Machine-extracted (OCR) from the official document — formatting is approximate; the official copy governs.
335 MONTGOMERY STREET, FLOOR 2M, SYRACUSE, NY 13202
315.435.3770 • ECONOMICDEVELOPMENT@ONGOV.NET • ONGOVED.COM
Regular Meeting Agenda
March 5, 2026
Call to Order the Regular Meeting of the Agency
A. Approval of Regular Meeting Minutes: December 11, 2025
B. Approval of Regular Meeting Minutes: January 8, 2026
C. Treasurer’s Report
D. Payment of Bills
E. Conflict of Interest
Action Items:
1. 2025 Agency Audit
Agency Action Requested:
a. A resolution of the Board approving the 2025 Audit of the Agency.
2. Jordan Landing LLC and Jordan Landing Housing Development Fund Corporation
(Project #3101-25-07A)
The applicant is proposing to construct 65 mixed-income housing units on approximately 8
acres of currently vacant land in the Village of Jordan. The project includes a community room,
fitness area, supporting housing services, offices, and laundry facilities.
Agency Action Requested:
a. A resolution of the Board declaring the project a Type I action under SEQRA and the
Agency’s intent to be Lead Agency for a coordinated environmental review.
Representative: Jeffrey Davis, Agency Counsel
3. White Pine Science & Technology Park EAF
Agency Action Requested:
a. A resolution of the Board declaring the project a Type I action under SEQRA and the
Agency’s intent to be Lead Agency for a coordinated environmental review.
Representative: Robert Petrovich, Executive Director
Page 1 of 145
4. Town of Dewitt Real Property Purchase and Development Request for Proposals
The Agency is proposing to issue a request for proposals for the purchase and development
of the certain real property in the Town of Dewitt.
Agency Action Requested:
a. A resolution of the Board authorizing the issuance of a request for proposals for the
purchase and development of certain real property in the Town of Dewitt.
Representative: Robert Petrovich, Executive Director
5. Micron New York Semiconductor Manufacturing LLC (Project #3101-23-07A)
Micron New York Semiconductor Manufacturing LLC is requesting an extension of the
termination date of their sales and use tax exemption.
Agency Action Requested:
a. A resolution of the Board authorizing an extension of the sales and use tax exemption
of Micron New York Semiconductor Manufacturing LLC.
Representative: Robert Petrovich, Executive Director
6. Review and Acceptance of the Agency’s Policies and Bylaws
1. Defense and Indemnification Policy
2. Whistleblower Policy
3. Credit and Loan Policy
4. Code of Ethics and Conflict of Interest Policy
5. Compensation, Reimbursement and Attendance Policy
6. Local Access Policy
7. Investment Policy
8. Travel Policy
9. Procurement Policy
10. Property Disposition Policy
11. Real Property Acquisition Policy
Agency Action Requested:
a. A resolution of the Board accepting the Agency’s policies and bylaws.
7. Review and Acceptance of Committee Charters
Agency Action Requested:
a. A resolution of the Board accepting the Governance and Audit Committee Charters.
8. Executive Session
Page 2 of 145
Adjourn
Page 3 of 145
Regular Meeting Minutes
December 11, 2025
A Regular meeting of the Onondaga County Industrial Development Agency was held on Thursday,
December 11, 2025, at 335 Montgomery Street, Floor 2M, Syracuse, New York.
Patrick Hogan called the meeting to order at 8:30 AM with the following in attendance:
PRESENT:
Patrick Hogan
Susan Stanczyk
Elizabeth Dreyfuss
Leslie English
ABSENT:
Fanny Villarreal
Garard Grannell
Cydney Johnson
ALSO PRESENT:
Robert M. Petrovich, Executive Director
Nate Stevens, Treasurer
Alexis Rodriguez, Secretary
Robert Schoeneck, Assistant Treasurer
Evan Carter, Assistant Secretary
Jeffrey Davis, Esq., Agency Counsel
Amanda Fitzgerald, Esq., Agency Counsel (via Zoom)
Mark McNamara, Esq., Agency Counsel (via Zoom)
Matthew Wells, Esq., Agency Counsel
Thomas Clifford, Esq., Agency Counsel
Joe Goethe, Cameron Hinsdale, LLC (via Zoom)
John Cheney, Cameron Hinsdale, LLC (via Zoom)
Approval of Meeting Minutes: November 13, 2025
Upon motion by Susan Stanczyk, seconded by Elizabeth Dreyfuss, the Board approved the regular
meeting minutes of November 13, 2025. Motion was carried.
Approval of Meeting Minutes: November 18, 2025
Upon motion by Susan Stanczyk, seconded by Leslie English, the Board approved the special
meeting minutes of November 18, 2025. Motion was carried.
Page 4 of 145
Treasurer’s Report:
Nate Stevens gave a brief overview of the Treasurer’s Report for the month of November 2025.
Upon motion by Susan Stanczyk, seconded by Elizabeth Dreyfuss, the Board approved the
Treasurer’s Report for the month of November 2025. Motion was carried.
Payment of Bills:
Nate Stevens gave a brief overview of the Payment of Bills.
Upon motion by Susan Stanczyk, seconded by Elizabeth Dreyfuss, the Board approved the Payment
of Bills. Motion was carried.
Action Items:
1. Cameron Hinsdale, LLC (Project #3101-25-05A)
The applicant is proposing to construct a mixed-use residential building/s consisting of
roughly 175 units and a total of roughly 50,000 sq. ft. of commercial space in the Town of
Camillus.
Robert Petrovich made the Board aware that Bond, Schoeneck & King is representing the
Agency for this project.
Joe Goethe introduced the proposed project, explaining that the Applicant is in the process of
acquiring approvals for property across the street (Hinsdale Road) from Township 5 to
develop mixed-use commercial and residential housing. There will be up to 180 apartments
and townhouses and 50,000 sq. ft. of commercial space. 15% of the units will be workforce
housing.
J. Goethe advised that they plan to start construction when the snow melts. J. Goethe advised
that they received their PUD (planned unit development) and are starting to work through the
subdivision and planning, which should be done in 90 days. J. Goethe noted that 20 of the 22
acres in this project are being purchased from the Christ Community Church of the Nazarene,
which is currently exempt from taxes. He explained that the proposed project on this land
will significantly raise the tax revenue on that parcel.
Patrick Hogan asked for clarification regarding the project’s PILOT term and the Agency’s
UTEP.
Page 5 of 145 Alexis Rodriguez advised that the proposed PILOT for the project would be a deviation from the Agency’s UTEP. R. Petrovich stated that the significance of the project, number of units being proposed, and the workforce component is such that the Agency felt this type of project warranted a deviation and the Agency is recommending a 15-year PILOT. Patrick Hogan stated that he agreed with the Agency’s recommended deviation. He noted that this is an exciting project and is quite a step forward. Patrick Hogan read the Agency action requested, “A resolution of the Board authorizing a public hearing.” Motion was made by Susan Stanczyk, seconded by Elizabeth Dreyfuss. Motion was carried. 2. Committee Appointments Patrick Hogan read the Agency action requested of, “A resolution of the Board appointing Elizabeth Dreyfuss to the Governance Committee.” Motion was made by Susan Stanczyk, seconded by Leslie English. Motion was carried. 3. Bid Award: White Pine Commerce Park Demolition The Agency is proposing to accept the bid of a Company to complete site clearance services of vacant Agency owned structures at White Pine Commerce Park.
