Troy Local Development Corporation - Regular Meeting

We'll be talking about it.

I learned new things. I need to delete old things now. Isn't that true? I had that discussion yesterday. I can't tie my shoes, but I remember the person. No, not as much as I would want to. Good morning, everybody.

It is 9-10 according to my eyes. Maybe it's 11, but on Friday the 17th of July and I'm calling the Troy LDC REGULAR MEETING TO ORDER. I'D LIKE TO WELCOME JOE MAZZARELLA AS YOUR FIRST ATTENDEE TO OUR ESTABLISHMENT HERE. THANK YOU. SO, FIRST ORDER A BIT, AND JOE IS, YEAH, I APPRECIATE YOU AND WHAT YOU'VE DONE FOR US UP IN OUR BUSINESS. I WILL. FIRST ORDER OF BUSINESS IS MINUTES OF MAY 1, 2026. ANY DISCUSSION POINTS?

Can we, just before we get started, can you tell me why we're not approving the minutes from the Audit Committee meeting? These draft minutes.

You told me to approve those at our next Audit Finance Committee meeting because we didn't, we don't meet as the Audit Finance Committee.

That committee would approve its own minutes, right?

Right. RIGHT, EVEN THOUGH IT'S THE COMMITTEE OF THE WHOLE.

I KNOW WHAT YOU'RE SAYING. I DON'T KNOW WHY THE FIRST MEETING DIDN'T, THOSE MINUTES DIDN'T GET APPROVED. I THINK THEY JUST GOT MISTAKENLY LEFT OFF THE AGENDA. WELL, WE'D HAVE TO HAVE AN AUDIT PLANNING.

WOULDN'T THIS, THE MEETING MINUTES THAT WERE LOOKING TO IMPROVE, I MEAN, THIS WAS THE MEETING THAT HAPPENED AFTER THE AUDIT COMMITTEE, RIGHT? YEAH.

The audit committee would approve its own minutes. Right.

But what I'm trying to say is most of the information that was discussed in the audit committee really funneled into this meeting.

But these are the minutes in draft. Are we not going to approve those, have a meeting to approve those? They're not on the website either.

The minutes of what? The audit committee.

Yeah.

The audit committee. We haven't noticed a meeting for the audit committee.

Can we do that?

Have we noticed a meeting for the Audit Committee? I mean, if you want, if it's, I don't know.

Is this kosher with the open meetings law? Not to... Kosher.

Well, when's the next meeting of the Audit and Finance Committee meeting?

That's what I'm asking. When can we have that?

When you conduct one and notice one, those minutes will be on that agenda.

Can we schedule that?

If you, so... Can the City Council have a meeting on one-minute notice?

No, but I'm just saying...

Probably during budget. I'm sorry.

Sorry, please relax.

When we have an Audit and Finance Committee meeting when we do our budget. Probably in like a month or so. We'll have one coming up.

What I was going to suggest, if we want to, Danae, if you want to notice and make our next regular scheduled meeting, if we want to butt up a audit. We're going to do that anyways. Before the meeting or briefly after, whatever makes sense. I don't know if we can bump our, you know, do the audit budget committee at 9 and bump our regular to 9-15. Maybe do a notice that way.

Yeah, whatever you guys want. So that would be our August meeting.

We'll have the audit committee at 9 and the The regular LDC at 915-ish.

I think also, I mean, I'd be very alarmed if our accountant wasn't here. They are traveling. But we want to confirm definitely that they're going to be here as well.

Absolutely. And the ESP couldn't send...

I think that's an appropriate time to check in with them as well, being that it's August.

I'd love to check in with them sooner. Can I get their phone numbers?

I think if you want to email Matt, you know, and if you want to just include myself in handy. Can I get their email? Sure. I'd be happy to.

They're copied on every meeting notice. Every time you get an agenda, Matt's email is in there.

They are like Matt's in Alaska loops, and that's where I actually spoke briefly with Matt just because I wanted to make sure if there was anything that He obviously didn't have our financials in front of him at the moment in Alaska, but I also forgot there's an eight-hour time change over there.

It's not eight hours.

Is it not eight?

No. I used to live there.

Oh, okay. Six.

No, it's not six. Only in the Aleutian. Is he in the Aleutian? I'm not sure.

I didn't really get that.

