The Industrial Development Agency (IDA) and Peekskill Facilities Development Corporation (PFDC) held a joint meeting on January 27, 2026, at 7:05 PM. The IDA meeting closed at 8:20 PM, followed by the PFDC meeting. Key agenda items included financial reports, a marketing proposal for Destination Peekskill, and a PILOT application for 901 Main Street (Treadway project). The board accepted the application with conditions and scheduled a public hearing.
Yeah. Okay, good. Okay, uh welcome to the Peak Steel Industrial Development Deliver Industrial Development Agency meeting Tuesday, January 27, 2026. It is now 705. I think I'm gonna just start with the IDA meeting and um then when we get to the PFKI, we'll open up the other meeting. Um so uh we're waiting for one of our members to show up. So um we're let's not do the minutes, um, but we'll go right into the uh PIDA financial report. So Abby. Thank you, Deborah. All right, good evening, everyone. So I'm gonna run through our summaries of revenue and expenditure for the PIDA as of December 31st, 2025. Um from a revenues perspective for the year, we earned 49,634. And these were related to administrative fees we earned for the courtyard LLC bond modification earlier in 2025. That was about 19,000, and we had 30,000 closer to the end of the year for the treadway pilot project. So that's what makes up the application and administrative fee. Next for the year, we earned about $23,850 between our four bank accounts and interest. That's a big improvement. Yeah, it was very big improvement. So that's um interest earnings. Next for appropriated fund balance. So this line item is used to for monies we've allocated for specific projects or specific use. As we're moving money from our savings account to our operating account to cover those activities. That's what this appropriated fund balance line is highlighting. So for the year, um, we moved $90,000 to cover both um the kitchen incubator project spending and also just general operating spending for PIDA. So that's where that $90,000 comes from. And we have an audit trail of as how we were moving the money from the savings to the checking or operating account. So that's what makes up that line item. The next item is our rental of real property. We earned um we got paid um $38,800 for the year. So that makes up our revenue. So in total, we had $202,000. But keep in mind 90,000 of that was just money in our fund balance that we moved for um expenses. So going through our expenditure now, um, so starting with our personnel services, we paid, I'm gonna explain this a little bit. So Matthew agreed stipend is $13,000. He got paid $13,000 in 2025. However, we noted we realized that half of that money because we paid in twice, we did two separate payments, one middle of the year and one end of the year. The half of that payment was made through the city's account. So we're gonna reimburse the city. And the other half came out of our PIDA bank account. So that's why it says 6,005 now. You will see that um correct. Not correct that, but we will send um City of Peak Steel a check by the end of you'll see by the by our next meeting. So that's what that is. Um we spent about 216 in postage. For professional services, we spent in total 77,000. And if you look at the bottom, the note three breaks down where those monies went. So rookie LLC got about 44,000 of that. Our legal council got about 22,000 of that. There was a 10,000 check we give to the city of Pixgill to support the highest and best use case study for Louisa and South Street DPW garage. So that's where 10,000 is coming from.