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Board authorizes extension of Ruki LLC contract through year-end

Peekskill Industrial Development Agency / Peekskill Facilities Development Corporation · August 27, 2024
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Summary

Board authorized continuation of the agency support contract (Ruki LLC) through the end of the year; staff will include the full contractual amount in the FY2025 budget process after further review.

S2 reminded the board that the Ruki LLC contract approved in December was for an initial six-month period and needs renewal. Abby (S4) reported that the contract has charged $47,000 so far and that, annualized at the current rate, the cost would be about $74,000.

The board authorized continuation of the contract through the end of the calendar year by motion and voice vote, and staff will fold the full contract amount into the FY2025 budget discussions. Abby said she will use the lower-activity months (October–December) to help annualize a more representative number for budgeting.