R. Petrovich explained that a number of years ago when the land was purchased at White
Pine Commerce Park, there were residential homes on the properties. As part of site
readiness, the Agency went out to bid through the appropriate process and selected the low
bidder, which was Gorick Construction, to remove the residences. Prior to this, pre-demo
surveys for asbestos and asbestos removal were completed.
R. Petrovich advised that since then there are a handful of additional properties that require
demolition. The bidding process has been repeated, and the Agency is now in a position to
recommend an award to the low bidder, which is coincidentally Gorick Construction again.
R. Petrovich noted that Gorick Construction is looking forward to assisting the Agency with
the rest residue on the remainder of properties that need to be cleared from the site to advance
it for Micron’s ultimate construction.
R. Petrovich advised that the resolution is to authorize the Agency to begin contract
negotiations on the scope of work.
Page 6 of 145
Patrick Hogan questioned if this was an RFP process.
R. Petrovich confirmed and explained that the Agency coordinated this process with
Onondaga County Purchasing. He believes that the Agency is in the best possible position to
advance this.
Susan Stanczyk questioned if the Agency will use Habitat for Humanity to go through the residences as was done once before. R. Petrovich explained that the possibility is there, and the Agency can reach out to Habitat for Humanity to see if there is enough there for them to want to do a walkthrough of the residences. R. Petrovich clarified that there are some residences, but there are also commercial buildings, such as butler buildings, that were initially going to be salvaged and used during construction operations, but it’s been since determined that they’re not going to be useful and should be taken down. Leslie English questioned if Gorick Construction successfully completed the previous project to the Agency’s satisfaction. R. Petrovich responded yes they did. Patrick Hogan read the Agency action requested, “A resolution of the Board authorizing the Executive Director to accept a bid and enter into one or more agreements for site clearance services with a Company for site clearance services at White Pine Commerce Park.” Motion was made by Susan Stanczyk, seconded by Leslie English. Motion was carried. 4. National Grid – Easement Authorization The Agency wishes to grant an easement to National Grid over portions of lands owned by the Agency for the purpose of facilities to provide electric and gas services.
R. Petrovich explained that this easement is for National Grid to be able to connect power to
the pump station at White Pine South, which will provide sewer service to the area in
addition to Micron. The easement would not take any additional land than what has already
been put forward, which is approximately 1.3 acres of land that is being conveyed ultimately
through a lease and then a purchase to WEP (Onondaga County Department of Water
Environment Protection).
Jeffrey Davis added that there was a Short EAF prepared this. The resolution includes a
negative declaration under SEQR to enter into the easement and authorizes the execution of
the easement on the form consistent with National Grid’s right-of-way easement forms.
Page 7 of 145
Patrick Hogan read the Agency action requested, “A resolution of the Board authorizing the
execution of an easement in connection with property located at 5064 State Route 31 for
facilities to provide electric and gas services.” Motion was made by Susan Stanczyk, seconded
by Elizabeth Dreyfuss. Motion was carried.
5. Onondaga County Waster District – Easement Authorization The Agency wishes to grant an easement to the Onondaga County Water District over portions of lands owned by the Agency for the purpose of constructing and maintaining pipelines for the distribution of water. R. Petrovich explained that this easement will allow the 54-inch transmission main that runs east to west across the southern boundary to be tapped and lines to be brought forward along the Agency-owned property from north-south to Route 31, and ultimately across Route 31. With respect to the property owned by the Agency, this easement authorization will allow OCWA to install the pipelines necessary for the water service in support of the Micron project. J. Davis added that there is a short form EAF included here for an issuance of a negative declaration for the easement. He stated that it is a 50-foot-wide easement, straight shot, running north to south, that will allow OCWA to install the underground water line. Patrick Hogan read the Agency action requested, “A resolution of the Board authorizing the execution of an easement in connection with property located on the easterly side of Caughdenoy Road for the purpose of constructing and maintaining pipelines for the distribution of water.” Motion was made by Susan Stanczyk, seconded by Leslie English. Motion was carried. 6. Discovery Center of Science and Technology – Easement Authorization
Amanda Fitzgerald explained that the City of Syracuse has approached the MOST to see if
they can move the infamous Shot Clock Monument onto the MOST property. Because the
Agency has long outstanding bond financing with the MOST, they’re nominally in the chain
of title.
A. Fitzgerald noted as the Board has seen before, OCIDA is being asked to join the easement
agreement, which will allow for the movement of the monument and continued maintenance
of the monument on the MOST property. The action before the Board is the authorization to
enter into the easement. A. Fitzgerald advised that counsel will make sure that the easement
includes all of the usual Agency indemnification provisions.
J. Davis added that this is considered a Type II Action under SEQR, given the Agency’s
nominal provision in title to enter into this.
Page 8 of 145
Patrick Hogan read the Agency action requested, “A resolution of the Board authorizing
execution of an easement agreement and any related documents in connection with the granting
of a non-exclusive easement to the City of Syracuse.” Motion was made by Susan Stanczyk,
seconded by Elizabeth Dreyfuss. Motion was carried.
7. EDPL – SSO Properties
Mark McNamara explained that this is the culmination of the process with respect to the Eminent Domain Procedure Law (EDPL) Article 2, which started with the public hearing on November 20, 2025 and comments that were received both at the hearing, as well as in writing subsequent to that including from the various counsel who were involved. M. McNamara stated that there was a record that was made of the hearing, including a transcript. All of that was made available at the Agency’s office as well as the Onondaga County Clerk’s Office, pursuant to the statute. The action before the Board today is in regards to the determination and findings, which is required under EDPL 204 by the Agency, having had the hearing. The determination and findings is with respect to the acquisition of the easements over the two SSO properties for the proposed wastewater conveyance pipeline that is necessary for Phase I of the Micron project.
M. McNamara advised that the determination of findings essentially sets forth the public use, benefit, and purpose of the project for which these easements are being acquired, the location and any alternative locations which were considered in connection with the project, the environmental impacts, which is a restatement and adoption of the findings statement which the Agency made a couple of weeks ago by having completed the entire SEQR process, and anything else that one wants to make a finding about, as stated in the statute. M. McNamara stated that before the Board is the resolution with an attached exhibit of the determination of findings and attached to that are two exhibits. The first exhibit is a map showing where the SSO easements on the two parcels are located, and the map that comes from the Final Environmental Impact Statement that shows the general orientation of the project and where the wastewater line would be. The second exhibit to the determination of findings is the actual SEQR findings statement and resolution which was adopted a few weeks ago. J. Davis added for context that the resolution before the Board is the adoption of the determination and finding as M. McNamara explained. That determination and findings statement is only related to the two easement properties for SSO.
J. Davis noted that the determination and findings specifically states that it does not relate to
and does not include the land on Caughdenoy Road owned by Azalia King. This
Page 9 of 145
determination and findings is only proceeding with the acquisition of the easements
necessary for the conveyance system across the SSO properties.
