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HomeMy WebLinkAboutMN-IURAGOV-2025-10-17108 E. Green St. Ithaca, NY 14850 (607) 274-6565 MEETING MINUTES ITHACA URBAN RENEWAL AGENCY GOVERNANCE COMMITTEE (GC) 9:00 A.M., Friday, October 17, 2025 Common Council Chambers, Third Floor 108 E. Green St. (City Hall) │ Ithaca, NY 14850 Present: Kathy Schlather, Chairperson; Donna Fleming, Vice-Chairperson; Ellen McCollister Excused: Susan Cummings; George McGonigal Vacancy: 1 Staff: Nels Bohn; Charles Pyott [virtual] Guests: None I. Call to Order Chairperson Schlather called the meeting to order at 9:08 A.M. II. Agenda Additions/Deletions None. III. Verbal/Written Public Comments None. IV. Review of Meeting Minutes: July 25th, 2025 Fleming moved, seconded by McCollister to approve the meeting minutes, with no modifications. Carried Unanimously: 3-0 V. New Business: IURA Budget A. IURA Bank Account Analysis — Report Bohn explained that the cash analysis is completed annually in August. He reviewed the source of funds and purpose for each account and noted that the funds in the “Non CDBG (#05)” fund are from revenues earned by the IURA, which are under local control and cannot be used for loans or grants. The account is used for expenses that do not have a designated account and that will be reimbursed. Approved/Adopted: 1/16/26 Governance Committee October 17, 2025 Page 2 of 8 2 B. Historical Wage Adjustments & CPI Comparison — Review Bohn explained that the IURA wages are in line with CPI and with the City’s current salaries. Governance Committee October 17, 2025 Page 3 of 8 3 C. City-IURA Collaboration — Report Governance Committee October 17, 2025 Page 4 of 8 4 Bohn explained that the IURA adopted a resolution on a City-IURA collaboration opportunity, and the City and IURA staff are working on a Memorandum of Understanding for joint projects. D. 2025 Budget-to-Actual Analysis — Report Bohn explained that E. 2026 IURA Administrative Budget Bohn said that the IURA budget-to-actual is in line with last year’s budget in terms of expenses. He stated that, as of August 2025, revenues, although not part of the adopted budget, are at 67% of the estimated revenue, and he predicts a $60,000 shortfall. He noted that the expense portion of the budget is less than a one percent increase and includes a 3% salary increase. Governance Committee October 17, 2025 Page 5 of 8 5 Fleming moved, seconded by Schlather: 2026 IURA Budget WHEREAS, the IURA desires to annually adopt an administrative budget to guide expenditures and manage financial resources of the IURA, and WHEREAS, New York State law governing public authorities requires submission of a proposed budget 60 days prior to the start of the next fiscal year, and WHEREAS, the IURA budget is due to be submitted to the New York State Authorities Budget Office (ABO) by November 1st of each year, and WHEREAS, the IURA Governance Committee reviewed this matter at their October 17, 2025 meeting and recommended the following; now, therefore, be it RESOLVED, that the IURA hereby adopts the FY2026 IURA Administrative Budget, dated 10/17/25. Carried Unanimously: 3-0 Governance Committee October 17, 2025 Page 6 of 8 6 VI. Other Business A. Annual Review of IURA Mission Statement Bohn explained that the IURA is required to submit a Mission Statement to the Public Authorities Budget Office annually. He noted that there is no change in the statement as presented. McCollister moved, seconded by Fleming: Annual Review of IURA Mission Statement WHEREAS, the Ithaca Urban Renewal Agency (IURA) adopted the following amended mission statement in 2023 to better incorporate concepts of equity and sustainability in its mission: The Ithaca Urban Renewal Agency secures and manages resources to improve the social, physical and economic characteristics of the City of Ithaca by expanding access to quality affordable housing, strengthening neighborhoods and the local economy, and supporting other community development activities. The IURA strives to carry out its mission in an equitable and sustainable manner, and to build and maintain an inclusive community with the input of the people and organizations we serve. And, WHEREAS, Public Authorities Law requires authorities, such as the IURA, to conduct annual review of its mission statement and post its mission statement on its website, and WHEREAS, at their October 17, 2025 meeting, the IURA Governance Committee reviewed the mission statement and recommended the following action; now, therefore be it RESOLVED, that the IURA hereby re-affirms the existing IURA mission statement: The Ithaca Urban Renewal Agency secures and manages resources to improve the social, physical and economic characteristics of the City of Ithaca by expanding access to quality affordable housing, strengthening neighborhoods and the local economy, and supporting other community development activities. The IURA strives to carry out its mission in an equitable and sustainable manner, and to build and maintain an inclusive community with the input of the people and organizations we serve. Carried Unanimously: 3-0 B. IURA Board Annual Self-Evaluation Form – Review Bohn explained that the Public Authorities Law requires an annual self-evaluation to be submitted. Committee members discussed the complexity of the form as written and improvements that could be considered in the future. Governance Committee October 17, 2025 Page 7 of 8 7 C. Review of IURA Financials: August 2025 Bohn walked through the Grants Summary and explained that the left-hand “On Schedule” column calls out any projects that are not on schedule and may need attention. The vast majority of projects Governance Committee October 17, 2025 Page 8 of 8 8 have been progressing well in terms of expenditures and project completion. Bohn reported that all Loan Payments and Lease Payments are current as of today. D. Staff Report None. VII. Adjournment The meeting was adjourned by consensus at 10:17 A.M. — END — Minutes prepared by S. Dean, edited by C. Pyott/N. Bohn.