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From YouTube: BLDC Board Meeting 2023.07.27
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A
Foreign
good
morning,
everyone
I'd
like
to
call
to
order
the
July
meeting
of
the
bldc
and
first
on
the
agenda
is
the
approval
of
the
minutes
of
the
June
22nd
meeting.
D
E
D
We
can
start
the
judges
report
on
page
four,
with
the
restricted
account
so
the
end
of
month,
balance
and
restricted
was
796,
891
and
30
cents.
D
You
can
Circle
back
on
the
receivables
page.
There
is
nothing
new
in
particular.
D
So
there
are
there's
one
loan
that
definitely
paid
off
in
July.
That
would
be
DD
Bing
so
next
month
we'll
see
that
paid
off,
and
then
we
are
still
expecting
142
Court
Street
to
pay
off
and
we
are
possibly
expecting
with
Tebow
to
pay
off
in
either
July
or
August.
So
that
would
be
great
Rachel.
A
I
just
have
a
question:
I
just
noted,
Broome
County
council
at
church
was
just
never
made
it
amen.
What's
this
thing
this
and
that
so.
D
C
C
D
D
Obviously
yeah
sometime
in
the
next
fiscal
year,
I
would
imagine
she'll
start
making
her
payments
spiritually
or
I'm.
Sorry,
the
unrestricted
page.
On
page
eight,
there
was
the
ten
thousand
dollar
option
agreement
payment-
that
is
the
large
deposit
there
and
that
was
for
the
Charles
Street
Business
Park
the
USA
round
option.
D
If
we
skipped
to
the
broom
Enterprise
Tria,
there
has
been
no
activity,
mayor's
veterans,
initiatives,
no
activity
and
the
grant
account
no
activity
so
with
no
new
delinquent
loans,
the
end
of
month
or
the
yeah
the
end
of
months,
delinquency
percentage
of
our
loads
not
designated
as
non-performing
as
0.59.
E
The
only
thing
we
wanted
to
Circle
back
on
was
the
udab
fund.
This
is
the
first
resolution.
We're
going
to
vote
on
today
is
a
significant
amount
of
money
that
will
be
coming
out
of
that
fund.
E
So
Rachel's
been
doing
some
work
on
projecting
out
other
expenses
that
will
need
to
come
out
of
this,
but
we
will
have
significantly
less
cash
on
hand
in
this
account
for
the
foreseeable
future,
until
we
can
figure
out
a
way
to
get
this
boss,
glass
projects
that
were
completed
and
and
start
that's
part
of
our
local
police
negotiations
and
all
the
other
conversations
we're
having
on
Boscov.
So
we
did
agree
to
make
these
payments
last
September
when
we
signed
their
lease
extension.
E
So
just
gonna
be
some
short-term
pain
in
that
account,
and
then
Rachel
have
traditional
figures.
If
she
can
share
anybody's
interested.
A
Okay,
anything
else
right.
We
have
no
old
business,
but
we
have
four
resolutions
today
and
the
first
being
what
Sarah
just
referred
to
you
take
a
look
at
resolution.
23.18.
A
Is
a
resolution
of
the
Binghamton
local
Development
Corporation
authorizing
reimbursement
to
Boscov's
department,
Store
LLC
for
maintenance
on
the
boiler
and
free
elevator
so
reading
further,
it's
not
to
exceed
563
88101
from
the
udag
fund
and
as
of
right
now
we
are
going
to
withhold
139
000
50
until
proof
of
payment
is
provided
by.
E
Bus
so
today
they've
provided
everything,
but
that
139
in
invoices
and
proof
of
payment
for
work
on
the
boiler
and
the
freight
elevator
that
again
was
agreed
to
in
that
lease
expansion
that
the
LDC,
the
Ida
and
Boscov
signed
last
year.
This
was
work
that
needed
to
be
done,
it's
integral
to
the
structure
of
the
building
really
and
then
their
ability
to
operate
safely,
not
just
Boscov's,
but
the
building
itself
needed
these
improvements.
E
So
while
we
were
doing
this
at
least
negotiations,
we
identified
these
as
more
Mission,
critical
and
time
sensitive
holded
them
into
that
at
least
negotiation,
but
agreed
to
to
thread
those
costs
and
really
those
those
are
our
responsibility
as
one
of
the
the
landlords
of
this
property,
but
we'll
we'll,
hopefully
have
a
cleaner
understanding
of
our
relationship
with
Boscov's.
