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John Risio
USA Niagara
(716) 284-2556
Katie Krawczyk
Empire State Development
(716) 846-8247
10/19/2009
USA NIAGARA WELCOMES NEW BOARD MEMBER
Board Approves MOU with the City, Contracts for Economic Development
The Board of Directors of the USA Niagara Development Corporation (USAN) welcomed Michael Williamson, owner and operator of Williamson Funeral Home located on Main Street in Niagara Falls, as its newest Board member. Mr. Williamson’s appointment to the USAN Board of Directors was recommended by Governor David A. Paterson and authorized by Empire State Development Corporation, the parent corporation of USAN.
Mr. Williamson will replace Director Erland (“Erkie”) Kailbourne, who is stepping down from the USAN Board after nine years of service. Mr. Kailbourne, Chairman of Financial Institutions, Inc., is one of USAN’s original Directors, serving on the Board since the organization’s inception in 2001. As a Director, Mr. Kailbourne helped guide USAN through the completion of several capital initiatives including the construction of the award-winning Conference Center Niagara Falls; the development of downtown Niagara Falls’ signature landmark structure, the former United Office Building; the renovation of the Crowne Plaza Hotel, which represents the largest private, non-gaming investment in the City in decades; and the historic restoration of Old Falls Street.
“I’d like to thank Erkie Kailbourne for the dedication and wisdom he has shown during his years of service as Director for USAN. Erkie’s innovative ideas and sound business sense have helped launch some of this Corporation’s most exciting projects,” said Dennis M. Mullen, USAN Chairman. “Additionally, I’d like to welcome Michael Williamson to the Board. As a business owner in Niagara Falls and a member of this community, Michael will bring an important perspective to our development initiatives and activities.”
During today’s meeting, the Board approved the following administrative items:
Memorandum of Understanding (MOU) with the City of Niagara Falls. USAN has entered into an MOU with the City of Niagara Falls to fund annual operating budgets for the Conference Center Niagara Falls (CCNF). The Board has previously approved similar agreements in 2003, 2005 and 2006. This MOU will also provide funding for the maintenance and programming of Old Falls Street and will continue the terms of the previous agreement which expires at the end of this year, to 2012. The City will guarantee funding of the CCNF and Old Falls Street operating budgets will not to exceed $1 million in total. The City acknowledges that $1 million of the $2.1 million dollars owed to USAN from the 2009 payment will be retained by the City for up to one year and be directed toward funding the Niagara County Community College Culinary Institute or will remit such sum to USAN for other related economic development projects. The MOU also directs the City to continue $2.1 million in capital payments to USAN, provided that the City receives $17.7 million or more dollars in State Aid Funds. If the City receives an amount greater than $16.7 million dollars but less than $17.7 million dollars in State Aid Funds, then the City will remit to USAN $1.1 million dollars, in either case, to be applied by USAN to support economic development projects related to CCNF or otherwise located within the USAN Development District. Under the MOU, USAN acknowledges that in the event the City receives less than $16.7 million, the City shall not be obligated to make any payments in addition to the CCNF and Old Falls Street operating payments.
Old Falls Street Management Agreement. USAN entered into a Management Agreement with Global Spectrum, LP, for management services of Old Falls Street. USAN previously authorized Global to provide management services for CCNF on September 24, 2008, with provisions for additional services related to the maintenance and programming of Old Falls Street.
2009 Capital Budget for Conference Center and Old Falls Street. The Board ratified and approved the CCNF and Old Falls Street Capital Budget for 2009. Per the MOU with the City, USAN receives up to $2.1 million annually in support of economic development projects related to CCNF or located within the USAN Development District. The proposed 2009 Capital Budget is $189,556, with $171,052 for CCNF capital improvements and $18,504 directed towards capital equipment costs for Old Falls Street.
Architectural and Engineering Services Contract with Cannon Design. USAN entered into a $105,000 consulting contract with Cannon Design to provide expert Architectural and Engineering services for work related to the architectural design for the unfinished 8,000 square feet of CCNF retail space, design services for an interior signage package and architectural plans for two exterior video display signs, and support for the LEED certification process for the existing CCNF. Funding source for this contract will be from MOU/City Funds.
446 & 448 Third Street Parking Lot Initiative Funding Agreement. USAN entered into a Funding Agreement with the City of Niagara Falls for the 446 & 448 Third Street Parking Lot Initiative. This initiative will create 13 surface parking spaces, with appropriate lighting and landscaping to improve the capacity and efficiency of the existing municipal parking areas that service Third Street. USAN will provide $75,663 from MOU/City Funds for design and construction costs. The City will hold all construction contracts and has completed acquisition of the 446 and 448 Third Street properties and associated demolition work at a total cost of approximately $100,000.
USAN, a subsidiary of Empire State Development Corporation, is solely dedicated to the support and promotion of economic development initiatives in Niagara Falls by leveraging private investment and encouraging growth and renewal of the tourism industry in the City of Niagara Falls.
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