WEBVTT

1 "jspaeth@cityofutica.com" (677920768)
00:00:00.000 --> 00:00:20.000
Yeah. Action item approval minutes 20 November 2024.

2 "jspaeth@cityofutica.com" (677920768)
00:00:20.000 --> 00:00:34.167
Can I second? Jack all in favor. Project updates. Who's gonna do it?

3 "Lisa Nagle, EDR" (135667968)
00:00:34.167 --> 00:00:52.128
Yeah, the 1st one then is an action for the DSA one. They're they as you know, they're requesting an extension for their due diligence period and Bob will put together a resolution for action by this board.

4 "jspaeth@cityofutica.com" (677920768)
00:00:52.128 --> 00:01:12.560
Okay, the pilot payment was approved this morning. There's gonna be a hearing on the 28th which expecting a little pushback from the city school district, but we think that'll be through and they'll be ready to close within or we'll finalize that.

5 "jspaeth@cityofutica.com" (677920768)
00:01:12.560 --> 00:01:30.810
Inducement probably three or four days later or so, so they asked for the extension but they intend to close as soon as we get the final payment approved, so, so revenue for them? Yeah.

6 "jspaeth@cityofutica.com" (677920768)
00:01:30.810 --> 00:01:48.390
Which is interesting. There was, it was spurred really by the the original deal that was made because it was just so much but this administration has worked to get it three times as much down.

7 "jspaeth@cityofutica.com" (677920768)
00:01:48.390 --> 00:02:04.260
Well, the taxes the amount of taxes to be paid. The oh ok so and what is the what is the pilot programs? How did it work? What is the amount? What's, it's it comes out to about five points.

8 "jspaeth@cityofutica.com" (677920768)
00:02:04.260 --> 00:02:24.260
Five or $5.5 million or something over how many years, 20? Or does it get smaller as the time goes on? It's larger. Do they have the the amount we paid them gets larger?

9 "jspaeth@cityofutica.com" (677920768)
00:02:24.260 --> 00:02:46.100
Is a certain amount of do they have to hire a certain amount of people in the classroom? Is there stuff like that in it? Are you gonna be able to see this pilot? It's, I mean I'll have it online at some point, then you can just go with your leisure. That's something that has to come in front of the council or NO? No. No it's public care.

10 "jspaeth@cityofutica.com" (677920768)
00:02:46.100 --> 00:03:10.550
Right, and then come back to the idea and then we will vote on it. Okay. Administration's in favor of that pilot the table negotiated at some. And what this is, they needed an extension because everything was gonna expire today any extension we've given them what they've expired today relative to the.

11 "jspaeth@cityofutica.com" (677920768)
00:03:10.550 --> 00:03:30.550
So they asked for an extension so that we didn't lose that. So that's what this Is there any timeframe when they actually plan on putting shovels in the ground as soon as the ground thoughts in March then they said, you know, there's, if you remember all the board meetings, you know, they've had it where they like two.

12 "jspaeth@cityofutica.com" (677920768)
00:03:30.550 --> 00:04:00.390
Yeah. Their plan is to just go in and just do the whole thing up instead of just doing different pieces. And they're gonna start with the SA one, I believe which is the partial tell. Yeah. We haven't had a change of plans or nothing it's not in the work, we're right on right? Just one additional question.

13 "jspaeth@cityofutica.com" (677920768)
00:04:00.390 --> 00:04:18.000
Are are there any other open diligence items besides the IDA pilot that remains open ended? Because if you if you look at the the 3rd where the 3rd from the bottom where it has caused some second to last.

14 "jspaeth@cityofutica.com" (677920768)
00:04:18.000 --> 00:04:36.629
And several other open additional open several other additional open due diligence development of the DSA part type thing. So my my question is, you know, I I understand.

15 "jspaeth@cityofutica.com" (677920768)
00:04:36.629 --> 00:04:52.049
But are there any really other open ended region was suggested here that there are? If in fact there are, can anybody identify what those open ended issues are? Melanie and Bob, can you hear that question?

16 "jspaeth@cityofutica.com" (677920768)
00:04:52.049 --> 00:05:12.049
We think we can hear it. I I think the question was whether there are any other open items. Basically, all of the contingencies that were in the contract originally are still in the contract. They've not been satisfied or waved. They're in process. We haven't received anything from Rob. Saying that they've been satisfied.

17 "jspaeth@cityofutica.com" (677920768)
00:05:12.049 --> 00:05:43.259
He did indicate he wanted an amended title based on possibly a reconfiguration of lot four but that that's not been fleshed out yet. This has been Does the Canal Corp one of them were are we still waiting on them? Canal Corp for the standstill agreement? Okay. Well, there's those types of things. Clawback agreement also Melanie too.

18 "jspaeth@cityofutica.com" (677920768)
00:05:43.259 --> 00:05:58.739
Yeah, that's ok. So here's my question. Have have they in earnest them making headway with regards to all of the issues that encompass due diligence?

19 "jspaeth@cityofutica.com" (677920768)
00:05:58.739 --> 00:06:18.449
Because or are they just, are they just now because today is the day of. Just again kicking the can down pertains to open issues. Have they got all of their financial commitments pledged? And have we seen commitment letters as it pertains to.

20 "jspaeth@cityofutica.com" (677920768)
00:06:18.449 --> 00:06:33.539
What they're seeking to endeavor because I mean there's a big difference between IDA issue and issue because of the timing and all these other issues because, you know, they keep promising and promising or promising that I don't see.

21 "jspaeth@cityofutica.com" (677920768)
00:06:33.539 --> 00:06:51.179
And I preferred others, I don't see anything from my perspective, concrete in terms of them moving towards the ultimate acquisition for the party. And I hope I'm wrong. My understanding is you know.

22 "jspaeth@cityofutica.com" (677920768)
00:06:51.179 --> 00:07:07.109
They have their investors in place. I think these issues with the Canal Corp banana are really theirs. They're, they're ours. We gotta work through them. I don't think they have contingencies that are really holding us up. It's really.

23 "jspaeth@cityofutica.com" (677920768)
00:07:07.109 --> 00:07:24.839
Because if you look at this mr. Chair in that warehouse, it says once again for continued purposes of finalizing negotiations with respect to the agency. But if they got their financing in place.

24 "jspaeth@cityofutica.com" (677920768)
00:07:24.839 --> 00:07:39.959
You would think that they would be at this juncture sharing that with somebody at this table, that they have fulfilled that they have for what's that they've represented it with that.

25 "jspaeth@cityofutica.com" (677920768)
00:07:39.959 --> 00:07:56.129
We're not requiring financing, right? We don't care if it's finance or not, we just want the cash payment upon upon sale, so you're, you're satisfied because you're, you're really the point people, you're satisfied that progress is being made.

26 "jspaeth@cityofutica.com" (677920768)
00:07:56.129 --> 00:08:17.209
Well, I mean I can only assume it's been made, right? I mean, there's a list of contingencies you know there's things in there like government approvals. I mean that's they're waivable or they don't meet them and they walk away, right? I don't I don't, I don't know that's those aren't our issues. I mean we have to assume in good faith they're working to to close and they've asked for the.

27 "jspaeth@cityofutica.com" (677920768)
00:08:17.209 --> 00:08:40.489
Due diligence period be extended until 1 April. And then closing would take place 30 days after that. Yeah, I I get it, but I I think it is our place to ask those kind of questions. Where do you stand on due diligence? What are your open due diligence issues? We've provided what we were we we provided the updated title and we provided the survey. We.

28 "jspaeth@cityofutica.com" (677920768)
00:08:40.489 --> 00:09:03.139
Have been provided with drafts of easements that will review and comment on once we understand Rob Healthin's request for this revised configuration of lot four. So you don't you don't you don't think you don't think it's our place instead to ask them what the open due diligence items are and what the status of those due diligence items? I'm talking about I'm not talking about our.