No, it's four.

So I asked him... if there was anything that he popped in his mind that was worth mentioning here, and he didn't say that part.

Why didn't they submit the April financials?

No one. And I think that this is discussions that we were going to continue to have about the accounting process. I don't think today, no. All right. Is there something particular that you're looking for?

No, I just wanted, I don't understand why we didn't get the April. We got May and June and not April. And to me that's a red flag.

Did we just have our special meeting? Because they weren't here for that. We just had the special meeting. They weren't here for that. They didn't prepare the financials for that. I think maybe because we didn't have a meeting.

So they don't have them at all? Yeah, the April.

I thought I supposed to ask.

Did you get my email?

at the training yesterday? I did. Did you get my email? No. Oh, okay. Did you provide yesterday?

We have a motion on the minutes. I printed it right here. Do you mind?

Yeah. Which one did you want? I don't know. We have a motion on the minutes. April. April.

I only got, I got marked.

I know we went for a month. Was that April? May or June.

Okay, I got May.

No, we're doing May 1st.

I'll have to go and find them on my computer then. May 1st? Yeah.

I think that was the motion.

Yeah. Yeah, the motion on the table is the May 1st. We can discuss about the other, I don't have this in my head of what we have. I know we missed a couple of meetings. THIS YEAR, NOT MISSED, BUT WE DIDN'T HAVE MEETINGS. SO WE WERE GOING EVERY OTHER WEEK, AND THEN WE MISSED, WHAT, I THINK, FOUR WEEKS AROUND. NOT MISSED, BUT QUICKLY. WE MISSED MAY AND JUNE. SO WE HAVE A MOTION ON THE TABLE FOR MAY. WELL, WE HAVE A MAY 1.

THAT WAS A SPECIAL MEETING. RIGHT.

SO THERE'S A MOTION ON THE TABLE TO DISCUSS THOSE, APPROVE THOSE, COMMENT ON THOSE. SECOND ON MOTION. WHO'S FIRST?

I have a question about the annual resolution where Mr. Miller noted that the CFO for hire handles much of the fiscal reporting as CFO and we will add language to provide additional insight. Do you mean oversight and what language and where was that provided? I'm sorry? Under 2.

I don't know about what I'm not sure if that was a paraphrase. I'm not sure.

The oversight that we talked about was increasing the regularity of having audit and budget committee meetings reviewing those financials more in depth than just our regular meeting.

I know.

Insight should be oversight. Instead of that being something that occurs just right around when the audit is occurring, that we do something kind of like we're talking about right now in August, that we do a deeper dive into the financials.

Right. And as treasurer, I would like to, you know, check in, if not monthly, at least quarterly. But so where is this language coming from? you will add language to provide additional oversight.

Well, I don't think, and I believe this came up in the discussion about it, that it's the board's duty to perform oversight.

Absolutely.

So I don't know what we're... I don't know what you're looking for necessarily to put in writing. We just talked about if you as treasurer want to check in.

I'm not looking for anything. That's what Mr. Miller.

Could you let me finish? Well, address the question. I'm addressing it, okay? Stop interrupting. So what I'm saying is that, well, then I just won't answer your question, because, you know, frankly, I will put a motion on the table to approve the minutes. Second. Second. All in favor?

Aye. All opposed?

Aye. No.

So the way I'm reading the annual resolution is it states... Is the no on the minutes?

Yeah. Okay. Yeah, I didn't get my question answered.

So the way I'm reading it in two, annual two, that we were stating that we're going to have quarterly check-ins. Mr. Dunn advised that quarterly check-ins should be done to provide a more in-depth overview of the finances. So that's what we're... And that next meeting will occur in August.

Exactly.

But we were going to add language to what? To say that? That we're going to have quarterly... Add language to the minutes?

Is that what... To provide a more in-depth review of the finances.

Mr. Miller made the... made the statement. Can you clarify that for us?

This is fun, isn't it? No, it's not. 18 years is the last two meetings of the most difficult. I don't paraphrase the minutes, so the word insight should be oversight.

I understand that.

And if you want to collectively as a board determine and give guidance to your CFO about what they're going to report to you, please do so.

Right.

I didn't write the language here. I just said that the board is going to expect more reporting.

