HomeMy WebLinkAboutMN-IURAED-2021-04-13Approved: 5/11/21
108 E. Green St.
Ithaca, NY 14850
(607) 274-6565
MEETING MINUTES
ITHACA URBAN RENEWAL AGENCY
Economic Development Committee (EDC)
3:30 P.M., Tuesday, April 13, 2021
Present: Chris Proulx, Chair; Leslie Ackerman; Doug Dylla, Vice‐Chair; Charlie Hamilton
Excused: None.
Vacancies: 2
Staff: Nels Bohn; Charles Pyott
Guests: Lincoln Morse, Ithaca Waterworks/Waterfront Alchemy, LLC
I. Call to Order
Chair Proulx called the meeting to order at 3:31 P.M.
II. Agenda Additions/Deletions
None.
III. Public Comments (3‐min. max.)
None.
IV. Review of Meeting Minutes: March 9, 2021
Dylla moved, seconded by Ackerman, to approve the minutes, with no modifications.
Carried Unanimously: 4‐0
V. HUD Entitlement Program
A. Review of 2021 Economic Development Funding Applications Received (cont.)
Bohn explained the IURA Board has now concluded both sessions of its Public Hearing to review 2021 HUD
Entitlement Program funding application presentations. After this Committee conducted its first review of
Economic Development applications and produced its initial funding recommendations, the Neighborhood
Investment Committee (NIC) both reviewed the EDC recommendations and conducted its own review of
all funding applications, resulting in the NIC’s draft Action Plan chart (inserted below).
IURA EDC Meeting Minutes
April 13, 2021
Page 2 of 7
Bohn added that he communicated to NIC the Committee’s concerns with the Buffalo Street Books (BSB)
application and BSB’s ability to create a permanent employment position. NIC ultimately decided to fund
the project with $15,000. While it did not discuss the application in great detail, it believed it should at
least partially fund it, to retain the independent bookstore in the community. The Committee now has the
opportunity to change its initial funding recommendations, if it chooses. The IURA Board would then make
its final funding decisions, based on both committees’ recommendations.
IURA EDC Meeting Minutes
April 13, 2021
Page 3 of 7
B. Committee Recommendations to IURA
Bohn noted BSB indicated it would accept partial funding, but the question remains whether it would
create a Full‐Time Equivalent (FTE) job, with only $15,000 in funding; otherwise, it would not be an eligible
activity.
Ackerman remarked she would certainly like to support the bookstore, but the application was somewhat
undeveloped. It is not clear it really represents a genuine path to financial solvency, regardless of the
amount of any IURA funding award.
Bohn noted it would be more prudent to either fully fund the project to give BSB the best chance to make
it work, or not fund it all. He is uncertain that partial funding could ensure a Full‐Time Equivalent (FTE)
position would be created on a sustainable long‐term basis. He added BSB has, however, been able to
improve its financial outlook recently, which is worth noting. If the IURA chose to award the funding as a
loan, it would be unlikely to be repaid, but it would require further analysis. At this time, the Committee
may choose to reconsider the allocations for other projects and determine how much, if anything, would
remain to award BSB.
Proulx asked if anyone present is a member/owner of the bookstore. Bohn and Hamilton indicated they
are.
Proulx agreed it would be better to either fully fund the project, or not fund it at all.
Dylla wondered if what the Committee discussed at its last meeting, about offering technical assistance
consulting services to BSB to develop a more robust financial plan, remains an option. Bohn replied, it is
not an eligible use, so it could not be incorporated into the Action Plan. It is conceivable, however, the
IURA could use some its administrative/planning funds for that purpose, although the IURA expends most
of those funds for staffing. CARES Act funds (CDBG‐CV) could also potentially be used, if available.
Dylla remarked he would prefer to have a qualified third‐party conduct a comprehensive financial analysis
of BSB, which could then present the IURA with several well‐developed potential funding options.
Ackerman asked where the $15,000 would be allocated, if the IURA does not fund the project. The simple
solution would seem to be to fully fund the other Economic Development projects.
Proulx observed there does not appear to be much enthusiasm from Committee members for NIC’s
recommendation to fund the project at $15,000. The question now becomes whether to allocate the
$15,000 to other Economic Development projects, or allow the IURA Board to allocate it.
Dylla suggested using the $15,000 to increase the Economic Development Loan Fund (ED‐LF), since it is
currently low on funds.
IURA EDC Meeting Minutes
April 13, 2021
Page 4 of 7
Bohn reported IURA staff recently calculated there should in fact be ~$160,000 in loan repayments in
PY2021‐22, not the $90,000 listed in the first draft of the Funding Applications Chart, but those funds
would not be received and available until the end of the year; so the IURA could certainly benefit from the
additional $15,000 for the loan fund.