29 "jspaeth@cityofutica.com" (677920768)
00:09:03.139 --> 00:09:26.089
Responsibilities. I'm talking about their responsibilities. Anyway, I you know unfortunately I did this for a living and I I think asking those kind of status questions is in fact our responsibility as the as the owners and as the LDC. So if you're serving and please don't take this in the wrong direction, but we're.

30 "jspaeth@cityofutica.com" (677920768)
00:09:26.089 --> 00:09:47.419
A direct kind of a guy. If you're serving as our point people, you should be asking those kind of questions because I want to know what those answers are when I walk to this table. I don't want to just, I just wanna be a bobble head here, ok? That's, that's I I I've never been a bobble head I'll never be a bobble head and I demand answers and I don't think that those.

31 "jspaeth@cityofutica.com" (677920768)
00:09:47.419 --> 00:10:11.279
The kind of questions that I'm posing are out of the line with regards to the role that you're serving this LDA. So I think you're exactly right that we should know what the diligence items are and when the 1st extension was requested, we ask that and when 2nd extension was requested, we ask that. We did not get a response in either case.

32 "jspaeth@cityofutica.com" (677920768)
00:10:11.279 --> 00:10:30.509
So my my my answer personally, they're asking us for, for this extension, and I think the answer should be, well, tell us what the status number is and then we'll act on the extension or make it so sub subject to them providing us with satisfactory answers.

33 "jspaeth@cityofutica.com" (677920768)
00:10:30.509 --> 00:10:50.509
Because I I just see the can't get kicked down the road and I don't I wanna see, I wanna see a shoveling. So what do you recommend that? Well I would hope they would have been here today. Somebody would have been here today. Well, since we did ask them to come.

34 "jspaeth@cityofutica.com" (677920768)
00:10:50.509 --> 00:11:13.189
And they didn't respond, I thought they'd had. So if they haven't I think we tell them that we'll wait until they respond because then that way we have all the information. I'm not sure. Well, does it end today or I mean are we on a course. The contract will expire if at the extent.

35 "jspaeth@cityofutica.com" (677920768)
00:11:13.189 --> 00:11:30.899
Isn't granted, so to, you know, Ben has signed the contract to keep it continuous, and this resolution is ratifying and confirming in signature so that we don't break the contract.

36 "jspaeth@cityofutica.com" (677920768)
00:11:30.899 --> 00:11:41.581
It it's already been written, right? I mean, can we give them a shorter, can we give them like a two week extension for them to come up with this information?

37 "Phil" (561491456)
00:11:41.581 --> 00:11:44.132
Or a conditional extension?

38 "Lisa Nagle, EDR" (135667968)
00:11:44.132 --> 00:11:49.352
Or resend it, have them come in February and resend it if they don't come with the answers.

39 "jspaeth@cityofutica.com" (677920768)
00:11:49.352 --> 00:12:09.529
No, I I think you you make our our approval of the extension contingent about being provided with a status report for today within a certain period of time by our next meeting, I think would be good. I think that's way too long. Say a week especially when the questions.

40 "jspaeth@cityofutica.com" (677920768)
00:12:09.529 --> 00:12:42.107
It's not an unreasonable request. No, NO. Not an unreasonable request, and this is I'm not trying to kill the deal. This is not trying to kill the deal, but I think we have a fiduciary responsibility to understand where they're at. That's all. I think maybe Anna, you could mention the two times that you did ask them for it and you're still waiting, so that way they don't think we're just pulling this out of our back pocket as well.

41 "Lisa Nagle, EDR" (135667968)
00:12:42.107 --> 00:12:43.464
A week?

42 "jspaeth@cityofutica.com" (677920768)
00:12:43.464 --> 00:13:14.385
So I, I would I would make a motion that we execute and the extension subject to within within 14 days being provided with a detailed explanation of what due diligence items still remain for consideration and what they're they are doing to fulfill those due diligence items, like detailed reporting.

43 "Lisa Nagle, EDR" (135667968)
00:13:14.385 --> 00:13:21.688
Should we ask for, just a status on every single one, whether it's outstanding or not?

44 "jspaeth@cityofutica.com" (677920768)
00:13:21.688 --> 00:13:40.499
Well, if we don't, if we don't, if we don't know where it stands, then it's open ended, right? So we're asking for a a detailed report of any and all open due diligence items, the status of those due diligence items, a timeline for their fulfillment of those due diligence items.

45 "jspaeth@cityofutica.com" (677920768)
00:13:40.499 --> 00:14:00.499
And an understanding where we, where we stand with regards to their intentions for closure of this transaction. So just so just to be clear, the diligence period is obviously for the benefit of the purchaser. They could weigh in any of these contingencies, they could satisfy them or they could just walk away.

46 "jspaeth@cityofutica.com" (677920768)
00:14:00.499 --> 00:14:23.669
So you're right in that this is a little open ended, but even if we get this list of items which I think would be helpful to the board, it doesn't mean that they're going to still close. It's, it's open, they have the ability to terminate. Yeah, but we'll we'll we'll be able to assess whether or not there that the that the how real.

47 "jspaeth@cityofutica.com" (677920768)
00:14:23.669 --> 00:14:43.439
And likely and likely the the that the closing will your language provide, so you're, you would pass this resolution which extends the due diligence period to 1 April contingent on.

48 "jspaeth@cityofutica.com" (677920768)
00:14:43.439 --> 00:15:03.439
A status update on the contingencies being provided to let's say the chairperson within four within 14 days, within 14 business days. Okay, it's not subject to additional review, it's just you you want to make sure.

49 "jspaeth@cityofutica.com" (677920768)
00:15:03.439 --> 00:15:14.899
Or that Ben and of course Vin would share that with you all I'm sure we get this updated list within 14 days. That's great.

50 "Lisa Nagle, EDR" (135667968)
00:15:14.899 --> 00:15:18.768
And then I didn't hear 14 business days or 14 calendar days.

51 "jspaeth@cityofutica.com" (677920768)
00:15:18.768 --> 00:15:45.239
Sounds like 14 calendar days sounds more of amenable to the to the 14 calendars. And if they have any reservations with regards to this, then I suggest that we hold a special meeting and have them show up and see the white arrives.

52 "jspaeth@cityofutica.com" (677920768)
00:15:45.239 --> 00:16:05.239
And get their perspective get them around the table and at the end of the day we want this to occur, so it's not we're we're trying to queer the deal. What we're trying to do is the relationship with council. So he will very quickly give us a staff.

53 "jspaeth@cityofutica.com" (677920768)
00:16:05.239 --> 00:16:09.750
Update on the ten or eleven contingency items.

54 "Lisa Nagle, EDR" (135667968)
00:16:09.750 --> 00:16:21.868
And so that would be 14 calendar days as 29 January if we wanted to second.

55 "jspaeth@cityofutica.com" (677920768)
00:16:21.868 --> 00:16:39.667
Any discussion my only question and again, please don't take it the wrong way, but this is a great idea that Bob brought up and everything. Why why wasn't those questions asked beforehand or they were and they didn't answer? Am I mistaken on that?

56 "Lisa Nagle, EDR" (135667968)
00:16:39.667 --> 00:16:43.307
They were asked twice and they did not answer.

57 "jspaeth@cityofutica.com" (677920768)
00:16:43.307 --> 00:17:07.459
So can I ask again and please don't take it the wrong way? Why did we move forward without them giving the answer? I mean we it seems like we just lost a month here or two months. I think Joe with all their respect they think they know they got us over a barrel because there's NO property. I just told her that we've actually we've.

58 "jspaeth@cityofutica.com" (677920768)
00:17:07.459 --> 00:17:39.919
Right, we've got a a meter that's running on an obligation so to a lender that we gotta right I'm just asking and please don't take the wrong way because I'm not really familiar with all these type of situations and you know obviously you guys know your jobs and there's gotta be a reason for it and you know it just it just seems like we we we wait. We have a meeting once or twice a month and our last meeting was November, now we're at the almost middle of January and we're just losing time, you know, that's I mean.

