February 2024 — 2-8-24-OCIDA-Mtg-Minutes-Final.pdf
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Onondaga County Industrial Development Agency
Regular Meeting Minutes
February 8, 2024
A regular meeting of the Onondaga County Industrial Development Agency was held on
Thursday, February 8, 2024, 335 Montgomery Street, Floor 2M, Syracuse, New York.
Patrick Hogan called the meeting to order at 8:32 am with the following:
PRESENT:
Patrick Hogan
Janice Herzog
Kevin Ryan
Fanny Villarreal
Cydney Johnson
Elizabeth Dreyfuss (Zoom)
DELAYED: Susan Stanczyk
ABSENT:
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 (Zoom)
Christopher Andreucci, Harris Beach Law Firm
Kevin McAuliffe, Barclay Damon Law Firm
Heather Lamendola, Barclay Damon Law Firm
Catherine Gridley, TTM Technologies
Joe Schneider, TTM Technologies
Andy Breuer, Heuber Breuer
David Aitken, Destiny USA
Zachary Benjamin, Destiny USA
Nancy Lowery, County Executive Office
Leila Dwyer, Barclay Damon Law Firm
Glenn Coin, Post Standard
APPROVAL OF REGULAR MEETING MINUTES — JANUARY 18, 2024
Upon a motion by Janice Herzog, seconded by Kevin Ryan, the OCIDA Board approved the
regular meeting minutes of January 18, 2024. Motion was carried.
TREASURER’S REPORT
Nate Stevens gave a brief review of the Treasurer’s Report for the month of January 2024.

Onondaga County Industrial Development Agency
Regular Meeting Minutes
February 8, 2024
A regular meeting of the Onondaga County Industrial Development Agency was held on
Thursday, February 8, 2024, 335 Montgomery Street, Floor 2M, Syracuse, New York.
Patrick Hogan called the meeting to order at 8:32 am with the following:
PRESENT:
Patrick Hogan
Janice Herzog
Kevin Ryan
Fanny Villarreal
Cydney Johnson
Elizabeth Dreyfuss (Zoom)
DELAYED: Susan Stanczyk
ABSENT:
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 (Zoom)
Christopher Andreucci, Harris Beach Law Firm
Kevin McAuliffe, Barclay Damon Law Firm
Heather Lamendola, Barclay Damon Law Firm
Catherine Gridley, TTM Technologies
Joe Schneider, TTM Technologies
Andy Breuer, Heuber Breuer
David Aitken, Destiny USA
Zachary Benjamin, Destiny USA
Nancy Lowery, County Executive Office
Leila Dwyer, Barclay Damon Law Firm
Glenn Coin, Post Standard
APPROVAL OF REGULAR MEETING MINUTES — JANUARY 18, 2024
Upon a motion by Janice Herzog, seconded by Kevin Ryan, the OCIDA Board approved the
regular meeting minutes of January 18, 2024. Motion was carried.
TREASURER’S REPORT
Nate Stevens gave a brief review of the Treasurer’s Report for the month of January 2024.

Upon a motion by Fanny Villarreal, seconded by Janice Herzog, the OCIDA Board approved the
Treasurer’s Report for the month of January 2024. Motion was carried.

Upon a motion by Fanny Villarreal, seconded by Janice Herzog, the OCIDA Board approved the
Treasurer’s Report for the month of January 2024. Motion was carried.

PAYMENT OF BILLS
Nate Stevens gave a brief review of the Payment of Bills Schedule #490.
Upon a motion by Kevin Ryan, seconded by Fanny Villarreal, the OCIDA Board approved the
Payment of Bills Schedule #490 for $999,938.48 with PILOT payments to Onondaga County for
$856.60, Town of Onondaga for $2.67, Town of DeWitt for $13.13, Onondaga County for
$1,238,919.44, Town of Cicero for $67,642.49, Town of Clay for $62,500.00, Town of DeWitt
for $91,050.06, Town of Lysander for $86,360.00, City of Syracuse for $38,396.93, Town of
Manlius for $10,265.00, Town of Camillus for $10,446.00, Town of Geddes for $625.94, Village
of Solvay for $4,980.09, Town of Salina for $126,721.31, Village of Liverpool for $4,754.00,
Village of Baldwinsville for $155,583.64, Village of North Syracuse for $16,794.00, Town of
Elbridge for $98,567.00, Town of Skaneateles for $38,295.71, Town of Van Buren for
$108,322.42, West Genesee Central School District for $36,382.00, Solvay Union Free School
District for $10,469.72, Syracuse City School District for $76,222.65, Baldwinsville Central
School District for $986,701.67, East Syracuse Minoa Central School District for $451,507.09,
Liverpool Central School District for $856,024.00, North Syracuse Central School District for
$543,965.22, Jamesville Dewitt Central School District for $15,895.00 , Jordan Elbridge Central
School District for $534,655.00, Fayetteville Manlius Central School District for $34,571.00,
Lyncourt Central School District for $563,562.34 and Skaneateles Central School District for
$213,420.07. Motion was carried.

