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IDA reviews project updates, discusses property offers and seeks authorization related to transmission-main dispute
Summary
The IDA reported project draws, property-sale activity and asked the board to authorize litigation tied to a transmission-main project; a $20,000 purchase offer for a front property was discussed and staff outlined contract-extension timelines for Russell Farm.
Agency staff provided a series of project updates including recent draws on Skyler Business Park infrastructure, a proposed purchase offer for a front parcel, ongoing negotiations for Russell Farm, and an authorization request tied to a transmission-main dispute.
Staff said the most recent draw on the Skyler Business Park entrance project was for “500 and something thousand dollars” and that additional closings on other properties are expected. The board discussed timing and project cashflow as those draws move through the financials.
The board considered an offer to sell a front property to a buyer named Bill Gaetano. Staff said Gaetano had agreed to $20,000 for the front parcel and that, if the board voted to accept the offer, staff would have counsel and staff prepare a purchase offer. A motion and a second were recorded on the matter; no roll-call vote or tally was stated in the transcript excerpt.
Board members also discussed Russell Farm, which the IDA said remains under contract. Staff said the contract holder has invested in site preparation and has asked for an extension until the contract’s September expiration; staff said they expect an update and possible renewed offer at the next meeting.
Separately, the board considered a motion to authorize litigation with respect to a transmission-main project. The chair asked for a motion “to authorize litigation against department … with respect to the transmission main project.” A board member moved and another seconded; the transcript records the motion being made and seconded but does not record a roll-call tally in the excerpt available.
Other updates included a report that the Skyler water-tank design was approximately 72 percent complete, that a change from a glass-lined tank requirement to steel with a new coating could reduce costs by about $2,000,000, and that the IDA is coordinating with Mohawk Valley Water Authority and National Grid on water and electric infrastructure issues.
The board scheduled executive-session discussion of some property matters and litigation and said staff would circulate purchase-offer paperwork and a contract-extension update at the next meeting.
