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IURA staff reports loans current, accounting transition, and ongoing response to Asteri vacate order
Summary
Staff told the IURA committee that business loan repayments are current, a new accountant has been hired, CDBG expenditures are proceeding to meet a June 1 deadline, and staff are assisting with an Asteri tower vacate order that has left many residents temporarily housed in hotels.
During the staff report at the March 10 meeting, IURA staff said all business loan repayments are current and that the agency is transitioning to a new independent contractor accountant to restore regular monthly reporting. "All of our businesses are current on their loan repayments," the staff member reported.
Staff said the agency has made significant CDBG expenditures in recent weeks and expects to meet the statutory June 1 expenditure deadline; staff named completed payments including Cecil Malone sidewalks and Cherry Street and said a $60,000 voucher from Finger Lakes Reuse was recently submitted.
Separately, staff described the agency's role in assisting the city with the vacate order issued for the Asteri residential tower due to unsafe fire egress conditions: "The city has ordered that entire residential tower to be vacated due to unsafe fire conditions," the staff member said, noting many residents are temporarily housed in hotels while agencies and community partners work to address repairs and resident needs. Staff said this effort has diverted considerable time and limited the ability to complete other agenda items at the meeting.
The committee agreed to place a proposed real-estate transaction on the executive-session agenda; the motion to enter executive session was moved and carried unanimously. The meeting proceeded to closed session with no vote expected afterward.
