Troy Industrial Development Authority - Regular Meeting

just to resist the corrosion. Uh-huh. You know, and that, that doesn't, I just, it looks to me like it just used stainless steel. Check straight. Which is not rust resistant. Lesson learned, I guess. Okay. Good?

All right. Let's get going. All right. First order of business, we need to approve this from April 17th, 2026. I don't remember who... for that meeting.

We got plenty. I move too.

Second. All in favor? Aye. All right.

Let's move on to May 15th meeting notice. I was not here then. Sue, you were absent, but everyone else was. I was, yes. All right. Do we have a motion?

Motion.

Second? I'll second. All right. All in favor? Aye. Perfect. All right. Randy, moving on to the executive director's report.

Okay, so...

Yes. Okay. So,

Something I really have to report on is the things that we're going to have on the agenda today. Spending time preparing for the agenda to talk about some pilot billing issues that we will discuss later in the executive session. We'll be talking about, I've been working closely with the consultant Storrs Associates on the closed Bella Vita project. And have been working with Anthony, who is here, helping him with the process for coming to us today to make his proposal for initial project resolution. There's some other objectives that I've been working on that are more administrative in nature, trying to figure out if there's a better way for us to manage our information on all of our pilot agreements so that we can be a little more efficient in how we manage that information and report on that. And I think that's the highlights for my report.

Perfect. We will move on to new business, which is Gulf Stream Business Developers, Financial Project Resolution. This is the project, I believe. OK. Do we have a presentation? Got it. Just ask that can just want to give an overview and then.

Yeah, so it's a unit, basically small cottages, 500 square foot piece, 55 and over development. So I was just trying to still avoid being a 55 and over for Brentwood County in general. The whole concept behind it was thinking that When those people downsize, they all don't want to go into the apartment building. So this is the opportunity to have your own house with no maintenance outside. But now we're on the inside as far as.

Any questions from.

Just a quick question, so I've been following this. Since it was introduced, and I'm just curious as to what we're, you know. the things that were holding you up, because I remember last year you were ready to go to construction. I know that's all in the news. And then we're now reviewing an application for assistance. So I'm just wondering what has changed.

Well, I just got site plan and everything approved in December. So I wasn't going to start over the winter time. That and then just working with the bank for financing and everything. Just got approved for my loan a couple weeks ago. It's just some contingencies based on it, one of which would be the pilot because the financing on it is so tough. It's just a very tight project because the building costs are so high right now. And I'm trying to keep the rents kind of as close down under the $2,000 a month range as possible.

What's the range on the rent?

It's going to be like $1,600 to $1,200. New shared community space, or is it there's going to be a civilian just with some picnic tables, probably some like charcoal grill and stuff like that. I don't know what the future might hold. We'll kind of see what people start moving in if we kind of get some demand for recreational areas. But as of now. What's the acreage again? I think it's a little over six.

So that's a pretty big lift, putting in utilities and everything right up front.

Yeah, the site costs are pretty high.

That's really the big investment.

There's over 2,000 foot of road in there.

So new road, all new water and sewer connections as well?

Yep. The roads will stay private, but the water and sewer will get turned over to the municipality.

They're all the units are the same size?

Not that it's relevant to this, but I'm just curious, is there a warranty on those?

Like if somebody goes in and starts to rent and they have a plumbing issue or something like that?

So you're going to perform the maintenance on the inside? Yeah, anything like that. Yeah. Okay. Anything that your standard department would have.

And how is the parking?

There's 131 spaces.

So is that a lot you mean? Is it set up as a parking lot?

No, so you'll have the roads and then you'll have parking spots off the roads Essentially, so everybody will have 1 dedicated spot in front of their unit. And then there'll be, I think it ends up being 45 extra slots. We originally. With 1 parking spot, and then come up with a planning board and for more, we went up to 200 and they wanted more green space. So we dropped it back down. So.

And does this project encompass the whole site, or is there a set aside for anything for the future? This is it full-blown?

Yes. And that's probably a lot of the upfront costs. Like you're saying, the site, it has to be done in one shot. I can't really phase it because of size and the makeup. Everything kind of depends on each other. So I kind of have to go in there and do it all at once. Understood.

DB6 is definitely the number in the build.

Yeah, no more, no less.

