Meeting Notice

TO: Agency Members

FROM: Kenneth F. Rose, Chief Executive Officer

DATE: May 15, 2018

RE: MCIDA Meeting

The regular meeting of the Montgomery County Industrial Development Agency is schedule for Thursday, May 17, 2018 at 4:30 p.m. at the Old County Courthouse, 9 Park Street, Fonda, NY.

Please call Michele at 853-8334 between 8:30 a.m. and 4:00 p.m. if you have any question cc: A. Joseph Scott, III, Esq. The Recorder Montgomery Co. Legislature The Leader Herald AIDA Members Daily Gazette DPW

Department of Economic Development and Planning, Industrial Development Agency & Capital Resource Corporation 9 Park Street, P.O. Box 1500, Fonda, NY 12068 p: 518.853.8334 f: 518.853.8336 www.mcbdc.org

Montgomery County Industrial Development Agency Meeting Agenda May 17, 2018

I. Call to Order

II. Minutes A. Audit Committee-March 8, 2018 B. Governance Committee-March 8, 2018 C. Marketing Committee-March 8, 2018 D. Regular Meeting-March 8, 2018

III. Communications

IV. Public Comments

V. Chair’s Report

VI. Director’s Report A. Staff Reports B. CFA Update C. DRI Update D. Exit 29 Redevelopment Project Update

VII. Financial Report A. IDA Financial Report B. Revolving Loan Fund

VIII. Unfinished Business

IX. New Business A. Borrego Solar B. Mohawk Solar LLC. IDA Application C. RLF Application-Executive Group

X. Adjournment

MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AGENCY Audit Committee Meeting Minutes March 8, 2018

MEMBERS PRESENT: STAFF MEMBERS PRESENT: John McGlone, Vice-Chair Kenneth F. Rose, Chief Executive Officer Robert Harris, Treasurer Michele Pawlik, Economic Dev Program Asst.

MEMBERS ABSENT: OTHERS PRESENT: Carol Shineman, Member

I. Call to order

The meeting was called to order by Chairman McGlone at 3:30 p.m.

II. IDA Audit Report

During the Audit Committee, West and Company presented the 2017 MCIDA Financial and Independent Audit Reports. The Committee reviewed the report and there were no issues or changes.

Motion was made by Robert Harris and seconded by John McGlone to recommend onto full board and accept the 2018 MCIDA Financial and Independent Audit Reports. All members present were in favor.

III. Adjournment

A motion was made by Robert Harris, seconded by John McGlone to adjourn the meeting at 3:51 pm. All members present were in favor.

Respectfully submitted

______Michele Pawlik Economic Dev Program Asst.

MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AGENCY Governance Committee Meeting Minutes March 8, 2018

MEMBERS PRESENT: STAFF MEMBERS PRESENT: John McGlone, Vice-Chair Kenneth Rose, Chief Executive Officer John Snyder, Member Michele Pawlik, Economic Dev. Program Asst.

MEMBERS ABSENT: OTHERS PRESENT: Matthew Beck, Secretary

I. Call to Order

The meeting was called to order by Chairman, McGlone at 4:00 P.M

II. Mission Statement and Performance Measurement Report

The Committee reviewed the Confidential Evaluation of Board Performance and noted that there were not any issues with the submittals by the members that needed to be addressed by the Board. The committee had a discussion about continuing with trainings and retreats for the IDA in the near future on specific topics.

The committee reviewed the proposed 2018 Mission Statement and Performance Measurement Report and a motion was made by John McGlone, seconded by John Snyder to recommend onto full board. All members present were in favor.

III. Adjournment

A motion was made by John Snyder, seconded by John McGlone to adjourn the meeting at 4:16 p.m. All members present were in favor.

Respectfully submitted

______Michele Pawlik Economic Dev. Program Asst.

MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AGENCY Marketing Committee Meeting Minutes March 8, 2018

MEMBERS PRESENT: STAFF MEMBERS PRESENT: John McGlone, Vice-Chair Kenneth Rose, Chief Executive Officer Mark Kowalczyk, Member Michele Pawlik, Economic Dev. Program Asst. Andrew Santillo, Staff Assistant

MEMBERS ABSENT: OTHERS PRESENT: Matthew Beck, Secretary

I. Call to Order

The meeting was called to order by Chairman, McGlone at 4:16 P.M

II. Purchasing Professional Video Equipment

Mr. Andrew Santillo presented his finding on purchasing professional video equipment, to continue with on-going marketing efforts through social media and other outlet. Mr. Santillo stated that that the cost of the equipment is within procurement policy. Mrs. Pawlik indicated that by purchasing video equipment in house, we would have the flexibility to create and produce more video content throughout the county and the year. The Committee agreed it would be beneficial for staff to purchase video equipment and had no other questions.

A motion was made by Mark Kowalczyk, seconded by John Mcglone to recommend onto full board to authorize the purchasing of professional video equipment for an amount up to $7,000. All members present were in favor.

III. Adjournment

A motion was made by Mark Kowalczyk, seconded by John McGlone to adjourn the meeting at 4:25 p.m. All members present were in favor.

Respectfully submitted

______Michele Pawlik Economic Dev. Program Asst. Montgomery County Industrial Development Agency Meeting March 8, 2018 Meeting Minutes

MEMBERS PRESENT: STAFF MEMBERS PRESENT: Robert Hoefs, Chairman Kenneth F. Rose, Chief Executive Officer John McGlone, Vice Chair Michele Pawlik, ED Program Asst. Robert Harris, Treasurer Andrew Santillo, Staff Assistant Carol Shineman , Member Karl Gustafson, Jr., Grant Assistant Mark Kowalczyk, Member Christopher Canada, Esq., Agency Counsel John Snyder, Member

ABSENT: OTHERS: Sheila Snell, Chief Financial Officer Roy Dimond, Eco. Dev. Committee Chairman Mathew Beck, Secretary Robert Purtell, Montgomery County Legislature Daniel Wilson, Montgomery County Legislature

I. Call to Order

The meeting was called to order by Chairman Hoefs at 4:30pm.

