and any related documents with respect to one parcel of property. Motion was carried.
Upon a motion by Victor Ianno, seconded by Kevin Ryan, the OCIDA Board adjourned the meeting at 9:03 am. Motion was carried.
_________________________________ Nancy Lowery, Secretary
PHONE: 315.435.3770 • FAX: 315.435.3669 February 28, 2022
Revenue / Expense / Income Current Period Current YTD Amount Change to Budget Operating Revenue 11,049 578,582 1,444,000 (865,418) Administrative Expense 23,772 59,222 800,000 (740,778) Operating/Program Exp. 60,312 104,994 644,000 (539,006) Net Ordinary Income (73,035) 414,367 - 414,367
PHONE: 315.435.3770 • FAX: 315.435.3669 February 28, 2022
Revenue / Expense / Income Current Period Current YTD Amount Change to Budget Operating Revenue 11,049 578,582 1,444,000 (865,418) Administrative Expense 23,772 59,222 800,000 (740,778) Operating/Program Exp. 60,312 104,994 644,000 (539,006) Net Ordinary Income (73,035) 414,367 - 414,367 Current Assets Current YTD Prior YTD Total Cash 3,221,709 5,770,146 Less Pass Through Received 7,468 751,937 Available Cash 3,214,241 5,018,209 Receivables (less pass through rec.) 466,984 223,524 Grant Reimbursements - - Total 3,681,225 5,241,733 Reserve for Contracts County Operations 2022 740,778 333 W. Washington St 2022 Rent 60,000 OBG WPCP CO #4 Additional Studies 180,349 JMT 800 Hiawatha Engineering 10,234 Barclay Damon WPCP Options - Total 991,361 Receivables 0-120 days 244,960 > 120 days 222,024 Total 466,984 Current Assets Current YTD Prior YTD Total Cash 3,221,709 5,770,146 Less Pass Through Received 7,468 751,937 Available Cash 3,214,241 5,018,209 Receivables (less pass through rec.) 466,984 223,524 Grant Reimbursements - - Total 3,681,225 5,241,733 Reserve for Contracts County Operations 2022 740,778 333 W. Washington St 2022 Rent 60,000 OBG WPCP CO #4 Additional Studies 180,349 JMT 800 Hiawatha Engineering 10,234 Barclay Damon WPCP Options - Total 991,361 Receivables 0-120 days 244,960 > 120 days 222,024 Total 466,984 Onondaga County Industrial Development Agency Profit and Loss February 2022
Income
2116.1 Agency Fees 3,000.00 2116.2 Application Fees 4,000.00 Total 2116 Fees 7,000.00 2410 Lease Income 4,000.00 Total 500 Operating Revenue 11,000.00
2401 Interest Income 48.58 Total 501 Non-Operating Revenue 48.58
529 PILOT Income 2,881.14 Total 534 Pilot & Pass Thru Revenue 2,881.14 Total Income $13,929.72 GROSS PROFIT $13,929.72 Expenses
6406 Other Professional Services 360.00 6406.50 Consulting Services 5,000.00 Total 6406 Other Professional Services 5,360.00 6407 Administrative Expense 23,771.54 6408 Meeting Expenses 265.25 6409 Conference Attendence 1,055.00 6410 Office Expense 130.66 Total 6400 Operating Expense 30,582.45
6510.6 Taxes/SDC 6,347.53 6510.7 WPCP Marketing 3,829.15 6511 WPCP Closing Costs 18,324.20 6513 WPCP Option Agree Fees app 9-22-20 25,000.00 Total 6510 White Pine Commerce Park 53,500.88 Total 6500 Agency Program Expenses 53,500.88
6605.2 PILOT Expense 2,881.14 Total 6605 Pilot & Pass Thru Expenses 2,881.14 Total 6600 Non-Operating Expenses 2,881.14 Total Expenses $86,964.47 NET OPERATING INCOME $ -73,034.75 NET INCOME $ -73,034.75 Onondaga County Industrial Development Agency Profit and Loss February 2022
Income
2116.1 Agency Fees 3,000.00 2116.2 Application Fees 4,000.00 Total 2116 Fees 7,000.00 2410 Lease Income 4,000.00 Total 500 Operating Revenue 11,000.00
2401 Interest Income 48.58 Total 501 Non-Operating Revenue 48.58
529 PILOT Income 2,881.14 Total 534 Pilot & Pass Thru Revenue 2,881.14 Total Income $13,929.72 GROSS PROFIT $13,929.72 Expenses
6406 Other Professional Services 360.00 6406.50 Consulting Services 5,000.00 Total 6406 Other Professional Services 5,360.00 6407 Administrative Expense 23,771.54 6408 Meeting Expenses 265.25 6409 Conference Attendence 1,055.00 6410 Office Expense 130.66 Total 6400 Operating Expense 30,582.45
6510.6 Taxes/SDC 6,347.53 6510.7 WPCP Marketing 3,829.15 6511 WPCP Closing Costs 18,324.20 6513 WPCP Option Agree Fees app 9-22-20 25,000.00 Total 6510 White Pine Commerce Park 53,500.88 Total 6500 Agency Program Expenses 53,500.88
6605.2 PILOT Expense 2,881.14 Total 6605 Pilot & Pass Thru Expenses 2,881.14 Total 6600 Non-Operating Expenses 2,881.14 Total Expenses $86,964.47 NET OPERATING INCOME $ -73,034.75 NET INCOME $ -73,034.75 Accrual Basis Friday, March 4, 2022 10:34 AM GMT-05:00 1/1 Onondaga County Industrial Development Agency Balance Sheet As of February 28, 2022
Current Assets Bank Accounts 200 Cash 0.00 200.1 Cash - M & T Checking 2,340,192.02 200.2 Cash - M & T Money Maker Savings 890,424.69 200.4 Destiny USA Restricted Cash -8,957.82 210 Petty Cash 50.00 Total 200 Cash 3,221,708.89 Total Bank Accounts $3,221,708.89 Accounts Receivable 380 Accounts Rec.