There are already pedestrian infrastructure from your site to like Hannaford for instance.

That's right. We're directly across the street from the school. I know we're going to add a crosswalk to go over to where the school is. I want to say there's a sidewalk over there from the school down. If not it's pretty close. I'm not sure exactly.

There's a sidewalk that runs from the school's furthest parking lot which is just a little bit north of Turnpike Elementary. It terminates at 126 because there's a big sheer shale wall there and there's no there's no sidewalk there that goes to Hannaford because it's just you can't cut into it. So it just terminates there. So you're literally walking in the rough. But there is a if you were to go behind the baseball field and walk through the Pleasantdale community there you would find the same problem, where River Road also terminates with no sidewalks once you exit. So there's no sidewalks except for where the public school is.

Is this your first residential project? No, .

Any more questions? Do we want, do we have a motion to approve the initial project resolution?

Motion.

Do we have a second?

I'll second.

All in favor?

Aye.

Any opposed? All right, motion carries. Thank you, appreciate it. You're welcome, thank you. All right. On to old business, I don't think we have any old business other than do you want to discuss the stores report?

I do, but I would, because we're going to be talking about some financial information on that project, I'd like to talk in executive session.

All right. So let's do financials and then we can go into executive session, if that's all right.

Okay, so we're doing for the IDEA financials, as of 5-31-26, our assets are

5 million roughly uh with 1.267 million in cash we have 163 620 in liabilities so our fund balance is 1.337 million in terms of outstanding pilots i know from the last meeting We had, you all had questions about where we're at on collections on past due pilots. There were several that I know that Matt's group and Danae were working on getting collections taken care of there as well as Justin, I know you were involved as well.

We sent them a letter under the lease back and started a little clock. It seems like they're putting efforts into getting caught up with both the city and the IDA.

So in terms of where we're at, Denae, can you help me out here a little bit in terms of what's still outstanding?

I don't think there's anyone that was. OK. OF THE ANNUAL FEES AND A LOT OF THE OTHER ONES WERE IN LATE FEES FROM THE FEBRUARY PIECE. THERE WERE A COUPLE THAT DECIDED TO NOT CHARGE IN THE LATE FEES BECAUSE THEY GOT BILLS SO LATE IN FEBRUARY. THERE WAS ONLY, LIKE, TWO OF THEM. AND THE REST OF THEM WERE ALL CAME IN. IT'S JUST THE LAST TWO OF THE SENOR PROJECTS THAT ARE EXPERIENCING SOME KIND OF A BUMPY

So you got the 50, the 86, and the 15, 4.

Okay.

You got the 50,000, the 86, 8, and the 15, 4 came in.

I don't know what those numbers are. 29.

And 444, you know.

So what was the other one you gave me? The 50,000, the 86, and the 15, 4. 29. That's an art house.

And for 44 months.

Yeah, the bottom 2, those are the casino projects that we're working with. And the city and.

The 2 larger ones were changing.

So they haven't come in yet.

Okay.

But did we get the 29, 25th. Yes.

Okay.

Question. So their payments are the same. Every time. Correct. The pilot payment.

They change year over year. It depends on the pilot schedule in this case. They generally increase over time.

So they don't know until a statement goes out?

Those particular pilots is right in there in the back.

So I have a question. So when the regular taxpayers you know it's the law like you know the bills are provided as a courtesy so there is no waiver or you know, of any late fees. It's, you know, this is the bill, you know, it's your responsibility to make the payment on time. So I'm just, you know, just wondering why that doesn't apply to the pilot.

It does.

If they're a day late, it's 5% penalty and we can't waive it.

Right, but you said you decided not to charge a penalty because the bills went out.

There was one that we talked about internally and we decided that there was some issues with them issuing the check from their new check service. There was a couple other factors. I don't know if Randy wants to talk about it or if you want to talk about it.

Here's what I would say to that. You hit on something that I think we need to zero in on ourselves, administratively, is we need to set up the system so that we are on a regular schedule of billing. So the invoices go out at a certain time. They'll be properly notified as to when it's due. And then penalties will start. It's not that we don't have a system and I'm not being critical of anyone, but sometimes other things get in the way. And sometimes all the bills don't go out at the same time. And it would be better if we could get to a system where it's more like, you know, when I get my bills, you know, they come the same time every year. It's very clear what I owe. It's very clear what happens if I don't pay on time.