II. Minutes

Motion was made by John McGlone, seconded by Mark Kowalczyk to approve the Governance meeting minutes of January 11, 2018. All members present were in favor.

Motion was made by Robert Harris, seconded by Mark Kowalczyk to approve the Organizational meeting minutes of January 11, 2018. All members present were in favor.

Motion was made by John McGlone, seconded by Robert Harris to approve for the IDA regular meeting minutes of January 11, 2018. All members present were in favor.

III. Communications

There were no Communications to report.

IV. Public Comments

Mr. Steve Helmin thanked the IDA board for letting him speak and wanted to invite the IDA to open house on Saturday March 10, 2018 from 1-4p. Mr. Helmin stated that members will be there to answer any questions and all are welcomed.

V. Chair’s Report

Chairman Hoefs stated that tonight will be his last night as the IDA Chairman and last IDA meeting. Mr. Hoefs stated that he appreciated everyone’s hard work and dedication, both past and

1 MCIDA Minutes 3.8.18 present and he sees a great future for Montgomery County and the IDA. Mr. Hoefs stated that he has truly enjoyed his time on the board and will miss everyone.

VI. Director’s Report

A. Staff Reports

Mr. Rose indicated that the staff reports were included in the packet, and to inquire directly with the appropriate staff member if there were any questions.

Mr. Rose updated the board on the Exit 29 Redevelopment project stating that the County on behalf of the Village of Canajoharie submitted a $1 million dollar Restore New York Grant, and another $5 million Special Project Restore New York Grant. It is anticipated that the announcements in relation to these two grants should be within the next couple of months.

VII. Financial Report

IDA Financial report

Mr. Rose stated that now that the audit is complete that the monthly financial reports will be distributed at the next board meeting.

Revolving Loan Fund

Mr. Rose stated that the revolving loan fund report was included in the board packet for review. TES Corp. which is opening a facility in the former Hotaling Florist shop in the City of Amsterdam closed on their loan.

VIII. Unfinished Business

There was no Unfinished Business to report.

IX. New Business

A. 2017 Annual Audit Report

Chairman Hoefs reported that the Agency’s Auditors presented the Annual Independent Audit and Financial Report to the Audit Committee and that they found no issues with either.

The following resolution was offered by John McGlone, seconded by Carol Shineman, to wit:

RESOLUTION ACCEPTING AUDIT REPORT PRESENTED BY WEST AND COMPANY FOR FINANCIAL PERIOD ENDING DECEMBER 31, 2017

The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Robert Hoefs VOTING YES John McGlone VOTING YES

2 MCIDA Minutes 3.8.18 Robert Harris VOTING YES Matthew Beck VOTING ABSENT Mark Kowalczyk VOTING YES Carol Shineman VOTING YES John Snyder VOTING YES

The foregoing Resolution No. 18-04 was thereupon declared duly adopted.

B. 2017 Finance Report

The following resolution was offered by John McGlone seconded by Mark Kowalczyk, to wit:

RESOLUTION TO ACCEPT ANNUAL FINANCIAL REPORT OF MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AGENCY IN ACCORDANCE WITH PUBLIC AUTHORITY ACCOUNTABILITY ACT OF 2005 AS PRESENTED AND CERTIFIED BY THE CEO AND CFO

The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Robert Hoefs VOTING YES John McGlone VOTING YES Robert Harris VOTING YES Matthew Beck VOTING ABSENT Mark Kowalczyk VOTING YES Carol Shineman VOTING YES John Snyder VOTING YES

The foregoing Resolution No. 18-05 was thereupon declared duly adopted.

C. 2018 Mission Statement and Performance Measurement Report

Mr. Hoefs reported that the Governance Committee met earlier and reviewed the draft 2018 Mission Statement. The Committee had no issue with the Policy and Procedures Manual, but discussed about continuing with trainings and retreats for the IDA in the near future on specific topics.

The following resolution was offered by John McGlone, seconded by Carol Shineman, to wit:

RESOLUTION ADOPTING 2018 MISSION STATEMENT AND MEASUREMENT REPORT

The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Robert Hoefs VOTING YES John McGlone VOTING YES Robert Harris VOTING YES Matthew Beck VOTING ABSENT

3 MCIDA Minutes 3.8.18 Mark Kowalczyk VOTING YES Carol Shineman VOTING YES John Snyder VOTING YES

The foregoing Resolution No. 18-06 was thereupon declared duly adopted.

Motion was made by Robert Harris, seconded by Carol Shineman to enter into executive session to discuss potential land transaction whereby publicity would substantially affect the value thereof at 5:14 pm. All were in favor. Motion was made by Carol Shineman, seconded by Mark Kowalczyk to adjourn executive session at 5:50 pm. All members present were in favor. No action was taken in Executive Session.

D. 2018 DAIM LOGISTICS INC. Project

The Agency was approached by DAIM Logistics as it relates to a re-financing that they are undertaking at on property that they own in the Glen Canal View Business Park. Since the Agency and the Company currently have a Lease/Leaseback agreement with DAIM Logistics the Agency would need to consent to the refinancing.

The following resolution was offered by Mark Kowalczyk, seconded by Carol Shineman, to wit:

RESOLUTION AUTHORIZING THE EXECUTION BY MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AGENCY OF A CERTAIN MORTGAGE AND RELATED DOCUMENTS IN CONNECTION WITH THE DAIM LOGISTICS INC. PROJECT.

