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315.435.3770 • ECONOMICDEVELOPMENT@ONGOV.NET Governance Committee Meeting Agenda February 15, 2024 8:30AM Call to Order of the Meeting of the OCIDA Governance Committee A. Approval of the Minutes of the January 18, 2024 Meeting of the Committee
The Committee will review and discuss recommending the 2024 revised Uniform Tax Exemption Policy to the full OCIDA Board.
Committee Action Requested: The Committee to make a recommendation to the OCIDA Board regarding adoption of the 2024 revised Uniform Tax Exemption Policy. Representative: Robert Petrovich, Executive Director, OCIDA 2. OCIDA Application Review: The Committee will review and discuss the revisions to the OCIDA Application and make a recommendation to the full OCIDA Board. Committee Action Requested: The Committee to make a recommendation to the OCIDA Board regarding adopting the revised application.
Representative: Robert Petrovich, Executive Director, OCIDA
The Committee will review and discuss the revised Uniform Agency Project Agreement and make a recommendation to the full OCIDA Board.
Committee Action Requested: The Committee to make a recommendation to the OCIDA Board regarding adopting the revised Uniform Agency Project Agreement.
Representative: Robert Petrovich, Executive Director, OCIDA Adjourn Onondaga County Industrial Development Agency Governance Committee Meeting Minutes January 18, 2024 The Governance Committee meeting of the Onondaga County Industrial Development Agency was held on Thursday, January 18, 2024 at 335 Montgomery Street, Syracuse, New York in the large conference room on the first floor.
Kevin Ryan called the meeting to order at 8:38 am with the following:
PRESENT:
Kevin Ryan Fanny Villarreal Patrick Hogan
ALSO PRESENT:
Robert M. Petrovich, Executive Director Svetlana Dyer, Secretary Nate Stevens, Treasurer Karen Doster, Recording Secretary Alexis Rodriguez, Assistant Treasurer Len Rauch, Economic Development Jeff Davis, Barclay Damon Law Firm Amanda Fitzgerald, Barclay Damon Law Firm Janice Herzog, OCIDA Board Member Susan Stanczyk, OCIDA Board Member Cydney Johnson, OCIDA Board Member Elizabeth Dreyfuss, OCIDA Board Member Nancy Lowery, County Executive Office Vince Raymond, VIP Structures Dan Ingersal, Bluefors Cryocooler Dan Romeo, County Legislature APPROVAL OF GOVERNANCE COMMITTEE MEETING MINUTES – NOVEMBER 9, 2023 Upon a motion by Fanny Villarreal, seconded by Patrick Hogan, the OCIDA Board approved the regular meeting minutes of November 9, 2023. Motion was carried.
Robert Petrovich stated the UTEP has been revised. He stated staff and council went through and made modifications to the housing component. He stated the intent is to create some incentives and activity in the area of housing. He stated there was a housing policy previously called workforce housing. He stated because of the nature of changes within our community currently and also anticipated as a result of Micron, it made sense to take a look at the policy and try to augment it so we could incentivize behavior among the development community to create more housing units in support of the workforce that is coming in temporarily, but also long term and staying in the community. He stated the changes are segmenting the UTEP under housing into three major components with one component having two sub components. He stated the first is market rate housing. He stated what staff and counsel thought would make sense is to incentivize the market rate housing to get projects up and running and to cover the design phase, the financing phase, the build phase and the lease phase over three years and then the property will pay full taxes. He stated the thought is there is no revenue stream coming in, but money going out the door and we would provide a little bit of relief in that regard. He stated the next component is affordable housing. He stated affordable housing has two subcomponents; an affordable component up to 10% of the units being affordable and the second component would be units up to 15% affordable and that would be governed by 80% of the AMI capped at 120%. He stated that affordable housing and affordability of housing in the community is an important issue. He stated the last component is senior housing, empty nesters and folks looking to downsize and getting developers to offer that kind of a project in the community such that they would have additional amenities and incentives to relinquish their home that has grown out of their needs and downsize to a smaller unit. He stated this downsizing would more immediately make that housing stock available to the community. He stated that is an overview of the major components of the revised UTEP related to housing.
Kevin Ryan asked if the State government has issued either a mandate or has encouraged municipalities to expand housing throughout the state and are these changes consistent with that. Robert Petrovich stated he doesn’t think it is inconsistent with that. He stated he does not know if it is perfectly aligned with that he thinks it is generally in line with what the State is trying to do.
Kevin Ryan stated we are taking steps to expand the housing consistent with what Albany has directed we do and this is part of that so this a good idea. Robert Petrovich stated the County Executive is front and center on housing. He stated the UTEP was reviewed with him, received his input and he thinks it makes sense. He stated we recognize we don't want to let perfect be the enemy of the good so we are trying to advance something and if we need to modify it in response to the developer community and what we're seeing out in the marketplace, we are willing to do that. He stated he thinks this is a good start and hopes to see more projects. Patrick Hogan stated he would like to commend the staff and everybody associated with this. He stated we know what is coming and the tremendous housing needs in this community. He stated he thinks this will aggressively address the issue.
Jeff Davis stated there is no motion at this point and this needs to go out for notification to the taxing jurisdictions before there is a formal vote to amend the UTEP. He stated it is just for discussion and to make the Board to be aware of it. He stated the procedural steps will be taken and will be back before the Governance Committee at the next meeting for official consideration. Robert Petrovich stated staff will reach out to the City because we want to ensure they understand what we are trying to do.
No changes and no comments.
No changes and no comments.
No changes and no comments.
Upon a motion by Patrick Hogan, seconded by Fanny Villarreal, the OCIDA Board adjourned the meeting at 8:40 am. Motion was carried.
____________________________________ Svetlana Dyer, Secretary