There's a couple that are clunky as well, and this is the way they were negotiated way back when, before my time. The Hilton Garden Inn and the conservatory are both income-based as well. There's a base pilot payment plus a percentage of their profit or their revenue, so we don't know. You actually have to kind of wait 30 days and get information for them and then total it up. So those have been historically a little off cycle just because of that.

Right, right. But that would be the exception.

Yeah, it's kind of like we have to see their books and see what their revenue is. At some point, I think it's the restaurant income up at the Hilton Garden and the recovery room, there's like a percentage of their gross that gets added to the pilot. So it's

There's another one that says percentage of their rent. Yeah, the conservatory, I think it is. Yeah, the hardware store. But in any case, I hear you, and this is something I think is important that administratively we... Did you get an explanation on the 444 in Hudson Art House as to why they're not?

I think they're under a little stress. Maybe an executive session conversation. Oh, okay.

Okay. Anything on King's Commons?

We heard from Cosmo's crew on King's Commons today.

King's 2, I think, was... Are they on the list?

I thought they were looking for an extension. We have numbers from April, so there's a lot that could have happened.

Stuff, yeah, we're 60 days out of that.

We're looking at something.

Yeah.

A CURRENT.

YEAH, I BELIEVE WE GOT, I CAN GO BACK AND DOUBLE CHECK, BUT I FELT WE WERE PRETTY WELL CAUGHT UP EXCEPT FOR THE TWO BIG PROJECTS. IN COMMON, TOO, I THINK IT WAS JUST SALE TIME EXTENSION THAT WE WERE WORKING ON FOR THEM. I DIDN'T, I THINK WE WERE CAUGHT UP WITH THEM ALSO. I CAN DOUBLE CHECK.

SO, JUST SO I'M CLEAR, LIKE APRIL 30TH, THAT TIME STAMP, on this report, if you're 61 to 90 days past that, is that like as of today or is it 61 to 90 days past due as of April 30th?

Those are February payments.

Oh, yeah. Those are February.

OK.

Interesting.

OK. Oh, no. Right. The invoice probably went out in early January.

I believe they're But really added. There's a pilot with the idea that we administer and we have a mortgage on the building. Collects that they don't pay. The city also has host community agreements which balance the revenue. The city's really the municipality with the impact. So there's a separate payment made directly to the city each year. And they're behind on those as well. So the controller was keen to set out those. So we kind of did a unified notice on both contracts and sent those out a few weeks ago at this point. So under the lease back and the host community agreement, we've kind of started a ticker for default. And I think what they've done is a lot of their money, just without going into too much detail, but their mortgages are with the state largely. They're HFA backed. So their escrows are a little bureaucratic. So I think some of the contributing factors are the state and their banks have escrows that are a little bit fussy to, you'd think they'd be on an automatic remittance, and if you know the amount, it should be automatically spit out, but I think there's some bureaucracy that has been part of the drag.

Anything on the statement that could be in budget standards?

Yeah, so for the month of May, we have a deficit of 4,252. The most significant source of revenue is the interest earnings, and the largest expense is the professional services.

Do we have a motion to approve?

I'll make a motion.

Second.

Second.

All in favor? Aye. Aye. All right. All right. Do we want to go into the executive session?

Yes, we do.

Do you have a motion to go to the executive session?

So moved.

Second?

I'll second.

All right. All in favor? Aye. Do we have anyone else?

Do I ask them to log off and log on? I just viewed it.

Or you can kill the whole stream and wake it back up again.

I don't think I can do that. I'll mute it and pause it. Just let them know that we're going to be in executive session and there'll be no sound. I just said it.

Star letter just came off.

Good morning. This is Star Leader Washington from YWCA. When do you want us to sign back in?

If you want to come back in like 15 minutes, or I'm just going to have to pause it and turn the video off, but you're welcome to have it on in the background. And then when the screen comes back on, we'll be getting closer to the CRC meeting. Okay, perfect. Thank you.

Here it is.

Okay. Yes.

All right.

Do we have a motion to adjourn the IDEA? Motion. Second? I'll second. All right. All in favor? Aye. And we'll move on to the CRC. All right. First order of business, we need to approve this from April 17th, 2026.