380.6 A/R Fees, Lease & PILOT 261,856.95 Total 380 Accounts Rec. 261,856.95 Total Accounts Receivable $261,856.95 Other Current Assets 391 Long Tern Receivable 222,024.00 Total Other Current Assets $222,024.00 Total Current Assets $3,705,589.84 Accrual Basis Friday, March 4, 2022 10:34 AM GMT-05:00 1/1 Onondaga County Industrial Development Agency Balance Sheet As of February 28, 2022
Current Assets Bank Accounts 200 Cash 0.00 200.1 Cash - M & T Checking 2,340,192.02 200.2 Cash - M & T Money Maker Savings 890,424.69 200.4 Destiny USA Restricted Cash -8,957.82 210 Petty Cash 50.00 Total 200 Cash 3,221,708.89 Total Bank Accounts $3,221,708.89 Accounts Receivable 380 Accounts Rec.
380.6 A/R Fees, Lease & PILOT 261,856.95 Total 380 Accounts Rec. 261,856.95 Total Accounts Receivable $261,856.95 Other Current Assets 391 Long Tern Receivable 222,024.00 Total Other Current Assets $222,024.00 Total Current Assets $3,705,589.84 Accrual Basis Friday, March 4, 2022 10:34 AM GMT-05:00 1/3 Onondaga County Industrial Development Agency Balance Sheet As of February 28, 2022
Fixed Assets
101 White Pines Commerce Park 8,290,651.50
101.101 CHA GEIS 1 267,452.05 101.102 CHA GEIS 2 219,439.36 101.104 GEIS Reg Plan Board Overview 19,797.74 Total 101.1 WPCP GEIS 506,689.15 101.2 WPCP Legal 69,774.25 101.3 Engineering Services 52,675.00 101.301 Temporary Access 4,055.44 101.4 Environmental/Demo Services 10,318.98 Total 101.3 Engineering Services 67,049.42
101.501 Land Purchases 1,160,063.57 101.502 Closing Costs 3,168.14 Total 101.5 Land Acquisition Costs 1,163,231.71 Total 101 White Pines Commerce Park 10,097,396.03 106 North Salina Properties 0.00 106.1 435 North Salina 17,083.55 106.3 435 North Salina Building 634,421.53 Total 106 North Salina Properties 651,505.08 107 800 Hiawatha 604,840.42 Total 100 Land 11,353,741.53
104.1 Office Furniture 1,429.00 104.2 Equipment 4,588.00 Total 104 Machinery & Equipment 6,017.00 211 A/D Office Furniture -2,862.00 213 A/D Buildings -81,335.00 Total Fixed Assets $11,275,561.53 Other Assets 240 Blue Sky Redevelopment 1,641.76 Total Other Assets $1,641.76 TOTAL ASSETS $14,982,793.13 Accrual Basis Friday, March 4, 2022 10:34 AM GMT-05:00 1/3 Onondaga County Industrial Development Agency Balance Sheet As of February 28, 2022
Fixed Assets
101 White Pines Commerce Park 8,290,651.50
101.101 CHA GEIS 1 267,452.05 101.102 CHA GEIS 2 219,439.36 101.104 GEIS Reg Plan Board Overview 19,797.74 Total 101.1 WPCP GEIS 506,689.15 101.2 WPCP Legal 69,774.25 101.3 Engineering Services 52,675.00 101.301 Temporary Access 4,055.44 101.4 Environmental/Demo Services 10,318.98 Total 101.3 Engineering Services 67,049.42
101.501 Land Purchases 1,160,063.57 101.502 Closing Costs 3,168.14 Total 101.5 Land Acquisition Costs 1,163,231.71 Total 101 White Pines Commerce Park 10,097,396.03 106 North Salina Properties 0.00 106.1 435 North Salina 17,083.55 106.3 435 North Salina Building 634,421.53 Total 106 North Salina Properties 651,505.08 107 800 Hiawatha 604,840.42 Total 100 Land 11,353,741.53
104.1 Office Furniture 1,429.00 104.2 Equipment 4,588.00 Total 104 Machinery & Equipment 6,017.00 211 A/D Office Furniture -2,862.00 213 A/D Buildings -81,335.00 Total Fixed Assets $11,275,561.53 Other Assets 240 Blue Sky Redevelopment 1,641.76 Total Other Assets $1,641.76 TOTAL ASSETS $14,982,793.13 Accrual Basis Friday, March 4, 2022 10:34 AM GMT-05:00 2/3 Onondaga County Industrial Development Agency Balance Sheet As of February 28, 2022
Liabilities Current Liabilities Other Current Liabilities 600 Accounts Payable 0.00 600.1 Due to Related Party - OED 667,270.17 600.205 Exp Pay Prev Period 296,997.08 600.206 Mileage Reimbursement 92.34 600.208 BlueRock Energy Agreement Deposit 25,000.00 600.209 Syracuse Rail Overpayment 500.00 600.3 Onondaga County Loan 4,011,161.56 Total 600 Accounts Payable 5,001,021.15
603 PILOT Pass Thru 16,897.00 604 Other Pass Thrus 74,063.70 Total 601 PILOT and Pass Thru Payable 90,960.70