Patrick Hogan read the Agency action requested, “A resolution of the Board adopting the New
York Eminent Domain Procedure Law 204 Determination and Findings Regarding Potential
Acquisition of Property Interest by purchase or eminent domain and related actions for the
Micron New York Semiconductor Manufacturing LLC Project.” Motion was made by Susan
Stanczyk, seconded by Elizabeth Dreyfuss. Motion was carried.
8. PSL of Fayetteville LLC & Fayetteville MC Owner (3101-22-09A) Modification Meeting PSL of Fayetteville LLC & Fayetteville MC Owner are requesting an increase to their mortgage recording tax exemption amount from $92,326 to $115,500. A. Fitzgerald explained that this is regarding the Peregrine project that the Board approved several years ago in connection with a senior care facility in the Town of Manlius. The project is now ready to close and their costs have increased by $2.5 million. Their corresponding mortgage has increased by that much. The action before the Board is that the Agency authorizes an increase in the mortgage recording tax exemption to cover the mortgage recording tax that will be due on that increased mortgage amount. A. Fitzgerald noted that as the Board has seen before, increases of financial assistance over $100,000 do not require a new public hearing. If the Board approves the increase, the Agency can move forward with processing the increase, which will be about $23,174 more in mortgage recording tax exemption. Susan Stanczyk asked why the project has been delayed. R. Petrovich stated that the Agency has been monitoring the project for a while. The Applicant’s position is that there’s a very tough financing market for these types of projects. He added that they pivoted to involve HUD in the project and that a key partner in the project passed away.
R. Petrovich advised that the Applicant is ready to close on the project, noting that the
Agency staff advised to the Applicant that if they didn’t close soon, they’d have to come
before the Board again. He stated that he thinks it’s a worthy project to advance.
Susan Stanczyk concurred that this is a great project.
Patrick Hogan added that this project serves part of the population that’s certainly needed.
Patrick Hogan read the Agency action requested, “A resolution of the Board authorizing an
increase of the mortgage recording tax exemption for PSL of Fayetteville LLC & Fayetteville
Page 10 of 145
MC Owner.” Motion was made by Susan Stanczyk, seconded by Elizabeth Dreyfuss. Motion
was carried.
9. Executive Session
J. Davis brought the action of Executive Session for the purpose of discussing a potential
settlement of pending and threatened litigation.
Motion to enter Executive Session was made by Susan Stanczyk, seconded by Elizabeth
Dreyfuss. Motion was carried.
Motion to come out of Executive Session was made by Susan Stanczyk, seconded by
Elizabeth Dreyfuss. Motion was carried.
10. Litigation Settlement Agreement
J. Davis explained that the first resolution before the Board is requesting authorization to enter into and execute a settlement agreement with Azalia King. This will settle pending litigation involving the license and occupancy agreement, as well as resolving the eminent domain process that the Agency started with regard to the King property. J. Davis stated that the settlement agreement is broken down in a couple different ways. He explained that the first part is the resolution of the license and occupancy agreement in an amount of $450,000, which allows Mrs. King to stay on the property until May 1, 2026, but also allows necessary work that needs to be done at the property to continue while that occupancy remains until May 1, 2026. J. Davis advised that the second part of the agreement is the purchase of land that the Agency does not own but some time ago had tried to acquire. The land is across the street from the King property on Caughdenoy Road. The second resolution is entering into a purchase and sale agreement to acquire 6.5 acres of vacant land for $2.5 million across the street from the White Pine Commerce Park site that was previously identified as a location for potential supply chain.
J. Davis advised that there two components to this in terms of the resolution before the
Board. Because the Agency is acquiring land, there is an EAF that has been prepared and a
SEQR determination that will need to be passed by the Board to enter into a negative
declaration to acquire the land that the Agency does not own. The second part is authorizing
the acceptance and entering into the settlement agreement, which includes the total payment
of $450,000, the $2.5 million, as well as other provisions in the settlement agreement.
Page 11 of 145
R. Petrovich added that by entering into this agreement, the EDPL action and any pending
litigation relative to the license agreement will be resolved.
J. Davis confirmed, and added that it resolves the pending litigation, threatened litigation, and
the EDPL action will all be resolved as a result of entering into this settlement agreement.
Patrick Hogan read the Agency action requested (a), “A resolution of the Board authorizing
the adoption of a SEQRA determination for the acquisition of property.” Motion was made by
Susan Stanczyk, seconded by Elizabeth Dreyfuss. Motion was carried.
Patrick Hogan read the Agency action requested (b), “A resolution of the Board authorizing
execution and delivery of a settlement agreement which includes termination of an Occupancy
Agreement and acquisition of lands on Caughdenoy Road designated as tax map no. 047.-01-
14.4.” Motion was made by Susan Stanczyk, seconded by Elizabeth Dreyfuss. Motion was
carried.
Prior to adjournment, Patrick Hogan wanted to express his gratitude for serving with this
Board through all the years and being appointed by who’s now the County Executive, Mr.
McMahon, when he was Chair of the Legislature. He stated that it’s been a real pleasure and
the Agency has accomplished a lot of things, and he appreciates all of the Board members
and Agency staff.
R. Petrovich expressed his gratitude for Patrick Hogan stating that he’s been the Chairman
for his entire time as Executive Director of the Agency, and he thanked for his partnership,
clear vision, and support.
R. Petrovich expressed his gratitude for Susan Stanczyk, stating that she’s had an
instrumental role in what the Agency has been doing from the very beginning in expanding
the White Pine site.
Susan Stanczyk thanked the team at the Agency and commended the work that they do. She
noted that over the years the Board has gotten stronger and has helped with so many great
projects. She expressed her appreciation for executive leadership, the department, and the
legislature.
Elizabeth Dreyfuss thanked Patrick Hogan and Susan Stanczyk for their leadership, wisdom,
and willingness to work with the Board members and staff.
Motion to adjourn was made by Susan Stanczyk and seconded by Elizabeth Dreyfuss at 9:15 AM.
___________________________________
Alexis Rodriguez, Secretary
Page 12 of 145
Regular Meeting Minutes
January 8, 2026
A Regular meeting of the Onondaga County Industrial Development Agency was held on Thursday,
January 8, 2026, at 335 Montgomery Street, Floor 2M, Syracuse, New York.
Robert Petrovich called the meeting to order at 8:30 AM with the following in attendance:
PRESENT:
Randy Wolken
Cydney Johnson
Garard Grannell
Alan Marzullo
Mark Muthumbi
ABSENT:
Elizabeth Dreyfuss
Leslie English
ALSO PRESENT:
Robert M. Petrovich, Executive Director
Nate Stevens, Treasurer
Alexis Rodriguez, Secretary
Robert Schoeneck, Assistant Treasurer
Evan Carter, Assistant Secretary
Jeffrey Davis, Esq., Agency Counsel
Amanda Fitzgerald, Esq., Agency Counsel
Matthew Wells, Esq., Agency Conflict Counsel
Thomas Clifford, Esq., Agency Conflict Counsel
Chris Andreucci, Esq., Agency Conflict Counsel
Joe Goethe, Cameron Hinsdale, LLC
Patrick Rock, Jordan Landing LLC and Jordan Landing Housing Development Fund Corporation
Kevin McCauliffe, Esq., Applicant Counsel
Prior to the agenda at hand, R. Petrovich welcomed the new board members and wished everyone a
Happy New Year.