I'll move the April 17th.

Second. All in favor? Aye. Perfect. Same for May 15th. Do we have a motion to approve the May 15th?

I'll make the motion. Second.

All in favor? Aye. Next item on the agenda is guidelines and grant funding. Randy, do you want to take this one?

Sure. At the last meeting, well, prior to the last meeting, we'd worked on guidelines. We've gotten a lot of good input from everyone. That was redrafted. We presented it again at the last meeting, but people felt like they wanted to have more time to look at it. So that time has lapsed. And it's so it's really just a question of whether or not we want to accept the guidelines as is or or if you still feel like you wanna. Take a harder look at them before we officially adopt them. Good. So just react to that, I guess. Before I add my editorial comments.

You can accept them and always change them. We can always revise. I think it's a great start.

Orients the compass, so to speak.

Nice job.

I so move. Do we have a second? Second. All in favor? Aye. On to budget discussion.

Okay, that's also me. So this agenda item I asked to be put on the agenda because We, it relates to the adopted budget that you've adopted for 2026. And particularly with respect to the line item for grants, the budget that's been adopted had $40,000 allocated for grants. So I prepared this memo to just to illustrate that we've already approved 29,000 and that leaves 11,000, but we have three pending applications on the agenda today for a little over 32,000. So, you know, normal process, I think, would be I mean, I don't know what our budget policy is. Quite frankly, I should know, but I don't as to whether or not if you if we go over on a budget item, do we need to formally? Adopt an amended budget before doing that, or or is it OK to just, you know, a budget is a budget. You know, it's it's it's the it's the blueprint, but it's not the final word. Yeah, so. But if we did want to go the route of amending the budget, I just put together a proposal that just said, you know, we could add to the grant budget and still be in good shape because we were fortunate to get the RPI bond issuance done and that added to our revenues of a little over $186,000. And there was in the budget an expectation of a debt payment from the LDC that may or may not be fully realized this year. But even if you take that out and we don't get that and we've got the $186,000 making a budget amendment to add to the grant budget wouldn't be a problem. That's the message.

The RPI money, how frequently?

Every three to five years based on market conditions when they look at their debt portfolio and it makes sense. Or they, you know, when MPAC happened, it was a new capital project, but I don't know if they're in a building mode at this point. And SAGE is actually getting themselves, they've got a big donation recently. So they may be in a position to do new capital projects soon. There might be an opportunity there, but we just, there's the project I think that you were talking with them about too, that could be an opportunity maybe. So, yeah.

Something next year or by year?

I didn't get into those conversations.

I had not heard back from them, so I'm a little curious as to how they want to do it. If it's going to be a partnership with a private sector, which would kind of take the CRC out, or if it's a pure SAGE thing, it would be a CRC thing. So I think we just need to kind of give more detail.

I've been needing to circle back to them. Let me know. It's the property. It's the old mosque. RPI, Russell Sage Bookstore and the Bruegers building. And they're looking at it as a sort of a workforce development entrepreneurship.

They're trying to monetize it in a way.

With the new developments, they really want to try to beef up the Troy campus. And so there's a lot of interest from the Albany students

They picked up the pharmacy college, so they're going the other way, not Maria, but St. Rose. St. Rose, right. They seem to be consolidating in a way that's healthy.

Yeah, yeah.

Which is good.

They are. And as you mentioned, they just got a significant donation.

Yeah. And it helped. They bought the cookie factory property.

Yes.

Yeah, so that's a signal. They have a facility down there, and I think that's more of like a parking expansion thing because that building's got to come down. which may fit into some of the Troy materials group stuff that's all, that's like a big chess board down there.

Yep, yep, yep, it is. I, unless there's any opposition, I would move that we accept Randy's suggestion here and amend the budget.

Second. Second. All in favor?

Aye.

No votes, thank you.

We've gotten more requests this year than normal.

How do you balance it if you amend the budget? Like, do you have to bring it back to zero revenue? You have to have, no, you just go change the, just change the numbers.

Just change the numbers, yeah. Yeah, we'll just, we'll change numbers and post the new budget.

It's not like your household budget. That's the way government works.

You can't just change one without changing another. This is new revenue. Revenue will change. So you're just going to put an extra amount into the revenue side.