631.11 Cicero 7,468.00 Total 631.1 Towns 7,468.00 Total 631 Due to Other Governments 7,468.00 Total Other Current Liabilities $5,099,449.85 Total Current Liabilities $5,099,449.85 Total Liabilities $5,099,449.85 Equity 3900 Equity Unreserved 6,750,308.91 3901 Equity-Investment Fixed Assets 2,345,838.63 463 Reserve For Contracts 991,361.04 465 Equity - Unreserved -618,532.04 Net Income 414,366.74 Total Equity $9,883,343.28 TOTAL LIABILITIES AND EQUITY $14,982,793.13 Accrual Basis Friday, March 4, 2022 10:34 AM GMT-05:00 2/3 Onondaga County Industrial Development Agency Balance Sheet As of February 28, 2022
Liabilities Current Liabilities Other Current Liabilities 600 Accounts Payable 0.00 600.1 Due to Related Party - OED 667,270.17 600.205 Exp Pay Prev Period 296,997.08 600.206 Mileage Reimbursement 92.34 600.208 BlueRock Energy Agreement Deposit 25,000.00 600.209 Syracuse Rail Overpayment 500.00 600.3 Onondaga County Loan 4,011,161.56 Total 600 Accounts Payable 5,001,021.15
603 PILOT Pass Thru 16,897.00 604 Other Pass Thrus 74,063.70 Total 601 PILOT and Pass Thru Payable 90,960.70
631.11 Cicero 7,468.00 Total 631.1 Towns 7,468.00 Total 631 Due to Other Governments 7,468.00 Total Other Current Liabilities $5,099,449.85 Total Current Liabilities $5,099,449.85 Total Liabilities $5,099,449.85 Equity 3900 Equity Unreserved 6,750,308.91 3901 Equity-Investment Fixed Assets 2,345,838.63 463 Reserve For Contracts 991,361.04 465 Equity - Unreserved -618,532.04 Net Income 414,366.74 Total Equity $9,883,343.28 TOTAL LIABILITIES AND EQUITY $14,982,793.13 Accrual Basis Friday, March 4, 2022 10:34 AM GMT-05:00 3/3 Accrual Basis Friday, March 4, 2022 10:34 AM GMT-05:00 3/3
PAYMENT OF BILL - SCHEDULE #467 March 8, 2022
PAYMENT OF BILL - SCHEDULE #467 March 8, 2022
1. BARCLAY DAMON LLP* $ 200,000.00 WPCP Legal Fees 2. BARCLAY DAMON LLP** $ 658,550.14 Purchase of Land 3. BARCLAY DAMON LLP** $ 314,587.49 Purchase of Land 4. BARCLAY DAMON LLP** $ 76,543.10 Purchase of Land 5. RAMBOLL AMERICAS ENGINEERING SOLUTIONS, INC.*** $ 12,884.00 Inv#1940009607, Partial Payment 6. NAFTZ $ 1,250.00 Order# 183550, 2022 Membership 7. ADVANCE MEDIA NEW YORK $ 494.96
8. FEDEX $ 25.08 Inv#7-345-58501, Shipping 9. ROBERT M. PETROVICH $ 173.16 Mileage and Tolls Albany Trip 10. NANCY LOWERY $ 185.42 Mileage and Tolls Albany Trip 11. NATE STEVENS $ 185.42 Mileage and Tolls Albany Trip 1 Schedule#467 12. LEN RAUCH $ 50.00 Reimbursement for Expenses TOTAL $ 1,264,878.77
1. BARCLAY DAMON LLP* $ 200,000.00 WPCP Legal Fees 2. BARCLAY DAMON LLP** $ 658,550.14 Purchase of Land 3. BARCLAY DAMON LLP** $ 314,587.49 Purchase of Land 4. BARCLAY DAMON LLP** $ 76,543.10 Purchase of Land 5. RAMBOLL AMERICAS ENGINEERING SOLUTIONS, INC.*** $ 12,884.00 Inv#1940009607, Partial Payment 6. NAFTZ $ 1,250.00 Order# 183550, 2022 Membership 7. ADVANCE MEDIA NEW YORK $ 494.96
8. FEDEX $ 25.08 Inv#7-345-58501, Shipping 9. ROBERT M. PETROVICH $ 173.16 Mileage and Tolls Albany Trip 10. NANCY LOWERY $ 185.42 Mileage and Tolls Albany Trip 11. NATE STEVENS $ 185.42 Mileage and Tolls Albany Trip 1 Schedule#467 12. LEN RAUCH $ 50.00 Reimbursement for Expenses TOTAL $ 1,264,878.77 *Ratification of Check dated February 4, 2022 **Ratification of Checks dated February 17, 2022 ***Ratification of Check dated February 18, 2022 2 *Ratification of Check dated February 4, 2022 **Ratification of Checks dated February 17, 2022 ***Ratification of Check dated February 18, 2022 2
PAYMENT OF BILL - SCHEDULE #467 March 8, 2022 PILOT Payments 1. ONONDAGA COUNTY* $ 210,021.32
2. CITY OF SYRACUSE* $ 1,675.73 4th Quarter 2021 Syracuse Rail PILOT Payment 3. TOWN OF CICERO $ 7,468.00
4. TOWN OF CLAY* $ 56,814.00
5. TOWN OF DEWITT* $ 79,462.23
6. TOWN OF ONONDAGA* $ 3.36 4th Quarter 2021 Syracuse Rail PILOT Payment 7. TOWN OF SALINA* $ 4,437.00
8. TOWN OF SKANEATELES* $ 217.00
9. VILLAGE OF LIVERPOOL* $ 4,330.00
10. EAST SYRACUSE MINOA CSD* $ 289,006.84