Approval of Meeting Minutes: December 11, 2025
R. Petrovich explained that the Board will table this approval for the following meeting because
members of the Board who were at that meeting are not present currently.
Page 13 of 145
Treasurer’s Report:
Nate Stevens gave a brief overview of the Treasurer’s Report for the month of December 2025.
Upon motion by Cydney Johnson, seconded by Garard Grannell, the Board approved the Treasurer’s
Report for the month of December 2025. Motion was carried.
Payment of Bills:
Nate Stevens gave a brief overview of the Payment of Bills.
Upon motion by Cydney Johnson, seconded by Alan Marzullo, the Board approved the Payment of
Bills. Motion was carried.
Action Items:
1. Board Appointments
R. Petrovich put forth Randy Wolken as Chairperson of the Board.
R. Petrovich read the Agency action requested, “A resolution of the Board appointing Randy
Wolken as Chair.” Motion was made by Alan Marzullo, seconded by Cydney Johnson.
Motion was carried.
2. Cameron Hinsdale, LLC (Project #3101-25-05A)
The applicant is proposing to construct a mixed-use residential building/s consisting of
roughly 175 units and a total of roughly 50,000 sq. ft. of commercial space in the Town of
Camillus.
Matthew Wells explained to the Board that the resolution before them is the approving
resolution for the lease-leaseback transaction with the Applicant.
M. Wells explained to the new Board members that the SEQR process has already been
completed for the project and the Agency issued a negative declaration. He noted that the
public hearing requirements have also been completed.
Joe Goethe advised that he’s the Applicant for this project and he is also the developer of
Township 5 (T5). J. Goethe advised that his team looked at Plan Onondaga’s Pro-Housing
Plan that highlights T5 as an emerging center and wanted to create a walkable, mixed-use,
Page 14 of 145
residential community within that emerging center. He advised that the project’s goal is to expand on the existing designation as an emerging center by bringing in more housing. The project is aligned with Plan Onondaga and the Camillus Comprehensive Plan. J. Goethe advised that his team approached the Christ Community Church of the Nazarene to acquire its 20 acres, which has a religious tax exemption currently. The project proposed will increase the tax base by taking away religious exemption. J. Goethe noted that the project will be a significant win for the community. J. Goethe advised that they changed the project to a Planned Unit Development (PUD) within the Town of Camillus and have had their sketch plan approved and are submitting for a subdivision in the week following this meeting. The Applicant has received all comments from the involved agencies, and from the comments received, there aren’t any significant issues. The most significant issue is traffic. J. Goethe advised that they’re working with Stantec to develop a traffic plan in accordance with NYSDOT and Onondaga County DOT.
Referring to the map displayed to the Board during the meeting, J. Goethe explained that directly across from T5 shows 180 total residential units, including 30 townhouses and 150 apartments at 12 units per apartment building. Connecting the residential units to T5 is commercial space to help expand the number of tenants at T5 to make this a mixed-use project. J. Goethe advised that they’re working on getting a small grocery store, as well as some restaurants to occupy some of the commercial space. J. Goethe noted that there will be a walking path and sidewalks that connect into the intersections so that it will be easily accessible to T5 and the amenities there. There will also be a Town road that will connect from Hinsdale Road to Warners Road. The Town of Camillus is in agreement to take over that road. J. Goethe stated that the project will have 15% of workforce housing units. He noted that they have already received a lot of interest for both townhouses and apartments. J. Goethe advised that they anticipate being done with planning by March. Alexis Rodriguez noted to the Board that a public hearing was held in connection with this project on December 31, 2025, at the Town of Camillus Municipal Offices. There was one verbal comment that was included on the recording that was sent to all of the Board members in advance of the meeting. The comment was from a Town of Camillus resident. A. Rodriguez noted that the Agency also received one written comment.
A. Rodriguez advised that Bond, Schoeneck and King assisted the Agency in circulating
deviation letters to all involved municipalities following the public hearing.
Page 15 of 145
Alan Marzullo asked how many local jobs the project will create. J. Goethe answered that it
will create around 75 construction jobs and because it’s a small commercial project, there
will be about 25 full-time jobs.
Randy Wolken commented that this will be a fantastic project.
Randy Wolken read the Agency action requested of, “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.” Motion was made by Alan Marzullo, seconded by Garard
Grannell. Motion was carried.
3. Immediate Mailing Services, Inc. & 245 Commerce LLC (3101-18-02A) Modification
Meeting
Immediate Mailing Services, Inc. and 245 Commerce LLC have requested the execution and
delivery of a mortgage and related documents with respect to a refinancing.
Amanda Fitzgerald explained that this is an administrative action. The Agency has an
existing straight-lease transaction with the project because they are under a PILOT. Any
subsequent refinancing requires the Agency to join the documents because of the Agency’s
nominal interest in title.
A. Fitzgerald explained that this is a resolution of the Board authorizing the Agency to join
the refinancing documents. No additional benefits are being requested in this transaction.
Randy Wolken read the Agency action requested, “A resolution of the Board authorizing the
execution and delivery of documents.” Motion was made by Cydney Johnson, seconded by
Garard Grannell. Motion was carried.
4. Jordan Landing LLC and Jordan Landing Housing Development Fund Corporation
(Project #3101-25-07A) First Meeting
The applicant is proposing to construct 65 mixed-income housing units on approximately 8
vacant acres of land in the Village of Jordan. The project will also include a community
room, fitness area, supporting housing services, offices, and laundry facilities.
Patrick Rock advised that he’s the owner/operator of Rock PMC, and his family’s business
have been building and operating affordable housing in CNY for the last 40 years.
Page 16 of 145
P. Rock stated that they’re seeking to build 65 units in the Village of Jordan adjacent to 90
units at properties that they already own in the Village. 30 units will be supportive housing
for veterans and the other 35 will be 1, 2, and 3-bedroom units for working families,
hopefully capturing some workers from Micron.
P. Rock advised that they submitted an application to NYS for financing opportunities. He noted that the project has had municipal support from its origination, which was about a year ago. The project’s site is adjacent to the Erie Canal and walking distance from Downtown Jordan. P. Rock explained that they’re a co-developer with Rockabill and Eagle Star Housing is the supportive services partner who operates similar housing for veterans throughout Upstate NY. Randy pointed out that this project will support veterans in addition to the workforce housing. Jeffrey Davis explained that the action before the Board is authorizing the Agency to take the necessary steps to hold a public hearing on the IDA benefits being requested by the Applicant. Randy Wolken read the Agency action requested, “A resolution of the Board authorizing a public hearing.” Motion was made by Alan Marzullo, seconded by Mark Muthumbi. Motion was carried. 5. TTM Technologies, Inc. (3101-24-01A) Modification Meeting TTM Technologies, Inc. is requesting an extension of the termination date of their sales and use tax exemption. R. Petrovich advised that this project came before the Agency approximately one year ago. He noted that its capital expenditure is over $100 million plus additional investments, and that the County competed against South Carolina to win this project.