And an extra amount into the grant side.

Okay.

I understand what you're saying. And then a net will be different. I mean, it's a new budget. I'm going to have to screw up.

All right. Let's get moving to new business. I'm also running a little short on time. So first one, YWCA. I think we have some posts on Zoom from there. This is a request for a grant.

I'm in favor of all of them. For $10,000. Okay.

to repair their heating and HVAC system. I don't know if you came off mute, if you'd like to speak about this project.

Yes. Over the winter, YWCA was awarded money for new boilers. When they did it, We didn't have, when it was replaced and installed, we discovered that critical piping services was on the basement first and second floors was not connected to the new system. And it cost us additional $10,000 that was unbudgeted. which caused, you know, a rippling effect, especially with everything that's going on in the housing sphere. And we found out about this amazing opportunity and we put in for it. And we are just hoping that the city of Troy can assist YW with getting back on budget in fulfilling this request um it it really did stop um programming in the building we have na na meetings our community meal wellness programs um tenant meetings we are in partnership with in our own voices all of that for january and february had to be put off until we can get someone in In the building to fix the heating. I had to have staff work from home. We are an essential program. So imagine trying to assist women with their in the children with their needs and not being able to having to do it over zoom and or THE PHONE CALL, IT'S NOT SATISFACTORY FOR US. SO WE'RE JUST HOPING, YOU KNOW, TO PUT THIS BEHIND US AND THE CITY OF TROY HELP US GET BACK TO OFFSET THAT EMERGENCY INFRASTRUCTURE COST.

ANY QUESTIONS?

I HAVE A QUESTION. I remember being in that building like years ago, but is it still, if the public is not allowed above the first floor?

No, um, the public, um, we are a public space for the, up until the second floor, third, third, fourth, and fifth floor is housing units. And those are off limits to, um, general public without being a visitor to a tenant.

Gotcha. Absolutely.

So have you paid the invoice?

We did. We had to pay the invoice. So we're reimbursing you. Please. Yes, please.

Any additional questions?

Justin, I have a question. Do I have to abstain from this? I have an ongoing relationship with Eckert Mechanical through my current role. The invoice is already paid. So we're past that. Yes.

conflict right the idea is a little bit different with the inducement for tax benefits we have the ability to give grants through the CRC and the timing of that is if there's no fatal flaw there in terms of okay bracing their project to give him or reimbursement so it's fine okay so we'll get a vote on this yeah okay make the motion we have second second all in favor aye aye no opposed

Thank you. Starletta, Denae will be in touch with you about funds.

Okay. Thank you so much for taking this time and opportunity to read over our grant application. We really appreciate this, and thank you so much for this partnership.

Yeah, of course. Thank you very much. Thank you.

Yes, yes. See you all soon. Thank you.

Yep.

Okay. Tangible, yeah.

He did it pretty cheap, too.

Looking at the scope.

Alright, the next one is Big Thought.

I think it was first contract and missed it.

Oh, okay.

So, this is... What is it?

$15,000. Alright.

So, this is a request for $15,000. This is the So, Amy, do you want to speak on this questions already?

Well, thank you everyone for considering the grant proposal again, and for your ongoing support of circus in the park has been. You know, a critical partner in making sure that we can continue this, this tradition. Some of you might remember Circus in the Park began as a community center cultural event and has kind of grown into one of our organization's signature programs. Bringing together families, artists, vendors, and we continue to try to grow it and include more and more in a regional scope. The funding that we request supports like production infrastructure, production manager and assistant, and paid roles for coordinating and our permitting, insurance, all of that. And so our request is based on prior years commitment from the CRC.

All right, thank you. Do we have any questions for Amy from the board?

I just, I don't know if there's an answer to my question, but this is the fourth year in a row that you've come for a sizable amount of money. And then beginning to feel like we're subsidizing your operating. We gave you $11,023. We gave you $15,024. We gave you $15,000 last year. So when do you reach the point where we don't need to be doing this?

Yeah, that's a good question. I mean, we're actively trying to, you know, build a support system and public support for these programs and attract, you know, funding from other sources. But it's a slow process as we do that.

I think this is a big amount to be giving for the fourth year in a row. Without any major presentation of a change that's underway.

