Troy public meetings in 2021
24 substantive meetings from 2021, with official agendas or minutes and plain-English summaries.
Troy Capital Resource Corporation
The Board of Directors reviewed the draft budget for 2022-2025 and the statement of financial position as of September 30, 2021. The meeting included a report on upcoming projects in the Rensselaer County IDA pipeline.
- Approval of the 2022-2025 budget
- Review of $509,476 in total assets and $499,476 in cash
- Discussion of a $1,500 annual fee for bond accounting/staff services
- Report on a 20-year PILOT project at 5th and Federal
- Report on an apartment project on Cemetery Road in Lansingburgh
Troy Capital Resource Corporation
The board reviewed financial statements showing total assets of $511,688.48 as of August 31, 2021. Members discussed a $300,000 transfer to a money market savings account and a budget draft for 2022.
- Approval of financial position showing $511,688.48 in assets
- Report of a $47,190.74 deficit due to a grant payment to the Arts Center of the Capital Region
- Discussion of $300,000 moved into a money market savings account
- 2022 Budget Draft projecting $4,600 in total revenues and $100,000 in total expenditures
Troy Capital Resource Corporation
The board reviewed financial statements and discussed a potential working capital loan for the Troy LDC to assist with cash flow. The meeting also included the approval of previous minutes and financial reports.
- Discussion of a potential $100,000 working capital loan to the Troy LDC
- Report of total assets at $558,859.22 as of July 31, 2021
- Approval of July 16, 2021 board meeting minutes
Troy Capital Resource Corporation
The Board of Directors will meet to review financial reports and committee updates. The primary item for discussion is a working capital loan for the Local Development Corporation.
- Discussion of Local Development Corporation working capital loan
Troy Industrial Development Authority
The Board of Directors reviewed financial statements showing $419,281 in total assets. Discussions included status updates on the Kings Landing II and Riverwalk projects, as well as the termination of PILOT agreements for the Flanigan Building and Uncle Sam Garage.
- Flanigan Building and Uncle Sam Garage PILOTs terminated
- Kings Landing II project undergoing planning commission process
- Riverwalk project delayed due to City reverter release issues
- Total assets reported at $419,281 as of June 30, 2021
- Executive session held to discuss real estate negotiations
Troy Capital Resource Corporation
The board is updating its administrative fee schedule for bond financing and reviewing funding for community projects. Decisions include approving a design budget for a shared waterfront trail and a grant for a local concert series.
- Increased bond application fee from $2,500 to $5,000
- Approved up to $19,500 for the design of a shared waterfront trail along First Avenue
- Approved $5,000 grant to the Friends of 112th Street for the Powers Park concert series
- Established new bond refinancing fees: 0.50% for the first $10 million and 0.25% above that
- Reported total assets of $514,571 as of May 31, 2021
Troy Industrial Development Authority
The Troy Industrial Development Authority approved an increase in the application fee for PILOTs and mortgage recording tax transactions. The board also reviewed financial statements showing total assets of $421,211 as of May 31, 2021.
- Application fee increase to $5,000 for PILOTs and Mortgage Recording Tax
- Sales tax application fees remain at $2,500
- Total assets reported at $421,211 as of May 31, 2021
- Fund balance reported at $413,149
Troy Capital Resource Corporation
The Board of Directors is meeting to review financial reports and administrative fees. The agenda includes discussions on funding for 1st Avenue Project construction documents and the Powers Park Concert Series.
- Funding for 1st Avenue Project construction documents
- Powers Park Concert Series – Friends of 112th Street
- Administrative Fee
- Governance Committee report
Troy Industrial Development Authority
The Troy Industrial Development Authority will meet to discuss administrative fees, governance committee reports, and financials. The agenda includes reports from the Executive Director and the Governance Committee.
- Administrative Fee discussion
- Governance Committee Report
- Executive Director's Report
- Financials review
Troy Capital Resource Corporation
The Troy Capital Resource Corporation Governance Committee is meeting to review specific organizational policies. The discussion focuses on internal governance and operational guidelines.
- Review of Governance Committee Charter
- Review of CRC Fee Policy
- Review of Whistle Blower Policy
Troy Industrial Development Authority
The Governance Committee is meeting to review the IDA's internal policies and procedures. The discussion focuses on the committee's charter and specific agency policies.
- Review of Governance Committee Charter
- Review of IDA Fee Policy
- Review of Whistle Blower Policy
Troy Capital Resource Corporation
The board is meeting to discuss and authorize resolutions regarding bond funding for Rensselaer Polytechnic Institute and the Troy IDA. The session includes reviews of financial statements and the Executive Director's report.
- Authorizing resolution for RPI Bond refunding up to $27,500,000
- Loan authorizing resolution for Troy IDA Bond
- Sponsorship of $1,500 for Downtown Troy BID’s Annual Sammy Awards
- Financial report showing total assets of $559,333 as of March 31, 2021
- Appointment of Stephanie Fitch, Susan Farrell, and Elbert Watson to the Governance Committee
Troy Industrial Development Authority
The Troy Industrial Development Authority is discussing a $10,000 loan from the Troy Capital Resource Corporation to issue a preservation bond. This action is intended to ensure the authority remains active while awaiting state-level legislative updates to its enabling statute.