PAYMENT OF BILLS
Nate Stevens gave a brief review of the Payment of Bills Schedule #490.
Upon a motion by Kevin Ryan, seconded by Fanny Villarreal, the OCIDA Board approved the
Payment of Bills Schedule #490 for $999,938.48 with PILOT payments to Onondaga County for
$856.60, Town of Onondaga for $2.67, Town of DeWitt for $13.13, Onondaga County for
$1,238,919.44, Town of Cicero for $67,642.49, Town of Clay for $62,500.00, Town of DeWitt
for $91,050.06, Town of Lysander for $86,360.00, City of Syracuse for $38,396.93, Town of
Manlius for $10,265.00, Town of Camillus for $10,446.00, Town of Geddes for $625.94, Village
of Solvay for $4,980.09, Town of Salina for $126,721.31, Village of Liverpool for $4,754.00,
Village of Baldwinsville for $155,583.64, Village of North Syracuse for $16,794.00, Town of
Elbridge for $98,567.00, Town of Skaneateles for $38,295.71, Town of Van Buren for
$108,322.42, West Genesee Central School District for $36,382.00, Solvay Union Free School
District for $10,469.72, Syracuse City School District for $76,222.65, Baldwinsville Central
School District for $986,701.67, East Syracuse Minoa Central School District for $451,507.09,
Liverpool Central School District for $856,024.00, North Syracuse Central School District for
$543,965.22, Jamesville Dewitt Central School District for $15,895.00 , Jordan Elbridge Central
School District for $534,655.00, Fayetteville Manlius Central School District for $34,571.00,
Lyncourt Central School District for $563,562.34 and Skaneateles Central School District for
$213,420.07. Motion was carried.

CONFLICT OF INTEREST DISCLOSURE
The Conflict of Interest was circulated. Janice Herzog recused from Destiny USA Real Estate
LLC. There were no other conflicts.
TIM TECHNOLOGIES INC. (3101-24-01A) — INITIAL MEETING
(Susan Stanezyk arrived at meeting.)
Robert Petrovich stated for the Board’s edification and for the record, Barclay Damon is
representing the applicant and Chris Andreucci from Harris Beach is representing the IDA as
conflict counsel.
Kevin McAuliffe stated the purpose of the application is to create a campus for TTM in the
Town of DeWitt. He stated there is an existing structure on Kirkville Road and TTM owns the
parcels north of that location. He stated pursuant to an option agreement, they purchased land on
Fly Road and will construct an approximately 214,000 square foot building. He stated the
overall purpose is to coordinate the work between the two buildings. He stated at the new
facility there will be mass production of high density printed circuit boards, which no other
facility in the United States is currently capable of doing. He stated this facility will do things
that are more frequently done in Southeast Asia. He stated the object is to have this building
become part of the campus and correlate work between these two facilities. He stated the
workers will be interchangeable as they work together toward the design of the printed circuit
boards for ultimate end use by TTM and for defense and other such industries.

CONFLICT OF INTEREST DISCLOSURE
The Conflict of Interest was circulated. Janice Herzog recused from Destiny USA Real Estate
LLC. There were no other conflicts.
TIM TECHNOLOGIES INC. (3101-24-01A) — INITIAL MEETING
(Susan Stanezyk arrived at meeting.)
Robert Petrovich stated for the Board’s edification and for the record, Barclay Damon is
representing the applicant and Chris Andreucci from Harris Beach is representing the IDA as
conflict counsel.
Kevin McAuliffe stated the purpose of the application is to create a campus for TTM in the
Town of DeWitt. He stated there is an existing structure on Kirkville Road and TTM owns the
parcels north of that location. He stated pursuant to an option agreement, they purchased land on
Fly Road and will construct an approximately 214,000 square foot building. He stated the
overall purpose is to coordinate the work between the two buildings. He stated at the new
facility there will be mass production of high density printed circuit boards, which no other
facility in the United States is currently capable of doing. He stated this facility will do things
that are more frequently done in Southeast Asia. He stated the object is to have this building
become part of the campus and correlate work between these two facilities. He stated the
workers will be interchangeable as they work together toward the design of the printed circuit
boards for ultimate end use by TTM and for defense and other such industries.