They're looking at their operating budget.

You know, we're expanding our programming year after year. This year we also, this spring we did our first circus lab, which was a multi-organizational effort across Albany and Rensselaer County. And so, as I said, yeah, the CRC has been critical in helping us get to these next stages.

But that's the part I don't understand. Your organization does a lot, and it does it in a broad way. But the part of Troy is that you present something within a park that's within the city of Troy. I'm not trying to be argumentative. I'm sorry, Amy. I don't mean to come apart that way.

No, it's OK. I understand.

What we're trying to accomplish here and the value that we are responsible for.

Guidelines call for a sort of max of 10,000. I would think that if you go above that, you would need some compelling reason. You'd want some compelling reason to do so.

but we just passed these new guidelines.

But it's only for only in June.

That's right. Six months to go.

But I think the question is, what do the guidelines say about this amount? Too high, right? Yeah.

So that's my question, is do we adjust this down to 10,000, which is our max?

I mean, $10,000 for a mechanical piece that's critical to keeping the operations going to the Y, there's a lot of, I can see that within the city.

There's hundreds of women.

Yeah, it's a risk.

I feel for all of the things with the CRC, we try to give them an opportunity to make a change, like when we gave money to Pat to get new computers so they can make a change in the way they were functioning, it should really be more of a, it has seemed to me that other than the circus, others have come to us once, maybe twice. With its purpose, like Tech Valley Center for Gravity had that one project they presented last time, what they were doing, who was going to be involved, and how it was going to make the impact.

It's much more concrete. Farmer's market, too. Yeah, they came a couple times. The impact that they have on the city is...

I think in our guidelines, we made it clear that it should be project-based and not just for operating expenses, right? I think that phrase made it in there, right?

Yeah, it did.

What do we want to do?

Well, someone would have to make a motion. What do we want to do? If nobody makes a motion, I just can't move forward.

Are you comfortable with any amount?

Of this particular project?

Yeah.

I feel like... My concern is if we go less, then they're so dependent on the money, then does the money just go into the ether because they're not going to accomplish what they... I'm not saying that's the reason to give them money, but it just seems like we're just plugging in their operating. And I think that's a slippery slope, but...

I agree with you.

I mean, we they can always reapply in the future. I don't know what they're. I mean, I don't know where we fit into their fiscal year.

We want to table this. Sounds like we're not comfortable.

Can she give us their financials for the last three years?

We don't ask for that as part of the application.

Like to see how they're spending their money.

There is a budget in the budget is I mean, this was to support a specific project, which is circus in the park. So it was for 1. Project that we do annually in prospect park. But I wasn't aware of the guidelines or these criterias of.

one-time project support so um i'm not saying i'm not saying that we only do things one time there will be times and there have been times yeah it's just that this isn't i it sounded when it was when i first learned of your project i thought you were like a fledgling organization and we were going to help kind of get you going and then the next year the same kind of thing but we're not here so it's not I'm not sure, this is my personal opinion, I'm not sure where we fit in the line of this. Are we just acting as a sponsor to your event in the park?

Well, that's one way to look at it.

But I also don't see the impact for this. This is Detroit.

This looks like we're in the capital.

This is a free open to the public event, right? Every year I'm a member of the neighborhood there. I personally look forward to circus in the park to create and bring people together in the park, which I think is generally underutilized. For what it's worth, as somebody who lives in the neighborhood, I see it as like a place making like people.

I've come to expect circus in the park What is the date of the circus? Amy? Yes?

What is the date of the circuit?

We are going to be running it August 22nd, 23rd, and 24th, with the 23rd being the free festival that's open to the public.

July?

August. In August.

Has anybody attended this thing?

I've not been in the tent. I went to one of the open public things. You know, one of the ones where anyone could go and there were activities going on, but.

I've gone every year. Okay, great. They had like a, they did acrobatics with a trampoline in front of it and you kind of sat. There's like a hill on Prospect. So you sort of sat on the hill like an amphitheater seating or something.

And I think, you know, similar to the Prospect Park or Powers Park Concert Square is the, you know, the whole surrounding community kind of everything goes up the hill at Prospect Park, as Michael said, the neighbors. THERE'S USUALLY A REALLY LARGE CROWD OF PEOPLE THERE, AND I THINK YOU'LL LOOK FORWARD TO IT. IT'S A MATTER OF IT NOW JUST FITTING TO OUR GUIDELINES, I GUESS, AND, YOU KNOW, WHATEVER YOU WANT.

