3/25/24 IDA Board Meeting

The Ontario County IDA Board Meeting held on March 25, 2024, focused primarily on administrative and financial matters related to ongoing projects and agency operations. Key procurement-related discussions included the approval of a settlement agreement, consent for a subordinate mortgage on the Cabbage Patch Lane project tied to an IDA deal, and the engagement of Fixed Base Operator (FBO) services at the airport through an RFP process. The board reviewed and accepted the annual report highlighting $5.46 million in PILOT revenue and $356 million in leveraged private investment across 54 active projects. The financial audit presented a clean opinion with no material weaknesses, noting a surplus of $287,000 for the IDA and ongoing financial challenges at the airport, which required a $400,000 fund transfer to support operations. Motions were passed to accept various reports, including the annual report, board survey, audited financial statements, and airport report. The meeting also addressed officer and committee assignments and minor procedural matters, with no new economic assistance or benefits requested in relation to the mortgage consent.