11. JAMESVILLE DEWITT CSD* $ 108.09 4th Quarter 2021 Syracuse Rail PILOT Payment 1 Schedule #467 12. LIVERPOOL CSD* $ 448,039.00
PAYMENT OF BILL - SCHEDULE #467 March 8, 2022 PILOT Payments 1. ONONDAGA COUNTY* $ 210,021.32
2. CITY OF SYRACUSE* $ 1,675.73 4th Quarter 2021 Syracuse Rail PILOT Payment 3. TOWN OF CICERO $ 7,468.00
4. TOWN OF CLAY* $ 56,814.00
5. TOWN OF DEWITT* $ 79,462.23
6. TOWN OF ONONDAGA* $ 3.36 4th Quarter 2021 Syracuse Rail PILOT Payment 7. TOWN OF SALINA* $ 4,437.00
8. TOWN OF SKANEATELES* $ 217.00
9. VILLAGE OF LIVERPOOL* $ 4,330.00
10. EAST SYRACUSE MINOA CSD* $ 289,006.84
11. JAMESVILLE DEWITT CSD* $ 108.09 4th Quarter 2021 Syracuse Rail PILOT Payment 1 Schedule #467 12. LIVERPOOL CSD* $ 448,039.00
13. MARCELLUS CSD* $ 2,744.00
14. NORTH SYRACUSE CSD* $ 175,034.00
15. ONONDAGA COUNTY $ 2,633.00 Empire Polymer 2022 PILOT Payment 16. TOWN OF VAN BUREN $ 2,011.00 Empire Polymer 2022 PILOT Payment 17. BALDWINSVILLE CSD $ 12,253.00 Empire Polymer 2022 PILOT Payment TOTAL $ 1,296,257.57 *Ratification of Checks dated February 22, 2022 2 13. MARCELLUS CSD* $ 2,744.00
14. NORTH SYRACUSE CSD* $ 175,034.00
15. ONONDAGA COUNTY $ 2,633.00 Empire Polymer 2022 PILOT Payment 16. TOWN OF VAN BUREN $ 2,011.00 Empire Polymer 2022 PILOT Payment 17. BALDWINSVILLE CSD $ 12,253.00 Empire Polymer 2022 PILOT Payment TOTAL $ 1,296,257.57 *Ratification of Checks dated February 22, 2022 2
DESCRIPTION TERM CONTRACT PAID OUTSTANDING ONONDAGA COUNTY OED 2021 1-1-22-1-31-22 $800,000.00 $59,221.61 $740,778.39 333 W. WASHINGTON ST 2022 RENT 1-1-22-1-31-22 $60,000.00 $0.00 $60,000.00 OBG WPCP CO #4 ADDITIONAL STUDIES 11-30-18-12-31-21 $800,000.00 $619,651.25 $180,348.75 JMT 800 HIAWATHA ENGINEERING 2/13/19-12-31-21 $25,000.00 $14,766.10 $10,233.90 $1,685,000.00 $693,638.96 $991,361.04
DESCRIPTION TERM CONTRACT PAID OUTSTANDING ONONDAGA COUNTY OED 2021 1-1-22-1-31-22 $800,000.00 $59,221.61 $740,778.39 333 W. WASHINGTON ST 2022 RENT 1-1-22-1-31-22 $60,000.00 $0.00 $60,000.00 OBG WPCP CO #4 ADDITIONAL STUDIES 11-30-18-12-31-21 $800,000.00 $619,651.25 $180,348.75 JMT 800 HIAWATHA ENGINEERING 2/13/19-12-31-21 $25,000.00 $14,766.10 $10,233.90 $1,685,000.00 $693,638.96 $991,361.04
AGENCY FEES RECEIVABLE $244,959.95 ACCOUNTS RECEIVABLE GENERAL $0.00 QUASI-EQUITY LOAN RECEIVABLE $0.00 GRANTS RECEIVABLE $0.00 LONG TERM RECEIVABLE $222,024.00 TOTAL $466,983.95 Annual Meeting March 8, 2022 Michael Lisson, CPA, CITP Partner
AGENCY FEES RECEIVABLE $244,959.95 ACCOUNTS RECEIVABLE GENERAL $0.00 QUASI-EQUITY LOAN RECEIVABLE $0.00 GRANTS RECEIVABLE $0.00 LONG TERM RECEIVABLE $222,024.00 TOTAL $466,983.95 Annual Meeting March 8, 2022 Michael Lisson, CPA, CITP Partner
Syracuse, New York 13202 1 315.424.1120 • www.gsacpas.com
REQUIRED COMMUNICATIONS ANNUAL FINANCIAL INFORMATION FINANCIAL STATEMENTS INVESTMENT POLICY COMPLIANCE REPORT ON INTERNAL CONTROL & OTHER COMPLIANCE OTHER INFORMATION Required Communications Required by Generally Accepted Governmental Auditing Standards (GAGAS) AU‐C Section 260, The Auditor’s Communication with Those Charged with Governance Those Charged with Governance Responsible for overseeing strategic direction of entity Responsible for obligations related to accountability Oversees the financial reporting process, including internal controls Required Communications (continued) Auditor’s Responsibilities with Regard to the Financial Statement Audit We form and express an opinion on your financial statements. Does not relieve management or the board of their responsibilities Further described in the annual engagement letter
Syracuse, New York 13202 1 315.424.1120 • www.gsacpas.com