So just in summary, what we decided and what we discussed last time was that CFO was a little bit lax on what we felt their performance. I think everybody had an agreement on that. We discussed that. I know it was an executive session. I don't know. We should be discussing an open board right now. So we all understood that there was an issue. We wanted things tightened up. we all came to an agreement that things were going to be tightened up. As such, as a summary, we were going to be reporting in more depth in quarterly. That's where you talked about going and taking the treasury position and basically being more active and looking at the details of whatever you were going to be doing as the treasurer's position. So that is a summary.

That's what I understood today. And I mean, just to be clear here, since we're having this random open discussion, I, you know, we're, it's, We're calling for this middle oversight now that the LDC has taken on things like the new city hall. We're going to be entertaining this LDA. We have more activity. It's appropriate as well. Although we had discussed some minor issues with the audit, I just do want to be clear. It's not like there's this glaring financial issue that the LDC has. I just want to make sure that we don't certain board members don't stir up that type of misinformation because that would be incorrect. I think it's our duty to make sure that we're providing proper oversight. I think that this board does that. And I think, again, please don't interrupt me for the third time. And I think that, look at John all you want. So I think that I just want to be clear about that. I think it's appropriate since we do have more money running through it as well. And just like you decided to step into that treasurer's position too, That's why when Matt's back, you can email, ask questions. I think it would just be appropriate to include the chair and myself on that as well. But I think that, you know, again, we're more than, I think everybody here wants to make sure that the financials are as tightened up as much. And I know that we've also discussed some other issues in and out of executive session. I think those things we'll discuss as we continue moving down the road here.

So from the chair's position, you know, 100%, we want to make sure that we're clean, okay? 100%. You know, I run multiple businesses.

That's a good idea.

Having the financials clean is good. I feel in my position right now that we are in a good position. There's some things as everything is opportunities for improvement, and I think those that we've identified in the executive session, again, I'm going to be careful what we talk about in open. We identified those in the executive session, and we'll address that with the CFO.

And that's why I stepped in, to be treasurer, because we had a problem. We don't want that to happen again. And the accounting needs oversight.

I don't know if we had a problem. We didn't have a problem. In all fairness, we were doing our annual resolution, and we needed one more officer, and you were the only person that could do it. But thank you for being willing to step up.

I also have a question about the bylaw amendments to the bylaws.

We might have to change the proper rules of order book here. OK, yes.

Aren't we discussing the minutes?

No, that's done. We've passed the minutes. You voted no against them, so that means we should be moving on. So we're speculating on old business. Do you want to add that to new business as the bylaws? Do you want to add that in?

If you're not, I'm fine with the bylaws.

But they haven't been amended.

We adopted on May 1. Yeah, we adopted. You're talking about the new amendment that will come at new business. OK.

So let's go on to old business. Proctor's redevelopment, project update.