Robert Petrovich stated the narrative incorporates a lot of what Mr. McAuliffe said but in
addition there is going to be substantial investment in the existing facility, as well as an
expansion across the campus. Kevin McAuliffe agreed and stated they can’t simply define what
it would be today but there is going to be need for more modification of the existing facility as
they identify the needs of production in the future.
Catherine Gridley thanked the Board for letting her come and talk about the project. She stated
she is excited to be here for this. She stated she was born and raised in Syracuse, a boomerang
employee where she came, left and came back. She stated when TTM selected Central New
York for this project it was a really big day for her personally as well as for TTM. She stated
TTM is the largest Department of Defense manufacturer of printed circuit boards in the world.
She stated they are based and headquartered in the United States and the aerospace and defense
business is now headquartered in Central New York at the former Anaren facility. She stated
they are one of the top five printed circuit board manufacturers in the world. She stated they go
beyond the circuit boards, they have a strong micro-electronics presence in Syracuse acquired

Robert Petrovich stated the narrative incorporates a lot of what Mr. McAuliffe said but in
addition there is going to be substantial investment in the existing facility, as well as an
expansion across the campus. Kevin McAuliffe agreed and stated they can’t simply define what
it would be today but there is going to be need for more modification of the existing facility as
they identify the needs of production in the future.
Catherine Gridley thanked the Board for letting her come and talk about the project. She stated
she is excited to be here for this. She stated she was born and raised in Syracuse, a boomerang
employee where she came, left and came back. She stated when TTM selected Central New
York for this project it was a really big day for her personally as well as for TTM. She stated
TTM is the largest Department of Defense manufacturer of printed circuit boards in the world.
She stated they are based and headquartered in the United States and the aerospace and defense
business is now headquartered in Central New York at the former Anaren facility. She stated
they are one of the top five printed circuit board manufacturers in the world. She stated they go
beyond the circuit boards, they have a strong micro-electronics presence in Syracuse acquired

through Anaren in 2018. She stated they are one of the larger micro electronics manufacturers in
the US, certainly for the Department of Defense. She stated in addition to that they have some
extensive radio frequency microwave capability here in Syracuse which has critical strategic
importance to their company. She stated when it comes to the project we are talking about
today, there was an extensive selection process. She stated they looked at every county in the
continental United States and narrowed it down slowly through a process and ultimately landed
on a competition between New York and another state in the south. She stated one of the key
elements of the selection for Central New York was this opportunity to create this campus
environment. She stated the idea of a campus and creating this high tech capability here in the
US on shore, on behalf of the Department of Defense, married up with their micro-electronics
capability that exists today hear in Central New York and also the capability they believe will
end up supplying a number of local, larger aerospace and defense companies. She stated it will
allow them to leverage their existing engineering footprint in Syracuse with the new capability
they are starting in this new facility. She stated they will be collaborating with engineering
organizations locally on the design and development of the boards that will be manufactured at
the site. She stated it is a beautiful model. She stated she can't talk a lot about the technology in
the building but she can explain what is called ultra-high density interconnect. She stated this
capability, at this scale, with this technology is not in the United States today. She stated there is
small pockets of capability, prototyping, low volume but national security requirements are
rapidly moving upwards and they cannot insert that technology into the warfighter without this.
She stated she thinks they are well locked in and have a spectacular design. She stated they have
existing engineering here in the Central New York at the Kirkville Road facility and it is one of
their two engineering centers of excellence, the second one being in Long Island. She stated the
engineering organization here is going to grow. She stated they are excited about the
engineering, especially in the process engineering capability, they will be introducing in the new
building. She stated they will be able to develop a workforce and grow their engineering
footprint much more easily. She stated it is a bit more of a challenge they discovered as they
tried to grow the workforce. She stated they cultivated capability to cross populate between the
two different types of capabilities and to leverage that engineering is critical. She stated another
element they are excited about is having some of the recipients of that product immediately next
door and those engineers can come over and understand how it is moving through the factory.
She stated the collaborative design capability is going to accelerate their ability to get the product
to market and it is going to allow them to correct issues much more quickly. She stated they are

