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NEW YORK STATE PUBLIC AUTHORITIES CONTROL BOARD

NOTICE OF A MEETING AND AGENDA




TO: Assemblyman Sheldon Silver July 9, 2014
Senator John A. DeFrancisco
Assemblyman Joseph M. Giglio
Senator Bill Perkins

FROM: Assistant Secretary Patrick Bender for Chair Robert Megna

NOTICE OF MEETING

A regular meeting of the New York State Public Authorities Control Board will be
held in Room 131 of the State Capitol, Albany, New York, at 2:00 p.m. Wednesday,
July 16, 2014.

AGENDA

1. Roll Call
2. Minutes of the J un 18, 2014 Meeting
3. Resolutions


Empire State Development Corporation

Property Acquisition & Disposition

14-UD-1351
Authorization for ESDC to acquire and dispose of State-owned Real Property known as
The Downstate Distribution Center. The property is located on 13 acres in the Town
of Islip (Suffolk County) and was formerly known as the NYC Asylum for the Insane and
then became known as the Central Islip Psychiatric Center. ESDC will acquire the
Property for no consideration from the State of New York and convey to April Holdings
LLC for $5 million. After deductions for broker and other fees and expenses, the
balance of proceeds will be transferred to the Office of General Services for transfer to
the Mental Health Reinvestment Fund.

Grants

14-UD-1352
Approving grants via the Buffalo Regional Innovation Cluster
Project Name Amount
1 Fort Schuyler Management Corporation/Information
Technologies Innovation and Commercialization Hub
Capital (Erie County)
$55,000,000
2 Fort Schuyler Management Corporation/RiverBend 107,000,000
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Park Capital (Erie County)
3 SUNY Research Foundation Advanced Manufacturing
Capital (Erie County)
30,000,000
GRAND TOTAL $192,000,000

14-UD-1353
Approving grants via the Economic Development Fund
Project Name Amount
1 JM Haley Capital (Suffolk County) $200,000
2 Optimax Systems Capital (Wayne County) 100,000
GRAND TOTAL $300,000

14-UD-1354
Approving grants via the Regional Council Capital Fund
Project Name Amount
1 ATTAIN Capital (Albany County) $375,000
2 Buffalo Streetscapes Capital (Erie County) 2,000,000
3 Clayton Harbor Hotel Capital (Jefferson County) 3,000,000
4 Gowandas Historic Hollywood Theater Capital
(Cattaraugus County)
166,667
5 Hamilton County Broadband Phase II (Hamilton
County)
1,700,000
6 Jefferson County Watertown International Airport
(Jefferson County)
1,500,000
7 Midtown Tower Capital (Monroe County) 4,000,000
8 Health Sciences Center for Computational Innovation
Capital (Monroe County)
5,000,000
GRAND TOTAL $17,741,667

14-UD-1355
Approving grants via the Local Assistance Special Appropriation Fund
Hurricane Irene
Project Name Amount
1 Delaware County Hurricane Irene Flood Mitigation
1
$0
2 Hamilton County Hurricane Irene Flood Mitigation $324,379
GRAND TOTAL $324,379

14-UD-1356
Approving a grant via the Local Assistance Special Appropriation Fund
Homeland Security
Project Name Amount
1 Delaware County Hurricane Irene Flood Mitigation
1
$0
GRAND TOTAL $0


1 These grants were approved by the ESD Directors on February 20, 2014. The subject request is to
revise the project scope and reallocate a portion of the grants. This does not involve new funding.
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14-UD-1357
Approving grants via the New York Works Program
Project Name Amount
1 Allegany County Broadband (Allegany County) $800,000
2 Newport Broadband (Hamilton & Herkimer Counties) $572,000
GRAND TOTAL $1,372,000

14-UD-1358
Approving a grant via the Upstate Regional Blueprint Fund
Project Name Amount
1 Midtown Tower URB (Monroe County) $1,200,000
GRAND TOTAL $1,200,000

Job Development Authority

14-JD-506
JDA Real Estate Loan
Project Name Amount
1 Merola Sales Company, Inc. (Suffolk County) $3,000,000
GRAND TOTAL $3,000,000

Dormitory Authority

Loans

14-DA-1122O
Approving a loan of $5,350,000 via the Tax-Exempt Equipment Leasing Program I to
finance the acquisition and installation of equipment for United Health Services
Hospitals, Inc. (Broome County)

Environmental Facilities Corporation

Loans

14-EF-624
Approving State Clean Water Revolving Fund - Direct and Market Rate Financing
Projects in an aggregate amount of $4,428,341 as follows:

SHORT-TERM DIRECT/MARKET RATE FINANCINGS:
Applicant County
Short-Term Financing
Maximum Principal
Amount
Interest
Rate
Kiryas Joel (V) Orange $327,516 0%
Kiryas Joel (V) Orange $327,516 4%