E
A
E
This
is
a
really
what
I
would
describe
as
like
a
single
family
home
lot
between
two
other
homes
on
Front
Street,
it's
very
narrow.
It
extends
kind
of
far
back
I,
think
it's
0.18
Acres.
This
was
part
of
the
properties
that
we
received
from
the
Ida
when
we
took
the
Charles
Street
Business
Park.
These
were
pump
stations
that
were
associated
with
the
former
and
attack
facility.
They
were
designed
to
pull
water
out
of
the
aquifer,
there's
a
number
of
them
that
we
own
across
the
city
of
Binghamton.
E
They
do
not
have
any
function,
they
do
not
operate
anymore.
We
had
our
engineering
department
go
in,
take
a
look
and
determine
if
there
was
no
value
to
the
materials
or
structure
of
the
building.
We
had
the
Ida
confirmed
to
us
that
they
had
not
in
the
period
of
ownership
that
they
had
ever
had
any
use
for
them
or
any
any
realization
that
they
should
retain
ownership.
The
property
owner
next
door
wants
to
take
control
of
the
property
take
over
the
maintenance.
E
So
we're
planning
on
treating
this
as
similar
to
our
side
law
program
that
the
city
of
Binghamton
has
where
we
sell
the
property
and
Below
market
value.
But
really
the
value
to
the
bldc
is
that
we
no
longer
have
to
pay
for
maintenance
costs,
snow
removal
on
the
property
and
really
it's
not
in
the
mission
of
the
bldc
to
own
a
property
like
this.
It
doesn't
have
any
commercial
or
Industrial
Development
potential.
E
It's
really
only
well
suited
to
be
a
side
lot
or
if
somebody
wanted
to
build
a
single
family
home
on
it,
but
as
we
know
that
that
market
for
new
builds
single-family
homes
in
the
city
of
Binghamton,
we're
not
seeing
very
many
of
those.
If
any
at
all,
the
expectation
is
really
that
it'll
just
be
green
space
it'll
be
maintained
by
the
property
owner
next
door.
So
do
we
have
a
price,
it's
five
thousand
dollars.
So
the
way
we've
been
doing
all
of
our
sales
through
properties
that
we
got
from
the
Ida.
E
E
They
countered
with
five
thousand
I,
think
that's
a
perfectly
acceptable
price,
because
again,
this
just
costs
us
money
to
own.
We
were
I,
didn't
get
a
chance
to
pull
them,
but
we
can
pulling
all
the
maintenance
records
of
things
that
we've
paid
for
over
the
years
and
and
I
think
it
amounts
to
more
than
that.
1300
difference.
E
E
I
have
advised
them
that
it
has
to
be
approved
by
the
Authority's
budget
office
and
there's
this
additional
time
period
and
they
were
comfortable
with
that
gives
us
some
additional
time
to
talk
with
Corporation
Council
about
the
best
way
to
facilitate
this
because
I
don't
think
the
bldc
has
disposed
of
real
property
in
the
recent
past,
so
just
making
sure
that
our
processes
are
all
locked
in
which
will
be
good
because,
ideally
we'll
be
selling
some
of
these
properties
that
are
under
option
of
the
Charles
Street
Business
Park.
E
F
A
C
F
E
E
F
A
Moving
on
to
resolution
23-20
a
resolution
of
the
Binghamton
local
Development
Corporation
authorizing
the
president
to
enter
into
an
agreement
with
Barton
on
the
gdus
VPC
for
additional
services
to
update
the
Clinton
Street
neighborhood
business
district.
Revitalization
plans.
I
know
that
we
had
previously
entered
an
agreement
with
them
and
I'm
assuming.
This
is
just
an
update
of
that.
E
Correct
we
would
like
to
engage
in
negotiations
and
partners
units
for
a
supplemental
agreement
to
that
contract
to
support
our
2023
dri
application.
The
state
announced
that
those
applications
opened
yesterday
they're
due
in
late
September,
so
our
plan
is
really
solid.
All
the
information
in
the
market
study
all
still
stands,
but
we
need
to
do
some
updates
on
some
projects.