59 "jspaeth@cityofutica.com" (677920768)
00:17:39.919 --> 00:17:58.349
You know, now you're even saying when this happens, I asked when we're gonna start he says as soon as it's ok, but doesn't even sound like it would start till the earliest if everything went right in May, right? By the time well it can't get in the ground over there right now I know, but I'm just sure.

60 "Phil" (561491456)
00:17:58.349 --> 00:18:06.287
So what happens in 14 days if we're not satisfied with their progress?

61 "jspaeth@cityofutica.com" (677920768)
00:18:06.287 --> 00:18:32.819
Extension expires, right? That's not what your motion was. Just to be clear, your motion was just provide the status update to the contingencies to be provided by then so if they don't provide it, I would say that the resolution and the extension terminates, but the way you.

62 "jspaeth@cityofutica.com" (677920768)
00:18:32.819 --> 00:18:51.029
Stated the request it was just give us an update within 14 days and then you will have until 1 April to complete your new complete or waive your due diligence. I think to answer the question though what happens I think Bob had suggested.

63 "jspaeth@cityofutica.com" (677920768)
00:18:51.029 --> 00:19:09.524
A resolution which was that we hold a special meeting and ask them to be here present in person. And based on that meeting, will then as a body decide how to move forward. Right, that's that makes sense. That's what I would say.

64 "Phil" (561491456)
00:19:09.524 --> 00:19:16.746
So we technically wouldn't be extending to April. It would be to that meeting.

65 "jspaeth@cityofutica.com" (677920768)
00:19:16.746 --> 00:19:37.769
Well, at that meeting we'll decide whether we want to stick with the extension or you gotta make that you gotta make that decision now. If you if you want to add something that says that if they do not fulfill their responsibility to perform the condition.

66 "jspaeth@cityofutica.com" (677920768)
00:19:37.769 --> 00:19:54.809
Upon which this was predicated and and on 29 January if they have a met a criteria that that the extension is terminated, you, you can do that. But as it stands now, they will still have until April.

67 "jspaeth@cityofutica.com" (677920768)
00:19:54.809 --> 00:20:14.809
1st, what is it? April whatever it is. 1st, I think it says April. Yeah. So to to fulfill to to to continue to to have an extension and perform those diligence, we're just asking for, for an update. And you know what? The reason we're doing, the reason we're tiptoweing is because there's there's there's there's nobody else.

68 "jspaeth@cityofutica.com" (677920768)
00:20:14.809 --> 00:20:18.449
In line to take over.

69 "jspaeth@cityofutica.com" (677920768)
00:20:18.449 --> 00:20:35.099
If we have somebody else in line to take take over, then we have some leverage. But from where I sit, I don't see the leverage. Well, I mean it's hard to say we don't have anybody in line because we haven't marketed it. Understood.

70 "jspaeth@cityofutica.com" (677920768)
00:20:35.099 --> 00:20:50.459
What are we willing to? That's the question. Correct. Start over more or less. Correct. Which sets us back further. Well if we don't have the partner that's fulfilling the obligations and.

71 "jspaeth@cityofutica.com" (677920768)
00:20:50.459 --> 00:21:10.459
You know, I know there's a lot of, is this the highest and best use and it was the only response. This isn't, you know, I don't feel the holding to them. I agree and I'm not afraid of saying we'll wait till the right developer comes. You can wait for it. But I don't know, that's just me. I mean that's the other problem.

72 "jspaeth@cityofutica.com" (677920768)
00:21:10.459 --> 00:21:35.639
Question can we afford that? It's the real money issue, right? And what's what's what's what's our debt to that? How much? What was that May? No million nine is what we own. I'll let you hold it, but I'm gonna buy some crypto instead.

73 "jspaeth@cityofutica.com" (677920768)
00:21:35.639 --> 00:21:53.279
If we get that grant money, at least it gives us interest that we can play with to keep that piece going. Right. But to your knowledge, there's NO one of the ways interested or have has approached the city about the site.

74 "jspaeth@cityofutica.com" (677920768)
00:21:53.279 --> 00:22:12.539
So we'd have to really go back to the square one on marketing. We really haven't marketing yeah waiting how many years for somebody or is it gonna recycled and they're gonna come right back and we're gonna be right back where where do we got with them?

75 "jspaeth@cityofutica.com" (677920768)
00:22:12.539 --> 00:22:33.649
So this is the same thing we've dealt with for a year since I've been on the board. They come in, they're gonna buy it, they change it, they go, you know, and, you know, I I sit here open my for the longest time, I didn't really understand what was going on. Then when I started asking the questions, you know, they are the one that's there, they spent numerous.

76 "jspaeth@cityofutica.com" (677920768)
00:22:33.649 --> 00:22:53.639
Dollars in our city built stuff, you know, previous mayor I remember I opened my mouth one day and walked out and got mad because I asked the question, but there is nobody else either. They got us over to parallel perspective the frustrating issue from my perspective.

77 "jspaeth@cityofutica.com" (677920768)
00:22:53.639 --> 00:23:13.639
When we read the the contract, we said they were never gonna be able to meet these timelines. Oh yeah yeah yeah yeah we're gonna meet these timelines. We knew it was not gonna happen. They were, they were too aggressive in those timelines, but they said they weren't so you know I understand that. That's what he.

78 "jspaeth@cityofutica.com" (677920768)
00:23:13.639 --> 00:23:31.979
Yeah, I understand that that's the frustrating point we knew. But once they were gonna have several extensions based upon those. Am i wrong in saying but once we close and we have their money and they start building, we have the upper hand because we take back if they don't.

79 "jspaeth@cityofutica.com" (677920768)
00:23:31.979 --> 00:23:51.979
Get there. Am I correct at saying that? Yeah, the leverage changes, there's NO question. Right. So I mean we gotta, we're this close, I mean over you know I mean I would I agree with everything you're saying, but on the other hand, I don't want to see us walk away and then we sit there with our thought. I'm not suggesting that.

80 "jspaeth@cityofutica.com" (677920768)
00:23:51.979 --> 00:24:15.539
Yeah I'm saying what they've done because by knowing what they've done, you're gonna understand how earnest they are and moving this thing forward. That's all. I don't know these people from Adam. You guys I hear good things about mr. Patel, so I'm not here to remind him or any of his partners.

81 "jspaeth@cityofutica.com" (677920768)
00:24:15.539 --> 00:24:35.129
But I think we have a fiduciary responsibility to this organization to know where we stand, and that's the whole purpose of of of the consideration or the condition that we imposed on this potential or approved. And you're a hundred percent right?

82 "jspaeth@cityofutica.com" (677920768)
00:24:35.129 --> 00:24:50.159
Agree with you a hundred percent, but at the end of the day if they turn their backs on us and walk because we're asking too many questions and everything we're gonna close. Now we're really? Oh.

83 "jspaeth@cityofutica.com" (677920768)
00:24:50.159 --> 00:25:10.159
But if they were never gonna move forward in the 1st place yeah but they they weren't they say it we gave me the extension they guaranteed where they were gonna close or my didn't understand that either. Well, that wouldn't be another extension. What our condition is, is reason.

84 "jspaeth@cityofutica.com" (677920768)
00:25:10.159 --> 00:25:37.139
Right. And they weren't trying to do anything I think they comply, right? Just we have fortune to so right this forces them back to the table to tell us what they're doing. If we don't like the answers or it appears that they're just playing with us again and we cancel the extension. Well and when we ask them for things and they don't give it to us that body so I'd like them to be able to respond to that. So.

85 "jspaeth@cityofutica.com" (677920768)
00:25:37.139 --> 00:25:55.739
That's great. But I don't think we'd have we we'd had we had the stick in the past when we asked the question. This is carrying a little bit more correct of a ramification they've had an exclusive option for.