The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Robert Hoefs VOTING YES John McGlone VOTING YES Robert Harris VOTING YES Matthew Beck VOTING ABSENT Mark Kowalczyk VOTING YES Carol Shineman VOTING YES John Snyder VOTING YES

The foregoing Resolution No. 18-07 was thereupon declared duly adopted.

E. Marketing Discussion

Staff was looking into purchasing video equipment to continue with the on-going marketing efforts through social media and other outlets. Purchasing in house equipment would save the Agency money in the production of the video ads after just a couple of video spots. A motion was made by Mark Kowalczyk and seconded by John McGlone to authorize the purchasing of professional video equipment for an amount up to $7,000. All members present were in favor.

X. Adjournment

4 MCIDA Minutes 3.8.18 A motion was made by Robert Harris, seconded Carol Shineman to adjourn the meeting at 6:00 pm. All members present were in favor.

Respectfully submitted

______Michel Pawlik ED Program Asst. Attachments: Resolution No. 18-04, 18-05, 18-06, 18-07

5 MCIDA Minutes 3.8.18 RESOLUTION ACCEPTING 2017 AUDIT REPORT

A regular meeting of Montgomery County Industrial Development Agency (the “Agency”) was convened in public session at the offices of the Agency located at the Old County Courthouse, 9 Park Street, Fonda, New York on March 8, 2017, at 4:30 p.m., local time.

The meeting was called to order by the (Vice) Chairman and, upon roll being called, the following members of the Agency were:

PRESENT: Robert Hoefs Chair John McGlone Vice-Chair Robert Harris Treasurer Mark Kowalczyk Member Carol Shineman Member John Snyder Member

ABSENT: Matthew Beck Secretary Sheila Snell Chief Financial Officer

THE FOLLOWING PERSONS WERE ALSO PRESENT: Kenneth F. Rose Chief Executive Officer Michele Pawlik Ec. Dev. Program Assistant Andrew Santillo Staff Assistant Karl Gustafson, Jr. Grant Assistant Christopher Canada, Esq. Agency Counsel

The following resolution was offered by John McGlone, seconded by Carol Shineman, to wit:

Resolution No. 18-04

RESOLUTION ACCEPTING AUDIT REPORT PRESENTED BY WEST AND COMPANY FOR FINANCIAL PERIOD ENDING DECEMBER 31, 2017

WHEREAS, Montgomery County Industrial Development Agency (the “Agency”) is authorized and empowered by the provisions of Chapter 1030 of the 1969 Laws of New York, constituting Title 1 of Article 18-A of the General Municipal Law, Chapter 24

MCIDA Res. 18-04 of the Consolidated Laws of New York, as amended (the “Enabling Act”) and Chapter 666 of the 1970 Laws of New York, as amended, constituting Section 895-d of said General Municipal Law (said Chapter and the Enabling Act being hereinafter collectively referred to as the “Act”) to promote, develop, encourage and assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing of industrial, manufacturing, warehousing, commercial, research, recreation and civic facilities, among others, for the purpose of promoting, attracting and developing economically sound commerce and industry to advance the job opportunities, health, general prosperity and economic welfare of the people of the State of New York, to improve their prosperity and standard of living, and to prevent unemployment and economic deterioration; and

WHEREAS, West and Company, CPA presented the Agency with the final audit report for financial period ended December 31, 2017;

RESOLVED, that report be accepted by the Montgomery County Industrial Development Agency.

FURTHER RESOLVED, This Resolution shall take effect immediately.

The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Robert Hoefs VOTING YES John McGlone VOTING YES Robert Harris VOTING YES Matthew Beck VOTING ABSENT Mark Kowalczyk VOTING YES Carol Shineman VOTING YES John Snyder VOTING YES

The foregoing Resolution No. 18-04 was thereupon declared duly adopted.

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MCIDA Res. 18-04 STATE OF NEW YORK ) ) SS.: COUNTY OF MONTGOMERY )

I, the undersigned (Assistant) Secretary of Montgomery County Industrial Development Agency (the “Agency”), do hereby certify that I have compared the foregoing extract of the minutes of the meeting of the members of the Agency held on March 8, 2018 with the original thereof on file in my office, and that the same is a true and correct copy of said original and of the whole of said original so far as the same relates to the subject matters therein referred to.

I FURTHER CERTIFY that (A) all members of the Agency had due notice of said meeting; (B) said meeting was in all respect duly held; (C) pursuant to Article 7 of the Public Officers Law (the “Open Meetings Law”), said meeting was open to the general public, and due notice of the time and place of said meeting was given in accordance with such Open Meetings Law; and (D) there was a quorum of the members of the Agency present throughout said meeting.

I FURTHER CERTIFY that, as of the date hereof, the attached Resolution is in full force and effect and has not been amended, repealed or rescinded.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Agency this 8th day of March, 2018.

______(Assistant) Secretary

(S E A L)

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MCIDA Res. 18-04 RESOLUTION ACCEPTING 2017 ANNUAL FINANCIAL REPORT

A regular meeting of Montgomery County Industrial Development Agency (the “Agency”) was convened in public session at the offices of the Agency located at the Old County Courthouse, 9 Park Street, Fonda, New York on March 8, 2018, at 4:30 o’clock p.m., local time.