E
Maybe
include
some
new
projects
that
have
come
up
in
the
last
year,
take
off
some
projects
that
we've
decided
to
take
on
at
the
city
level,
and
we
have
to
do
some
additional
public
engagement
which
we're
planning
on
doing
in
September
and
just
reach
back
out
to
our
stakeholders
that
were
reported
to
this
last
year
and
make
sure
that
they
don't
have
anything
that
they
want
to
add,
but
it'll
be
largely
the
same.
E
Similar
application
just
updated
with
this
year's
facts
and
figures
and
having
a
supportive
part
in
the
legit
is
to
actually
make
those
changes
would
be
very
helpful.
I
put
the
twenty
thousand
dollars
as
a
not
to
exceed
here,
because
we're
still
negotiating
that
price
I
do
not
anticipate
we'll
be
anywhere
close
to
that.
I
bought
us.
Some
brilliant
room,
my
expectation,
is
that
we're
somewhere
between
nine
and
ten
thousand,
the
only
thing
that
might
up
that
price
is
last
year.
E
So
I
I
want
to
submit
some
questions
to
this
data
about
whether
that's
something
that
they're
going
to
be
looking
for
in
the
dri
this
year,
and
then
we
could
have
Barton
the
Judas
subcontract
that
out
as
part
of
this
supplemental.
So.
F
E
G
F
E
You
and
we're
pulling
the
last
resolutions.
I
had
some
conversations
with
HDR
yesterday
and
I.
Just
don't
think
the
application
is
going
to
fly
in
light
of
another
application
we
have
coming
in
from
the
city.
So
all
right,
we
will
we'll
continue
the
Boscov
Saga
and
figure
out
how
we're
going
to
fund
these
improvements
over
the
next
10
years
or
so.
B
Thank
you.
So,
as
Sarah
mentioned,
the
dri
was
announced
yesterday
by
the
governor's
office.
I
think
that
last
year's
application
by
the
blbc
in
the
city
turned
a
lot
of
heads
and
what
may
have
been
a
beta
complete
with
the
winner
Boston
pause.
So
that's
good,
so
I
think
we're
very
well
positioned
this
year
for
for
a
successful
application
and
updating
the
plan,
as
we've
just
approved
I
think
is
an
important
part
of
that.
B
You
know
the
other
big
sort
of
Economic
Development
development
has
to
do
with
Water
Street
mixed-use
project,
so
I
guess
it
was.
Last
week
the
school
district
voted
down
the
proposed
pilot
Bond
financing
for
the
site.
The
school
district
had
to
weigh
in
and
I
believe.
It
was
the
first
time
in
my
knowledge
that
the
school
district
has
ever
weighed
in
on
a
payment
in
lieu
of
taxes
agreement
because
the
taxes
were
deviated
in
a
way
from
the
school
district,
county
and
City
to
fund
this
pilot
Bond.
B
The
deal
was
a
really
good
deal
for
the
school
district.
It
meant
more
than
two
million
dollars
in
Revenue
over
28
years
and
then
once
the
the
property
was
full
valuation.
You
know
many
more
hundreds
of
thousands
of
dollars
in
the
future.
That
being
said,
they
did
not,
in
my
opinion,
properly
weigh
the
the
pros
and
cons
of
the
project
but
voted
nonetheless
voted
it
down.
B
We're
not
deterred
we're
going
to
be
looking
at
what
can
be
done
in
terms
of
a
new
deal,
we're
conferring
with
Council
on
ways
that
we
can
both
Advance
the
parking
garage.
B
While
we
figure
out
the
details
of
this
housing
component,
I
think
both
are
still
really
important
to
downtown
Binghamton
and
I
think
that,
ultimately,
we
will
find
a
deal
that
works
and
a
deal
that
is
structured
in
a
way
that
we
may
not
have
to
go
through
a
heavily
bureaucratic
process
of
basically
four
different
entities
and
Boards
approving
One
One
Pilot,
as
I
said,
do
one
of
the
reporters
I
spoke
to
when
you're
trying
something
new
when
you're
trying
to
be
creative
when
you're
leveraging
what's
available
in
state
law.
B
That
may
not
have
been
seen
here
locally
before
you're
going
to
get
some
scrapes
and
some
bruises.
You
know
when
you're
the
first
one
forging
Through
the
Jungle,
but
that's
okay,
we're
okay,
with
bruises
we're,
okay
with
speed,
bumps
and
ultimately
I.
