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                   Minutes of
           The City of Yonkers YEDC
                Regular Meeting
        March 27th, 2025 - 2:40 P.M.
                      At
        470 Nepperhan Avenue, Suite 200
         Yonkers, New York 10701-3892
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  B E F O R E:
  MAYOR MIKE SPANO - Chairman
  DEPUTY MAYOR SUSAN GERRY - Member
  MELISSA NACERINO - Treasurer
  CECILE SINGER - President & CEO
  VICTOR GJONAJ - Member (Excused)
  
  I D A   S T A F F:
  JAIME MCGILL - IDA Executive Director
  SIBY OOMMEN - IDA/YEDC Chief Fiscal Officer
  
  O T H E R S:
  LARRY SYKES, ESQ. - IDA Counsel
  ADRIANA M. BARANELLO, ESQ. - YEDC Counsel

  

  

             YEDC REGULAR MEETING
             MAYOR SPANO:  Okay, roll call.
             MR. OOMMEN:  Mayor Mike Spano.
             MAYOR SPANO:  Here.
             MR. OOMMEN:  Deputy Mayor Sue
        Gerry.
             DEPUTY MAYOR GERRY:  Here.
             MR. OOMMEN:  Melissa Nacerino.
             MS. NACERINO:  Here.
             MR. OOMMEN:  Cecile Singer.
             MS. SINGER:  Here.
             MR. OOMMEN:  Henry Djonbalaj.
             MR. DJONBALAJ:  Here.
             MR. OOMMEN:  Roberto Espiritu.
             MR. ESPIRITU:  Here.
             MR. OOMMEN:  Victor Gjonaj is
        excused.  Mayor, we have a quorum.
             MAYOR SPANO:  Good afternoon,
        everyone.  All of you should have the
        minutes for the February 26th, 2025
        meeting in front of you.  Are there
        any questions?  Hearing no questions,
        can I just ask -- yes?  Can I just
        ask that --
             MS. SINGER:  Motion.
             YEDC REGULAR MEETING
             MAYOR SPANO:  Who's eligible to
        vote?
             MR. OOMMEN:  Everyone except
        for Roberto.
             MAYOR SPANO:  All right, so
        everyone's eligible to vote except
        for Roberto.  We still have -- do we
        have a quorum?  Good.
             Hearing no questions.  Cecile
        has made a motion we accept the
        minutes, seconded by Deputy Mayor.
        All in favor?
             (A chorus of ayes.)
             THE CHAIRPERSON:  Okay.  The
        minutes have been passed.
             Item three, the approval of the
        financials for December 2024.
             MR. OOMMEN:  For the month of
        December we received agency fees of
        $346,340.  Our cash on hand at the
        end of December was $3.7 million.
        Thank you.
             MAYOR SPANO:  Are there any
        questions?  Hearing no questions.
             YEDC REGULAR MEETING
        Somebody want to make a motion?
             MS. NACERINO:  Motion.
             MAYOR SPANO:  Melissa's made a
        motion, seconded by Cecile Singer.
        All in favor?
             (A chorus of ayes.)
             MAYOR SPANO:  Any negatives?
        Hearing none, the financials for
        December 2024 -- 2000 -- because that
        says 2024.  I'm sorry, let me correct
        myself.  2024 have been passed.
             Item four.
             MS. MCGILL:  Next item is the
        approval of the audit for 2024.  Just
        prior to this meeting the Audit
        Committee of the YEDC met and had a
        presentation by our auditors, PKF
        O'Connor Davies.  We did receive a
        clean report.  We have our chair of
        the Audit Committee, Cecile Singer
        here to make a recommendation to the
        board.
             MS. SINGER:  Yes, I am pleased
        to report with the YEDC that they had
             YEDC REGULAR MEETING
        a clean report.  And again, we went
        over all of the different things and
        where vulnerabilities could be and we
        discussed cybersecurity, and I want
        to say that Siby does an excellent
        job too.  The financials are in order
        and there are no questions that our
        accountants have so that, again, and
        the balance.  And Jaime has looked
        this over and made sure that we have
        two people that we are -- when we
        issue any kind of a report, that we
        can feel confident that it has
        oversight.  And so in an era with so
        many complex financial things come
        before organizations, and there are
        so many questions about the integrity
        of financials, that we can have great
        confidence in the way our