OKAY, SO I'M IN SUPPORT OF A SPONSORSHIP FOR THIS WITHIN THE CURRENT GUIDELINES.

I WOULD AGREE. WANT TO THROW A NUMBER OUT THERE? DOES SOMEBODY WANT TO THROW A NUMBER OUT THERE? IF NOT, I CAN'T. WHAT DO WE FEEL COMFORTABLE WITH?

IF WE GET BELOW THE THRESHOLD.

DO YOU WANT TO SAY 7,500?

I JUST DON'T WANT TO BE CONTINUING. I JUST DON'T THINK THAT WE SHOULD GET INTO THE HABIT OF filling in the gap in somebody's operating of something. There are other sponsors out there. There are sponsors out there, private companies and things that are more suitable for this type of an event. And we've given it a good shot. If you want to do, I mean, anybody else have a?

Someone make a motion? Yeah, someone who want to make a motion for 7,500? Can I make a motion?

You can. Yes. Anyone second it? I'll second.

All right. All in favor? Aye. Aye. Any opposed?

Aye.

I'm sorry. Sorry, were you opposed?

Yeah. I can't hear because of the mic. Alex? I made a motion. Oh, okay. Thank you.

Very good.

It's a working cap.

Alright, last item of new business, Mount Ida Preservation Association. We have these little one pagers.

Hi, everybody. My name, well, thank you for today. My name is Michael Easterbrook. I'm a homeowner and resident of Detroit Decide and Mount Ida neighborhoods. I'm also the executive director for Mount Ida Preservation Association. For those who might not be familiar with MIPA, it's a nonprofit 501c3 organization that owns and operates Mount Ida Preservation Hall at 548 Congress Street, the historic church overlooking the Post and Kale Gorge on Congress, the one with the tall steeple and the big red doors. Our mission is to preserve this historic landmark while also activating it as a community asset that brings people together through arts, culture, entrepreneurship, and neighborhood and civic engagement. Over the past year, we've really begun to activate the space in a brand new way and see what the building is capable of. We started a brand new seasonal arts program. We completed two seasons in the fall and the spring. And between the two, we had more than 100 days of art and cultural programming. welcoming more than 3,000 attendees, artists, and volunteers to market, concerts, theater, and other activities, while we've also continued to support the Mount Ida Food Pantry's weekly operation on our basement community space. We also operate a shared-use commercial kitchen that supports local food entrepreneurs, and we've partnered with Community Compass to host on our website a centralized community resource guide. It's become a place for artists, other nonprofits, new neighborhood groups and small businesses to share space under the same roof and accomplish their objectives i'm asking the choice here to support for a building and program coordinator position this position would be responsible for today's day-to-day operation of the facility preparing spaces for events supporting sound and lighting coordinating logistics maintaining the building smoking renters and visitors and helping ensure that every program we run goes smoothly At the same time, it's designed as a workforce development position that provides hands-on training in the aforementioned items, so venue operation, technical theater, facilities management, and nonprofit administration. This is an important role in the evolution of Mount Ida's operation. We're currently 99% volunteer run. I'm the only, I get a small stipend each month to be executive director. And so this would be the first other paid positions for Mount Ida. And it's kind of coming out of the necessity that with all of this programming, it's becoming too burdensome to ask any set of volunteers to maintain the building on a regular basis. So I think this aligns closely with what I understood Detroit CRC's mission to be. It's creating an employment opportunity, practical job skills, sports community and entrepreneurship. It's in our historic building and draws people into the neighborhood. Kind of trying to cut this a little shorter. I think Mount Ida plays a certain civic role that's important to the city. We host community brunches for the neighborhood every third Sunday. We've had meet the candidate brunches. So leading up to elections, we invite our local district candidates and usually the council president and mayor positions to come and talk with folks in the community. I'll sum up. I describe Mount Ida as being at the intersection of history, community, and art. But at the end of the day, it's really about improving the quality of life for residents and visitors to Mount Ida of choice. Thanks for considering our answer. Thank you.

Any questions from the audience?