Think
we'll
we'll
have
a
a
plan
that
works
in
a
deal
that
works
so
deal
is
not
dead.
It's
it's
the
opposite
of
that.
B
We're
very
active
in
negotiations
with
the
developer
to
see
a
garage
that
supports
Boscov's
in
all
of
the
downtown
small
businesses,
as
well
as
this
market
rate
housing,
which
is
you
know,
really
critical
and
all
of
the
the
different
jobs
that
it
would
create
in
the
short
term
and
also
deliver
hundreds
of
new
people
to
downtown
Binghamton.
B
So
that's
kind
of
where
we're
at
on
Water
Street
go
ahead.
G
B
What
does
that
mean
that
Revenue
sure
so
right
now,
obviously
the
site
on
Water
Street
has
generated
zero
dollars
in
tax
revenue
for
50
years
right,
School
District
hasn't
received
any
money
when
we
negotiated
the
payment
and
lift
taxes
agreement,
while
the
the
school
district
once
this
development
came
online,
would
not
be
receiving
the
full
tax
amount,
they'd
be
receiving
a
smaller
portion,
but
something
that
was
more
than
what
they
would
be
getting.
B
If
the
project
didn't
take
place
over
the
course
of
a
28-year
period,
it
was
about
two
million
dollars
in
in
revenue
for
the
school
district,
again
a
little
bit
less
than
two
million
dollars
in
revenue
for
the
city
and
then
a
lot
less
for
the
county
based
on
the
taxes
over
28
years
over
28
years.
That's
correct!
Yes,.
B
Not
going
to
hypothesize.
B
Maybe
I'm
not
sure
I
think
that
we
had
pushed
to
visit
them
at
a
work
session
or
a
committee
meeting
prior
to
their
vote.
They
decline
those
offers.
So
that
was
disappointing,
but
we
will
continue.
You
know
fighting
for
the
project
and
we're
confident
that
we're
gonna
be
able
to
get
something
done
that
where
everyone
benefits
really
but.
C
Yeah
but
there's
another
good
part
in
this
thing
that
they
don't
think
everybody
understands
either
there's
about
four
and
a
half
million
dollars
worth
of
infrastructure
that
has
to
go
into
that
site.
To
put
the
house
up.
Okay
in
the
negotiations,
I
didn't
want
to
eat
that
for
the
city
right,
okay,
so
I
negotiated
with
them
to
pay
for
that
over
25
to
28
year
period,
That's
How,
The,
Pilot
Bond
got
in
there,
so
250
000
a
year
was
going
to
pay
that
debt
off
right;
okay,
so
they're
still
making
it
that's
what
got
deviated.
G
Yeah,
that's
a
lot
of
money
to
come
out
of
pocket
correct,
especially
when
you
don't
really
have
it
right,
yeah
yeah,
so
so
the
only
other
thing
I
might
suggest
to
look
at-
and
maybe
you
already
have-
is
what
the
developer's
fee
is
in
going
into
the
development
project,
because
often
the
developers
get
their
development
fee
up
front
when
a
bank
gets
done
financing
and
that
might
give
you
I
mean
if
it's
three
or
four
or
five
million
dollars.
G
C
G
B
It's
a
very
it's
a
very
complex
deal
and
and
I
think
that
if
you
look
at
this
in
other
cities
right
this
happens
all
the
time
it
doesn't
happen
all
the
time
in
the
world
you're
right,
we
have
Pilots,
but
these
are
creative,
public-private
Partnerships.
These
are
complex
deals
and
you
know
just
because
something's
new
doesn't
mean
it's
not
good,
right,
I
think
that's
some
of
what
we
ran
into
with
the
school
district.
Frankly,.
A
G
C
Scene,
here's
the
other
thing
that
I
think
is
important.
Okay,
this
isn't
today's
environment.
Okay,
there
was
a
lot
of
things
said
at
this
meeting
where
we
didn't
get
a
chance
to
speak
meeting
the
mayor
and
the
developer.
That's
wrong
and
other
people
came
in
and
said
things
that
were
blatantly
inaccurate.
Okay,
not
knowing
this
project
has
over
70
percent
Union.
