Candida Affa- Vice Chairperson

Larry Hilliard– Chairperson Candida Affa- Vice Chairperson Sara Hailstone– Secretary Mary Ellen Koval-Treasurer Ray O’Connell-Assistant Secretary

Tamara Dolan - Executive Director Daniel K. McCarthy - APA Solicitor

ALLENTOWN PARKING AUTHORITY BOARD OF DIRECTORS MINUTES

A regular meeting of the Allentown Parking Authority Board was held February 26th at the offices of the Allentown Parking Authority located at 603 W. Linden Street.

The following were in attendance:

Candida Affa-Vice Chairperson (in attendance via speaker phone) Sara Hailstone-Secretary Mary Ellen Koval-Treasurer Ray O’Connell-Assistant Secretary

Also in attendance:

Tamara Dolan-APA Executive Director Daniel McCarthy-APA Solicitor Connie Abercrombie-Finance Manager George Grazer -Manager of Enforcement Marge Hopkins-Recorder of Minutes Scott Shearer-PFM Group Christopher Bamber-PFM Group Marc Feller-Dilworth Paxon Scott Kraus-The Morning Call

An Allentown Parking Authority Board Executive Session to discuss real estate was held prior to the regular Board meeting. Candida Affa called the Board meeting to order at 2:09

MINUTES

Ms. Affa asked for a motion to approve the Minutes from the January meeting. Mary Ellen Koval made a motion to approve the Minutes, Sara Hailstone seconded the motion, all were in favor and the Minutes were approved.

Tamara Dolan addressed the Board stating that, in interest of the time and consideration of the Board members’ other obligations, the Board meeting would be condensed and cover only the topics that require immediate attention.

OLD BUSINESS

Boyle Project

Tamara Dolan stated that there is a staff recommendation for capital improvements to the Spiral Deck. Dan McCarthy addressed the Board stating that Board packet contained a report by Boyle construction in regard to the Spiral deck and that the staff recommended improvements would cost approximately $3.4 million and the Board would need a resolution for the expenditure. Ms. Affa asked the Board for a resolution. Ms. Hailstone made a motion to approve the resolution stating that it is the official intent of the authority, under section 1.150-2 of the tax regulations, to undertake a project consisting of capital improvements to the Spiral deck at the corner of 9th and Linden Streets to be financed with tax exempt borrowing in a maximum principal amount of $3.5 million. The Allentown Parking Authority hereby expresses its intent to reimburse itself from the proceeds of such borrowings for that project for a period up to sixty days prior to February 26th 2014 and ending upon the issuance of the tax-exempt borrowing. Marc Feller stated that that the period of reimbursement begins with expenditures made sixty days prior to the current date of February 26th, 2014 and ends upon the issuance of tax exempt borrowing. Ms. Hailstone agreed with the revision and Ms. Koval seconded the motion, all were in favor and the resolution was approved.

NEW BUSINESS

Financial Recommendation Page 2 Scott Shearer of PFM stated that based on the interaction with the authority over the past several months, and reviewing borrowing options, based on various assumptions, Mr. Shearer and the PFM Group advised the Board to engage Tim Haahs and Associates to proceed with a feasibility study that will be utilized as supporting documentation during the financing process. Mr. McCarthy addressed the Board stating that the Board should consider a resolution to authorize the negotiation of and be entering into a contract, subject to Board approval, with Tim Haahs and Associates for the purposes outlined by Mr. Shearer. Ms. Koval made a motion to approve the resolution as stated by Mr. McCarthy. Ms. Hailstone seconded the motion, all were in favor and the resolution was approved. Tamara reminded the Board that preliminary work on a potential deck on the Community Lot continues, and that JB Reilly is waiting for a ‘comfort letter’ indicating our potential interest in partnering on a deck. Bond counsel and general counsel have approved verbiage of such a letter that will be signed by the executive director.

In the interest of time, Ms. Dolan deferred the Pay-by-Cell, Check Signing Policy, On-Street Plan Draft and Request to Add Staff topics to a future Board meeting. Ms. Dolan asked Board members to review the Finance Report and address any questions to APA Finance Manager Connie Abercrombie.

Courtesy of the Floor

Scott Kraus addressed the Board asking what topics were covered in the executive session. Mr. McCarthy replied the Board discussed financial consideration on the part of the APA as it relates to the budget, and real estate and potential disposition of real estate.

ADJOURNMENT

The meeting was adjourned at 2:21pm

THE NEXT BOARD MEETING WILL BE HELD AT 12PM ON MARCH 26th