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02/21/2013: Meeting of the Directors

02/21/2013: Meeting of the Directors

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02/21/2013: Meeting of the Directors of the New York State Urban Development Corporation d/b/a Empire State Development (New York, NY) 9:30 a.m.
02/21/2013: Meeting of the Directors of the New York State Urban Development Corporation d/b/a Empire State Development (New York, NY) 9:30 a.m.

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Published by: Empire State Development on Apr 26, 2013
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DRAFT – SUBJECT TO REVIEW AND REVISION
1
NEW YORK STATE URBAN DEVELOPMENT CORPORATION
d/b/a Empire State DevelopmentMeeting of the DirectorsNew York City Regional Office633 Third Avenue37
th
Floor Conference RoomNew York, New York 10017andBuffalo Regional Office95 Perry Street, Suite 500Buffalo, New York 14203January 17, 2013
MINUTESIn AttendanceDirectors:
Kenneth Adams
 
(Acting Chair)Derrick Cephas
 
Paul CiminelliRobert DysonKathryn Diaz – Designee for Superintendent – Departmentof Financial Services
Present for ESD:
Justin Ginsburgh, Chief of Staff Robert Godley, TreasurerEdwin Lee, Assistant Vice President – Loans and GrantsSheri Lippowitsch, Vice President – Loans and GrantsEileen McEvoy, Corporate SecretaryKathleen Mize, Deputy CFO and ControllerSusan Shaffer, Vice President – Loans and GrantsRobin Stout, Senior CounselSimon Wynn, Senior CounselFrances A. Walton, Chief Financial and Administrative Officer
For Western New York:
Steve Gawlik, Vice President – Capital Projects and SeniorCounselSam Hoyt, PresidentTom Dee, President – Erie Canal Harbor Development CorporationRobert Gioia, Chairman – Erie Canal Harbor DevelopmentCorporationChristina Orsi, Director - Western New York Regional Office
 
DRAFT – SUBJECT TO REVIEW AND REVISION
2
Also Present:
James Fayle, Director – Central New York Regional OfficeRoseanne Murphy, Director – North County Regional OfficeKenneth Tompkins, Director – Mohawk Valley Regional OfficeDavid J. Wright, Assistant Commissioner, Albany
Also Present:
The PressThe MediaThe meeting of the Directors of the New York State Urban Development Corporation(“UDC”) d/b/a Empire State Development (“ESD” or the “Corporation”) was called to order at9:07 a.m. by Acting Chair Adams. It was noted for the record that the time and place of themeeting had been given in compliance with the New York State Open Meetings Law.Next, Acting Chair Adams set forth the guidelines regarding comments by the public onmatters on the Agenda.Acting Chair Adams then asked the Directors to approve the Minutes of the December20, 2012 Directors’ meeting. There being no changes or corrections, upon motion duly madeand seconded, the following resolution was unanimously adopted:APPROVAL OF MINUTES AND RATIFICATION OF ACTIONS TAKEN AT THE DECEMBER 20,2012 MEETING OF THE DIRECTORS OF THE NEW YORK STATE URBAN DEVELOPMENTCORPORATIONRESOLVED, that the Minutes of the meeting of the Corporation held on December 20, 2012, aspresented to this meeting, are hereby approved and all actions taken by the Directorspresented at such meeting as set forth in such Minutes, are hereby in all respects ratified andapproved as actions of the Corporation.
 
DRAFT – SUBJECT TO REVIEW AND REVISION
3* * *The Acting Chair then asked Mr. Lee to present a summary of the Discretionary Projectitems on the Agenda. The Acting Chair explained that following this brief presentation, hewould call upon the individual Regional Directors or their representatives to present theprojects from their region.Mr. Lee noted that the Directors will be asked to approve three Economic DevelopmentFund Grants totaling $2,100,000; one Restore New York grant for $500,000; and one RegionalCouncil Awards grant for $3,000,000.Mr. Lee added that these projects will leverage over $21,000,000 of additionalinvestments and will assist in retaining 180 jobs and in creating approximately 50 jobs in NewYork State.Following Mr. Lee’s full summary, Ms. Orsi presented the Unifrax EDF Capital grant itemfor the Directors’ consideration. Among other things, Ms. Orsi noted that Unifrax is amanufacturer of insulation products used in high temperature industrial automotive and otherapplications.Ms. Orsi further explained that this $1.5 million EDF grant is part of a total $13 millioninvestment to expand the Unifrax facility in Tonawanda and to add new machinery andequipment.

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