86 "jspaeth@cityofutica.com" (677920768)
00:25:55.739 --> 00:26:16.789
Years right. Right. And I think we need to realize what we're willing or not willing to do as far as going back to John board. You know, I don't know that that's best for the organization point, but longer than it might be the best thing to do.

87 "jspaeth@cityofutica.com" (677920768)
00:26:16.789 --> 00:26:20.339
You know, they're not compliant or.

88 "jspaeth@cityofutica.com" (677920768)
00:26:20.339 --> 00:26:38.039
I don't know, I don't know what those limits are for you know what's digestible for us, you know? Cause I know a lot of things are contingent on other things and other developments, so, and it's a few years later, so if we did market it, we might be surprised.

89 "jspaeth@cityofutica.com" (677920768)
00:26:38.039 --> 00:26:53.369
We might not be. All right, so we good on that? No, un unclear here what are you Brian, I think you were talking about a special meeting.

90 "jspaeth@cityofutica.com" (677920768)
00:26:53.369 --> 00:27:13.369
Yeah, maybe someone could restate so everybody's on the same page. Okay. And what how I understood it is that the motion Bob made was to approve contingent on a status report on any open due diligence items being provided.

91 "jspaeth@cityofutica.com" (677920768)
00:27:13.369 --> 00:27:35.309
To the chair within 14 calendar days and including what they are doing to actions taken to complete those open items. If not received, then the board will hold a special meeting to decide how to move forward. Was the intention that the.

92 "jspaeth@cityofutica.com" (677920768)
00:27:35.309 --> 00:28:04.802
If the list does come, receipt of the list is sufficient or NO? It has to be reviewed. Oh, we said we said that we wanted a detailed status report on the actions of the actions and the timeline associated with those open ended issues. So that gets submitted to Ben because that's what Allison just read. Is that good enough? Does Ben have to proactively say this is good enough?

93 "Lisa Nagle, EDR" (135667968)
00:28:04.802 --> 00:28:18.621
Special meeting to review it? I thought Bob wanted a special, we we could have a special meeting on the 29th, we could decide right now and have if it sound like Bob wanted to see that.

94 "jspaeth@cityofutica.com" (677920768)
00:28:18.621 --> 00:28:29.378
So is it a special meeting either way to review the list and then I think we need to because submission could be very long. Thank you. I was gonna say half assed, but.

95 "Lisa Nagle, EDR" (135667968)
00:28:29.378 --> 00:28:37.861
We could do, we could do a special meeting the following day so that we can review it and and help digest it with you. But we could do the plan.

96 "jspaeth@cityofutica.com" (677920768)
00:28:37.861 --> 00:29:11.511
Wednesday of the 29th? Okay. Wednesday the 29th or Thursday the 30th 29th from. What's good day for 29th is two weeks from today, right? But you want it before your special meeting though? Yeah, yeah. So we maybe Thursday the next day, so consultants can go through it. We can all go through it and then have our questions ready when we get together next day. So Thursday that Monday, the.

97 "Lisa Nagle, EDR" (135667968)
00:29:11.511 --> 00:29:14.131
27th?

98 "jspaeth@cityofutica.com" (677920768)
00:29:14.131 --> 00:29:24.480
Yeah, that's probably more. 27. Give everybody your time business days instead of 14 business.

99 "Lisa Nagle, EDR" (135667968)
00:29:24.480 --> 00:29:40.511
Do the 27th to the chair who will distribute it to the team will go through to the full board, including us and then so we have some time to digest it before the and we'll have a special meeting on the 29th.

100 "jspaeth@cityofutica.com" (677920768)
00:29:40.511 --> 00:29:59.699
Got it. Is there an extension granted until at least the 29th contingent time yeah ok so but the at the end of the day.

101 "jspaeth@cityofutica.com" (677920768)
00:29:59.699 --> 00:30:15.629
The the the contingency is receipt and review, not just receipt. So we're gonna have we're gonna have the meeting on the 2020 9th.

102 "jspaeth@cityofutica.com" (677920768)
00:30:15.629 --> 00:30:33.029
And we're gonna review their response and determine whether or not their response is satisfactory that day, that day. The 29th, right? The 29th we should have. I I we shouldn't I I would hope that if they were really gonna send Dominic at least send somebody here.

103 "jspaeth@cityofutica.com" (677920768)
00:30:33.029 --> 00:30:53.029
Did they come to your IDA? No. No, they didn't need to today. Okay, they came in December. Yeah, I believe Andy's probably in India. Yeah for the current year ago.

104 "jspaeth@cityofutica.com" (677920768)
00:30:53.029 --> 00:31:09.359
Out of the religious holiday, ok, you wanna read that back from your.

105 "jspaeth@cityofutica.com" (677920768)
00:31:09.359 --> 00:31:32.479
Yeah piecemeal it but the motion would be well technically now it would be that it is right it is extension granted until 01:29 or or maybe it's approved contingent on a status report being received and.

106 "jspaeth@cityofutica.com" (677920768)
00:31:32.479 --> 00:31:59.339
Accepted by 27 January. Could we just say 7 January and ten business or do you want to say ten business days ten calendar days? Okay. Okay, I kind of have it already. I mean, they should be able to give it to us at 24 h provided within ten calendar days of what of a detailed timeline of open due diligence items and what they are in a timeline for completion. The board will be meeting.

107 "jspaeth@cityofutica.com" (677920768)
00:31:59.339 --> 00:32:18.179
The board will hold a special meeting on Wednesday, 29 January at 04:00 P.M. to review and make a decision about moving forward for a further extension, and then do we wanna say, do you wanna require attendance would be required in that motion?

108 "jspaeth@cityofutica.com" (677920768)
00:32:18.179 --> 00:32:36.809
Or do you just want to have that be cheer motion done? Do you want us to think I think that we should require them to attend. Okay. So it's receipt review and attendance for a special meeting. And I I would just say that.

109 "jspaeth@cityofutica.com" (677920768)
00:32:36.809 --> 00:32:55.877
That the chair and council can determine what language and nomenclature they're gonna be used for purposes of this overall motion. Yeah, that's why I wanted I have like four different notes here. I will type it up for you Bob and Melanie and send it to you right after this meeting.

110 "Lisa Nagle, EDR" (135667968)
00:32:55.877 --> 00:33:09.733
And it should be ten calendar days from today because they're not gonna receive this till tomorrow, so, so with that we get it on a Monday it should be ten calendar days from 15 January 2025.

111 "jspaeth@cityofutica.com" (677920768)
00:33:09.733 --> 00:33:31.849
Would you start to say about? Yeah, I, I think Allison should, I think you were like 90 % there. I think you should restate for the members so they know what they're voting on because developer is going to question when that was passed today. So we need to be precise with the language like right now.

112 "jspaeth@cityofutica.com" (677920768)
00:33:31.849 --> 00:34:02.094
Bob, would you be better if one of you two wanted to know you gotta give me 10 min to rewrite it, ok? I think you can. Well Bob said subject to Bob rework rework has anybody said or yeah. Bob did say that you could rework it. Well, I I want to be careful reworking. I think you were closed out, but I think it will just. Give me a minute, you guys could talk amongst yourselves about something else.

113 "Lisa Nagle, EDR" (135667968)
00:34:02.094 --> 00:34:06.336
Do you want to go on to the rest of the agenda while Allison does it.

114 "jspaeth@cityofutica.com" (677920768)
00:34:06.336 --> 00:34:08.933
Thank you.

115 "Lisa Nagle, EDR" (135667968)
00:34:08.933 --> 00:34:10.695
We'll find you some time, Allison.

116 "jspaeth@cityofutica.com" (677920768)
00:34:10.695 --> 00:34:14.210
Thank you. Just writing here.

117 "Lisa Nagle, EDR" (135667968)
00:34:14.210 --> 00:34:16.333
Is that ok with the board?

