Development Authority
10-15-18 Minutes
MINUTES
DEVELOPMENT AUTHORITY LOWER ALLEN TOWNSHIP
REGULAR MEETING OCTOBER 15, 2018
The following were in ATTENDANCE:
AUTHORITY MEMBERS TOWNSHIP PERSONNEL
Max Stoner, Chairman Erin Trone, Township Assistant Manager
Peddrick Young, Vice Chairman Mary Ellen Banks, Recording Secretary
John Eby, Secretary Steven Miner, Solicitor
Salvatore F. Marone, Treasurer
Edward Black
PUBLIC IN ATTENDANCE
Leon Crone, Lower Allen Township Police Captain
Art Campbell of Campbell Commercial Real Estate, Inc.
Tom Ritchey, Third Mountain Partners, LLC
Jennifer Caron of Eckert and Seamans (Bond Attorney)
Daryl Peck and Chris Gibbons of Concord Public Finance (Financial Advisors)
Max Stoner, Chairman called the meeting of the Lower Allen Township Development Authority to order at 5:59pm and announced Proof of Publication was available for review.
APPROVAL OF MINUTES OF SEPTEMBER 17, 2018
Mr. EBY made a motion to approve the minutes of the September 17, 2018 meeting. Mr. MARONE seconded the motion. Motion carried, 5-0.
PUBLIC COMMENT: There was none.
ACTION: CAMPBELL COMMERCIAL LISTING AGREEMENT
Mrs. Trone presented the listing agreement with Campbell Commercial Real Estate concerning the Capital City Commons Condominiums at 3555 Gettysburg Road, Camp Hill, PA. Discussion ensued.
Mr. EBY made a motion to authorize execution of the listing contract which gives the right to sell and/or lease commercial property between the Lower Allen Township Development Authority and Campbell Commercial Real Estate, Inc. Mr. BLACK seconded the motion. Motion carried, 5-0.
RECESS TO EXECUTIVE SESSION
The Regular Meeting of the Development Authority recessed into Executive Session to discuss property purchase @ 6:07pm.
Mr. Black had to leave the meeting at 7:04 to attend the Lower Allen Township Board of Commissioners meeting.
RECONVENE REGULAR MEETING
The Regular Meeting of the Development Authority reconvened @ 7:18pm.
Mr. MARONE made a motion to instruct Campbell Commercial Real Estate, Inc. to re-trade with the seller of the property under due diligence at this time of an amount up to $1 million dollars lower than our current offer price. Mr. EBY seconded the motion. Motion carried, 4-0.
Mr. MARONE made a motion to authorize Lower Allen Township staff to work on behalf of the Development Authority Board with Campbell Commercial Real Estate, Inc. in the event any counter offer is made by the seller in response to the re-trading request. Mr. YOUNG seconded the motion. Motion carried, 4-0.
Mr. MARONE made a motion to authorize an additional $30,000 to the Lower Allen Township staff relative to the purchase of this property to continue for due-diligence matters in addition to the previously authorized $30,000. Mr. EBY seconded the motion. Motion carried, 4-0.
ACTION: APPROVAL TO AUTHORIZE CONCORD TO RELEASE REQUEST FOR PROPOSALS FOR BANK FINANCING FOR LOAN
Mr. MARONE made a motion to authorize Concord Public Finance to draft and circulate a request for proposal to area financial institutions on our behalf to request up to $15 million dollars of financing with a term not to exceed five (5) years. Mr. YOUNG seconded the motion. Motion carried, 4-0.
Mr. Marone left the meeting at 7:24 due to another commitment.
There will be no special meeting October 22, 2018 per Mrs. Trone unless something would come up.
BUSINESS OPENINGS:
- Dave and Buster’s – October 22nd
- Radle Electric – October 23rd
- Spring Gate Winery (at Arcona) – Tastings Available on Weekends
Mrs. Trone mentioned the Board will revisit Yetter Court property listing.
NEXT MEETING OF THE DEVELOPMENT AUTHORITY
The next meeting of the Development Authority is scheduled for Monday, November 19, 2018 at 6:00pm.
ADJOURNMENT
Mr. EBY made a motion to adjourn the meeting. Mr. YOUNG seconded the motion. Motion carried, 4-0. Meeting adjourned at 7:32pm.