REQUIRED COMMUNICATIONS ANNUAL FINANCIAL INFORMATION FINANCIAL STATEMENTS INVESTMENT POLICY COMPLIANCE REPORT ON INTERNAL CONTROL & OTHER COMPLIANCE OTHER INFORMATION Required Communications Required by Generally Accepted Governmental Auditing Standards (GAGAS) AU‐C Section 260, The Auditor’s Communication with Those Charged with Governance Those Charged with Governance Responsible for overseeing strategic direction of entity Responsible for obligations related to accountability Oversees the financial reporting process, including internal controls Required Communications (continued) Auditor’s Responsibilities with Regard to the Financial Statement Audit We form and express an opinion on your financial statements. Does not relieve management or the board of their responsibilities Further described in the annual engagement letter Planned Scope and Timing of the Audit Communicated on October 19, 2021 We carried out our audit consistent with the planned scope and timing previously communicated Significant Risks Identified:
Revenue Recognition Investment in real property A significant risk for our audit purposes are risks relating to amounts or disclosures in the financial statements that require special audit consideration because of the likelihood and magnitude of the potential misstatement. We consider certain factors to determine whether a risk is a significant risk.
Required Communications (continued) Qualitative aspects of significant accounting practices The notes to financials describes significant accounting practices Pollution remediation obligations (note 2) Investment in real property (note 2) Financial assistance program (note 3) Tax abatement programs (note 4) Property leases and bonds payable (conduit debt‐$91.1m) (note 9) Note payable to Onondaga County ‐ $1.8m, available $18.2m (note 12) Planned Scope and Timing of the Audit Communicated on October 19, 2021 We carried out our audit consistent with the planned scope and timing previously communicated Significant Risks Identified:
Revenue Recognition Investment in real property A significant risk for our audit purposes are risks relating to amounts or disclosures in the financial statements that require special audit consideration because of the likelihood and magnitude of the potential misstatement. We consider certain factors to determine whether a risk is a significant risk.
Required Communications (continued) Qualitative aspects of significant accounting practices The notes to financials describes significant accounting practices Pollution remediation obligations (note 2) Investment in real property (note 2) Financial assistance program (note 3) Tax abatement programs (note 4) Property leases and bonds payable (conduit debt‐$91.1m) (note 9) Note payable to Onondaga County ‐ $1.8m, available $18.2m (note 12) Significant estimates Depreciable lives (5 to 39 years) Pollution remediation obligations Financials and notes are fairly consistent with prior year and are fairly presented.
Difficulties encountered in performing the audit None. Management is well prepared and was extremely helpful in assisting and preparing information for the audit Required Communications (continued) Uncorrected and corrected misstatements There were no uncorrected misstatements that were not recorded by management Minor entries related to depreciation expense, OED expense not required to be funded per Onondaga County, accrual of development fees, interest on note payable to Onondaga county, reversal of PILOT payable, and write‐off of long term receivable for a project that never commenced.
Significant estimates Depreciable lives (5 to 39 years) Pollution remediation obligations Financials and notes are fairly consistent with prior year and are fairly presented.
Difficulties encountered in performing the audit None. Management is well prepared and was extremely helpful in assisting and preparing information for the audit Required Communications (continued) Uncorrected and corrected misstatements There were no uncorrected misstatements that were not recorded by management Minor entries related to depreciation expense, OED expense not required to be funded per Onondaga County, accrual of development fees, interest on note payable to Onondaga county, reversal of PILOT payable, and write‐off of long term receivable for a project that never commenced.