Yeah, so we're on schedule. We haven't had any budget issues so far. Right now, just to give the state of the building, I know where paint is starting to go up in the old arcade hallway. They have done Most of the restoration in the old lobby. What's next is really working on the terrazzo flooring. The terrazzo floor has been, you know, they're going to have to polish that too. There's some cracks in it that have to be filled, which if you've ever been in a historic building, probably used to seeing those fills too. We do have, like I've said, we have biweekly meetings. Joe actually... ATTENDS THOSE MEETINGS AS WELL. AND WE HAVE BEEN THERE FOR ABOUT THREE HOURS ON WEDNESDAY. GOING OVER A LOT, ALL THE, PRETTY MUCH ALL THE, A LOT OF THE FINISHES HAVE BEEN PICKED OUT, PICKED AT THIS POINT. CARPET, FLOORING HAS BEEN ORDERED, BATHROOM TILE. WE ALSO HAVE IN THE, THE ASSEMBLY HALL HAS BEEN COMPLETELY FRAMED OUT. IT NOW HAS DRYWALL ON IT AS WELL. The windows to look out to the historic part and one of the other hallways has really come together well so that we still can maintain all those views of the historic elements, the balcony, ceiling, things like that. All the electrical has been run. So we're really at a, we're maybe getting into August where we're going to actually see flooring get laid down. They're starting to do more work on the upper floors as well. So the project is really moving along. We're definitely, like I said, on target, on schedule. Although it's just two weeks every time we go in there, it looks so different how it's coming along. The meetings are good because we're, as you know, on most projects, things come up. You know what I mean? That idea of, oh, we need to put a TV screen here. Oh, we need to do this. So those have been very helpful so we can move along. There's a good group of us that go from Joe Mazzarello our IT director on the city side, city engineer, co-director, fire chief. One thing that I do need to report to the board, and Joe might remember this exact date, but a truck crashed through one of the bay windows. So they were, yeah, the truck was, it was a, A drunk driver that was, it happened at night. Looks like there was some type of scuffle at a bar. One car chased another car. He slammed right into one of the bay windows. If you drive by, you'll see it covered by plywood. The police did do a good job of apprehending and arresting the person. We have the vehicle's insurance. I've decided that I'm initiating a claim through their auto insurance carrier, seeing that we have, the person was arrested. They have insurance. We have video. It would be very tough for their insurance company to dispute that they're at fault causing it, and I'd rather do that than trigger our property insurance. One, we have a deductible there. Two, I really don't feel like starting off our policy with a loss. One of the larger insurance policies, though, the C probably has. Just to make the board aware, if there is a situation where We get to a certain point of time and the insurance company is not, the auto insurance company is fighting the claim. We may have to then enter in our insurance company so that they pay it out so we can get it repaired and then they can subrogate it on the back end. But I really don't, this isn't like, you know, me and Justner at an intersection hit each other and you did it, I did it. It's just a pretty cut and clear process. CUT AND CLEAR FAULT TO THEM, BUT, YOU KNOW, I'M SIFTING THROUGH THAT PROCESS. I SHOULD HOPEFULLY HAVE AN UPDATE ON THAT BY THE NEXT MEETING.

WHAT'S THE COST? DO YOU HAVE AN ESTIMATE?

EDL IS WORKING UP ON AN ESTIMATE ON IT. AS YOU CAN IMAGINE, THOSE, IF YOU'RE FAMILIAR WITH THOSE DAY WINDOWS KIND OF WALKING AROUND, I MEAN, IT'S MORE THAN JUST THE GLASS, OF COURSE, BECAUSE THERE'S A STRUCTURAL COMPONENT THERE. SO THAT'S WHY WE, THEY'RE GOING TO BE, OUR NEXT MEETING SHOULD HAVE A COST ESTIMATE AND ADVISE this is how much time it will take us to get that back. So if we get to a certain point of time, and again, I don't feel like we're moving enough, I'll trigger our property insurance to make sure that we can get that paid.

So dovetail into that. We're basically almost in August. The deliverable date is, where are we now, end of November?

It should be substantially complete October... I don't have the date exact off the top of my head, but maybe October 15th.

So they'll be doing punch list items probably into November. Okay. So they'll get three months to basically sort this out, which shouldn't be that bad.

No, because as you're, anybody, if you're familiar with the construction projects, once you get to, I mean, now that a lot of the downstairs drywall has been put up and things like that, once they get, once the flooring comes in and they start going with that as well, the HVAC's been dropped for the assembly hall and things, and... I have to say it's been great working with BBL. They've been good to us, even things that they think of, and we've had a lot of communication. Columbia is still a bit involved. Brandon still talks all the time. Any change orders on the table? No change orders at all. We did have a built-in – we made sure to put a LDC contingency in there. Obviously, they have their own contingency for stuff that has arose that they have to take care of, which has happened. They've, you know, I think they did more of the roofing than we originally thought because when they were off there. So, if they check something out because, again, as much as we bought it as is, I mean, that GMP does hold them so that they, you know, have to give us good product. They've done some stuff with the elevators. There's even other stuff that we have to do with that. But our contingency was for... stuff, extra things that we might not have accounted for. Really, we started to dip into that a little bit for one of the unforeseen increases and stuff was not necessarily some IT stuff.

I got to tell you, I think on a project this size, I think we're getting our money's worth from hiring our engineer and having them go over the plan. I tell you what, a project this size

I was going to say Matt from the project. Sounds like you covered everything.

Oh, yeah. Hey, Matt. You know, for having a job this big and not having any change orders is huge, and that's a testament to basically us doing our due diligence on the front end, hiring our engineer, making sure he's looking after our size of things and working with BBL.