R. Petrovich noted that as a result of the project, TTM Technologies will be doubling their
local employment with high-paying engineering jobs. He advised that the project is
advancing and nearing completion. He explained that the request before the Board is an
extension of time for their sales and use tax exemption. There is no increase in benefits.
Randy Wolken read the Agency action requested, “A resolution of the Board authorizing an
extension of the sales and use tax exemption of TTM Technologies, Inc.” Motion was made
by Cydney Johnson, seconded by Alan Marzullo. Motion was carried.
Page 17 of 145
6. Committee Appointments
Randy Wolken asked for any comments or concerns about the proposed appointments for the
Finance Committee, Governance Committee, and Audit Committee.
J. Davis read through the appointees on their respective Committees. He advised that the
appointments can be combined into one resolution.
Randy Wolken read the Agency action requested of “A resolution of the Board appointing
members to the Finance Committee, Governance Committee, and Audit Committee.”
Motion was made by Garard Grannell, seconded by Mark Muthumbi. Motion was carried.
7. Slate of Officers for the 2026 Agency Fiscal Year
Robert Petrovich, Executive Director
Alexis Rodriguez, Secretary
Nate Stevens, Treasurer
Evan Carter, Assistant Secretary
Robert Schoeneck, Assistant Treasurer
Alexis Rodriguez, Public Hearing Officer
Robert Petrovich, Freedom of Information Act Officer
Randy Wolken, Freedom of Information Act Appeals Officer
A. Rodriguez noted that this is a review for the Board and no action is required.
J. Davis read through the Slate of Officers as described above.
Motion to adjourn was made by Alan Marzullo and seconded by Cydney Johnson at 8:51 AM.
___________________________________
Alexis Rodriguez, Secretary
Page 18 of 145
February 28, 2026
Revenue / Expense / Income Current Period Current YTD
Operating/Non-Op Revenue 10,045,769 10,812,586
Administrative Expense 68,541 142,118
Operating/Program Expense 87,325 270,775
Net Ordinary Income 9,889,904 10,670,458
Current Assets Current YTD
Total Cash 10,951,045
Less Pass Through Received 708,371
Net Cash 10,242,675
Page 19 of 145
Page 20 of 145
Page 21 of 145
Page 22 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY PAYMENT OF BILLS - SCHEDULE #514 March 5, 2026
GENERAL EXPENSES 1. BRIAN R. HALL - RECEIVER OF TAXES* $ 67,902.49 WPCP 2026 Real Property Taxes - Town of Clay 2. KARI DAVIS - ACTING RECEIVER OF TAXES* $ 501.27 WPCP 2026 Real Property Taxes - Town of Cicero 3. COMMISSIONER OF FINANCE* $ 813.98 800 Hiawatha Blvd - 2026 Property Taxes 4. ANGELA EPOLITO, RECEIVER OF TAXES** $ 64,665.24 3649 Erie Blvd E Real Property Taxes - Town of DeWitt 5. BARCLAY DAMON*** $ 177,777.78 December 2025 Legal Costs 6. JMT OF NEW YORK, LLP*** $ 128,787.88 December 2025 Engineering Costs 7. BARCLAY DAMON*** $ 87,324.07 Micron Rail Spur - PILOT 8. BARCLAY DAMON*** $ 29,374.24 Micron - EDPL - Inv #5371985 9. BARCLAY DAMON*** $ 25,931.22 Micron - EDPL - Inv #5375754 10. ONONDAGA COUNTY**** $ 846,517.61 2025 OED Administrative Expense 11. ONONDAGA COUNTY***** $ 1,487,926.36 Purchase of Tax Parcels #063.-01-02.1 & 063.-01-02.2 12. CHICAGO TITLE INSURANCE COMPANY***** $ 25,172.50 Purchase of Tax Parcels #063.-01-02.1 & 063.-01-02.2
Page 23 of 145 13. LOVELL AND ASSOCIATES $ 3,000.00 January 2026 Consulting 14. JMT OF NEW YORK, LLP $ 25,820.71 Roth Steel, Inv #46-106665 15. ADVANCE MEDIA NEW YORK $ 145.28 Inv #3720384 - Hinsdale Rd Proj - Public Notice 16. BARCLAY DAMON $ 8,128.01 King - EDPL - Inv #5375771 17. BARCLAY DAMON $ 2,600.00 OCIDA v. King - Inv #5374953 18. BARCLAY DAMON $ 1,367.50 Retained Corporate & Public Finance Matters - Inv #5375826 19. BARCLAY DAMON $ 4,589.50 OCIDA - Shoppingtown - Inv #5379305 20. DOWNTOWN COMMITTEE OF SYRACUSE $ 2,500.00 Membership Renewal - Inv #0025615-IN 21. BARCLAY DAMON $ 9,099.50 WPSTP Inv#5374794 22. BARTON & LOGUIDICE $ 11,399.00 WPSTP - Inv #158318 23. BARTON & LOGUIDICE $ 4,356.00 WPCP Site Prep - In #157104 24. BARCLAY DAMON $ 915.00 Retained Corporate & Public Finance Matters - Inv #5379267
25. BARCLAY DAMON $ 9,177.00
Micron Retained OCIDA Support - Inv #5379232
26. BARCLAY DAMON $ 340.50
King v. OCIDA - Inv # 5379274
27. BARCLAY DAMON $ 3,790.40
King - EDPL - Inv #5379271
Page 24 of 145
28. BARCLAY DAMON $ 30.00
Roth Steel - Inv #5379268
29. BARCLAY DAMON $ 79,437.50
Neighbors v. OCIDA - Inv #5379273
30. BARCLAY DAMON $ 1,062.50
Micron - EDPL Utility Easements - Inv #5379269
31. BARCLAY DAMON $ 7,591.50
OCIDA - Shoppingtown - Inv #5379270
32. BARCLAY DAMON $ 3,406.50
WPSTP - Inv #5379307
33. JMT OF NEW YORK, LLP $ 7,870.00
Roth Steel, Inv #47-106814
34. LOVELL AND ASSOCIATES $ 3,000.00
February 2026 Consulting
35. NEW YORK STATE ECONOMIC DEVELOPMENT COUNCIL $ 3,500.00
NYSEDC - Sponsorship
36. ABC CREATIVE $ 12,097.72
Agency Marketing - Inv #8921
37. ROBERT PETROVICH $ 201.55
Conference Travel Expense
38. NANCY LOWERY $ 224.32
Conference Travel Expense
39. NATHANIEL STEVENS $ 224.32
Conference Travel Expense
40. LEONARD RAUCH $ 224.32
Conference Travel Expense
41. ALEXIS RODRIGUEZ $ 224.32
Conference Travel Expense
42. EVAN CARTER $ 224.32
Conference Travel Expense
Page 25 of 145
43. JACKSON BREED $ 224.32
Conference Travel Expense
44. ROBERT SCHOENECK $ 212.94
Conference Travel Expense
TOTAL $ 3,149,679.17
Page 26 of 145
PAYMENT OF BILLS - SCHEDULE #514
March 5, 2026
PILOT Payments
1. ONONDAGA COUNTY* $ 9,520.39
COR Inner Harbor - Master & Sub Proj #1 - 4th Qtr PILOT Payment
2. CITY OF SYRACUSE* $ 7,856.80
COR Inner Harbor - Master & Sub Proj #1 - 4th Qtr PILOT Payment
3. SYRACUSE CITY SCHOOL DISTRICT* $ 12,838.94
COR Inner Harbor - Master & Sub Proj #1 - 4th Qtr PILOT Payment
4. ONONDAGA COUNTY** $ 1,372,018.39
2026 PILOT Payments
5. CITY OF SYRACUSE** $ 50,586.00
2026 PILOT Payments
6. TOWN OF CAMILLUS** $ 18,342.49
2026 PILOT Payments
7. TOWN OF CICERO** $ 64,516.28
2026 PILOT Payments
8. TOWN OF CLAY** $ 77,823.00
2026 PILOT Payments
9. TOWN OF DEWITT** $ 172,076.68
2026 PILOT Payments
10. TOWN OF ELBRIDGE** $ 110,978.39
2026 PILOT Payments
10. TOWN OF GEDDES** $ 101.32
2026 PILOT Payments
11. TOWN OF LAFAYETTE** $ 6,646.00
2026 PILOT Payments
Page 27 of 145