Required Communications (continued) Disagreements with management None to report Management Representations Letter dated March 8, 2022 Management Consultations with Other Independent Accountants No consultations have been noted Compliance with All Ethics Requirements regarding independence Appropriate safeguards applied to eliminate/reduce identified threats to independence, primarily related to non‐audit services provided. Non‐audit services include:
Preparation of the financial statements (deemed a “significant threat”) Other Audit Findings or Issues None to report Annual Financial Information Financial Statements Unmodified (“clean”) audit opinion (pgs 1‐3) Change in format and wording of opinion this year Report on required supplementary information (RSI) Other information Management’s Discussion and Analysis (pgs 4‐6) Statements of Net Position (pg 7) Statements of Revenues, Expenses & Changes in Net Position(pg 8) Statements of Cash Flows (pgs 9‐10) Notes to financial statements (pgs 11‐19) Supplemental Schedule (NYS requirement) (pgs 20‐22) Required Communications (continued) Disagreements with management None to report Management Representations Letter dated March 8, 2022 Management Consultations with Other Independent Accountants No consultations have been noted Compliance with All Ethics Requirements regarding independence Appropriate safeguards applied to eliminate/reduce identified threats to independence, primarily related to non‐audit services provided. Non‐audit services include:
Preparation of the financial statements (deemed a “significant threat”) Other Audit Findings or Issues None to report Annual Financial Information Financial Statements Unmodified (“clean”) audit opinion (pgs 1‐3) Change in format and wording of opinion this year Report on required supplementary information (RSI) Other information Management’s Discussion and Analysis (pgs 4‐6) Statements of Net Position (pg 7) Statements of Revenues, Expenses & Changes in Net Position(pg 8) Statements of Cash Flows (pgs 9‐10) Notes to financial statements (pgs 11‐19) Supplemental Schedule (NYS requirement) (pgs 20‐22) Annual Financial Information Net Position Summary Year Ended December 31,
Cash and cash equivalents $ 2,975,229 $ 5,069,972 $ 2,206,148 Receivables ‐ Onondaga County ‐ ‐ 1,336,998 Accounts receivable 315,335 269,149 833,971 Grant receivables ‐ ‐ 268,734 Capital assets 4,488,414 4,502,156 4,518,424 Investment in real property 6,180,006 ‐ ‐ Total assets 13,958,984 9,841,277 9,164,275 Current liabilities 749,875 386,715 564,045 Note payable to Onondaga County 1,745,781 ‐ ‐ Accrued interest 2,129 ‐ ‐ Total liabilities 2,497,785 386,715 564,045 Annual Financial Information Net Position Summary Year Ended December 31,
Cash and cash equivalents $ 2,975,229 $ 5,069,972 $ 2,206,148 Receivables ‐ Onondaga County ‐ ‐ 1,336,998 Accounts receivable 315,335 269,149 833,971 Grant receivables ‐ ‐ 268,734 Capital assets 4,488,414 4,502,156 4,518,424 Investment in real property 6,180,006 ‐ ‐ Total assets 13,958,984 9,841,277 9,164,275 Current liabilities 749,875 386,715 564,045 Note payable to Onondaga County 1,745,781 ‐ ‐ Accrued interest 2,129 ‐ ‐ Total liabilities 2,497,785 386,715 564,045 Net Position:
Net investment in capital assets 4,488,414 4,502,156 4,518,424 Unrestricted 6,972,785 4,952,406 4,081,806 Total net position $ 11,461,199 $ 9,454,562 $ 8,600,230 Annual Financial Information Change in Net Position Summary Year Ended December 31,
Operating revenues $ 2,334,950 $ 2,803,839 $ 3,550,992 Operating expenses 326,923 1,951,084 1,462,500 Operating income (loss) 2,008,027 852,755 2,088,492 Other revenues (expenses) (1,390) 1,577 8,036 Change in net position 2,006,637 854,332 2,096,528 Net position ‐ beginning of year 9,454,562 8,600,230 6,503,702 Net position ‐ end of year $ 11,461,199 $ 9,454,562 $ 8,600,230 Net Position:
Net investment in capital assets 4,488,414 4,502,156 4,518,424 Unrestricted 6,972,785 4,952,406 4,081,806 Total net position $ 11,461,199 $ 9,454,562 $ 8,600,230 Annual Financial Information Change in Net Position Summary Year Ended December 31,
Operating revenues $ 2,334,950 $ 2,803,839 $ 3,550,992 Operating expenses 326,923 1,951,084 1,462,500 Operating income (loss) 2,008,027 852,755 2,088,492 Other revenues (expenses) (1,390) 1,577 8,036 Change in net position 2,006,637 854,332 2,096,528 Net position ‐ beginning of year 9,454,562 8,600,230 6,503,702 Net position ‐ end of year $ 11,461,199 $ 9,454,562 $ 8,600,230 Annual Financial Information Financial Highlights Operating Revenues decreased $468,889 in 2021 compared to a decrease of $747,153 in 2020. This was primarily due to the following: Decrease in overall Agency fees received of $857,156 compared to 2020. Significant Agency fees included $260,000 from Milton CAT, $194,311 from UR‐ Ban Villages PFA, LLC, and $164,544 from LeMoyne Manor LLC;
Additional decrease in Agency fees of $222,024 due to the write‐off of a long term receivable for a project that never commenced;
Increase of $663,002 in 2021 for reimbursement of costs related to the White Pine Commerce Park from Onondaga County; and Increase of $165,552 for reimbursement of development costs from a utility company for work related to the White Pine Commerce Park.
Annual Financial Information Financial Highlights (continued) Operating Expenses decreased $1,624,161 in 2021. Contractual support services with Onondaga County decreased $413,546 (Agency was not required to commit funding in 2021) while development costs and professional fees decreased $501,806 and $295,718, respectively, compared to the previous year.