Yeah, and to be clear, too, we – Dave Pachigo from H2M, we have him at a very discounted rate. Frankly, we're lucky that he is a RPI professor that for years gave an assignment to his students to create a new city hall for Troy since he's been here on the fifth floor. Frankly, he signed up for it just because he loves it so much. Just to put this out there publicly and tell We'll start promoting this more, too, and tell people that you know that might be interested. Dave's been very helpful, too. We are going to adopt a chair program as a fundraising effort. So the chairs that, when everybody walks through it, are really from more of the more recent era of the theater, when it was more movie theater. They're not... Now, in my mind, they're historic, you know, 1970s or whatever, but they're not what, like, say, Chippewa would consider the real historic ones that are on the higher elevations in the balconies. We did store those chairs down there, so we did have, so we can still have them from that era, but we're taking chairs from the upper floors, bringing about 70 of them down to a section right kind of outside of the assembly area a hall, and what the mission is going to be that we'll do an adopted chair program. If you decide to sponsor a chair, you'll get a nameplate on the chair, and it will ultimately go towards funding a mural that would be on the, it would be facing the arcade hallway, it would be on the back of the assembly hall, and the idea is that we would engage the art center with the muralists, TAB, Mark McIntyre, And maybe they would do something that would look like the original curtain and things I think we'll get more feedback of what that mural actually looks like before that decisions made but. TAB, Mark McIntyre, we're that's something that we're going to be rolling out, I think the thought is that you know we're the donation would be for chair would be around somewhere around $2,000.

Will that program kick off once you guys are in there?

So what will happen is the chairs will be refurbished and installed before we take them into the building. But the mural won't be up. I'd imagine we'll start because the idea would be get some time, let people see it, you know what I mean, and stuff like that. It'll be an ongoing effort until we get to our goal number to then paint the mural.

So it would be one mural? So you're looking for how many chairs?

Well, so it's 70 chairs. Yeah, once you figure out the donation, what it costs to do the chairs, it will give us enough to possibly do even a little bit more than the mural we think in there, too, because There's been discussions of doing a mural out in the alleyway as well, since that's going to be closed down. Another thing, we'd want to get more feedback of what to put there and engage the art center and stuff, too. But yeah, that's the thought. That's a good idea. So yeah, I think it's nice buy-in to it as well, too. It's one of those things. So that should be pretty cool.

How is the construction budget? Are we adhering to it, or are we over budget, under budget?

No, I mean, we're right on target with the budget. I mean, really, the way that the GMP is set up is that drawdowns from our bond proceeds are timed pretty much with certain construction milestones. They hit those milestones, and we draw down from the bonding and pay them. You know, I would actually, I don't want to be I'd almost argue they're maybe even a little bit further ahead. I just don't want to, you know, fix that.

Well, I see at the end of June there's like 2.7 in that. Yeah.

And a lot of the stuff that has been paid out. Yeah. I mean, a lot of those heavy mechanical, like the HVAC that had to go for the assembly hall, I actually believe they have to get on the roof one more time. I think that's coming up soon. Right, Joe?

They were just there last Monday. I think that was the final time.

Was that last Monday? Okay. So they're finished with that stuff. Okay. A lot of the other stuff is, like I said, we're getting into the flooring and the finishes.

And the opening in the roof that we saw, has that been... That's been solved.

That's been... Mm-hmm. Mm-hmm. Oh, well, kind of the catwalk area there. Mm-hmm. Yeah. Yeah. Yeah. So, no, a lot of good progress with that. We've got about, it looks like, four or five more months to paint this, isn't it? Yeah. No, it's good.

Taking our show.

It's good. And, I mean, it's... Now it's exciting to see it really come together and see it flows. You also, again, as it comes together too, we have to, we try to adjust as we go with little things of, you know, oh crap, that was supposed to be here. Let's move that now. And so that's, we've been doing pretty good by staying on it, having a group there every week too. So multiple eyes on itself.

Yeah.

And again, with.

local city people with the engineers.