The meeting was called to order by the (Vice) Chairman and, upon roll being called, the following members of the Agency were:

PRESENT: Robert Hoefs Chair John McGlone Vice-Chair Robert Harris Treasurer Mark Kowalczyk Member Carol Shineman Member John Snyder Member

ABSENT: Matthew Beck Secretary Sheila Snell Chief Financial Officer

THE FOLLOWING PERSONS WERE ALSO PRESENT: Kenneth F. Rose Chief Executive Officer Michele Pawlik Ec. Dev. Program Assistant Andrew Santillo Staff Assistant Karl Gustafson, Jr. Grant Assistant

The following resolution was offered by John McGlone seconded by Mark Kowalczyk, to wit:

Resolution No. 18-05

RESOLUTION TO ACCEPT ANNUAL FINANCIAL REPORT OF MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AGENCY IN ACCORDANCE WITH PUBLIC AUTHORITY ACCOUNTABILITY ACT OF 2005 AS PRESENTED AND CERTIFIED BY THE CEO AND CFO

WHEREAS, Montgomery County Industrial Development Agency (the “Agency”) is authorized and empowered by the provisions of Chapter 1030 of the 1969 Laws of New York, constituting Title 1 of Article 18-A of the General Municipal Law, Chapter 24 of the Consolidated Laws of New York, as amended (the “Enabling Act”) and Chapter 666 of the 1970 Laws of New York, as amended, constituting Section 895-d of said General Municipal Law (said Chapter and the Enabling Act being hereinafter collectively referred to as the “Act”) to promote, develop, encourage and assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing of industrial, manufacturing, warehousing, commercial, research, recreation and civic facilities, among others, for the purpose of promoting, attracting and

MCIDA Res. 18-05 developing economically sound commerce and industry to advance the job opportunities, health, general prosperity and economic welfare of the people of the State of New York, to improve their prosperity and standard of living, and to prevent unemployment and economic deterioration; and

WHEREAS, the Public Authority Accountability Act of 2005 requires an Annual Financial Report to be prepared and certified in writing by the Chief Executive Officer and the Chief Financial Officer, and

WHEREAS, the Public Authority Accountability Act of 2005 further requires the MCIDA to approve such Annual Financial Report, therefore be it

RESOLVED that the Montgomery County Industrial Development Agency has reviewed the attached Annual Financial Report presented to them by the Chief Executive Officer and the Chief Financial Officer and accepts the presented Annual Financial Report.

FURTHER RESOLVED, This Resolution shall take effect immediately.

The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Robert Hoefs VOTING YES John McGlone VOTING YES Robert Harris VOTING YES Matthew Beck VOTING ABSENT Mark Kowalczyk VOTING YES Carol Shineman VOTING YES John Snyder VOTING YES

The foregoing Resolution No. 18-05 was thereupon declared duly adopted.

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MCIDA Res. 18-05 STATE OF NEW YORK ) ) SS.: COUNTY OF MONTGOMERY )

I, the undersigned (Assistant) Secretary of Montgomery County Industrial Development Agency (the “Agency”), do hereby certify that I have compared the foregoing extract of the minutes of the meeting of the members of the Agency held on March 8, 2018 with the original thereof on file in my office, and that the same is a true and correct copy of said original and of the whole of said original so far as the same relates to the subject matters therein referred to.

I FURTHER CERTIFY that (A) all members of the Agency had due notice of said meeting; (B) said meeting was in all respect duly held; (C) pursuant to Article 7 of the Public Officers Law (the “Open Meetings Law”), said meeting was open to the general public, and due notice of the time and place of said meeting was given in accordance with such Open Meetings Law; and (D) there was a quorum of the members of the Agency present throughout said meeting.

I FURTHER CERTIFY that, as of the date hereof, the attached Resolution is in full force and effect and has not been amended, repealed or rescinded.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Agency this 8th day of March, 2018.

______(Assistant) Secretary

(S E A L)

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MCIDA Res. 18-05 RESOLUTION ADOPTING 2017 MISSION STATEMENT AND MEASUREMENT REPORT

A regular meeting of Montgomery County Industrial Development Agency (the “Agency”) was convened in public session at the offices of the Agency located at the Old County Courthouse, 9 Park Street, Fonda, New York on March 8, 2017, at 4:30 o’clock p.m., local time.

The meeting was called to order by the (Vice) Chairman and, upon roll being called, the following members of the Agency were:

PRESENT: Robert Hoefs Chair John McGlone Vice-Chair Robert Harris Treasurer Mark Kowalczyk Member Carol Shineman Member John Snyder Member

ABSENT: Matthew Beck Secretary Sheila Snell Chief Financial Officer

THE FOLLOWING PERSONS WERE ALSO PRESENT: Kenneth F. Rose Chief Executive Officer Michele Pawlik Ec. Dev. Program Assistant Andrew Santillo Staff Assistant Karl Gustafson Grant Assistant Christopher Canada, Esq. Agency Counsel

The following resolution was offered by John McGlone, seconded by Carol Shineman, to wit:

Resolution No. 18-06

RESOLUTION ADOPTING 2017 MISSION STATEMENT AND MEASUREMENT REPORT

WHEREAS, Montgomery County Industrial Development Agency (the “Agency”) is authorized and empowered by the provisions of Chapter 1030 of the 1969 Laws of New York, constituting Title 1 of Article 18-A of the General Municipal Law, Chapter 24 of the Consolidated Laws of New York, as amended (the “Enabling Act”) and Chapter 666 of the 1970 Laws of New York, as amended, constituting Section 895-d of said General Municipal Law (said Chapter and the Enabling Act being hereinafter collectively referred to as the “Act”) to promote, develop, encourage and assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing of industrial, manufacturing, warehousing, commercial, research,

MCIDA Res. 18-06 recreation and civic facilities, among others, for the purpose of promoting, attracting and developing economically sound commerce and industry to advance the job opportunities, health, general prosperity and economic welfare of the people of the State of New York, to improve their prosperity and standard of living, and to prevent unemployment and economic deterioration; and

WHEREAS, the 2009 Public Authorities Reform Act added a new Section 2824-a in the Public Authorities Law requiring state and local public authorities to develop and adopt a mission statement and establish performance measures and review those annually,

RESOLVED, that the Montgomery County Industrial Development Agency’s Board of Directors hereby adopts the Performance Measures and Measurement Report for 2018 attached hereto as Attachment A, and

FURTHER RESOLVED, The officers, employees and agents of the Agency are hereby authorized and directed for and in the name and on behalf of the Agency to do all acts and things required or provided to carry out the terms of this Resolution, and to execute and deliver any additional certificates, instruments and documents, to pay all such fees, charges and expenses and to do all such further acts and things as may be necessary or, in the opinion of the officer, employee or agent acting, desirable and proper to effect the purposes of the foregoing Resolution and to cause compliance by the Agency with all of the terms, covenants and provisions of this Resolutions, and

FURTHER RESOLVED, This Resolution shall take effect immediately.