118 "jspaeth@cityofutica.com" (677920768)
00:34:16.333 --> 00:34:36.649
If I could just one question with regards to this project. Where do we stand with regards to any of the grants that we've applied for funding for this This Point did we get the any pro housing? I know we were told that one last time.

119 "jspaeth@cityofutica.com" (677920768)
00:34:36.649 --> 00:34:56.451
And we're one of seven that met all the criteria. I know that I don't wanna, I don't want to brag but we got a pro housing award VCNI with regards to impact for $3.5 million. But did we receive any.

120 "Lisa Nagle, EDR" (135667968)
00:34:56.451 --> 00:34:59.491
A little bit later Bob, but, NO, they were not.

121 "jspaeth@cityofutica.com" (677920768)
00:34:59.491 --> 00:35:12.613
But yeah, we can talk more about it. Yeah. Jones chemical?

122 "Lisa Nagle, EDR" (135667968)
00:35:12.613 --> 00:35:40.545
We have been in continued touch with the Jones family and we are waiting on the grant disbursement agreement from the ESD grant, the grant that we do have to purchase that lot and Paul Paul, mostly Paul's been in close contact with the ESD to get our grant disbursement agreement signed and it's going through its final reviews. I don't know if you heard anything more today, Paul.

123 "jspaeth@cityofutica.com" (677920768)
00:35:40.545 --> 00:36:01.241
I didn't hear anything more today, but I continue to work on the, you know, the reimbursement package so that as soon as the final GDA comes from we can send out the reimbursement package, so, and we'll put pressure on them to pay as, you know, quickly, you know. Okay yeah.

124 "Lisa Nagle, EDR" (135667968)
00:36:01.241 --> 00:36:07.004
Is that, is that a reversion?

125 "jspaeth@cityofutica.com" (677920768)
00:36:07.004 --> 00:36:26.945
Yes, you're yes, ok. I think I've answered that question. That's a reimbursement grant for work the corporation's done related to Harvard, so then the corporation will have the cash in hand to pay to Jones chemical to purchase the property, is that right? Yes. Yes.

126 "Lisa Nagle, EDR" (135667968)
00:36:26.945 --> 00:36:46.424
And we are working on putting together the purchase sale agreement, so when that GDA, the grant dispersedent agreement finally gets signed, we'll be able to move quickly and get that obtained that parcel which we need for parking. That was the plan for that parcel.

127 "jspaeth@cityofutica.com" (677920768)
00:36:46.424 --> 00:36:48.707
Okay, national grid.

128 "Lisa Nagle, EDR" (135667968)
00:36:48.707 --> 00:37:05.339
No new updates here. We do continue to meet with them monthly Paul and I meet with the National Good folks. They are moving forward with their substation. We have been talking to them about setting up some screening on this substation, which is gonna be really huge.

129 "Lisa Nagle, EDR" (135667968)
00:37:05.339 --> 00:37:30.709
And, so we've been pushing some sort of aesthetics and location of that to not impede upon, you know, the work we're doing here. So they've been pretty receptive, a very receptive actually so there's nothing needing to report from that, but other than to say they've been kinda at the table here with us to keep us updated. Anything you'd add to that Paul?

130 "jspaeth@cityofutica.com" (677920768)
00:37:30.709 --> 00:37:57.749
No, I just putting everything else aside with their cleanup, which is this takes forever we just we the next thing's probably other than the screening is that some some small easements for the trail system and they recepted to that too, but I'm not sure if we've got everybody all the right people in the room here, the national grid, but at least the team we're talking to understand what we're asking for and doesn't think it's a big deal. So.

131 "jspaeth@cityofutica.com" (677920768)
00:37:57.749 --> 00:38:19.009
Okay, well, it's done, we are, you know, the only thing we've been checking on is making sure the ice heaters, the bubbler system is protecting ice around the the launch is working and it's working fantastic. I mean there's.

132 "jspaeth@cityofutica.com" (677920768)
00:38:19.009 --> 00:38:47.360
There's probably about eight 80 ft area where it's you know it's not iced up in the water, so it's working good, we're just constantly worried about handles we end up doing two of those or two of them we ended up doing two of them. Yeah. So I've been there like I keep checking on it, nobody's touched them yet, but there's footprints all around there, you know, and I don't know if it's City of Unica footprints or or you know if you don't.

133 "jspaeth@cityofutica.com" (677920768)
00:38:47.360 --> 00:39:09.860
W or whatever, doesn't sound like it, sounds like it's somebody just curious, you know, looking at it. Is there something there that somebody could break? If they unplug those it's not a good situation. No way we could call them so they can we've got it the plugs protected with a panel.

134 "jspaeth@cityofutica.com" (677920768)
00:39:09.860 --> 00:39:38.010
Through panel and say it's it's you can't just yank on the corn and unplug it, but if they decide to cut the corn to try whatever, you know, it's stupid stuff's eventually we could put it under? It's just winter use. So we just it's drunk from the iceders to be buried and so on yeah and we put like one of those protective strips across the side walking over to the plug system which is on the on the pole of what are the light. Yeah, so why don't we just bury it?

135 "jspaeth@cityofutica.com" (677920768)
00:39:38.010 --> 00:39:56.640
Well, we'd have to yeah we'd have to put a kindle under the sidewalk. So we initially, this was a new idea after we decided after we decided to pull on the sidewalk and dig under. You could, I mean I'm just saying because if they rip it, it's gonna cost us a lot of money to fix.

136 "jspaeth@cityofutica.com" (677920768)
00:39:56.640 --> 00:40:16.640
Right. If we're a little proactive on it, maybe that's something we'll look at, we can look at the other solution. I I actually think that that's Mark and I'm were going to go there daily and check on it. I might not I might be wrong. You said he was. He said he was. I called him every time I go down there. Yeah but the other day that he.

137 "jspaeth@cityofutica.com" (677920768)
00:40:16.640 --> 00:40:36.640
Down there a lot so ok ok but but yeah that would be nice if some of his guys can at least go once a week or twice a week or something, you know, maybe we'll have to council meeting we can especially not I mean they're right down the street from BPW isn't.

138 "jspaeth@cityofutica.com" (677920768)
00:40:36.640 --> 00:40:57.420
Okay the next week's gonna be important because the forecast next week is supposed to be for fridgey code right so right you know when it's the way it is right now yeah I mean now but yeah so we're not using it, right?

139 "jspaeth@cityofutica.com" (677920768)
00:40:57.420 --> 00:41:17.420
I mean nobody's kyyaking there now. No, NO NO, but the dock if the ice gets around we're actually protecting something there now We're very expensive $750000 you know, oh yeah, it's not it's not this is serious. Have you been If you've been down there?

140 "jspaeth@cityofutica.com" (677920768)
00:41:17.420 --> 00:41:51.140
I haven't seen the I've been down there a number of times, but I haven't seen them. It's a fantastic you know structure system for we are we working on scheduling a, a ribbon cutting in the spring? The mayor is finding out. We're just we're doing some takeoffs to rework the fencing but you know so that we come out in the spring this whatever can move it however they want it, you know, well, we haven't kind of a game plans to them. Okay.

141 "jspaeth@cityofutica.com" (677920768)
00:41:51.140 --> 00:41:56.089
I think I got it now.

142 "Lisa Nagle, EDR" (135667968)
00:41:56.089 --> 00:41:59.773
Let it go. Okay. All right, so.

143 "jspaeth@cityofutica.com" (677920768)
00:41:59.773 --> 00:42:29.730
The motion is to approve the due diligence period until 29 January 2025. Full extension is contingent upon a detailed status report of all open due diligence items with timeline for completion to be provided to the chair within ten calendar days of today, subject to review at a special meeting on 29 January at 04:00 P.M. for developer attendance is required. Perfect perfect. Is that good? So.

144 "Lisa Nagle, EDR" (135667968)
00:42:29.730 --> 00:42:34.212
Know what the subject to review me.