That's great. Thanks for that. Yeah, myself and Joe, if there's any. I mean, like, you know, Joe got the call when somebody crashed into it. We're set up for the security system and things like that, too. So we try to keep it. Police try to regularly, you know, swing by and things like that as well. So that ends Proctor. If that ends Proctor, I was just going to... King Fuels. I mean, really, the update on that is that... You know, that LDA is still kind of, I don't want to say going back and forth. It's kind of in their court right now that frustrates you. I do want to thank Justin, as always, for, you know, doing a lot of work with their attorney recently, keeping that ball moving for us, too. And I don't want to speculate on when the board's going to be looking at it. I'm always very guarded about giving those times off the mind. But I do feel like we could be there in August, I was going to say. You know, we seem like that's moving along. pretty well, too. And frankly, that, because some of the news about it as well and stuff, too, it's kind of sparked other conversations of what the LDC is doing and things, too. So that's been very helpful as well.

Have we signed that letter of intent?

The letter of intent was signed I think whenever that last meeting was.

Will we see that? It was in that

You did, yeah. You voted no to it, I think.

I know.

Yeah. That same one. That was April, May, whatever it was.

It was actually a letter of intent.

It was like a real, real old original letter of intent, yeah.

I'll have to go back and look because I thought the letter of intent was not yet ready.

No. No, we actually decided to try to be as upfront about it as possible, bring the letter of intent to the board where typically a letter of intent, seeing that it's not binding, really didn't need board approval, but we took it as an opportunity to kind of update the board on what's going on. That's when Tyler and Chuck came in as well and explained part of the projects and everything, so.

Yep. Okay, I didn't, I'll have to go back and look at my records.

And then I actually meant to say this up front. I know that our chair already did it, but I do want to welcome Commissioner Joe Mazzarello to the board. Joe's a great addition to the board. He oversees general services for the city. That department may be overseas besides police and fire, pretty much a big chunk of the rest of the city. He oversees code enforcement, sanitation facilities. parking. I'm sure I'm missing a couple things, but Joe's been crucial throughout this project. He was a perfect pick for the appointment here in an absence of a planning and economic development commissioner. He works very closely with me, not only on the city side, but he helps for the LDC. As some of you know, when we have issues down at King Fuels, Joe is one of the ones to go to down there. He's been, like I said, on the city end of it. He's part of our committee that's been monitoring and picking out finishes and working on everything with City Hall. So He's very familiar with the LDC and what we do here, especially from an operational standpoint. So not only is Joe a huge asset on the city end, I think that him being here on the LDC is really a huge addition to the board. And I thank you for being willing to serve, Joe.

Again, just to reiterate, welcome to the board. Thank you. I've got one thing. And I've sort of lost track a little bit. We had the property... I've sort of lost our inventory of properties. We had the little piece up on Northern Boulevard. Is that still ours, or is that... Do we have an inventory of what we own right now?

Yeah, I think that is something that we can work on to provide for the board.

I'm just trying to think if we're trying to... I mean, I hate sitting on properties. If we're sitting on them, we're not paying taxes. I don't know what we can do to move them, but I know there's a realtor here in this room, so if you have something that's available, you know, let's move it. Mm-hmm. I think it was just down to five properties, wasn't it? I mean, I know there's Northern Boulevard, South Troy. Yeah, but that's all different.

Yeah, I'm carving those out. I'm just taking the onesie-twosie pieces. Yeah, the little ones there, too. I'm afraid they shake through sometimes. Yeah, and that's, I mean, not even to, I had had these conversations, I think, actually with Andy a little bit, Justin a little bit, too, with that. Definitely, as much as we're taking more on, which is great, we definitely can provide more, which there's... To back up a little bit, the city's process has changed with surplus property because of a Supreme Court ruling where we usually would have a property review committee. You'd not just take into account the dollars and cents, but who has the best use for the property? That is... clauses of liability towards the city now, because really if you owe $100,000 in taxes and your property value is $500,000 and we sell your property for $100,000, well, you can sue us to recoup the full market value. So we have to send these properties to auction now. That establishes a fair market value. We still will make sure that those people are in good standing with the city. You can't have code violations. You can't be an absentee landlord. We still won't end up approving or sending the city council to somebody that's not in good standing when it comes to an auction. There's also some troubled properties that are on there as well that are commercial that have now failed that auction a couple times. I think if there's a property up on Pauling Avenue old Ardex factory and you know that's failed at auction a couple times that could see its way coming to the to the LDC because again that's what we do here we take you know trouble parcels and turn them over so they can get back on the tax rolls and we can have an economic boost out of them and I think that the city for too long would sit on properties with you know kind of step over a dollar for a penny And they cause lawsuits and liabilities and things like that, you know, i.e. Leonard Hospital. So we might be seeing some of that stuff, too, but I can provide that full list for the board. And one other very quick thing, since this is kind of my executive report here, is that also, too, I know we've talked about the one monument square here at board meetings before, and everybody sees the news articles and things. There should be legislation heading over to the city council for next week's meeting to start ironing out, starting the process of a transfer over to the LVC. There's still a lot of things that this board has to contemplate that our staff has to work on. There still will be plenty of actions that the city council will have to take, but it's a real first step on surplusing the property and making those, so that's another thing that we'll be seeing coming here soon. BUT REALLY, IT'S GOING TO THE CITY COUNCIL TO GET THE BLESSING OF THE SURPLUSSING OF THE PROPERTY AND THAT IT'S GOING TO BE GETTING SENT OVER HERE TO THE LDC SO WE CAN START IRONING OUT IN LDA ALL THE AGREEMENTS THAT COME WITH THAT.

