Meeting of the Syracuse Industrial Development Agency will start with a roll call of the board.

I'm Kathy Murphy.

Ricky Brown.

Thank you, Dirk.

Ken Kinsey, who is also a member of the board is not able to join us this morning.

Proof of notice was proper properly served, and we have one public hearing scheduled for this morning on Gateway Syracuse.

We will begin the hearing with a reading of the notice by Sue.

Yeah.

Good morning, everyone.

Notice is hereby given that a public hearing pursuant to Section 859A of the New York General Municipal Law will be held by the City of Syracuse Industrial Development Agency on the 29th day of July at 8 a.m.

It will be held at 233 East Washington Street in the Common Council Chambers of City Hall, Syracuse, New York, in connection with the following matter.

GW Syracuse LLC or an entity to be formed requested the agency undertake a project consisting of the acquisition of an interest in five parcels of land located at 706 to 08 East Washington Street, 712 to 716 East Washington Street, 705 East Fayette Street, 709 East Fayette Street, and 701 to 03 East Fayette Street, aggregating an approximately 1.3 acres of land in total, such parcels to be re-subdivided, the demolition of all three existing structures, cleanup and remediation of contaminated soil on the land, the construction of a seven-story, approximately three hundred and forty-six thousand square foot mixed-use building containing approximately two hundred and eighty-three residential units, including approximately ninety-six one-bedroom units, one hundred and two two-bedroom units, four three-bedroom units, nineteen four-bedroom units, and sixty-two studios, of which 12% of the residential units will be designated and reserved for tenants meeting the income requirements, all in accordance with the City of Syracuse's zoning ordinance.

Good morning, James Trash, your engineer for the applicant from CHA Consulting.

Who did a great job doing my entire presentation and what we are doing?

I figured Brian Bouchard wrote that because he run he goes in a lot more detail than I do, you know.

So scenario is uh Alman Fayette, Washington uh proposed project.

We have been in front of the uh uh planning commission for approvals based on modifications as we are going into the building permit set.

There are a few doors and window modifications along the street front uh to accommodate our change in uh unit makeup from what was initially approved with the planning commission.

So parking on site, um seven-story building uh as uh read in the notice.

Uh it is part of a brownfield cleanup program.

So we are working through that with a New York State DEC.

Um so once we get through the culmination of that process, um, we're trying to match the approvals with the city planning commission permits and then the the benefits that we're seeking from you all so we can start construction and uh deliver this building in 2028 is our goal.

So uh any questions questions comments for James Thank you.

Anyone else wishing to speak in favor of this project?

Please come forward, state your name and address for the record.

Anyone wishing to speak in opposition?

Hearing none, the hearing is closed.

Next item on our agenda are the minutes approval of the minutes of our last board of directors meeting held July 15th.

The minutes were included in our packet.

I would accept the motion to accept the minute.

I'll make a motion.

Motion made by Ricky.

Second, Steve.

Thank you.

Any changes, comments, concerns?

All in favor, please say aye.

Opposed, abstention.

Motion carries, yes.

Um, I would note also, as Dirk said, we held a finance committee meeting on July 22nd and reviewed the gateway project in great detail, and the finance committee did recommend a positive recommendation for consideration by this board.

The minutes will be included in our next round of information and packet.

First item, GW Syracuse.

Good morning.

Before I start on the resolutions, I would just ask those folks who came in a little bit later.

Will you please make sure you sign in in the back so that we can include you in the minutes?

Thank you.

Um, the first matter um on the agenda with respect to the GW Syracuse project.

I won't repeat um the project outline as we just heard it in the public hearing, but the first resolution is your inducement resolution.

I would like to note for the record that seeker was completed by the city planning commission.

They notified us of their intent to act as lead agency.

We did not object to that, and we adopt their finding, which is that the project will not have a significant environmental impact.

Um so they issued a negative declaration.

The inducement resolution authorizes the undertaking of this project.

It helps to fulfill the need created by the housing uh shortage that the city is um experiencing.

It appoints the company as your agent for purposes of undertaking the um project.

It authorizes the execution and delivery of the agency agreement attached to the resolution, which is your standard agreement between the board and the uh project developer during the intervening time between the time you authorize the project and the time it closes.

It authorizes state and local sales and use tax exemption in an amount not to exceed 3,886,400 and mortgage recording tax exemption in the approximate amount of $642,000.

I will note as you heard in the um public hearing that the project does include uh set aside units for those meeting the income requirements under the zoning ordinance.

Um, and other than that that sums up the inducement resolution.

Any questions, comments?

Hearing none, is there a motion?