- Proposed $10,000 loan from Troy CRC for a Revenue Bond (Preservation Bond), Series 2021
- Appointment of Stephanie Fitch, Susan Farrell, and Elbert Watson to the Governance Committee
- Financial report showing total assets of $663,704 and a fund balance of $430,591 as of March 31, 2021
- Discussion of ongoing projects: City Station North, DeFazio’s, 669 River Street, and Riverwalk
Troy Capital Resource Corporation
The board is discussing an initial resolution to issue up to $27.5 million in revenue refunding bonds for Rensselaer Polytechnic Institute. The meeting also includes reports on financials and the executive director's activities.
- Proposed issuance of up to $27,500,000 in revenue refunding bonds for Rensselaer Polytechnic Institute
- Proposed mortgage recording tax exemption for the RPI bonds
- Authorization of a public hearing regarding the RPI project financing
- Approval of $30,000 in COVID funding for the Troy LDC
- Approval of $10,000 for the Neighborhood Improvement Program (NIP)
Troy Industrial Development Authority
The Board of Directors will discuss the 2021 PARIS Review Committee Report and matters related to the Governance Committee. The meeting includes reports from the Executive Director and a review of current financials.
- 2021 PARIS Review Committee Report
- Governance Committee charter and updates
- Executive Director's report
- Financial reports
Troy Capital Resource Corporation
The Audit & Finance Committee is meeting to approve previous meeting minutes and receive a presentation on the 2020 audit from Wojeski & Co., CPAs.
- 2020 Audit Presentation by Wojeski & Co., CPAs
- Approval of February 19, 2021 meeting minutes
Troy Capital Resource Corporation
The Board of Directors met to discuss funding requests and annual administrative resolutions. The body approved a contract for trail design in Lansingburgh and reviewed the corporation's financial position.
- Approved $11,000 to hire Alta Planning for conceptual design of the Riverwalk project from 111th Street to 123rd Street
- Accepted the Annual Audit for Fiscal Year 2020 prepared by Wojeski & Company CPAs, PC
- Reported total assets of $570,295 as of January 31, 2021
- Ratified appointment of Stephen Strichman as Executive Director and CEO and Denee Zeigler as Acting Secretary
- Discussed funding requests for the LDC 2021 Summer COVID Grant and City Clerk Neighborhood Improvement Program
Troy Industrial Development Authority
The Audit & Finance Committee is meeting to approve previous minutes and receive a presentation on the 2020 audit from Wojeski & Co., CPAs.
- 2020 Audit Presentation by Wojeski & Co., CPAs
- Approval of February 19, 2021 minutes
Troy Industrial Development Authority
The Troy Industrial Development Authority will conduct its annual meeting to elect officers and review procedures, audits, and the PARIS report. The board will also review financial statements and the Executive Director's report.
- Election of officers and review of procedures
- Review of Audit and PARIS Report
- Review of financial statements
- Executive Director's report
Troy Capital Resource Corporation
The Board of Directors met to approve funding for the Riverwalk project and conduct annual administrative resolutions. The body is focusing on connecting waterfront trails and parks in Lansingburgh to the Empire State Trail system.
- Approved $11,000 to hire Alta Planning for conceptual design of the Riverwalk project from 111th Street to 123rd Street
- Accepted the Annual Audit for Fiscal Year 2020 prepared by Wojeski & Company CPAs, PC
- Approved financial statements showing total assets of $570,295 as of January 31, 2021
- Ratified appointment of Stephen Strichman as Executive Director and CEO and Denee Zeigler as Acting Secretary
- Approved the budget for fiscal year ending December 31, 2021 and proposed budgets through 2024
Troy Industrial Development Authority
The Audit & Finance Committee reviewed the 2021 budget and discussed project expenditures. The board also received an update on a mixed-use development project at 701 River Street.
- Approval of the 2021 IDA Budget
- Discussion of $61,000 expenditure for wayfinding signage
- Estimated income of $200,000 from closing projects in 2021
- Update on a commercial and apartment project at 701 River Street
Troy Capital Resource Corporation
The Audit & Finance Committee met to discuss the preliminary 2020 audit with Wojeski & Co., CPAs. The committee also reviewed a draft budget that includes a $60,000 line item for grants.
- Preliminary 2020 Audit Discussion – Wojeski & Co., CPAs
- $60,000 grant line item in draft budget
- Budget discussion regarding RPI Bond refinance and Franklin Alley project
Troy Capital Resource Corporation
The Troy Capital Resource Corporation approved funding for the Riverwalk trail project to include site drilling and engineering studies. The board also authorized a $10,000 expenditure to support the Troy Waterfront Farmers Market's relocation to Lansingburgh.
- $50,000 authorization for the Riverwalk Project including core drillings and construction documents
- $15,000 grant to CDTA for intersection redesign related to the Riverwalk
- $10,000 expenditure for the Troy Waterfront Farmers Market winter location in Lansingburgh
- Approval of $6,500 for site drilling as part of the Riverwalk project
Troy Industrial Development Authority
The Troy Industrial Development Authority is reviewing a project to renovate a six-story structure at 750 Second Avenue into multi-tenanted commercial space. The body is discussing providing sales and use tax exemptions, mortgage recording tax exemptions, and a partial real property tax abatement via a PILOT agreement.
- Public hearing and authorizing resolution for Lion Factory Commerce, LLC at 750 Second Avenue
- Application for sales tax exemptions for Clark House LLC
- Proposed 30-year PILOT for Lion Factory Commerce, LLC
- Discussion of potential increases to the IDA application fee
- Financial report showing total assets of $464,000 as of November 30, 2020