145 "jspaeth@cityofutica.com" (677920768)
00:42:34.212 --> 00:42:52.950
So he's a lawyer. Yeah he's a lawyer. Okay. Subject to review and approval. Subject to review and approval review and acceptance.

146 "jspaeth@cityofutica.com" (677920768)
00:42:52.950 --> 00:43:10.800
Review and acceptance where at the extension period would be extended until 1 April. And is, are they required to be here in person or virtually? Doesn't matter.

147 "jspaeth@cityofutica.com" (677920768)
00:43:10.800 --> 00:43:25.432
Yeah, in person, dominics local. Okay. In person. Does that mean their council or just the? I think just someone just to rep.

148 "Lisa Nagle, EDR" (135667968)
00:43:25.432 --> 00:43:28.093
Yeah.

149 "jspaeth@cityofutica.com" (677920768)
00:43:28.093 --> 00:43:34.410
Developer or the developer.

150 "jspaeth@cityofutica.com" (677920768)
00:43:34.410 --> 00:43:54.410
So it would be motion to approve due di due diligence until 29 January. Full extension is contingent upon a detailed status report of all open due diligence items with timeline for completion to be provided to the chair within ten calendar days of today. Subject to review and acceptance for for the full extension until 1 April.

151 "jspaeth@cityofutica.com" (677920768)
00:43:54.410 --> 00:44:20.390
At a special meeting on 29 January at 04:00 P.M. where developer representation attendance in person is required. Does that cover everything Bob and Melanie that you're gonna be asked? Yeah, I mean right you're making a big decision there. I'm questioning that a lot. I think that resolution captures the dialogue that I heard and.

152 "jspaeth@cityofutica.com" (677920768)
00:44:20.390 --> 00:44:50.540
If i'm wrong I assume someone would speak up. I I I want to make sure the board is aware though all of their contingencies are waivable. So what I'm I just want to make you aware their their report might say, you know, we will most likely waive this contingency however we have not made the final determination. I'm just trying to manage expectations. The agreement is so broad in one sided and buyer's favor.

153 "jspaeth@cityofutica.com" (677920768)
00:44:50.540 --> 00:45:09.660
That you may you their responses might be very vague because they can be vague. They don't have to get site plan approvals. They don't have to get subdivisions. They don't have to get ten equipment. They don't have to get financing. They can waive all of those requirements.

154 "jspaeth@cityofutica.com" (677920768)
00:45:09.660 --> 00:45:25.080
And and decide to close or decide not to close. I just want to manage everybody's expectations that the contract is very broad and very one side and the responses are subject to.

155 "jspaeth@cityofutica.com" (677920768)
00:45:25.080 --> 00:45:44.550
Whether or not we accept them but we still we still we still have leverage if in fact we believe that they're not providing the specificity that we want. And and then just to again managing everybody's expectations.

156 "jspaeth@cityofutica.com" (677920768)
00:45:44.550 --> 00:46:04.550
Right, we'll ve this to to buyer this resolution, thank you Allison for taking really good notes. And I will have to prepare a new 3rd amendment to purchase sale agreement, and just to be clear, right, they may, and I I hope they don't. They may decide not to sign it. I don't think that's I'm just saying.

157 "jspaeth@cityofutica.com" (677920768)
00:46:04.550 --> 00:46:15.030
Right, they they you know will have to present a signature page to them if they want the extension to 29 January.

158 "jspaeth@cityofutica.com" (677920768)
00:46:15.030 --> 00:46:30.360
Got a motion, we got a second, long favor. Removed.

159 "jspaeth@cityofutica.com" (677920768)
00:46:30.360 --> 00:46:50.360
Hey else is can you email me that language? Yeah I'll take you a picture of my written notes, you want to send? No, I'll give it to you tonight Bob. Yeah. Thank you. Yeah, I think we're just working on final payment, but everything's closed out. Okay.

160 "jspaeth@cityofutica.com" (677920768)
00:46:50.360 --> 00:46:55.590
Wait for their.

161 "jspaeth@cityofutica.com" (677920768)
00:46:55.590 --> 00:47:15.590
Which one, the rejection. Okay, so Bob and and a couple are familiar, the ABO, we needed to send the 90 day notice to, they rejected it and they wanted, they want us to get some type of an appraisal. Bob was gonna look at.

162 "jspaeth@cityofutica.com" (677920768)
00:47:15.590 --> 00:47:47.900
To the law to see what type of penalty could be imposed. And in the meantime I talked with the appraiser to get an appraisal and cost and timeline just so you know that, you know, it's not a done deal on the state's side. What is ABO and what are you talking about? Recall that the corporation has licensed the waterfront, you know, control access to to the city. There's NO.

163 "jspaeth@cityofutica.com" (677920768)
00:47:47.900 --> 00:48:08.120
Terminate it on that license other than the license terminates when fee title is conveyed to the city. So the city has control of waterfront. Procedurally this corporation is required by law that disposes a property if it's to a municipality to get this appraisal, ok? Number one.

164 "jspaeth@cityofutica.com" (677920768)
00:48:08.120 --> 00:48:38.040
Has NO money to pay for appraisal number two. It's almost silly because it doesn't matter if it's apparentise for hundred bucks for a hundred million dollars, right? The city's only going to pay $1 for for the waterfront and at the end of the day it's for the public benefit public access. The whole purpose is for the corporation's existence. So in the rush to get this done.

165 "jspaeth@cityofutica.com" (677920768)
00:48:38.040 --> 00:48:58.040
We opted to just send in the notice and I think the abo's half right, I mean they're right for a straight legally they're saying appraisals so as a practical matter it doesn't make any sense, but it would be the 1st law that doesn't make sense. So Jack I hope I hope our appraiser.

166 "jspaeth@cityofutica.com" (677920768)
00:48:58.040 --> 00:49:27.680
It just needs to be an independent 3rd party appraisal. It doesn't need to be all the bells and whistles. The soonest we could get that, you know, we could start the 30 day or sorry, the 90 day clock again but again the 90 clock is just to convey feet title, the city already has all the agendacies of control over the waterfall. The ABO is the authority's budgetus, so they control.

167 "jspaeth@cityofutica.com" (677920768)
00:49:27.680 --> 00:49:51.140
The authorities and have a big hand on them. Thank you. I get about a minute before I gotta leave. 17 building anything? No, I did sound though we didn't get the pro housing grant and he he told me he was still interested I said he was interested anymore? He said he was, but I don't that's me the casual conversation.

168 "jspaeth@cityofutica.com" (677920768)
00:49:51.140 --> 00:50:08.790
So I don't know if the board, you know, wants to It seems like sales should, I don't think we wanna get into the same thing we're dealing with now gun to our house, so I think we either has to commit or not. Right. So maybe I'll send him a lot or tell them, you know.

169 "jspaeth@cityofutica.com" (677920768)
00:50:08.790 --> 00:50:28.790
I don't know Withdrawnica's interest or Yeah I don't know how you had worked yeah sorry we didn't get the grant. Are you so interested? Right, but we don't want him to say and I'm like we are the situation.

170 "jspaeth@cityofutica.com" (677920768)
00:50:28.790 --> 00:50:44.550
Is this we just have a verbal understanding then do we have any any document or documentation where we give them an option or? Correct me if I'm wrong, we put out a request for expression of interest and he replied. Yes.

171 "jspaeth@cityofutica.com" (677920768)
00:50:44.550 --> 00:51:04.550
So we just have an expression of interest that he's he's interested in the property. We don't have an actual offer. There was NO money preferred contract, nothing legal beyond that in place. Yeah, did we ever did the board ever do any resolution relative to I don't remember. He game Namingham is preferred developer? Yeah, I don't believe gone that far, wasn't there any other interested parties.

172 "jspaeth@cityofutica.com" (677920768)
00:51:04.550 --> 00:51:30.052
My point is that I think at some point in time we have to determine what we have left to market and develop a marketing plan, right? That's really it. That's it. The 1933, the 1917 and DSA one. Okay. Well, that's enough. I don't know that MBT would agree.