The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Robert Hoefs VOTING YES John McGlone VOTING YES Robert Harris VOTING YES Matthew Beck VOTING ABSENT Mark Kowalczyk VOTING YES Carol Shineman VOTING YES John Snyder VOTING YES

The foregoing Resolution No. 18-06 was thereupon declared duly adopted.

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MCIDA Res. 18-06 STATE OF NEW YORK ) ) SS.: COUNTY OF MONTGOMERY )

I, the undersigned (Assistant) Secretary of Montgomery County Industrial Development Agency (the “Agency”), do hereby certify that I have compared the foregoing extract of the minutes of the meeting of the members of the Agency held on March 8, 2018 with the original thereof on file in my office, and that the same is a true and correct copy of said original and of the whole of said original so far as the same relates to the subject matters therein referred to.

I FURTHER CERTIFY that (A) all members of the Agency had due notice of said meeting; (B) said meeting was in all respect duly held; (C) pursuant to Article 7 of the Public Officers Law (the “Open Meetings Law”), said meeting was open to the general public, and due notice of the time and place of said meeting was given in accordance with such Open Meetings Law; and (D) there was a quorum of the members of the Agency present throughout said meeting.

I FURTHER CERTIFY that, as of the date hereof, the attached Resolution is in full force and effect and has not been amended, repealed or rescinded.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Agency this 8th day of March, 2018.

______(Assistant) Secretary

(S E A L)

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MCIDA Res. 18-06 Attachment A

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MCIDA Res. 18-06

New York State Local Public Authority Mission Statement and Measurement Report

Local Public Authority Name: Montgomery County Industrial Development

Fiscal Year: January 2018 – December 31, 2018

Enabling Legislation: Industrial development agencies (“IDAs”) are formed under Article 18-A of New York State General Municipal Law, as public benefit corporations. IDAs were created to actively promote, encourage, attract and develop job and recreational opportunities and economically-sound commerce and industry in cities, towns, villages and counties throughout New York State (the “State”). IDAs are empowered to provide financial assistance to private entities through tax incentives in order to promote the economic welfare, prosperity and recreational opportunities for residents of a municipality (“Benefited Municipality”).

Mission Statement: The Montgomery County Industrial Development Agency was created in 1970 as a public benefit corporation of the State of New York. The MCIDA's mission is to assist in creating and maintaining jobs, thereby strengthening the economic base of the community as well as improving the quality of life of the residents of Montgomery County. This mission is accomplished by providing access to real estate solutions through the development of “shovel ready industrial parks”, offering financial assistance and incentives along with business development and technical assistance to businesses looking to expand or locate in Montgomery County.

Date Adopted: March 8, 2018

2017 Measurements and 2018 Report On Those Measurements:

A. Assist at least five existing firms with some combination of funding, technical assistance, and problem solving.

The Agency assisted numerous firms and not for profit establishments throughout the course of the year with technical assistance through grant procurement, financial assistance and informational products. The Agency through its list serve which includes over 100 area businesses and numerous large non-for-profit employers sent out several informational campaigns detailing various programs that were available to them through State, Federal and Local Agencies. Additionally, the Agency through the Montgomery County Outreach Consortium, met with several businesses throughout the year as part of the County’s Outreach and Retention Program. Direct Technical assistance in grant writing and problem solving was provided to Dollar General Northeast DC, Memory Lane Daycare, L&S Veneer, Lee Shops at Wagner’s Square, TES Corporation/New Process Cleaners, Vida Blend, Richardson Brands, etc. in 2017.

B. Through some combination of funding, technical assistance, and problem solving secure new Job Creation and Capital Investment Commitments. 1

Dollar General Corporation- the Agency finalized an application from Dollar General Corporation and entered into a lease/leaseback agreement with them for their project in the Florida Business Park Extension. The project consists of a 750,000 sq. ft. northeast distribution center to service regional stores. The project will result in a capital investment estimated at $85 million with 430 full time jobs. Average annual salary of company jobs created would be approximately $33,900. The Agency would be responsible to hold a public hearing in the Town of Florida. Dollar General broke ground on the project in early summer.

L&S Veneer- The Agency sold a 5.7 acre piece of property adjacent to L&S Veneer’s existing site so that they could continue to grow within the Glen Canal View Business Park and remain competitive.

Lee Shops at Wagner’s Square- The Agency processed a loan through the County’s Revolving Loan Fund for Lee Shops at Wagner’s Square in the amount of $400,000. The project is anticipated to lead to the creation of 10 jobs. Three stores known as Lee’s Shop and located in downtown Canajoharie consisting of a Christmas, collectible and pottery store products.

TES Corporation and New Process Cleaners-The Agency processed a loan through the County’s Revolving Loan Fund in an amount of $125,000 for the acquisition and renovation of a long vacated building in downtown Amsterdam. The facility would be used as a dry cleaning and Laundromat providing a much needed service to the public in that neighborhood. The project will lead to the retention of 6 jobs and the creation of an additional 4.

Vida Blend.- A $240,000 ESD Capital Grant written by staff was awarded to Vida Blend for the construction of their proposed new 14,000 Sq. Ft. facility in the Florida Business Park Extension which is proposed to lead to 18 new jobs. Vida Blend is pre- nutrient mix company which has currently outgrown their existing facilities on State Highway 5S in the City of Amsterdam.

