MINUTES

DEVELOPMENT AUTHORITY                              LOWER ALLEN TOWNSHIP

REGULAR MEETING                                              MAY 16, 2022

The following were in ATTENDANCE: 

AUTHORITY MEMBERS                                        TOWNSHIP PERSONNEL

Max Stoner, Chairman                                                 Erin Trone, Township Assistant Manager        

H. Edward Black, Vice Chairman                                   Steven Miner, Solicitor

John Eby, Secretary                                                      Mary Ellen Banks, Recording Secretary

Salvatore Marone, Treasurer

Mark O’Shea              

 

Max Stoner, Chairman called the meeting of the Lower Allen Township Development Authority to order at 6:02pm and announced Proof of Publication was available for review.

 

PUBLIC COMMENT:

Mr. Ken Cohen of Gelgore Realty from Philadelphia, PA. He informed the Board they submitted an offer to purchase Unit #1 in Lower Allen Commons. He stated numerous properties owned by them in Central Pennsylvania are Swatara Square, Marshall’s Plaza in Gettysburg and we recently completed construction of a Starbucks in front of the Walmart Center in Goldsboro in October last year. We have a LOI (Letter of Intent) for Starbucks if we would be successful in acquiring the property that we presented our offer for Unit #. Included in our presentation is a list of references and our financial leverage. We have a very short due diligence period and a short period of settlement after gaining approvals. The Board thanked Mr. Cohen.

Mr. Mark Caldwell spoke on behalf of Mountz Jewelers about their proposal for Unit #1. He asked the Board if they had any additional questions for him. There were none at this time.

APPROVAL OF MINUTES OF APRIL 18, 2022

Mr. EBY made a motion to approve the minutes of the March 29, 2022. Mr. BLACK seconded the motion. Motion carried, 4-0 with Mr. Marone abstaining since he was not present.

ACTION: APPROVE CHECK REGISTER FROM MAY 2, 2022 – MAY 16, 2022 IN THE AMOUNT OF $216, 200.79.

Mr. EBY made a motion to approve the check register from May 2, 2022 – May 16, 2022 in the amount of $216,200.79. Mr. MARONE seconded the motion. Motion carried, 5-0.

DISCUSSION AND POSSIBLE ACTION: APPROVE SUBMISSION OF 2021 DCED REPORT.

Mr. EBY made a motion to Approve Submission of the amended 2021 DCED Report. Mr. O’SHEA seconded the motion. Motion carried, 5-0.

DISCUSSION AND POSSIBLE ACTION: APPROVE SUBMISSION OF 2021 IRS FORM 990.
Mr. EBY made a motion to Approve Submission of 2021 IRS form 990. Mr. MARONE seconded the motion. Motion carried, 5-0.

RECESS TO EXECUTIVE SESSION

The Regular Meeting of the Development Authority recessed into Executive Session to discuss real estate matters as follows @ 6:12pm.

• Lower Allen Commons Real Estate

1. Sale of Unit 1
2. Sale of Unit 3

RECONVENE REGULAR MEETING

The Regular Meeting of the Development Authority reconvened @ 7:17pm.

Mr. EBY stated in respect to the discussion of the sale of Unit #1, he made a motion to enter into an agreement of sale with Tanya Ulsh and/or her assignees subject to the review of the solicitor. Mr. BLACK seconded the motion. Motion carried, 5-0.

Mr. EBY stated in respect to the discussion of the sale of Unit 3, he made a motion to authorize signing a LOI (Letter of Intent) with IDS Capital Acquisitions subject to staff and solicitor review. Mr. MARONE seconded the motion. Motion carried, 5-0.

NEXT MEETING OF THE DEVELOPMENT AUTHORITY

The next meeting of the Development Authority is scheduled for Monday, June 20, 2022 at 6:00pm.

ADJOURNMENT

Mr. EBY made a motion to adjourn. Mr. MARONE seconded the motion. Motion carried, 5-0. Meeting adjourned at 7:20pm.