Annual Financial Information Financial Highlights Operating Revenues decreased $468,889 in 2021 compared to a decrease of $747,153 in 2020. This was primarily due to the following: Decrease in overall Agency fees received of $857,156 compared to 2020. Significant Agency fees included $260,000 from Milton CAT, $194,311 from UR‐ Ban Villages PFA, LLC, and $164,544 from LeMoyne Manor LLC;
Additional decrease in Agency fees of $222,024 due to the write‐off of a long term receivable for a project that never commenced;
Increase of $663,002 in 2021 for reimbursement of costs related to the White Pine Commerce Park from Onondaga County; and Increase of $165,552 for reimbursement of development costs from a utility company for work related to the White Pine Commerce Park.
Annual Financial Information Financial Highlights (continued) Operating Expenses decreased $1,624,161 in 2021. Contractual support services with Onondaga County decreased $413,546 (Agency was not required to commit funding in 2021) while development costs and professional fees decreased $501,806 and $295,718, respectively, compared to the previous year.
In addition, financial assistance grants to help alleviate the economic damage that small businesses experienced as a result of the COVID‐19 pandemic decreased $183,232 in 2021.
Annual Other Reporting Investment Policy Compliance Required by NYS Public Authorities Law section 2925 No non‐compliance matters noted or identified Report on Internal Control over Financial Reporting and on Compliance and Other Matters No material weaknesses or non‐compliance matters noted In addition, financial assistance grants to help alleviate the economic damage that small businesses experienced as a result of the COVID‐19 pandemic decreased $183,232 in 2021.
Annual Other Reporting Investment Policy Compliance Required by NYS Public Authorities Law section 2925 No non‐compliance matters noted or identified Report on Internal Control over Financial Reporting and on Compliance and Other Matters No material weaknesses or non‐compliance matters noted
(A DISCRETELY PRESENTED COMPONENT UNIT
(A DISCRETELY PRESENTED COMPONENT UNIT
December 31, 2021 and 2020
December 31, 2021 and 2020
(A Discretely Presented Component Unit of the County of Onondaga, New York) Table of Contents Independent Auditor’s Report 1‐3 Required Supplementary Information:
Management’s Discussion and Analysis (Unaudited) 4‐7 Financial Statements:
Statements of Net Position ‐ December 31, 2021 and 2020 8 Statements of Revenues, Expenses and Changes in Net Position ‐ For the Years Ended December 31, 2021 and 2020 9 Statements of Cash Flows ‐ For the Years Ended December 31, 2021 and 2020 10 ‐ 11 Notes to Financial Statements 12 ‐ 21 Supplementary Information:
Supplemental Schedule of Revenue Bonds and Other Bonds (Conduit Debt Obligations) 22 ‐ 23 INDEPENDENT AUDITOR’S REPORT Board of Directors Onondaga County Industrial Development Agency Syracuse, New York Report on the Audit of the Financial Statements
(A Discretely Presented Component Unit of the County of Onondaga, New York) Table of Contents Independent Auditor’s Report 1‐3 Required Supplementary Information:
Management’s Discussion and Analysis (Unaudited) 4‐7 Financial Statements:
Statements of Net Position ‐ December 31, 2021 and 2020 8 Statements of Revenues, Expenses and Changes in Net Position ‐ For the Years Ended December 31, 2021 and 2020 9 Statements of Cash Flows ‐ For the Years Ended December 31, 2021 and 2020 10 ‐ 11 Notes to Financial Statements 12 ‐ 21 Supplementary Information:
Supplemental Schedule of Revenue Bonds and Other Bonds (Conduit Debt Obligations) 22 ‐ 23 INDEPENDENT AUDITOR’S REPORT Board of Directors Onondaga County Industrial Development Agency Syracuse, New York Report on the Audit of the Financial Statements We have audited the financial statements of the Onondaga County Industrial Development Agency (the Agency), a component unit of the County of Onondaga, New York (the County), as of and for the years ended December 31, 2021 and 2020, and the related notes to the financial statements, which collectively comprise the Agency’s basic financial statements as listed in the table of contents.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Agency, as of December 31, 2021 and 2020, and the changes in its financial position and its cash flows thereof for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion We have audited the financial statements of the Onondaga County Industrial Development Agency (the Agency), a component unit of the County of Onondaga, New York (the County), as of and for the years ended December 31, 2021 and 2020, and the related notes to the financial statements, which collectively comprise the Agency’s basic financial statements as listed in the table of contents.
In our opinion, the accompanying financial statements referred to above present fairly, in all material respects, the financial position of the Agency, as of December 31, 2021 and 2020, and the changes in its financial position and its cash flows thereof for the years then ended in accordance with accounting principles generally accepted in the United States of America.
Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Agency and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements The Agency's management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Agency’s ability to continue as a going concern for one year beyond the financial statement date.
We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS) and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Agency and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.
Responsibilities of Management for the Financial Statements The Agency's management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Agency’s ability to continue as a going concern for one year beyond the financial statement date.
Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we:
Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we:
• Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Agency’s internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Agency’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
Required Supplementary Information • Exercise professional judgment and maintain professional skepticism throughout the audit. • Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Agency’s internal control. Accordingly, no such opinion is expressed. • Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements. • Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about the Agency’s ability to continue as a going concern for a reasonable period of time. We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control–related matters that we identified during the audit.
