Present: Michael Stamm (for T.C. Industrial Development Agency), Mack Travis, Andrew Dixon (Gateway Ithaca LLC),
media representatives, and members of the public

Michael Stamm opened the hearing at 12:00 p.m. He introduced himself as the President of TCAD, which provides administrative services to TCIDA. He will preside over the public hearing.

… Michael read the public hearing notice, indicating it had been published in the newspaper. He asked that anyone who wanted to speak please state your name and where you live. A summary of comments will be generated and presented to the IDA Board before they make a decision on the project.

Brian Grout (Town of Ithaca)
… Respect Mr. Travis and projects done in the City. Has been a property owner in City and owns 15 small apartment buildings. On behalf of his 100+ tenants, would like to state that he feels the abatement is unfair and it's an additional tax burden to his tenants. Requested that the IDA consider this before making their decision.

Jemma Macera ((125 Route 79E, City of Ithaca)
… Read from a prepared statement (attached).

… Brian Grout Clarifying that hearing today is strictly about the proposed abatement to the project and no other issues related to the project. Stamm Yes.

Eric Rosario (South Geneva Street, City of Ithaca)
… Read from a prepared statement (attached).

Faye Goukakis (City of Ithaca)
… Concerned about record of the hearing and that's why she inquired if meeting was being taped. Give a lot of time to community. Have known Mack a long time and like him. He's a reasonable landlord. Agree with Mr. Rosario that there should be a cap on abatements.
… This project feeds the cycle of abatements. Taxpayers pay burden. Not about Mack. Don't know economics well.
Wanted to share experiences as a renter. Want project to be built.
… Interesting that only media here is WHCU.
… Hard to speak out about issues. Political repercussions are enormous. People don't want to rent to Faye. Her rent is increasing by $125/month. Life is turned upside down. Don't know how to live in this town anymore. Don't drive and limited bus service, so cannot live in the outskirts.
… One of her neighbors said renters belong out of downtown. When calling about apartments, told that taxes are going up. Part of the problem is that Cornell is not willing to contribute and tax abatements for everything.
… Southwest Park happened and we're paying for that. Alan Cohen's administration didn't do it's homework. Library should never have been built. Building is an eyesore. As soon as Library came in, Cayuga Green came in. Someone must have known. Plays into a bigger picture.
… Abatements keep coming and rents are going up. Building expensive apartments, including in Collegetown,
boomerangs to lower classes. Stunned at audacity of treatment given when calling about apartments. Hard to find a nice living situations. Renting is becoming impossible.
… Green Street is going to be taken apart. In the future, there'll be more abatements, bigger building, and rents going
up. People won't live in town. Commuters will bring more cars. City was wrong taking away stores downtown. Heard
Mack talk on the radio about bringing upscale stores downtown. One of the positive things about living in NYC is can
walk to stores. We've made our community car-dependent.
… Sad thing is we have all this knowledge. For some it's great. But we need to look at the bigger picture and what we're doing to the community. People can't afford to live here. Been at Council meetings and have seen City make mistake after mistake. Can't speak to Mack's being able to develop the building with less. But better for all of us to look at future with tax abatements. Need some kind of cap as do assessments.

Don Lifton (Village of Lansing)
… Owned homes in the City and Town of Ithaca. Mostly homes with apartments. Have a sense of rental market here.
Plan to come back to live in the City. As a small player and long time resident, my judgement is that this request from an honorable petitioner should not be supported.
… Appeal of living in the County seat doesn't need tax break to lure renters. Look to 300 employees moving into Seneca Place. They'll be reassessing their own need to own two cars if they can walk to work.
… Heard other comments that property taxpayers/renters subsidizing this abatement if granted. This project is in competition with landlords who don't get benefits of abatement. Don't think Board should feel pressured by request and Mack's comments that if abatement is not granted, he would discontinue project. Intention needs to be expanded.
Thanks to Tim for attending as a Board representative.
… Mack is a highly regarded entrepreneur. By definition, entrepreneur is a risktaker. When he bought land, there were
no guarantees or contingencies. Saw land as an appealing good risk. If abatement is not granted, he'll pursue either:
(1) re-juggle plan to work without abatement or (2) if re-juggled plan is not appealing, sell it to another entrepreneur to develop.
… Urge Board to realize times have changed in the City. A good abatement decision needs to be made now with an understanding of a different context. Board does not need to be rushed. Can wait to see the consequences of Seneca Place when 300 professionals start working downtown. Hope this abatement is not granted as an unnecessary incentive for a project on a piece of land that doesn't require an incentive. Thanks to the Board for their time.

Seymour Smidt
… Read from a prepared statement (attached).

… Stamm Adding for the record that Gary Ferguson of the Ithaca Downtown Partnership provided a statement to be included in the minutes (attached). Thanks to everyone who attended and commented. We will summarize the comments made at today's hearing and present them to the IDA Board before it's next meeting.
… Lifton Is summary a public document? Stamm Yes. Lifton Will public see it before the Board receives it? Stamm Copies can be obtained at our office, 200 E. Buffalo Street. IDA meetings are open to the public. The next IDA meeting is scheduled for July 15, 2005 at 2:00 p.m. in the Old Jail Conference Room.

Michael Stamm closed the hearing at 1:00 p.m.

Sharon Holland Loucks
July 11, 2005