        corporations are run and in the
        product that we put out so that
        anybody can look at what we are doing
        and understand it and be confident
        that the funds that are managed are
             YEDC REGULAR MEETING
        managed well.
             MAYOR SPANO:  Okay.  Are there
        any questions for Cecile Singer?
        We'll just state for the record,
        Cecile, thank you for your hard work
        as always, your dedicated service and
        taking on this job for us almost
        every time -- annually, and it's nice
        that -- that's nice for us to
        continue to work with you and to get,
        you know, such great reports on
        behalf of the team here as well, so
        congratulations to Jaime and the rest
        of the team.
             Somebody want to make a motion?
        Cecile Singer's made a motion we
        approve the audit for 2024, seconded
        by Deputy Mayor.  All in favor?
             (A chorus of ayes.)
             MAYOR SPANO:  Any negatives?
        Hearing none, the item has been
        approved.
             Let's go on to five.
             MS. MCGILL:  Item five is the
             YEDC REGULAR MEETING
        approval of the annual PAAA 24-hour
        report for the Yonkers EDC.  So again
        in your packets you received the
        annual PAAA report summary which
        includes the measurement report and
        the summaries of our operations and
        accomplishments for the EDC.  It
        highlights the five projects that
        received mortgage recording tax
        through the EDC this year, as well as
        some of the various sponsorships.
             This year we will be recording
        on on six projects in total, and
        again, once approved the annual
        report as well as the measurement
        report, and the annual audit will be
        uploaded and -- and -- as required by
        the ABO, sorry.
             MAYOR SPANO:  That's all good.
        Okay.  Have any questions?  Hearing
        none.  Melissa's made a motion that
        we accept the 2024 report, seconded
        by Cecile Singer.  All in favor?
             (A chorus of ayes.)
             YEDC REGULAR MEETING
             MAYOR SPANO:  Any negatives?
        Hearing none, the item is passed.
             Resolutions for consideration.
             MS. MCGILL:  The first
        resolution is the sponsorship
        resolution for the City of Yonkers
        Parks Department for opening day.
        This is a request to help support the
        Parks Department of the City of
        Yonkers in the amount of $50,000 to
        help sponsor some opening day
        activities.  This will help sponsor
        upcoming seasonal events, activities,
        community outreach and things of that
        nature.
             MAYOR SPANO:  Any questions?
             DEPUTY MAYOR GERRY:  Motion.
             MAYOR SPANO:  Deputy Mayor made
        a motion, seconded by Cecile.  All in
        favor?
             (A chorus of ayes.)
             MAYOR SPANO:  Any negatives?
        Hearing none, the item is passed.
             Any legal updates?
             YEDC REGULAR MEETING
             MR. SYKES:  I have nothing.
             MS. BARANELLO:  No, sir.
             MAYOR SPANO:  Any other
        business that anybody would like to
        bring before us?  Hearing none,
        Melissa, would you like to make a
        motion we adjourn?  Seconded by
        Deputy Mayor.  All in favor?
             (A chorus of ayes.)
             MAYOR SPANO:  Any negatives?
        We are adjourned, thank you.
             (Whereupon, at 2:45 P.M., the
        above matter concluded.)
  
            °        °       °        °

  

  

  
             YEDC REGULAR MEETING
              C E R T I F I C A T E
  
  STATE OF NEW YORK      )
                         :  SS.:
  COUNTY OF WESTCHESTER  )
  
        I, NATHAN DAVIS, a Notary Public for
  and within the State of New York, do hereby
  certify:
        That the above is a correct
  transcription of my stenographic notes.
        I further certify that I am not
  related to any of the parties to this
  action by blood or by marriage and that I
  am in no way interested in the outcome of
  this matter.
        IN WITNESS WHEREOF, I have hereunto
  set my hand this 8th day of April 2025.

  
                      <%24408,Signature%>
                         NATHAN DAVIS