through Anaren in 2018. She stated they are one of the larger micro electronics manufacturers in
the US, certainly for the Department of Defense. She stated in addition to that they have some
extensive radio frequency microwave capability here in Syracuse which has critical strategic
importance to their company. She stated when it comes to the project we are talking about
today, there was an extensive selection process. She stated they looked at every county in the
continental United States and narrowed it down slowly through a process and ultimately landed
on a competition between New York and another state in the south. She stated one of the key
elements of the selection for Central New York was this opportunity to create this campus
environment. She stated the idea of a campus and creating this high tech capability here in the
US on shore, on behalf of the Department of Defense, married up with their micro-electronics
capability that exists today hear in Central New York and also the capability they believe will
end up supplying a number of local, larger aerospace and defense companies. She stated it will
allow them to leverage their existing engineering footprint in Syracuse with the new capability
they are starting in this new facility. She stated they will be collaborating with engineering
organizations locally on the design and development of the boards that will be manufactured at
the site. She stated it is a beautiful model. She stated she can't talk a lot about the technology in
the building but she can explain what is called ultra-high density interconnect. She stated this
capability, at this scale, with this technology is not in the United States today. She stated there is
small pockets of capability, prototyping, low volume but national security requirements are
rapidly moving upwards and they cannot insert that technology into the warfighter without this.
She stated she thinks they are well locked in and have a spectacular design. She stated they have
existing engineering here in the Central New York at the Kirkville Road facility and it is one of
their two engineering centers of excellence, the second one being in Long Island. She stated the
engineering organization here is going to grow. She stated they are excited about the
engineering, especially in the process engineering capability, they will be introducing in the new
building. She stated they will be able to develop a workforce and grow their engineering
footprint much more easily. She stated it is a bit more of a challenge they discovered as they
tried to grow the workforce. She stated they cultivated capability to cross populate between the
two different types of capabilities and to leverage that engineering is critical. She stated another
element they are excited about is having some of the recipients of that product immediately next
door and those engineers can come over and understand how it is moving through the factory.
She stated the collaborative design capability is going to accelerate their ability to get the product
to market and it is going to allow them to correct issues much more quickly. She stated they are

excited about the campus environment.
Robert Petrovich stated the investment is substantial at $120 million and asked Ms. Gridley to
talk about retaining employment and growth associated with the project. Catherine Gridley stated
they expect 400 jobs to be added. She stated they expect those jobs to be added in that campus
portfolio but she is not sure which physical footprint those roles might sit in. She stated they do
know they don’t have the space to grow the engineering footprint. She stated from an
investment perspective they are building out, as soon as the project can proceed. She stated the
building was first designed it started at about 140,000-15,000 square feet but the opportunity for
growth under this campus model is exceptional so they immediately tacked on an additional
40,000 square feet. She stated they will equip and fit about 160,000 square feet and then grow
into the rest. She stated they know the 400 jobs they will create is a no brainer for them. She
stated the growth potential is significant. She stated the workforce development, how they will
address that and how they retain people will tell how rapidly they are able to introduce the
growth that they expect in phase two of the project.

excited about the campus environment.
Robert Petrovich stated the investment is substantial at $120 million and asked Ms. Gridley to
talk about retaining employment and growth associated with the project. Catherine Gridley stated
they expect 400 jobs to be added. She stated they expect those jobs to be added in that campus
portfolio but she is not sure which physical footprint those roles might sit in. She stated they do
know they don’t have the space to grow the engineering footprint. She stated from an
investment perspective they are building out, as soon as the project can proceed. She stated the
building was first designed it started at about 140,000-15,000 square feet but the opportunity for
growth under this campus model is exceptional so they immediately tacked on an additional
40,000 square feet. She stated they will equip and fit about 160,000 square feet and then grow
into the rest. She stated they know the 400 jobs they will create is a no brainer for them. She
stated the growth potential is significant. She stated the workforce development, how they will
address that and how they retain people will tell how rapidly they are able to introduce the
growth that they expect in phase two of the project.