So how much operating revenue have you collected in the last couple of years?

Our operating budget is about $50,000 for a total fiscal year. Outside of donations.

But you charge for things.

Yes, we do have tickets. But had, yes, probably around 7500 is what we would be able to bring in through ticket sales. We do a lot of sliding scale type ticket, ticketing, if that makes sense. So it's like a pay what you can.

Do people rent out the venue?

They do, yes. So our kitchen, like one of our Key pieces of revenue last year, and we're kind of going through a little bit of construction. This is a kitchen rental, so it's a commercial kitchen space. We rent that out. We had a single tenant who was kind of the main tenant, and he left at the beginning of the year, and we're now pursuing our own 20C license. So instead of that business owning it, we own it and can offer the space at a lower barrier to entry for new entrepreneurs. But it is a component of our business. Revenue right the past had that tenant in there that was $500 a month towards our revenues and 6000 a year and we're hoping to up that sharing that space up to 2000. Say 2001. Yeah, from the rental kitchen.

How many events do you have a year?

Between 2025, we had over 90 events. If you look from our fall season and to the end of our spring season, which ended June 9th, we had over 100 events. We try to, with the exception of January and February, from October through May, we try to have events every weekend, sometimes more events in the weekend. And that's in addition to... Certain monthly events like we have the Luna series is actually that all that center picture on the brochure is at the top the Luna series show every month featuring artists and Then we have a community brunch every third Sunday and an open mic every those run year-round So I like this so I came out But but also

In our newly adopted guidelines, we like to help create a job, not fund it perpetually. So this is creating a new, starting a new job and giving you the opportunity, your organization, that opportunity to see if it works.

I'm very confident, like we're growing. Our revenue has increased. The shared kitchen platform has changed. It's going from that single tenant to the multi-tenant position. I think we're doing a lot of things to better position ourselves to increase our funding pool. We're also increasing our name recognition. Prior to 2024, we were not in Hart's venue. So we're getting our name out there. We can see that we're getting slowly bigger market penetration, and I'm confident our ticket sales will increase. Our kitchen rental funds, I think we are pursuing grants from other NISCA. We're looking to use tax credits to help us with the historic restoration. There's other things that are going to help us, but we're just really at that beginning stage where I think this amount is really going to help us get people in the door to maintain the facility program running so that it will eventually run itself.

How do you market your events?

We have a newsletter that's expanding that we send out via email, Facebook, Instagram are kind of the main ways to get it in time. We try to get things to the mentor land.

Any additional questions? I just have one last question.

Have you received any state level funding?

Not yet. Are you pursuing it? We are. Okay. Yeah, I think on our budget line you'll see, like, we're hoping to have another portion of funding from NISQA to support this work in 2027. I mean, you apply now, but it .

Does anybody have a motion?

I'll make a motion.

Second. All in favor? Aye.

I'm unfortunately going to be a no on this one. It's not because I don't believe in what you're doing. I just think you're doing really well with it. And I think there's an opportunity for you to receive this money through your own controls rather than through the city.

Okay. Okay.

And I think you do a great job. Yeah, thank you. I just think you have a better shot at more significant revenues instead of just soliciting for this. Okay. Okay.

Yeah, we'll keep that in mind going ahead. Is that? Yes. Wonderful. Thank you all. I really appreciate it. Appreciate your time. And honestly, all the great work.

Appreciate what you did. Old business, I don't believe we had any.

No, we took care of our old business.

Finances.

Okay. So just from our statement of financial position, as of May 31st, our total assets are $441,930 with $226,930 in cash, zero liabilities, so a fund balance of $441,930. Okay. There are no significant changes to the statement of financial position from our last report. In terms of statement of activity, we have a surplus of $166,843. The most significant source of the administrative fee received from RPI in interest earnings and the largest expense is the grant to City of Troy. Neighborhood Improvement, the Albany Center Gallery, Troy Dance Studio, Full Out Fest, and the Hudson Mohawk Industrial Gateway grants to do the mural project at the Bird Museum, or Niren Works Museum.

Thank you, Randy. Any questions? All right, do we have a motion? Second?

Second.

All in favor?

Aye.

Opposed? All right. That is the end of our business. Do we have any motion to adjourn? Second?

Second.

All in favor? Aye.