Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Project Assistance topic
No spam. Unsubscribe anytime.
IDA ratifies $50,000 portion of ISO study for Returning Off the Rail LLC
Summary
The Herkimer County IDA ratified prior approval of financial assistance tied to an ISO study for Returning Off the Rail LLC; staff said the full study cost reached $150,000 and the company paid up-front.
The Herkimer County Industrial Development Agency on April 22 ratified the agency’s prior financial assistance related to an ISO study for Returning Off the Rail LLC.
Victoria told the board this action was to ratify the earlier vote and that the $50,000 portion of the study agreement had been included in the contract; she said the ISO study ultimately cost $150,000 and the developer paid for it and provided the agency with study data and deliverables.
Board members discussed whether separate motions were necessary for the study agreement and the $50,000 financial assistance; Victoria said both items could be combined because the agreement explicitly listed the $50,000 portion. The board voted to ratify the prior action; the transcript records a motion, a second and no roll-call tally.
Board member discussion also noted the agency will have the completed ISR (ISO) study and data because the developer incorporated and included the IDA in the information exchange.
No further conditions were recorded in the meeting minutes.