173 "Lisa Nagle, EDR" (135667968)
00:51:30.052 --> 00:51:38.270
What should we, should we ask sales intention so that we can get an update to this board in February and and determine what the next steps are?

174 "jspaeth@cityofutica.com" (677920768)
00:51:38.270 --> 00:51:52.612
Yeah, I think that'd be good. Were you gonna invite MVG though to february? Do you want them both here or do you wanted separate meetings both? You don't have to be in the room at the same time. Yes true. Right.

175 "jspaeth@cityofutica.com" (677920768)
00:51:55.933 --> 00:52:11.610
Mr. is the only way he's got to do that though is be an executive session because it's an open meeting. But That's discussing real estate matters, yeah. All righty.

176 "Lisa Nagle, EDR" (135667968)
00:52:11.610 --> 00:52:18.990
Well, just on MVG, Soley garden, there was a, a.

177 "Lisa Nagle, EDR" (135667968)
00:52:18.990 --> 00:52:38.990
There is a, a Dasney award, a dermatory authority of state of New York award that's coming to make improvements to portions of the harbor, primarily around where Rob Esh wants to build the new build, not not not the not the 1933 building. And so we were talking.

178 "Lisa Nagle, EDR" (135667968)
00:52:38.990 --> 00:52:54.710
This morning and we'd like to have I can share my screen, maybe, maybe not window. Here we go. Let's see if this works, share. Can you guys see my window screen?

179 "jspaeth@cityofutica.com" (677920768)
00:52:54.710 --> 00:52:56.131
Yeah. Yes.

180 "Lisa Nagle, EDR" (135667968)
00:52:56.131 --> 00:53:27.440
Yeah. So, the idea is that Rob wants, this is the 1933 building, here's the harbor. Here's the prominad. The new build is gonna happen over here in what we're calling lot one, so lot one two which have not been subdivided to him yet, the, the Harbor development. You guys still own all this land. They, what we haven't spoken with Robin some time in terms of his intentions and what his plans are. Excuse me, so we were gonna have him come into the February meeting and update this board.

181 "Lisa Nagle, EDR" (135667968)
00:53:27.440 --> 00:53:32.333
What the plans are for development on this in this area.

182 "jspaeth@cityofutica.com" (677920768)
00:53:32.333 --> 00:53:50.160
So when you say you said there was a grant from Dasney. What does that grant do for this site? So it's and you know I would have to give MBG credit, they did the lobbying for dancy grant. The dancy Grant is going to.

183 "jspaeth@cityofutica.com" (677920768)
00:53:50.160 --> 00:54:13.134
Not this board, this. But the intention right now, the plans for that dollars to be implementing basically ground improvement, to improve the ground, allow building construction. Yeah, I overshaded this thing because it's it's showing lot three this, shading should stop here.

184 "Lisa Nagle, EDR" (135667968)
00:54:13.134 --> 00:54:16.912
This is the most recent one I have Paul, but yeah, it's just really here.

185 "jspaeth@cityofutica.com" (677920768)
00:54:16.912 --> 00:54:22.033
Yeah, yeah, it's a lot, then revise lot one and lot two.

186 "Lisa Nagle, EDR" (135667968)
00:54:22.033 --> 00:54:23.594
Yeah. These two.

187 "jspaeth@cityofutica.com" (677920768)
00:54:23.594 --> 00:54:38.700
Yeah most you want to do that? It's, it's basically, you know, I say well NO it would be all to build it's not too different from what was presented prior.

188 "jspaeth@cityofutica.com" (677920768)
00:54:38.700 --> 00:54:58.700
I think instead of one restaurant, it could be multiple restaurants and it might be some mixed use in that building, you know, and, and, one of those restaurants would also, you know, if the 33 building becomes a, the event center, could be the place where you know.

189 "jspaeth@cityofutica.com" (677920768)
00:54:58.700 --> 00:55:24.630
Service and everything comes out of, you know, to even forward. How far along is your 33 building Anyway? 33 waiting, we're trying to get the flood resiliency money to raise the floors, you know, raise the whole flood thing. Yeah, yeah. So that that we didn't get the pro housing grants so now we're, we're looking at there's a new grant coming up for for flood resiliency with bindeck money.

190 "jspaeth@cityofutica.com" (677920768)
00:55:24.630 --> 00:55:44.630
Say we're gonna go after that. And that isn't a hundred year fuzzle right there, right? Yep. So how much how much is the grant that was that we receive from 1.5 million because it's all getting mitigated dollars. Okay. So, so do we do we have any formal.

191 "jspaeth@cityofutica.com" (677920768)
00:55:44.630 --> 00:56:02.871
Agreement with with Rod's group with regards to stable letter intent and agreement What's what's the relationship that we have with regards to that particular lot with lot failure. So that we did do preferred development part.

192 "Lisa Nagle, EDR" (135667968)
00:56:02.871 --> 00:56:20.332
He responded to request for expresses of interest for this whole area and it has been some time. That's why we wanted to come back in, but I'd have to look back at the resolution specifically Bob, but he is the preferred developer for this area.

193 "jspaeth@cityofutica.com" (677920768)
00:56:20.332 --> 00:56:36.510
Okay. Is it is it is his development of that preferred parcel contingent upon what funding for the 1933 are they separate and distinct proposals? Are they one of the same or are they separate and distinct?

194 "jspaeth@cityofutica.com" (677920768)
00:56:36.510 --> 00:56:56.510
They've become separate and distinct and he's just they have decided to move forward irregardless of what happens. They could move forward in a new build. Yeah. So that's a separate and distinct transaction.

195 "jspaeth@cityofutica.com" (677920768)
00:56:56.510 --> 00:57:16.050
So are there any monies potentially allocated by the city if in fact they're awarded the the next round of DRI for purposes of anything at the harbor? In the mayor's DRI presentation.

196 "jspaeth@cityofutica.com" (677920768)
00:57:16.050 --> 00:57:31.260
To the regional staff, there were Harbor projects discussed. It's not finalized. That wouldn't be finalized until the DRI is awarded and there's a consultant team in place and we go through a planning process. But.

197 "jspaeth@cityofutica.com" (677920768)
00:57:31.260 --> 00:57:51.779
None of the projects that we mentioned involved the 33 building. There was some docking I think in with regards to this this nothing with regard to the 33 building or the 1917 building, but with regards to the Parcel 33. Yeah.

198 "Lisa Nagle, EDR" (135667968)
00:57:51.779 --> 00:57:57.708
This adjacent. That's the designee award will go within the presentation.

199 "jspaeth@cityofutica.com" (677920768)
00:57:57.708 --> 00:58:16.745
Yeah, that's again that could be subject to change. It is. Yeah. When does that money get decided? When does that money get decided? When the governor decides to, you know, follow up, come out to Yudica and get a photo off meet our illustrious mayor and.

200 "Lisa Nagle, EDR" (135667968)
00:58:16.745 --> 00:58:24.100
And even from then, it will not be It'll be about a year and a half from today.

201 "jspaeth@cityofutica.com" (677920768)
00:58:24.100 --> 00:58:31.407
A year and a half from today for what? Yeah. Before we get the money and projects which where we know.

202 "Lisa Nagle, EDR" (135667968)
00:58:31.407 --> 00:58:36.961
There's DRI money awarded to what whichever projects the state decides.

203 "jspaeth@cityofutica.com" (677920768)
00:58:36.961 --> 00:58:53.320
They're having problems trying to fund the laminated checks. But the other thing though that Paul mentioned this morning is that the next couple of months.

204 "Lisa Nagle, EDR" (135667968)
00:58:53.320 --> 00:59:07.300
And it could be that we could get resiliency flood proofing resiliency money for the 33 building through the Bond act. And that's been a big that's that's one of the big holdups because that's it's expensive and but it needs to be done.