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LONG-TERM DIRECT FINANCINGS:
Applicant County
Long-Term Financing
Maximum Principal
Amount
Interest
Rate
Brocton (V) Chautauqua $1,541,422 0%
Sackets Harbor (V) Jefferson $2,231,887 0%

14-EF-625
Approving a State Drinking Water Revolving Fund - Direct Financing Project as
follows:

LONG-TERM DIRECT FINANCING:
Applicant County
Short-Term Financing
Maximum Principal
Amount
Interest
Rate
Franklin (V) Delaware $190,130 0%


14-EF-626
Approving a State Clean Water Revolving Fund - Direct and Market Rate Financing
to the New York State Thruway Authority (Rockland and Westchester Counties) for
financing of costs associated with the planning, design and construction of certain water
quality related components associated with the New NY Bridge (NNYB) Project which
have been determined to be eligible for assistance from the CWSRF. The water quality
related elements of the Project are consistent with the recommendations for
implementation of the United States Environmental Protection Agency (USEPA)
approved New York New Jersey Harbor & Estuary Comprehensive Conservation and
Management Plan (CCMP) of 1996, including the 2009 Comprehensive Restoration
Plan, and the 2011 Action Plan. This short-term financing is in the amount of
$255,725,000 at an interest rate of 0% and an equal amount, $255,725,000, at an
interest rate not to exceed 4%.

Maturity Extensions

14-EF-569B
Amending PACB Resolution No. 12-EF-569 previously approved on May 16, 2012 for
State Water Pollution Control Revolving Fund Direct and Market Rate Financing
Projects in order to extend the maturity of the financing to the Village of Lawrence
(Nassau County) (with no change in authorized short term amount of $12,484,568) by an
additional two (2) years to December 24, 2016.

Housing Finance Agency

Affordable Housing (AH) Revenue Bonds

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14-HF-534
Issuance of fixed rate taxable bonds or fixed-rate, tax-exempt in an amount not to
exceed $14,300,000 on behalf of 188 Warburton Avenue Apartments for financing the
new construction of 51 units of affordable housing to be located at 188 Warburton
Avenue, Yonkers, Westchester County; secured by a mortgage loan to 188 Warburton
Limited Partnership or another, single asset entity controlled by The Community
Builders, Inc. and the Municipal Housing Authority of the City of Yonkers, a for profit
subsidiary of the Municipal Housing Authority of the City of Yonkers; Total Development
Cost of $26,307,319; Security is provided by one or more credit enhancement facilities
and after project stabilization, by a SONYMA mortgage insurance policy during the
permanent loan period; 26 of the units are expected to be set aside for tenants with
incomes at or below 60% of the Area Medium Income for the Westchester County
Statutory Exception adjusted for family size ("AMI"), 13 of the units will be set aside for
households with incomes at or below 50% of the AMI, and 12 of the units will be set
aside for households with incomes at or below 30% of the AMI ; bonds and loan will
amortize over not more than 40 years; achieving at least a rating of A.

14-HF-535
Issuance of fixed rate taxable bonds or fixed-rate, tax-exempt in an amount not to
exceed $15,015,000 on behalf of ArtsBridge Senior Apartments for financing the new
construction of 62 units of senior affordable housing to be located at 1450 Plimpton
Avenue, Bronx (Bronx County); secured by a mortgage loan to Plimpton 1450, L.P. or
another, single asset entity controlled by Highbridge Community Housing Development
Fund Corporation; Total Development Cost of $26,739,581; Security is provided by one
or more credit enhancement facilities and after project stabilization, by a SONYMA
mortgage insurance policy during the permanent loan period; all of the revenue
generating units, or 61 units, are expected to be set aside for tenants with incomes at or
below 50% of the Area Medium Income for the New York, NY HUD Metro FMR AREA,
adjusted for family size; bonds and loan will amortize over not more than 40 years;
achieving at least a rating of A.

14-HF-536
Issuance of fixed rate taxable bonds or fixed-rate, tax-exempt in an amount not to
exceed $19,795,000 on behalf of Brighton Towers for financing the rehabilitation of
596 units of Section 236 Mitchell-Lama senior affordable housing located at 821 East
Brighton Avenue, City of Syracuse, Onondaga County; secured by a mortgage loan to
Brighton Towers Redevelopment LLC, or another single asset entity controlled by the
Syracuse Senior Citizens Project Corporation; Total Development Cost of $37,087,557;
Security is provided by one or more credit enhancement facilities and after project
stabilization, by a SONYMA mortgage insurance policy during the permanent loan
period; Approximately 85% of the revenue generating units, or 506 units, will be set
aside for households whose incomes at or below 60% of the Area Medium Income,
adjusted for family size for the Syracuse Metropolitan Statistical Area; bonds and loan
will amortize over not more than 40 years; achieving at least a rating of A.


NEXT REGULAR MEETING August 20, 2014 2:00 p.m. Capitol Room 131

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Any individual with a disability requiring
special accommodation should contact:
Shoaib Syed (518) 473-1526