1 state of new jersey 2 new jersey commerce & economic growth commission
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| 4 application requested.
5 MR. MOORE: Since start, each 6 application requested -- 7 MS. FOROSISKY: Without regard to 8 age -- oh, yes. 9 MR. MOORE: Says age -- 10 MS. FOROSISKY: Oh, yes. They're 11 illegal individual, not a minor, except where 12 prohibited by law. 13 MR. DiGIORGIO: They wouldn't be 14 able to transact -- 15 MS. FOROSISKY: Like a minor 16 couldn't, you know, couldn't enter into a 17 trans -- that's all that meant -- as prescribed 18 by law. 19 MR. MOORE: Okay. 20 CHAIRWOMAN KUBE: Okay. 21 Any other questions, concerns? 22 Hearing none, all in favor please 23 signify by saying "aye." 24 AUTHORITY MEMBERS: Aye. 25 CHAIRWOMAN KUBE: Any opposed? Any GUY J. RENZI & ASSOCIATES 109
1 abstentions? 2 Motion carried. 3 The next agenda item is 1,584,000 4 for Economic Development Loan to Gus Hionas & 5 Nicholas Isihos. 6 MR. DiGIORGIO: Thank you. 7 These three requests are going to be 8 funded through our Second Generation which occur 9 from the repayment of First and Second Generation 10 loans. 11 The first request for $1.584 million 12 is for permanent loan, end loan financing for a 13 restaurant/diner project to be located on South 14 Delsea Drive. The project total cost is $5.083 15 million. We have a bank providing -- actually, 16 the name of the bank is the Bank providing 17 construction and permanent financing of $2.737 18 million, UEZ funding 1.584 and the Borough's 19 injecting 50 percent of the project. 20 The plan here is to demolish an 21 existing structure and construct a 10,000 square 22 foot upscale restaurant/diner facility, includes 23 seating for approximately 250 patrons. The 24 property is right now an eye sore on South Delsea 25 Drive adjacent to our retail centers and these GUY J. RENZI & ASSOCIATES 110
1 folks are stepping up to the plate to create a 2 nice eating establishment and an improved ratable 3 for the City of Vineland. They'll be creating 4 jobs. Obviously, they eliminated a stalled 5 project because the place has just been sitting 6 there and it's in disrepair. 7 CHAIRWOMAN KUBE: Thank you, Frank. 8 May have I have a motion, please? 9 MS. PEARSON: So moved. 10 CHAIRWOMAN KUBE: Motion by 11 Ms. Pearson. 12 Second? 13 MR. HURD: Second. 14 CHAIRWOMAN KUBE: Second by 15 Mr. Hurd. 16 Any questions, comments or concerns? 17 Hearing none, all in favor please 18 signify by saying "aye." 19 AUTHORITY MEMBERS: Aye. 20 CHAIRWOMAN KUBE: Any opposed? Any 21 abstentions? 22 MR. ABELAR: I will abstain. 23 CHAIRWOMAN KUBE: One abstention 24 from Mr. Abelar. 25 Motion carried. GUY J. RENZI & ASSOCIATES 111
1 Next agenda item is 310,050 for 2 Economic Development Loan to Allied Specialty 3 Foods, Inc. 4 Frank? 5 MR. DiGIORGIO: Yeah, Allied 6 Specialty Foods, the folks that own and operate 7 this company recently purchased -- when I say 8 recently within the last year and-a-half or so 9 have purchased this company from a previous owner 10 who located Allied Steaks from Philadelphia to 11 Vineland. And part of this company is owned by 12 an investment group out of Chicago. And they 13 stayed in Vineland because of the initial 14 financing we provided to them. 15 They are coming back now for a 16 secondary request. They are -- purchased some 17 additional equipment for an additional line as 18 well, and they're also making some office and 19 manufacturing space improvements. It's a very 20 old building. Total project cost is a million 21 thirty-three five hundred. We are funding 22 310,050 of the project. 23 Obviously, the benefits to Vineland 24 will be an increased real estate tax ratable, 25 maintaining the existing jobs and potential GUY J. RENZI & ASSOCIATES 112
1 increase of new jobs with the new equipment. 2 CHAIRWOMAN KUBE: Thank you, Frank. 3 May I have a motion, please? 4 MR. HURD: So moved. 5 CHAIRWOMAN KUBE: Motion by 6 Mr. Hurd. 7 Second? 8 MS. PEARSON: Second. 9 CHAIRWOMAN KUBE: Second by 10 Ms. Pearson. 11 Any questions, comments or concerns? 12 Hearing none, all in favor please 13 signify by saying "aye." 14 AUTHORITY MEMBERS: Aye. 15 CHAIRWOMAN KUBE: Any opposed? Any 16 abstentions? 17 MR. ABELAR: I will abstain. 18 CHAIRWOMAN KUBE: One abstention by 19 Mr. Abelar. 20 Motion carries. 21 Last item is $67,500 for Economic 22 Development Loan to Vineland Construction 23 Company. 24 Frank? 25 MR. DiGIORGIO: This loan is for GUY J. RENZI & ASSOCIATES 113