205 "jspaeth@cityofutica.com" (677920768)
00:59:07.300 --> 00:59:37.430
Yeah, the Bondex money's in place. It's the mechanism, it's the various grants to access the money, but that that one resiliency grant will be announced, will be finalized within probably a month. So yeah, the one will go after you know I think that so how how much how much money is needed in order to raise the floors and make it the 1933 viable for purposes of what Rob is seeking to do. Yeah.

206 "jspaeth@cityofutica.com" (677920768)
00:59:37.430 --> 01:00:02.600
Say $250000 or something. No. That's probably a million is to do the floors plus the the you know at least get the change the electrical mechanical, you know, create a, a spot where they would be raised up and up to avoid the flooding and everything. I did too. Yeah, so million.

207 "jspaeth@cityofutica.com" (677920768)
01:00:02.600 --> 01:00:22.600
Because he's not in this location and he is not stipulated where he was so that the public could go to his location. What? Yeah, that's right, I forgot it. Obviously I wasn't when you guys structured this.

208 "jspaeth@cityofutica.com" (677920768)
01:00:22.600 --> 01:00:51.291
What is his timetable now? He wants it as a result of Dasney funding? Yeah MVG, they are intent and you know, so the public money is coming in, the Dasney money will be, you know, be putting the ground this construction season. He, they want to be out in construction early 26th in this in the early spring 26th so that's their, that's their plan. And the acquisition price that we negotiated for this person?

209 "Lisa Nagle, EDR" (135667968)
01:00:51.291 --> 01:00:55.070
67735?

210 "jspaeth@cityofutica.com" (677920768)
01:00:55.070 --> 01:01:23.669
Yeah, but then it's prorated based, gotta be prorated based on 33 out of there, right? So was I don't know yeah so it's something less keep in mind, as long as these grant dollars are going to this body, we have to maintain can control site control so we can't sell it. I'm just trying to bring myself up to speed. Can't sell it to the fall say late or 07:35 with both parcels you were saying. Don't.

211 "Lisa Nagle, EDR" (135667968)
01:01:23.669 --> 01:01:26.427
You're the whole thing, yeah, right.

212 "jspaeth@cityofutica.com" (677920768)
01:01:26.427 --> 01:01:42.010
You gotta be it's gonna be prorated because that 7th whatever 50, whatever it was also included 33 parcels, so you gotta prorate it for just those other parcels except for I overshaded.

213 "Lisa Nagle, EDR" (135667968)
01:01:42.010 --> 01:01:44.888
Follow out there you go.

214 "jspaeth@cityofutica.com" (677920768)
01:01:44.888 --> 01:02:03.900
Thanks for reminding anyone I just like that. If this if this entire all the parcels are are sold whether you sell, Rob, and we we essentially.

215 "jspaeth@cityofutica.com" (677920768)
01:02:03.900 --> 01:02:22.050
Least back the prominent right back to the city. The only thing that we would have is the underlying ownership to the prominent. No, we're selling the prominent to the city. We're. So we would have, we would own nothing, nothing. We don't know why it's on the other side.

216 "jspaeth@cityofutica.com" (677920768)
01:02:22.050 --> 01:02:42.050
Yeah, so the next yeah the phase, the next phase for the LDC the attention turns to the 400 car parking lot.

217 "jspaeth@cityofutica.com" (677920768)
01:02:42.050 --> 01:03:04.200
Yeah, Jones chemical, there's gonna be a big parking lot there. We need that and then the attention turns to the National grid site and the trail system and the ped bridge, and you know whatever there's still a lot beyond these these prominent these lots around the barborg. Yeah. SD Canal Corp grants.

218 "jspaeth@cityofutica.com" (677920768)
01:03:04.200 --> 01:03:24.200
Yeah, so we didn't get pro housing if we talked about you want to update? Yeah, I had a discussion with Andy Marzo from Nipa last week. He's confident there was an attorney at Nipa that was tasked with putting together the grant agreement for the $2 million.

219 "jspaeth@cityofutica.com" (677920768)
01:03:24.200 --> 01:03:44.200
That had been discussed last year. He was, that attorney was out for an extended period of time getting married over the holidays. He however, Andy was confident that we would have a grant agreement for that $2 million by the end of this month, and he and I also set up monthly progress conference calls.

220 "jspaeth@cityofutica.com" (677920768)
01:03:44.200 --> 01:04:02.220
It will begin in February. This enlightening as to what the grants can be used for. We have proposed a variety of different yeah you want to run through? Yeah, so the three, three parts that a boat launch figures gone, but a boat launch on their side.

221 "jspaeth@cityofutica.com" (677920768)
01:04:02.220 --> 01:04:17.970
The re restoration the old steam crane for exhibit and then the trail that goes around DSA one and then the pet bridge that would take that over to Mohawk and connect to the canalway Trail So it's a really nice.

222 "jspaeth@cityofutica.com" (677920768)
01:04:17.970 --> 01:04:33.900
Set of work. Now that that is a city grant. So the city's setting up financing and everything for that so whereas the dancing grant will be LBC grant. And you envision the implementation phase to start one this year and be done this year?

223 "jspaeth@cityofutica.com" (677920768)
01:04:33.900 --> 01:04:53.900
That's a spring summer project and be done. Okay. God willing. That's, that's a that's a great insulating. Did did we ever deal with the lock issue that the lock is broken with with Canalco.

224 "jspaeth@cityofutica.com" (677920768)
01:04:53.900 --> 01:05:14.480
Kinda. Yes, they want to see us focus on activating the hardware and not rely on the lock being fixed. It will at some point it is on their list and they'll get to it eventually, but we.

225 "jspaeth@cityofutica.com" (677920768)
01:05:14.480 --> 01:05:34.480
We shouldn't be relying on that. They told us it was a very good meeting with them out here at where they said they don't disagree with the lock being reopened. They they like our idea with right sizing the lock making it smaller for smaller cracks. We don't have to dredge as much. They like all that. It's just that that.

226 "jspaeth@cityofutica.com" (677920768)
01:05:34.480 --> 01:05:54.480
They wanted that step two. They want it to be active before that makes sense. And the mayor's fully on board with that change and Yeah as long as eventually that lot gets opened up because that's the absence we want. And they did say which was really good was that they they feel Utilica's is still a very important part of the canal system and part of the.

227 "jspaeth@cityofutica.com" (677920768)
01:05:54.480 --> 01:06:13.789
The 2050 recreational way plan, which, you know, we were yeah the 2050 yeah well they're right they're right in the 2050 vision right now, you know, you know. That's fine. Thank you. Yeah. CFA?

228 "Lisa Nagle, EDR" (135667968)
01:06:13.789 --> 01:06:17.310
Right, yeah.

229 "jspaeth@cityofutica.com" (677920768)
01:06:17.310 --> 01:06:55.865
Yeah, I don't I think I think we pretty much talked about everything. I don't know what will go next round of CFA I'm sure we'll go after something but that's not clear yet. Yeah. All right, the one changed to the meetings is 29th 04:00 here, right? Yeah. So we'll send out a notice anything else, any issues? Is there any way we can have some kind of a celebration at that part when it's our 215th anniversary can now. I don't know.

230 "Lisa Nagle, EDR" (135667968)
01:06:55.865 --> 01:07:00.190
It sounds like the mayor's planning on some type of event in the.

231 "jspaeth@cityofutica.com" (677920768)
01:07:00.190 --> 01:07:24.900
Screen right? Yeah, and I we had met with albany's symphony. They came out, they're looking to do a 4 July on our about concert, and the mayor, they met with us on site in December, the mayor asked me to reach out last week and I did, and the the executive director of the symphony got back to me and said let's set up another meeting and continue talks about planning, so. Okay.

232 "jspaeth@cityofutica.com" (677920768)
01:07:24.900 --> 01:07:37.850
Yeah. So we can't. Second, otherwise. Until the 20.