Fanny Villarreal asked if the jobs created will be full or part time and what levels. Catherine
Gridley stated they are all full time. She stated they will run from entry level operators up
through senior technology engineers and site management etc. She stated the most advanced
positions will be senior engineers. She stated they will have experienced engineers as well as
entry level and everything in between. She stated there are lines of production, engineering and
the resources needed to supporting the facility which includes HR, finance and IT.
Fanny Villarreal asked what the salary is for entry level. Catherine Gridley stated market rate at
the time. Kevin McAuliffe stated the lowest pay is $53,000 and the highest is currently
estimated to be $111,000. He stated there are six different categories defined in the application.
He stated the numbers of people in each category is spread out so it is people at all levels that
will be required for this expanded project.

Fanny Villarreal asked if the jobs created will be full or part time and what levels. Catherine
Gridley stated they are all full time. She stated they will run from entry level operators up
through senior technology engineers and site management etc. She stated the most advanced
positions will be senior engineers. She stated they will have experienced engineers as well as
entry level and everything in between. She stated there are lines of production, engineering and
the resources needed to supporting the facility which includes HR, finance and IT.
Fanny Villarreal asked what the salary is for entry level. Catherine Gridley stated market rate at
the time. Kevin McAuliffe stated the lowest pay is $53,000 and the highest is currently
estimated to be $111,000. He stated there are six different categories defined in the application.
He stated the numbers of people in each category is spread out so it is people at all levels that
will be required for this expanded project.

Patrick Hogan stated there are significant national security implications in this. Catherine
Gridley stated she joined TTM in 2019 and prior to that she was with one of their OEM primes.
She stated when she came to the company she learned that the United States is down to 4%, or
maybe even less, of the percentage of printed circuit boards manufactured globally. She stated if
you understand the printed circuit board, it is the foundation for every piece of electronics made
today. She stated the idea that from the early 2000s to now, the United States had manufactured
more than 30% of printed circuit boards and it all moved to Asia. She stated they design it, they
5
develop the technology, it is their intellectual property and it moves offshore. She stated this
particular capability is well established in Southeast Asia and from a national security
perspective, it cannot be manufactured in Southeast Asia in order for our warfighter to get what
they need.
Patrick Hogan asked if TTM is accessing state and federal sources for funding. Catherine
Gridley stated they are currently in discussions with the state and on the federal side they are
having conversations with the Department of Defense.
Patrick Hogan stated he likes the way the PILOT was crafted and wants to commend staff and
the TTM team because it is about 2% more revenue for the municipal entities when everything
gets done and built. Nate Stevens stated that is correct.

Patrick Hogan stated there are significant national security implications in this. Catherine
Gridley stated she joined TTM in 2019 and prior to that she was with one of their OEM primes.
She stated when she came to the company she learned that the United States is down to 4%, or
maybe even less, of the percentage of printed circuit boards manufactured globally. She stated if
you understand the printed circuit board, it is the foundation for every piece of electronics made
today. She stated the idea that from the early 2000s to now, the United States had manufactured
more than 30% of printed circuit boards and it all moved to Asia. She stated they design it, they
5
develop the technology, it is their intellectual property and it moves offshore. She stated this
particular capability is well established in Southeast Asia and from a national security
perspective, it cannot be manufactured in Southeast Asia in order for our warfighter to get what
they need.
Patrick Hogan asked if TTM is accessing state and federal sources for funding. Catherine
Gridley stated they are currently in discussions with the state and on the federal side they are
having conversations with the Department of Defense.
Patrick Hogan stated he likes the way the PILOT was crafted and wants to commend staff and
the TTM team because it is about 2% more revenue for the municipal entities when everything
gets done and built. Nate Stevens stated that is correct.

Cydney Johnson asked what level of education is required for entry level positions. Catherine
Gridley stated degree and certificate.
Robert Petrovich stated this was a competitive process and he and County Executive worked
hard with our state partners to try to make sure that TTM made the right decision to stay in New
York and do the expansion in New York. He stated we couldn’t be happier and this is a big win.
He stated he thinks this is going to be great for De Witt and the overall community. He stated he
is happy to support the project.
Janice Herzog asked if the ultra-high density capability that TTM will be manufacturing in the
new facility is currently being manufactured in in the US or outside of the US. Catherine
Gridley stated it is leading edge technology and it is manufactured in what she would call more
prototype volume in the United States. She stated small scale but the capability is definitely in
existence in Asia for ultra-high density interconnect. She stated what they will be manufacturing
here is all leading edge development so the products themselves are not currently in production,
just the capability is in production.
Robert Petrovich stated that is consistent with the County Executive’s strategy about trying to
facilitate the reshoring of this kind of manufacturing to the United States and obviously
Onondaga County so it's a great win for us.