KCG Development- A $1,000,000 ESD Capital Grant written by staff was awarded to help offset the costs associated with the Chalmers Multi Use Redevelopment Project. The project will entail the development of apartments, commercial space and a riverfront banquet and restaurant facility.

C. Work cooperatively with local governments and school districts to further economic development progress.

In 2017, the Agency worked with Montgomery County, Village of Canajoharie, Village of Fonda and City of Amsterdam for various projects. Projects ranged from community development projects to private sector initiatives highlighted in other sections of this report.

2

Agricultural Micro-Enterprise Grant- A $200,000 County Micro-Enterprise Grant was also secured for the establishment of an Agricultural Micro Enterprise grant program to focus on one of the County’s largest industries.

Job Readiness PILOT Program-The Agency worked with FMCC and the County Department of Social Services and funded a workforce development initiative designed to provide training and skills to individuals on public assistance so that they can re-enter the workforce. The genesis for this type of initiative came from the growing demand of human resources by local and regional employers.

D. Continue to work with Fulton County in implementing the Regional Business Plan for Fulton and Montgomery Counties including further development of Regional Business Park.

The Agency continued to work with Fulton County Economic Development officials, educational, political and area Business Leaders in implementing the Fulton and Montgomery Counties Regional Business Plan through the CEO Roundtable. The Agency, in conjunction with Fulton County, continued to oversee the SEQR process in relation to the petition for Annexation Request by the two property owners which encompass the proposed Regional Business Park.

E. Continue to focus on Exit 29 Redevelopment Project by applying for additional grant opportunities a well as implement the work plans associated with the grants received to date on the project.

The Agency submitted and received a $300,000 grant through National Grid’s Brownfield Redevelopment Program for the Exit 29 Redevelopment Project. The funds were used for the clean up of various asbestos debris piles located at the site. Agency staff also developed and submitted two RESTORENY Applications for the Exit 29 Redevelopment Project on behalf of the Village of Canajoharie. An application was submitted for $1 Million and $5 Million dollars respectively.

F. Continue Implementing the County and Regional Branding Action Plan to further the Agency’s mission.

Montgomery County Agricultural Video- The Agency developed a video highlighting Montgomery County’s Agricultural Attractions and amenities as part of it’s on going 2017-2018 Marketing Campaign.

Twitter Account- The Agency created a twitter account and created the tagline #DevelopingStronger which was implemented on all our social media platforms and news releases.

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Montgomery County Works website- Staff continued developing and growing the Montgomery County Works website and reached out to companies throughout the County in relation to the site and utilizing it for their job posting.

2017-2018 Marketing Plan- The Agency finalized the development of the 2017-2018 marketing plan and developed a quarterly board report that is presented to Agency members in order to evaluate the effectiveness of the existing marketing strategy.

Brand Evaluation Study- The Agency authorized entering into a contract with North Star Destinations to undertake a Brand Evaluation Study in 2018 to gauge the effectiveness of the County’s Brand since it was rolled out in 2015.

G. Review and update the Agency’s Policy and Procedure Manual and look to develop a Performance Evaluation process for the CEO and CFO.

Agency staff working with the Governance Committee began developing a Performance Evaluation process for the officers of the Agency which will be finalized in 2018.

2018 Measurements: A. Assist at least five existing firms with some combination of funding, technical assistance, and problem solving. B. Through some combination of funding, technical assistance, and problem solving secure new Job Creation and Capital Investment Commitments. C. Work cooperatively with local governments and school districts to further economic development progress. D. Continue to work with Fulton County in implementing the Regional Business Plan for Fulton and Montgomery Counties including further development of Regional Business Park. E. Continue to focus on the Exit 29 Redevelopment Project by applying for additional grant opportunities as well implement the work plans associated with the grants received to date on the project. F. Continue Implementing the County and Regional Branding Action Plan to further the Agency’s mission. H. Review and update the Agency’s Policy and Procedure Manual and look develop a Performance Evaluation process for the CEO and CFO.

Authority Stakeholder(s): Authority Stakeholders include the following: (A) The Montgomery County Legislature (B) The residents of Montgomery County, (D) The businesses located or intending to locate in the County, (E) School districts located within the County, (F) the State of New York, and (G) local workforce.

Authority Beneficiaries: The residents, businesses and taxing jurisdictions of Montgomery County

Authority Customers: The Business and Not-for-Profit establishments of Montgomery County

Authority self-evaluation of prior year performance (based upon established measurements): To Be provided by March 31, 2019 related to 2018 performance.

4

Governance Certification:

1. Have the Board Members acknowledged that they have read and understood the mission of the public authority?

Yes

2. Who has the power to appoint management of the public authority?

The Board Members

3. If the Board appoints management, do you have a policy you follow when appointing the management of the public authority.

Yes

4. Briefly describe the role of the Board and the role of management in the implementation of the mission.

The role of the Board regarding the implementation of the public authority’s mission is to provide strategic input, guidance, oversight, mission authorization, policy setting and validation of the authority’s mission, measurements and results. The role of management is to collaborate with the board in strategy development / strategy authorization and to implement established programs, processes, activities and policies to achieve the public authority’s mission.

5. Has the Board acknowledged that they have read and understood the response to each of these questions?

Yes

5

RESOLUTION AUTHORIZING NEW MORTGAGE - 2018 DAIM LOGISTICS INC. PROJECT

A regular meeting of Montgomery County Industrial Development Agency (the “Agency”) was convened in public session at the office of the Agency located at the Old County Courthouse, 9 Park Street, Fonda, New York on March 8, 2018 at 4:30 p.m., local time.