Required Supplementary Information Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis on pages 4‐7 be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information Accounting principles generally accepted in the United States of America require that the Management’s Discussion and Analysis on pages 4‐7 be presented to supplement the basic financial statements. Such information is the responsibility of management and, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board, who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Supplementary Information Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Agency's basic financial statements. The supplemental schedule of revenue bonds and other bonds (conduit debt obligations), as required by New York State General Municipal Law §859 (1) (b), are presented for purposes of additional analysis and are not a required part of the basic financial statements. The supplemental schedule of revenue bonds and other bonds (conduit debt obligations) is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplemental schedule of revenue bonds and other bonds (conduit debt obligations) is fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards Our audit was conducted for the purpose of forming an opinion on the financial statements that collectively comprise the Agency's basic financial statements. The supplemental schedule of revenue bonds and other bonds (conduit debt obligations), as required by New York State General Municipal Law §859 (1) (b), are presented for purposes of additional analysis and are not a required part of the basic financial statements. The supplemental schedule of revenue bonds and other bonds (conduit debt obligations) is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the supplemental schedule of revenue bonds and other bonds (conduit debt obligations) is fairly stated, in all material respects, in relation to the basic financial statements as a whole.
Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated March 8, 2022, on our consideration of the Agency’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulation, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Agency’s internal control over financial reporting and compliance.
Syracuse, New York March 8, 2022 In accordance with Government Auditing Standards, we have also issued our report dated March 8, 2022, on our consideration of the Agency’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulation, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Agency’s internal control over financial reporting and compliance.
Syracuse, New York March 8, 2022
(A Discretely Presented Component Unit of the County of Onondaga, New York)
(A Discretely Presented Component Unit of the County of Onondaga, New York)
This section of the Onondaga County Industrial Development Agency’s (the Agency), a discretely presented component unit of Onondaga County, New York (the County), annual financial report presents our discussion and analysis of the Agency’s financial performance during the year ended December 31, 2021. It should be read in conjunction with the Agency’s financial statements and accompanying notes.
This section of the Onondaga County Industrial Development Agency’s (the Agency), a discretely presented component unit of Onondaga County, New York (the County), annual financial report presents our discussion and analysis of the Agency’s financial performance during the year ended December 31, 2021. It should be read in conjunction with the Agency’s financial statements and accompanying notes.
The annual financial report of the Agency consists of two parts: Management’s Discussion and Analysis (this section) and the basic financial statements and footnotes. The Agency is a self‐supporting entity. The accounts are recorded in accordance with a proprietary fund type and consist of an enterprise fund. Proprietary fund type operating statements present increases and decreases in net position. The financial statements are presented using the economic resources measurement focus and the accrual basis of accounting. The Agency does not maintain separate fund accounts.
Condensed Comparative Financial Information
The annual financial report of the Agency consists of two parts: Management’s Discussion and Analysis (this section) and the basic financial statements and footnotes. The Agency is a self‐supporting entity. The accounts are recorded in accordance with a proprietary fund type and consist of an enterprise fund. Proprietary fund type operating statements present increases and decreases in net position. The financial statements are presented using the economic resources measurement focus and the accrual basis of accounting. The Agency does not maintain separate fund accounts.
Condensed Comparative Financial Information Year Ended December 31,
Cash and cash equivalents $ 2,975,229 $ 5,069,972 $ 2,206,148 Receivables ‐ Onondaga County ‐ ‐ 1,336,998 Accounts receivable 315,335 269,149 833,971 Grant receivables ‐ ‐ 268,734 Capital assets 4,488,414 4,502,156 4,518,424 Investment in real property 6,180,006 ‐ ‐ Total assets 13,958,984 9,841,277 9,164,275 Current liabilities 749,875 386,715 564,045 Note payable to Onondaga County 1,745,781 ‐ ‐ Accrued interest 2,129 ‐ ‐ Total liabilities 2,497,785 386,715 564,045 Year Ended December 31,
Cash and cash equivalents $ 2,975,229 $ 5,069,972 $ 2,206,148 Receivables ‐ Onondaga County ‐ ‐ 1,336,998 Accounts receivable 315,335 269,149 833,971 Grant receivables ‐ ‐ 268,734 Capital assets 4,488,414 4,502,156 4,518,424 Investment in real property 6,180,006 ‐ ‐ Total assets 13,958,984 9,841,277 9,164,275 Current liabilities 749,875 386,715 564,045 Note payable to Onondaga County 1,745,781 ‐ ‐ Accrued interest 2,129 ‐ ‐ Total liabilities 2,497,785 386,715 564,045 Net Position:
Net investment in capital assets 4,488,414 4,502,156 4,518,424 Unrestricted 6,972,785 4,952,406 4,081,806 Total net position $ 11,461,199 $ 9,454,562 $ 8,600,230 ‐4‐ Net Position:
Net investment in capital assets 4,488,414 4,502,156 4,518,424 Unrestricted 6,972,785 4,952,406 4,081,806 Total net position $ 11,461,199 $ 9,454,562 $ 8,600,230 ‐4‐
(A Discretely Presented Component Unit of the County of Onondaga, New York)
(A Discretely Presented Component Unit of the County of Onondaga, New York)
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