SO, NORI, WHAT IS THE COUNCIL'S POSITION? I MEAN, NOT ON RECORD, BUT JUST IN GENERAL, IS THE COUNCIL PRETTY MUCH IN FAVOR OF THAT?

AS FAR AS I KNOW.

THEY ARE TODAY, ANDY.

They got a good shot at doing it, finally.

Well, that's what I was getting at. We started up on this.

People perseverate on the five or six times that the process tried to be executed. It wasn't anything that the city or the LDC did in those instances. The developers never went to site plan. They never executed on what they had to do to get a project built.

We have a good shot at this now. One of the benefits of it, too, is, I mean, look, we're I mean, a couple things is I don't think in just being a very involved citizen throughout all of those projects and living downtown through all of those potential projects. Yeah, I don't think there's really too much blame on the city or the LDC handling those. It really was, they did not have the components that we have here. All of those had funding gaps. They kind of had great proposals before they had funding. This actually kind of went the other way. The funding came and then the proposals getting more ironed out. And I mean, I guess that this- This one has a couple hundred high paying jobs. Yeah, and this proposal also, they have had the benefit of seeing all these reiterations and trying to mold into what really, I think that's why this is so publicly favorable. We had that very positive meeting at the Arts Center. Look, no bones about it, whether I agree or not with everybody, we have a very vocal and vigorous community engagement here in Troy. So to get a whole room of Trojans pretty much okay with something is a lot. So that really showed that the product is good. Again, the LDC is is the organization in the arm of the city that is the most geared up to this. This is what we do. We take these commercial properties, turn them over. It will be another great project for the LDC to take out.

Thank you for the old business and the executive report. Is that the end of your executive report?

That is the end of that. The next item is new business. For new business, I would like to make a motion to amend our bylaws to add, we actually have the amendments right on. Do we have amendments on section?

I did this last night, sorry.

So article two, membership section D, where it calls for two representatives to be appointed by the mayor of the city. I would like to amend that. AND CHANGE THAT TO THREE REPRESENTATIVES TO BE APPOINTED BY THE MAYOR OF THE CITY.

SO, ROUND US OUT FOR A TOTAL OF SIX IN CAPACITY RIGHT NOW. WE'RE SITTING ON FOUR. WE'RE MISSING AN IDA CHAIR, WHO'S EX OFFICIO. SO, IT WOULD JUST POTENTIALLY HAVE TO SIX, BUT WE COULD SEE FIVE FOR A FORUM AT THIS POINT.

and three would be a quorum, so we're five, right? Yep. Any discussion? All in favor? Aye. Any opposed? Okay, still carried.

I'll send around a red line, just so you guys have that. And likewise, to Doreen's point, once that red line's cleaned up, Denae will post that up. We're still sitting on the PDFs on the website of the last iteration, so we'll get that sent out.

Okay, thank you. That was my question.

Well, left out of the agenda.

Seamus, do we know when the mayor will make the appointment?

On my next week.

Okay.

Probably Thursday or Friday.

Okay. And do we have Can you tell us who it is?

I think that we have a candidate that you'll like in mind. You'll actually like this, sorry. I wanted to give you a win.

Last item of business.

Do we have a motion for adjournment? Motion.

Second.

All in favor? Aye.