The meeting was called to order by the Chair of the Agency and, upon roll being called, the following members of the Agency were:

PRESENT:

Robert Hoefs Chair John McGlone Vice Chair Robert Harris Treasurer Mark Kowalczyk Member Carol Shineman Member John Snyder Member

ABSENT:

Matthew Beck Secretary Sheila Snell Chief Financial Officer

AGENCY STAFF PRESENT INCLUDED THE FOLLOWING:

Kenneth F. Rose Chief Executive Officer Michele Pawlik Economic Development Program Assistant Andrew Santillo Staff Assistant Karl Gustafson, Jr. Grant Assistant Christopher C. Canada, Esq. Agency Counsel

OTHERS PRESENT:

Roy Dimond Montgomery County Legislator Robert Purtell Montgomery County Legislator Daniel Wilson Montgomery County Legislator

The following resolution was offered by Mark Kowalczyk, seconded by Carol Shineman, to wit:

Resolution No. 18-07

RESOLUTION AUTHORIZING THE EXECUTION BY MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AGENCY OF A CERTAIN MORTGAGE AND RELATED DOCUMENTS IN CONNECTION WITH THE DAIM LOGISTICS INC. PROJECT.

WHEREAS, Montgomery County Industrial Development Agency (the “Agency”) is authorized and empowered by the provisions of Chapter 1030 of 1969 Laws of New York, constituting Title 1 of Article 18-A of the General Municipal Law, Chapter 24 of the Consolidated Laws of New York, as amended (the “Enabling Act”) and Chapter 666 of the 1970 Laws of New York, as amended, constituting

MCIDA Res. 18-07 Section 895-d of said General Municipal Law (said Chapter and the Enabling Act being hereinafter collectively referred to as the “Act”) to promote, develop, encourage and assist in the acquiring, constructing, reconstructing, improving, maintaining, equipping and furnishing of industrial, manufacturing, warehousing, commercial, research, and recreation facilities, among others, for the purpose of promoting, attracting and developing economically sound commerce and industry to advance the job opportunities, health, general prosperity and economic welfare of the people of the State of New York, to improve their prosperity and standard of living, and to prevent unemployment and economic deterioration; and

WHEREAS, to accomplish its stated purposes, the Agency is authorized and empowered under the Act to acquire, reconstruct, renovate and install one or more “projects” (as defined in the Act) or to cause said projects to be acquired, reconstructed, renovated and installed, and to convey said projects or to lease said projects with the obligation to purchase; and

WHEREAS, on December 3, 2009 (the “Lease Closing”), the Agency granted certain financial assistance to DAIM Logistics Inc. (the “Company”) to assist in financing a project (the “Project”) consisting of the following: (A) (1) the acquisition of an interest in an 8.13 acre parcel of land located in the Glen Canal View Business Park, referred to as Lot 3A, in the Town of Glen, Montgomery County, New York (the “Land”), (2) the construction of an approximately 25,000 square foot facility on the Land (the “Facility”), (3) the acquisition and installation of certain machinery and equipment therein and thereon (the “Equipment”) (the Land, the Facility and the Equipment hereinafter collectively referred to as the “Project Facility”), all of the foregoing to constitute facilities for logistical support of the Company’s fleet of vehicles and related activities including an unmanned card activated fuel point; (B) the granting of certain “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing, including potential exemptions from certain sales and use taxes, real property taxes, real property transfer taxes and mortgage recording taxes (collectively, the “Financial Assistance”); and (C) the lease (with an obligation to purchase) or sale of the Project Facility to the Company or such other person as may be designated by the Company and agreed upon by the Agency; and

WHEREAS, simultaneously with the execution and delivery of the Lease Agreement, the Company executed and delivered to the Agency (A) a certain lease to agency dated as of December 1, 2009 (the “Lease to Agency”) by and between the Company, as landlord, and the Agency, as tenant, pursuant to which the Company leased to the Agency a portion of the Land and all improvements now or hereafter located on said portion of the Land (collectively, the “Premises”) for a lease term ending on December 31, 2020; and (B) a bill of sale dated as of December 1, 2009 (the “Bill of Sale to Agency”), which conveyed to the Agency all right, title and interest of the Company in the Equipment; and

WHEREAS, in order to finance a portion of the costs of the Project, the Company obtained a loan (the “Loan”) from The National Union Bank of Kinderhook (the “Lender”), which Loan was secured by a mortgage and security agreement (with assignment of leases and rents) dated October 28, 2010 (the “Mortgage”) from the Agency and the Company to the Lender; and

WHEREAS, by correspondence dated March 7, 2018 (the “Request”), which Request is attached hereto as Exhibit A, the Agency was informed that the Company intends to replace the Loan with a new loan (the “New Loan”) from the Lender, which New Loan will be secured by a mortgage (the “New Mortgage”) from the Agency and the Company to the Lender; and

WHEREAS, in connection with the Request, the Company would like the Agency to enter into the New Mortgage and any other security documents and related documents (collectively, the “New Financing Documents”); and

MCIDA Res. 18-07

WHEREAS, in connection with the execution and delivery of the New Financing Documents, the Agency will not be providing any benefits to the Company via exemption from the mortgage recording tax; and

WHEREAS, pursuant to Article 8 of the Environmental Conservation Law, Chapter 43-B of the Consolidated Laws of New York, as amended (the “SEQR Act”) and the regulations adopted pursuant thereto by the Department of Environmental Conservation of the State of New York, being 6 NYCRR Part 617, as amended (the “Regulations” and collectively with the SEQR Act, “SEQRA”), the Agency must satisfy the requirements contained in SEQRA prior to making a final determination whether to proceed with the Request; and

WHEREAS, pursuant to SEQRA, the Agency has examined the Request in order to make a determination as to whether the Request is subject to SEQRA, and it appears that the Request constitutes a Type II action under SEQRA;

NOW, THEREFORE, BE IT RESOLVED BY THE MEMBERS OF MONTGOMERY COUNTY INDUSTRIAL DEVELOPMENT AGENCY, AS FOLLOWS:

Section 1. Based upon an examination of the Request, the Agency hereby makes the following determinations:

(A) The Request constitutes a “Type II action” pursuant to 6 NYCRR 617.5(c)(23), and therefore that, pursuant to 6 NYCRR 617.6(a)(1)(i), the Agency has no further responsibilities under SEQRA with respect to the Request.