12. TOWN OF LYSANDER** $ 95,300.00
2026 PILOT Payments
13. TOWN OF SALINA** $ 145,255.58
2026 PILOT Payments
14. TOWN OF SKANEATELES** $ 25,244.00
2026 PILOT Payments
15. TOWN OF VAN BUREN** $ 83,769.71
2026 PILOT Payments
16. VILLAGE OF BALDWINSVILLE** $ 195,997.99
2026 PILOT Payments
17. VILLAGE OF CAMILLUS** $ 1,292.63
2026 PILOT Payments
18. VILLAGE OF LIVERPOOL** $ 5,205.00
2026 PILOT Payments
19. VILLAGE OF NORTH SYRACUSE** $ 20,474.00
2026 PILOT Payments
20. VILLAGE OF SOLVAY** $ 809.81
2026 PILOT Payments
21. BALDWINSVILLE CSD** $ 996,930.48
2026 PILOT Payments
22. EAST SYRACUSE MINOA CSD** $ 843,842.48
2026 PILOT Payments
23. JAMESVILLE DEWITT CSD** $ 25,494.00
2026 PILOT Payments
24. JORDAN-ELBRIDGE CSD** $ 610,962.23
2026 PILOT Payments
Page 28 of 145
25. LAFAYETTE CSD** $ 22,374.00
2026 PILOT Payments
26. LIVERPOOL CSD** $ 725,235.73
2026 PILOT Payments
27. LYNCOURT CSD** $ 589,380.46
2026 PILOT Payments
28. MARCELLUS CSD** $ 3,355.89
2026 PILOT Payments
29. NORTH SYRACUSE CSD** $ 584,104.24
2026 PILOT Payments
30. SKANEATELES CSD** $ 136,946.00
2026 PILOT Payments
31. SOLVAY CSD** $ 5,169.78
2026 PILOT Payments
32. SYRACUSE CITY SCHOOL DISTRICT** $ 94,737.00
2026 PILOT Payments
33. WEST GENNESSE CSD** $ 56,006.95
2026 PILOT Payments
34. ONONDAGA COUNTY $ 109,639.41
2026 PILOT Payments
35. CITY OF SYRACUSE $ 3,371.13
2026 PILOT Payments
36. TOWN OF CICERO $ 8,560.00
2026 PILOT Payments
37. TOWN OF CLAY $ 5,851.00
2026 PILOT Payments
Page 29 of 145
38. TOWN OF DEWITT $ 12,599.17
2026 PILOT Payments
39. TOWN OF LYSANDER $ 1,310.00
2026 PILOT Payments
40. TOWN OF VAN BUREN $ 51,140.00
2026 PILOT Payments
41. BALDWINSVILLE CSD $ 341,418.00
2026 PILOT Payments
42. EAST SYRACUSE MINOA CSD $ 62,476.98
2026 PILOT Payments
43. LIVERPOOL CSD $ 61,177.00
2026 PILOT Payments
44. NORTH SYRACUSE CSD $ 38,622.00
2026 PILOT Payments
45. SYRACUSE CITY SCHOOL DISTRICT $ 12,205.87
2026 PILOT Payments
TOTAL $ 7,879,563.20
*Ratification of checks dated 1/15/2026
**Ratification of checks dated 2/5/2026
Page 30 of 145
(A DISCRETELY PRESENTED COMPONENT UNIT
OF THE COUNTY OF ONONDAGA, NEW YORK)
FINANCIAL STATEMENTS AND
SUPPLEMENTARY INFORMATION
December 31, 2025 and 2024
Page 31 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(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, 2025 and 2024 8
Statements of Revenues, Expenses and Changes in Net Position -
For the Years Ended December 31, 2025 and 2024 9
Statements of Cash Flows -
For the Years Ended December 31, 2025 and 2024 10 - 11
Notes to Financial Statements 12 - 21
Supplementary Information:
Supplemental Schedule of Revenue Bonds and Other Bonds (Conduit Debt Obligations) 22 - 23
Page 32 of 145
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,
2025 and 2024, and the related notes to the financial statements, which collectively comprise the Agency’s basic
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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, 2025 and 2024, and the changes in its financial position and its
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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
D
(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.
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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
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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.
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• 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.
D
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
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
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Page 34 of 145
(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 5, 2026, 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
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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.
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Syracuse, New York
March 5, 2026
D
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ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED) This section of the Onondaga County Industrial Development Agency’s (the Agency), a discretely presented component unit of Onondaga County, New York (the County), and the annual financial report presents our discussion and analysis of the Agency’s financial performance during the year ended December 31, 2025. It should be read in conjunction with the Agency’s financial statements and accompanying notes.
FINANCIAL STATEMENTS 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
December 31,
2025 2024 2023
Cash and cash equivalents $ 10,467,592 $ 10,430,970 $ 6,329,946
Receivables - agency fees 127,111 113,612 293,448
Receivables - White Pine pass through 310,931 306,566 2,027,442
Receivables - PILOT pass through 30,216 24,221 -
Capital assets 5,280,648 2,745,397 2,746,373
Investment in real property 36,347,000 30,756,703 30,756,703
Total assets 52,563,498 44,377,469 42,153,912
Current liabilities 1,534,798 2,051,793 2,304,600
Notes payable to Onondaga County 39,562,890 31,174,716 29,902,708
Total liabilities 41,097,688 33,226,509 32,207,308
Net position:
Net investment in capital assets 5,280,648 2,745,397 2,746,373
Unrestricted 6,185,162 8,405,563 7,200,231
Total net position 11,465,810 11,150,960 9,946,604
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Page 36 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED)
Condensed Comparative Financial Information (continued)
The change in assets, liabilities and net position categories for the year ended December 31, 2025 compared to
December 31, 2024 included the following:
Total operating cash increased $614,942 due to current operations, which included an increase of cash from
agency and other fees of $765,737, compared to cash inflows in 2024. Approximately 93% of agency fees
received during 2025 relate to projects approved for Semiconductor Components Industries, LLC
($1,485,625), Upstate Pathology Lab Ownership, LLC ($1,119,000) and Micron New York Semiconductor
Manufacturing, LLC ($1,333,333). The Agency spent $3,179,746 in cash expenses which is an increase of
$2,490,941 from 2024, primarily due to costs incurred for economic development.