Cydney Johnson asked what level of education is required for entry level positions. Catherine
Gridley stated degree and certificate.
Robert Petrovich stated this was a competitive process and he and County Executive worked
hard with our state partners to try to make sure that TTM made the right decision to stay in New
York and do the expansion in New York. He stated we couldn’t be happier and this is a big win.
He stated he thinks this is going to be great for De Witt and the overall community. He stated he
is happy to support the project.
Janice Herzog asked if the ultra-high density capability that TTM will be manufacturing in the
new facility is currently being manufactured in in the US or outside of the US. Catherine
Gridley stated it is leading edge technology and it is manufactured in what she would call more
prototype volume in the United States. She stated small scale but the capability is definitely in
existence in Asia for ultra-high density interconnect. She stated what they will be manufacturing
here is all leading edge development so the products themselves are not currently in production,
just the capability is in production.
Robert Petrovich stated that is consistent with the County Executive’s strategy about trying to
facilitate the reshoring of this kind of manufacturing to the United States and obviously
Onondaga County so it's a great win for us.

Upon a motion by Kevin Ryan, seconded by Susan Stanezyk, the OCIDA Board approved an
Inducement Resolution to initiate the TTM Technologies Inc. project and authorize a public
hearing. Motion was carried.

Upon a motion by Kevin Ryan, seconded by Susan Stanezyk, the OCIDA Board approved an
Inducement Resolution to initiate the TTM Technologies Inc. project and authorize a public
hearing. Motion was carried.

DESTINY USA REAL ESTATE, LLC (3101-14-01B) RESOLUTION AUTHORIZING AN
OMNIBUS AMENDMENT TOTRANSACTION DOCUMENTS
Amanda Fitzgerald stated back in December the sale of the Destiny hotel project located on
Hiawatha Boulevard was approved along with the assignment and assumption of the current
PILOT agreement. She stated in connection with the closing of the transaction, the team has
come across several ambiguities in the prior closing document so the decision was made to take
this opportunity of the assignment and the assumption to clarify these ambiguities so the project
will be monitored and administered moving forward is crystal clear to the new owners. She
stated before the Board is a resolution authorizing Robert Petrovich to enter into, on behalf of the
agency, an omnibus amendment which will clarify these ambiguities. She stated the most
relevant ambiguity to clarify is the number of jobs required at the project facility. She stated the
number agreed upon is 74 employees.
Upon a motion by Susan Stanezyk, seconded by Fanny Villarreal, the OCIDA Board approved a
resolution authorizing execution and delivery of an omnibus amendment to transaction
documents in connection with a certain project for Destiny USA Real Estate, Inc. Janice Herzog
recused from voting. Motion was carried.

DESTINY USA REAL ESTATE, LLC (3101-14-01B) RESOLUTION AUTHORIZING AN
OMNIBUS AMENDMENT TOTRANSACTION DOCUMENTS
Amanda Fitzgerald stated back in December the sale of the Destiny hotel project located on
Hiawatha Boulevard was approved along with the assignment and assumption of the current
PILOT agreement. She stated in connection with the closing of the transaction, the team has
come across several ambiguities in the prior closing document so the decision was made to take
this opportunity of the assignment and the assumption to clarify these ambiguities so the project
will be monitored and administered moving forward is crystal clear to the new owners. She
stated before the Board is a resolution authorizing Robert Petrovich to enter into, on behalf of the
agency, an omnibus amendment which will clarify these ambiguities. She stated the most
relevant ambiguity to clarify is the number of jobs required at the project facility. She stated the
number agreed upon is 74 employees.
Upon a motion by Susan Stanezyk, seconded by Fanny Villarreal, the OCIDA Board approved a
resolution authorizing execution and delivery of an omnibus amendment to transaction
documents in connection with a certain project for Destiny USA Real Estate, Inc. Janice Herzog
recused from voting. Motion was carried.

ADJOURN
Upon a motion by Janice Herzog, seconded by Susan Stanezyk, the OCIDA Board adjourned the
Toa
meeting at 8:55 am. Motion was carried.
Robert M. Petrovich, Executive Director

ADJOURN
Upon a motion by Janice Herzog, seconded by Susan Stanezyk, the OCIDA Board adjourned the
Toa
meeting at 8:55 am. Motion was carried.
Robert M. Petrovich, Executive Director