A
C
A
B
A
Which
is
which
is
very
encouraging,
given
the
environment
in
terms
of
lending
and
higher
interest
rates,
to
hear
that
they're
not
just
backing
out
yeah.
So.
B
B
E
Sarah
I
will
keep
my
remarks
brief.
The
two
big
updates
we
have
are
that
last
year
we
were
very
excited
to
sign
the
option
agreement
with
steezy
for
the
eight
acre
Parcels
apparel
Street,
Business
Park.
They
have
let
us
know
that
they
will
not
be
renewing
that
pros
and
cons.
The
pro
is
that
we
get
to
keep
the
fees
that
they
paid
up
front,
which
gives
us
a
little
bit
extra
breathing
room
in
the
situation
where
we,
our
udac
money,
is
tight,
disappointed
to
hear
that.
E
But
really
it's
not
a
result
of
the
city
of
Binghamton.
They
had
positive
things
to
say
about
their
interactions
with
us.
It's
about
the
regulatory
environment
in
New,
York
state,
and
they
have
no
estimation
on
when
they
can
even
get
their
licensing
to
do
what
they
wanted
to
do
in
Binghamton.
E
They
still
have
us
in
mind.
They
still
want
to
come
back
to
the
table
if
and
when
they're
able
to
get
over
the
regulatory
hurdles
from
New
York
state,
but
they
just
didn't
want
to
hold
this
piece
of
property
and
continue
to
to
pay
money
on
a
property
and,
quite
frankly,
hold
it
up
from
us
being
able
to
look
at
other
options
when
there
was
really
no
end
in
sight
to
the
regulatory
hurdles
that
they
are
looking
to
overcome.
E
So
we've
had
some
interest
in
that
site
over
the
last
year,
so
we'll
reach
out
to
those
folks
we're
also
doing
a
reuse
analysis
of
22
Charles
Street,
which
is
owned
by
the
city
of
Binghamton.
But
having
that
Associated
80
acre
parcel
right.
There
makes
that
an
even
more
attractive
development
opportunity.
So
what's
that
reuse
analysis
is
done,
I
think
we'll
start
looking
at
whether
we
want
to
aggressively
Market
those
two
Parcels
together
and
what
kind
of
makes
sense,
but
still
waiting
on
the
data
to
come
in.
E
E
We
had
combined
them
in
the
option
as
an
eight
acre
parcel,
but
there's
multiple
Parcels
there,
so
it
doesn't
have
to
be
a
project
that
requires
eight
Acres,
so
I
think
we
would
love
to
see
the
entire
eight
acre
parcel
developed
as
one
that
we
kind
of
our
our
preference,
but
we'll
we'll
come
back
together
as
a
board,
probably
our
strategic
priorities
committee
and
discuss
what
our
priorities
are
for
development
at
that
site
and
kind
of
figure
out
what
we
want
to
do
in
terms
of
marketing
and
moving
forward
on
that
so
disappointing
on
the
one
hand,
but
understandable,
based
on
everything
that
you're
hearing
from
New
York
City
in
the
office
of
Canada
management
and
businesses
that
are
trying
to
come
into
New,
York,
especially
large
scale,
and
then
the
other
piece
of
good
news.
E
They've,
temporary,
temporarily,
relocated
and
and
they'll
be
looking
to
to
move
forward
on
that
once
we
get
to
the
hurdles
of
getting
the
Innovation
Associates
building
renovated
for
their
purposes
as
I
know,
the
same
round's
been
involved
in
those
conversations
as
well
so
and
I
just
want
to
give
a
shout
out
to
Joel.
I
know:
I
always
say
that
he's.
You
know
our
real
estate
whiz,
but
it's
not
just
because
he's
working
on
the
greater
Binghamton
MLS.
It's
because
he's
built
contacts
over
the
last
22
years.
E
He
knows
real
estate
agency,
those
Property
Owners
he's
able
to
give
people
a
call
he's
able
to
build
these
relationships
and
then,
when
an
opportunity
comes
up,
he
knows
who
to
go
to
to
talk
to
and
and
really
get
these
things
over.
The
finish
line
so
I
I
will
try
not
to
say
it's
just
real
estate
anymore,
because
it's
natural,
it's
all
the
relationships.
You've
built
we're
really
appreciative
of
all
of
your
work
on
this
project.
Thank.
D
A
All
right
motion
to
adjourn.