Current liabilities decreased $516,995, primarily due to decreases of $601,537 of an escrow for an Agency
project, offset by the timing of professional fees related to normal Agency operations (accounts payable
increase of $35,008) and an increase of $34,764 due to Onondaga County for costs of operation.
The note payable to Onondaga County of $39,562,890 represents the advances and accrued interest against
a note agreement entered into with Onondaga County to assist the Agency in funding its program incentives,
projects, asset development and work related improvements. The primary use of the advances are related
to the White Pine Commerce Park (WPCP) and supply chain site readiness (SCSR).
The Agency’s total net position increased $314,850. Operating revenues exceeded operating expenses by
$1,155,796 in the current year, a net decrease of $961,423 from the prior year. Operating expenditures
totaling $6,991,978, net of pass-through PILOT expenses, primarily consists of White Pine Commerce Park
pass-through expenses totaling $3,742,460, operation costs due to Onondaga County totaling $846,518 and
development costs totaling $2,166,023 which increased $1,763,911 compared to 2024. General and
administrative expenses totaling $207,268 primarily consist of ordinary business expenses of the Agency, such
as rent, professional fees and other Agency related expenses.
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Page 37 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED)
Condensed Comparative Financial Information (continued)
Years Ended December 31,
2025 2024 2023
Operating revenues $ 18,922,155 $ 17,864,372 $ 17,432,835
Operating expenses 17,766,359 15,747,153 15,461,763
Operating income 1,155,796 2,117,219 1,971,072
Other revenues (expenses) (840,946) (912,863) (4,496,517)
Change in net position 314,850 1,204,356 (2,525,445)
Net position - beginning of year 11,150,960 9,946,604 12,472,049
Net position - end of year $ 11,465,810 $ 11,150,960 $ 9,946,604
Change in financial categories between the year ended December 31, 2025 and the year ended December 31, 2024
include the following:
Operating Revenues increased $1,057,783 in 2025 compared to an increase of $431,537 in 2024. This was
primarily due to the following: 1) Increase in overall Agency fees received of $959,072 compared to 2024, 2)
Decrease in subsidies, grants and donations of $95,380, 3) Increase in PILOT pass-through income of $538,533
and 4) Decrease of pass-through income of $266,660 compared to 2024 for services primarily related to White
Pine Commerce Park that will be reimbursed by a Company that will utilize the Park.
Operating Expenses increased $2,019,206 in 2025 compared to an increase of $285,390 in 2024. This was
primarily due to the following: 1) Increase of development costs of $1,763,911, 2) Increase in PILOT pass-
through expenses of $538,532 and 3) Decrease of pass-through expenses of $266,659 compared to 2024 for
services primarily related to White Pine Commerce Park that will be reimbursed by a Company that will utilize
the Park.
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Page 38 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
MANAGEMENT'S DISCUSSION AND ANALYSIS (UNAUDITED) Analysis of Overall Financial Position and Results of Operations The Agency is engaged in activities to support economic growth in Onondaga County, including job creation and retention, and increasing the net wealth of the County. The Agency does not receive any general appropriations from local, county or state government to support its operations. The Agency collects revenue for its operating purposes from the issuance of bonds and straight lease transactions and from interest on investments. In the year ended December 31, 2025, the Agency received $4,295,467 from agency and other fees, an increase of $765,737 from the prior year. The Agency’s staff services are provided by the Onondaga County Office of Economic Development. The Agency compensates the County for these services based on budgeted expenses. In 2025 and 2024, the County charged the Agency $846,518 and $811,754, respectively. Capital Assets and Investment in Real Property As of December 31, 2025, the Agency’s investment in capital assets was $5,280,648, net of depreciation. The Agency’s capital assets include White Pine Science and Technology Park ($2,140,557), White Pine Science and Technology Park - West ($2,535,251), other land (800 Hiawatha Blvd) and furniture and fixtures.
As of December 31, 2025, investment in real property of $36,347,000 consists of land and related costs related to
the White Pine Commerce Park and 3649 Erie Boulevard East.
Contacting the Agency’s Financial Management
This financial report is designed to provide Onondaga County citizens and taxpayers, and the clients of the Agency,
with a general overview of the Agency’s finances. If you have questions about this report or need additional financial
information, contact the Executive Director, Onondaga County Industrial Development Agency, 335 Montgomery
Street, 2nd Floor, Syracuse, New York 13202.
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Page 39 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
Statements of Net Position
December 31,
2025 2024
ASSETS
Current assets
Cash and cash equivalents - unrestricted $ 10,467,592 $ 10,430,970
Receivables - agency fees 127,111 113,612
Receivables - White Pine pass-through 310,931 306,566
Receivables - PILOT pass-through 30,216 24,221
Total current assets 10,935,850 10,875,369
Non-current assets
Capital assets, net 5,280,648 2,745,397
Investment in real property 36,347,000 30,756,703
Total non-current assets 41,627,648 33,502,100
Total assets $ 52,563,498 $ 44,377,469
LIABILITIES AND NET POSITION
Current liabilities
Accounts payable $ 36,158 $ 1,150
Due to Onondaga County 846,518 811,754
Payables - White Pine pass-through 621,906 613,131
Payables - PILOT pass-through 30,216 24,221
Escrows and deposits - 601,537
Total current liabilities 1,534,798 2,051,793
Non-current liabilities
Note payable to Onondaga County, including
accrued interest - White Pine Commerce Park 32,452,340 31,174,716
Note payable to Onondaga County - Supply
Chain Site Readiness 7,110,550 -
Total non-current liabilities 39,562,890 31,174,716
Total liabilities 41,097,688 33,226,509
Net investment in capital assets 5,280,648 2,745,397
Unrestricted net position 6,185,162 8,405,563
Total net position 11,465,810 11,150,960
$ 52,563,498 $ 44,377,469
The accompanying notes are an integral part of these financial statements.
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Page 40 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
Statements of Revenues, Expenses and Changes in Net Position
Year Ended December 31,
2025 2024
Operating revenue:
Agency and other fees $ 4,308,966 $ 3,349,894
Pass-through income - White Pine 3,742,460 4,009,120
Pass-through income - PILOT 10,774,381 10,235,848
Rent income 14,692 25,417
Subsidies, grants, and donations 24,898 120,278
Other income 56,758 123,815
Total operating revenues 18,922,155 17,864,372
Operating expenses:
General and administrative 207,268 222,885
Administrative expenses - Onondaga County 846,518 811,754
Development costs -
White Pine Commerce Park 788,252 345,952
White Pine Science and Technology Park 1,377,771 56,160
Pass-through expense - White Pine 3,742,460 4,009,119
Pass-through expense - PILOT 10,774,381 10,235,849
Depreciation expense - 976
Professional fees 17,757 26,034
Other expenses - 1,026
Seminars and meetings 11,952 37,398
Total operating expenses 17,766,359 15,747,153
Operating income 1,155,796 2,117,219
Non-operating income (expenses):
Interest income 436,678 359,145
Interest expense (1,277,624) (1,272,008)
Total non-operating income (expenses) (840,946) (912,863)
Change in net position 314,850 1,204,356
Net position - beginning of the year 11,150,960 9,946,604
Net position - end of year $ 11,465,810 $ 11,150,960
The accompanying notes are an integral part of these financial statements.