Proulx remarked he is comfortable with the amounts currently allocated in the NIC’s draft Action Plan to
ReUse Job Training for Career Pathways and Hospitality Employment Training Program (HETP).
Ackerman asked if Bohn anticipates issuing new loans over the coming year. Bohn replied, it is difficult to
predict. He has spoken with a number of potential applicants; and Deputy Director for Economic
Development, Tom Knipe, has been working with some other potential applicants. The Small‐Scale
Manufacturing Initiative may also result in new IURA loan applicants.
Dylla reiterated he would like to see the $15,000 go towards the loan fund. Hamilton and Ackerman
agreed.
Proulx indicated he would present the Committee’s final recommendations to the IURA Board.
VI. Inlet Island Urban Renewal Project: Responses to Request for Expressions of Interest (RFEI)
A. Review Process for Review & Public Engagement │ Refine Evaluation Criteria
Ackerman recused herself from the upcoming discussion, since her employer, Ithaca Neighborhood
Housing Services (INHS), is partnering with Finger Lakes Development on its proposal.
(Ackerman departed at 3:55 p.m.)
Proulx explained the Committee now needs to finalize the review process and Evaluation Criteria, as well
as structure the public engagement process. He suggested using the Committee’s May 11th meeting to
hear all the applicants’ presentations (with time‐limits) and listen to any public comments. It will be
important to incorporate as much public comment and stakeholder input into the process, before
Common Council takes any action.
Bohn noted the process should ideally result in Common Council’s approval being reasonably likely,
without requiring the applicants to invest too much time and money before then. Common Council would
also decide whether to convey the City’s portion of the site to the IURA.
Proulx indicated the fastest process would be for the May 11th meeting to include hearing from all
applicants, listening to any Public Comments, and debating the merits of each proposal using the
Evaluation Criteria. The Committee’s recommendation would then be communicated to the IURA Board,
which would conduct its own review and convey its final decision to the Planning & Economic
Development Committee (PEDC) of Common Council. By the end of June 2021, it should be apparent if
general consensus on the chosen project has been achieved.
IURA EDC Meeting Minutes
April 13, 2021
Page 5 of 7
Bohn added that Common Council would also hold its own Public Hearing on the process, as another
opportunity for public comment.
Hamilton and Dylla both agreed the process should be as short as possible.
Bohn remarked, since there may end up being a certain amount of back‐and‐forth between the applicants
and the Committee, should any questions be raised, the Committee may want to be prepared to adjust its
schedule accordingly. There are several fairly open‐ended components in the applications that could
require more time to address.
Proulx wondered if the Committee should follow the Green Street Garage model and select the top two
ranked projects. Bohn replied he personally envisioned selecting only one project, in this case. Otherwise,
it could be difficult to read Common Council’s decision; however, all applications and Committee
discussions would be shared with Common Council.
Proulx added the Committee should probably invite Common Council members to the May 11th meeting to
obtain preliminary feedback.
The Committee then discussed the Evaluation Criteria.
Bohn explained the Evaluation Criteria should be similar to those employed for the Green Street Garage,
listed below. The Committee should now finalize the scoring system.
IURA EDC Meeting Minutes
April 13, 2021
Page 6 of 7
Dylla asked if it would make sense to include the use of appropriate building and cladding materials as part
of the selection process. Bohn replied, at this point, the projects are not that fully developed. Inlet Island
is also subject to the recently adopted architectural design standards for the West End.
Proulx suggested removing the “Developer Qualifications and Experience” criterion and reallocate its 15%
weight score to the other criteria (e.g., 30%, 30%, 20%, 20%). No objections were raised.
IURA EDC Meeting Minutes
April 13, 2021
Page 7 of 7
VII. Other/Old Business
A. Staff Report
Bohn reported the Green Street Garage project is moving forward. The Western Section (Vecino Group
New York, LLC) is within 3 weeks of obtaining its financing, after which construction would begin. The
Eastern Section is finalizing the lease terms for the City parking agreement. Finalizing the hotel parking
agreement, on the other hand, may take more time.
Bohn reported the City will be awarded more funding through The American Rescue Plan Act of 2021 (ARP)
to address COVID‐19‐related issues, including $1.2M in HOME Investment Partnerships Program (HOME)
funds that could be earmarked for the acquisition of hotels for use as Single‐Room Occupancy (SRO)
housing or emergency homeless shelters.
Bohn reported the City’s Deputy Director for Economic Development, Tom Knipe, is actively involved in the
Small‐Scale Manufacturing Initiative, in collaboration with the Downtown Ithaca Alliance (DIA) and Cornell
University. The Committee should expect Knipe to present a report on the initiative at a future meeting.
VIII. Adjournment
The meeting was adjourned by consensus at 4:31 P.M.
— END —
Minutes prepared by C. Pyott, edited by N. Bohn.