1 $67,500 which will be utilized -- actually, has 2 been utiliz -- will be utilized. The company's 3 already completed the improvements at this point. 4 Commercial term loan for improvements to a 5 commercial facility located in our downtown area. 6 The project was a former florist who 7 had sold, and the property was kind of 8 dilapidated. And they have renovated the 9 facility and have leased it to a company called 10 Colonial Electric Supply. And our part of the 11 project 67,500, the total cost is $150,000. 12 We're assisting a property owner with 13 improvements of real estate which will increase 14 our real estate tax ratable and allow us for new 15 business located in the Urban Enterprise Zone and 16 generate some sales tax. 17 CHAIRWOMAN KUBE: Thank you, Frank. 18 Motion, please? 19 MR. HURD: So moved. 20 CHAIRWOMAN KUBE: Motion by 21 Mr. Hurd. 22 Second? 23 MS. KREIPKE: Second. 24 MS. PEARSON: Second. 25 CHAIRWOMAN KUBE: Second by GUY J. RENZI & ASSOCIATES 114
1 Ms. Kreipke. 2 Any questions, comments or concerns? 3 Hearing none, all in favor please 4 signify by saying "aye." 5 AUTHORITY MEMBERS: Aye. 6 CHAIRWOMAN KUBE: Any opposed? Any 7 abstentions? 8 MR. ABELAR: I abstain. 9 CHAIRWOMAN KUBE: One abstention by 10 Mr. Abelar. 11 Motion carries. 12 Thank you. 13 CHAIRWOMAN KUBE: The Consent Agenda 14 consists of Items 18 through 22. I would like to 15 take them into one motion, if I could. 16 MR. HURD: So moved. 17 CHAIRWOMAN KUBE: Motion by 18 Mr. Hurd. 19 Second. 20 MS. PEARSON: Second. 21 CHAIRWOMAN KUBE: Second by 22 Ms. Pearson. 23 Any questions, comments or concerns? 24 Okay. All in favor please signify 25 by saying "aye." GUY J. RENZI & ASSOCIATES 115
1 AUTHORITY MEMBERS: Aye. 2 CHAIRWOMAN KUBE: Any opposed? Any 3 abstentions? 4 MR. MOORE: I abstain. 5 CHAIRWOMAN KUBE: One abstention by 6 Mr. Moore. 7 Motion carries. Thank you. 8 And to the officers from Wildwood, 9 thank you for coming. We always like the 10 officers to be here for the project. And you 11 were on the Consent Agenda. There were no 12 questions. Thank you. 13 We're going to move to Old Business 14 under Agenda Item 23. May I ask for the 15 Commissioner's comment, if any? 16 Hearing none, the public if I could, 17 Mr. Corby? I know he wanted to say something in 18 Other Comment. 19 No other comment? 20 Hearing that, I just need a motion 21 to adjourn. 22 MR. ABELAR: So moved. 23 CHAIRWOMAN KUBE: Motion by 24 Mr. Abelar. 25 Second by -- GUY J. RENZI & ASSOCIATES 116
1 MS. PEARSON: Second. 2 CHAIRWOMAN KUBE: -- Ms. Pearson. 3 All in favor please signify by 4 saying "aye." 5 AUTHORITY MEMBERS: Aye. 6 CHAIRWOMAN KUBE: Opposed? 7 Abstentions? 8 Happy holidays. Thank you for 9 putting up with us for this long agenda. 10 11 (HEARING CONCLUDED AT 12:03 P.M.) 12 13 14 15 16 17 18 19 20 21 22 23 24 25 GUY J. RENZI & ASSOCIATES 117
1 C E R T I F I C A T E 2 3 I, LINDA P. CALAMARI, a Notary Public of the 4 State of New Jersey, do hereby certify the 5 foregoing to be a true and accurate transcript of 6 my original stenographic notes taken at the time 7 and place hereinbefore set forth. 8 9 10 ----------------------------- 11 LINDA P. CALAMARI 12 13 14 15 Dated: DECEMBER 31, 2006. 16 17 18 19 20 21 22 23 24 25 GUY J. RENZI & ASSOCIATES Directory: dca -> affiliates dca -> January 2010 Directorates, Organizations and Acronyms dca -> Dillon Carroll dca -> How does the process work? dca -> Affirmative fair housing marketing plan dca -> Dear Friends of Heritage Tourism in the State of New Jersey affiliates -> Affirmative fair housing marketing plan dca -> Division of fire safety new jersey fire safety commission regular meeting affiliates -> School Districts and Shared Services Reducing Costs and Improving Quality Download 0.83 Mb. Share with your friends:
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