Utica Industrial Development Agency

Regular Meeting – Wednesday, September 11, 2024 @ 9:00am

Utica City Hall, Utica, New York and via WebEx

1. Call to Order
2. Approval of Minutes (August 21, 2024)
3. Old Business
   A. People First – AMP 1 – Consider a final authorizing resolution relating to the People First AMP 1, LLC Facility, providing final approval for financial assistance in the form of exemptions from sales tax (valued at $7,875,000), exemptions from mortgage recording tax (valued at $195,000.00) and reduction of real property tax for a period of 30 years during which time the Company will pay an annual PILOT Payment of 3.5% of Effective Gross Income (valued at $45,096,251), which financial assistance is a deviation from the Agency’s Uniform Tax Exemption Policy, and authorizing the form and execution of related documents, subject to counsel approval,
   B. HP Preservation LLC - Consider subordination of leasehold interest.
4. New Business
   A. People First – Impact Cornhill LLC – Consider an inducement resolution relating to the People First Impact Cornhill LLC Facility, in support of a request for financial assistance in the form of a reduction of real property tax for a period of 30 years during which time the Company will pay an annual PILOT Payment of 8.0% of Effective Gross Income (valued at $8,247,484), which financial assistance is a deviation from the Agency’s Uniform Tax Exemption Policy and authorizing the Agency to conduct a public hearing.
   B. People First – Impact Cornhill LLC – Consider a SEQR resolution
5. Executive Session (if required)
6. Adjourn

Members of the public may listen to the meeting by calling

 1-408-418-9388, Access code:       2634 439 4102     or joining the meeting at Meeting link: https://cityofutica.webex.com/cityofutica/j.php?MTID=m7326ba26b4da18a9bf772e206720a1de

Meeting password:     UEujK3C5RB4

The Minutes of the Agency meeting will be transcribed and posted on the UIDA website.