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Page 41 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
Statements of Cash Flows
Years Ended December 31,
2025 2024
Cash flows from operating activities:
Cash received for agency and other fees $ 4,295,467 $ 3,529,730
Cash received for pass-through - White Pine 3,738,095 5,729,995
Cash received for pass-through - PILOT 10,768,386 10,211,628
Cash received for grants 24,898 120,278
Cash received for rent and other fees 71,450 149,232
Cash received for escrows, net - 634,296
Cash paid for pass-through - White Pine (3,733,685) (5,423,430)
Cash paid for pass-through - PILOT (10,768,386) (10,211,628)
Cash paid for economic development (2,166,023) (402,112)
Cash paid to Onondaga County for administrative services (811,754) -
Cash payments for professional services (17,757) (26,034)
Cash payments for general and administrative expenses (172,260) (222,235)
Cash payments from escrows (601,537) (309,417)
Cash payments for other operating expenses - (1,026)
Cash paid for seminars and meetings (11,952) (37,398)
Net cash flows provided by operating activities 614,942 3,741,879
Cash flows from capital and related financing activities:
Proceeds from note payable to Onondaga County 7,110,550 -
Purchases of capital assets (2,535,251) -
Investments in real property (5,590,297) -
Net cash flows used in capital and related financing activities (1,014,998) -
Cash flows from investing activities:
Proceeds from interest on bank deposits 436,678 359,145
Net cash flows provided by investing activities 436,678 359,145
Change in cash and cash equivalents 36,622 4,101,024
Cash and cash equivalents - beginning of year 10,430,970 6,329,946
Cash and cash equivalents - end of year $ 10,467,592 $ 10,430,970
The accompanying notes are an integral part of these financial statements.
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ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
Statements of Cash Flows (continued)
Years Ended December 31,
2025 2024
Reconciliation of operating income to net cash flows from
Operating activities:
Operating income $ 1,155,796 $ 2,117,219
Adjustment to reconcile operating income to net cash
flow from operating activities:
Depreciation - 976
Changes in:
Receivables - agency fees (13,499) 179,836
Receivables - White Pine pass through (4,365) 1,720,876
Receivables - PILOT pass through (5,995) (24,221)
Accounts payable 35,008 650
Due to Onondaga County 34,764 811,754
Payables - White Pine pass-through 8,775 (1,414,311)
Payables - PILOT pass-through 5,995 24,221
Escrows and Deposits (601,537) 324,879
Net cash flows provided by operating activities $ 614,942 $ 3,741,879
The accompanying notes are an integral part of these financial statements.
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Page 43 of 145
ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
Notes to Financial Statements
1. Organization
The New York State Industrial Development Agency Act of 1969 provided for the use of industrial revenue
bond financing for the expansion and growth of industry in New York State. The Onondaga County Industrial
Development Agency (the Agency) was created in accordance with the provisions of this Act in 1970 by a
resolution passed by the County of Onondaga, New York (the County) Legislature.
The Agency is a special-purpose government, a financing authority, which is a separate legal entity,
governed by a board consisting of seven board members. The Agency was formed to promote and develop
the economic growth of the County and to assist in attracting industry to the County through bond and
sale/leaseback financing programs and other activities. The Agency created under this Act is a corporate
governmental agency constituting a public benefit corporation.
The County Legislature appoints the entire governing board and there is a potential for the County to
impose its will on the Agency, and as such, the Agency is considered a discretely presented component unit
of the County based on the criteria set forth by the Governmental Accounting Standards Board (GASB).
2. Summary of Significant Accounting Policies
Measurement Focus and Basis of Accounting
The Agency operates as an enterprise fund. Enterprise funds utilize an “economic resources” measurement
focus. The accounting objectives of this measurement focus are the determination of operating income,
changes in net position, financial position, and cash flows. All assets and liabilities (whether current or
noncurrent) and deferred inflows and outflows associated with their activities are reported. Fund equity is
classified as net position.
The Agency utilizes the accrual basis of accounting. Under the accrual basis of accounting, revenues are
recognized when earned and expenses are recorded when the liability is incurred or an economic asset is
used.
Estimates
The preparation of financial statements in conformity with accounting principles generally accepted in the
United States of America requires management to make estimates and assumptions that affect the
reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of
the financial statements and the reported amounts of revenues and expenses during the reporting period.
Actual results could differ from these estimates.
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ONONDAGA COUNTY INDUSTRIAL DEVELOPMENT AGENCY
(A Discretely Presented Component Unit of the County of Onondaga, New York)
Notes to Financial Statements
2. Summary of Significant Accounting Policies (continued)
Income Tax Status
The Agency believes it is exempt from taxation under Section 115 (Income of States, Municipalities, Etc.) of
the Internal Revenue Code (IRC). The IRC provides that gross income does not include income accruing to a
state of territory, or any political subdivision thereof, or the District of Columbia, which is derived from the
exercise of any essential governmental function or from any public utility. The Agency also believes that
none of its activities are subject to unrelated business income tax; therefore no provision for such income
tax has been made in the financial statements for the years ended December 31, 2025 and 2024.
Cash and Cash Equivalents
Cash and cash equivalents consist of cash held in checking and money market accounts.
Accounts Receivable
Accounts receivable are stated at their outstanding balances. The Agency considers all accounts receivable
to be fully collectible. If collection becomes doubtful, the Agency will either set up an allowance for doubtful
accounts or if deemed completely uncollectible, the accounts will be charged against income in the current
period. Unpaid balances remaining after the stated payment terms are considered past due. Recoveries of
previously charged off accounts are recorded when received. Management did not believe an allowance
for doubtful accounts was necessary at December 31, 2025 and 2024.
Capital Assets
Capital asset purchases are recorded at historical cost or fair market value at the date of acquisition. The
Agency’s policy is to capitalize all additions greater than $5,000. Depreciation expense is recorded on a
straight-line basis over the assets’ estimated useful life of 5 to 39 years.
Pollution Remediation Obligations
Pollution remediation obligation are obligations to address the current or potential detrimental effects of
existing pollution by participating in pollution remediation activities. Obligations to clean up spills of
hazardous wastes or hazardous substances and obligations to remove contamination such as asbestos are
pollution remediation obligations. Pollution remediation activities may include the following: (1) pre-
cleanup activities, such as site assessments and site investigations, (2) cleanup activities, (3) government
oversight and enforcement-related activities and (4) operation and maintenance of the remedy, including
post remediation monitoring. Pollution remediation outlays including outlays for property, plant and
equipment are expensed when a liability is incurred. The Agency will capitalize certain pollution
remediation outlays for properties for which it anticipates a future sale. The Agency will only capitalize
amounts that would result in the carrying amount of the property to not exceed its estimated fair value
upon completion of the remediation. The Agency currently has a parcel of land with known pollution and
is currently performing various remediation activities. The carrying amount of this parcel of land is
$604,840 as of December 31, 2025 and 2024.
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