(B) The Agency will not be granting any mortgage recording tax exemption relating to the Request.

(C) That since compliance by the Agency with the Request will not result in the Agency providing more than $100,000 of “financial assistance” (as such quoted term is defined in the Act) to the Company, Section 859-a of the Act does not require a public hearing to be held with respect to the Request.

Section 2. Subject to (A) approval of the form of the New Financing Documents, by Agency Counsel, (B) completion by Agency staff of the internal review of the Project, (C) receipt by the Chief Executive Officer of (1) the Agency’s administrative fee relating to the Request, if any, and (2) counsel’s fees relating to the Request, and (D) satisfaction of the following additional conditions: None, the Agency hereby approves the Request and authorizes the execution by the Agency of the New Financing Documents.

Section 3. Subject to the satisfaction of the conditions described in Section 2 hereof, the Chair (or Vice Chair) of the Agency is hereby authorized to execute and deliver the New Financing Documents to the Company, and, where appropriate, the Secretary (or Assistant Secretary) of the Agency is hereby authorized to affix the seal of the Agency thereto and to attest the same, all in substantially the form thereof presented to this meeting, with such changes, variations, omissions and insertions as the Chair (or Vice Chair) shall approve, the execution thereof by the Chair (or Vice Chair) to constitute conclusive evidence of such approval.

Section 4. The officers, employees and agents of the Agency are hereby authorized and directed for and in the name and on behalf of the Agency to do all acts and things required or provided for by the provisions of the New Financing Documents, and to execute and deliver all such additional

MCIDA Res. 18-07

certificates, instruments and documents, to pay all such fees, charges and expenses and to do all such further acts and things as may be necessary or, in the opinion of the officer, employee or agent acting, desirable and proper to effect the purposes of the foregoing Resolution and to cause compliance by the Agency with all of the terms, covenants and provisions of the New Financing Documents binding upon the Agency.

Section 5. This Resolution shall take effect immediately.

The question of the adoption of the foregoing Resolution was duly put to a vote on roll call, which resulted as follows:

Robert Hoefs VOTING YES John McGlone VOTING YES Robert Harris VOTING YES Mark Kowalczyk VOTING YES Carol Shineman VOTING YES John Snyder VOTING YES

The foregoing Resolution was thereupon declared duly adopted.

[Remainder of page left blank intentionally]

MCIDA Res. 18-07

STATE OF NEW YORK ) ) SS.: COUNTY OF MONTGOMERY )

I, the undersigned (Assistant) Secretary of Montgomery County Industrial Development Agency (the “Agency”), do hereby certify that I have compared the foregoing extract of the minutes of the meeting of the members of the Agency held on March 8, 2018 with the original thereof on file in my office, and that the same is a true and correct copy of said original and of the whole of said original so far as the same relates to the subject matters therein referred to.

I FURTHER CERTIFY that (A) all members of the Agency had due notice of said meeting; (B) said meeting was in all respects duly held; (C) pursuant to Article 7 of the Public Officers Law (the “Open Meetings Law”), said meeting was open to the general public, and due notice of the time and place of said meeting was given in accordance with such Open Meetings Law; and (D) there was a quorum of the members of the Agency present throughout said meeting.

I FURTHER CERTIFY that, as of the date hereof, the attached Resolution is in full force and effect and has not been amended, repealed or rescinded.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the seal of the Agency this 8th day of March, 2018.

______(Assistant) Secretary

(SEAL)

MCIDA Res. 18-07

EXHIBIT A

REQUEST FROM COUNSEL TO COMPANY

See attached.

MCIDA Res. 18-07 A-1

MCIDA Res. 18-07 A-2 MCBDC Strategic Marketing Plan

Build-Grow-Connect-Live 1 Marketing Plan Progress Report- Quarterly Report Sample

• Achievements • Media Press Release for Chalmers Redevelopment Project • Presented at the CEO Round table on Montgomery County Works • Risks • Presented at the Microenterprise Ag Class on Marketing • Governance List - Keep messaging the same between the County and the Chamber • Increased awareness on SM by 18% M/M • StateBook- messaging with the data • Attended Marketing BootCamp • Focus on Business: Erie Cannel House • Escalations • Submitted National Gird Grant for StateBook microsite • Coordination with CE and others to raise awareness of leveraging SM opportunities • Highlight risks of potential dilution of branding efforts through • Upcoming (0-30 Days) variance/underplay of message • Working on expanding MCIDA/MCBDC strategic marking efforts to attract new businesses and to continue assisting existing businesses to grow. • Obtaining video equipment • Attending EDC Annual Conference • Case Studies for MCDC Website. • Focus on Business: Home Helpers • Upcoming (31-60 Days) • Sending Outreach letters. Build-Grow-Connect-Live 6 KPI Reporting-Baseline

Awareness/Perception Social Media Performance Indicators (Unique Instance) KPI 2017 Q1 2018 Q2 2018 Q3 2018 Q4 20178 KPI 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Authored Content 4 4 MCBDC Website 630 2,000 Media Coverage MCBDC related 10 15 MCW Website 530 1,434 Media Coverage, LinkedIn Followers 800 1,680 All County 19 30 Twitter Followers 49 58 Regional w/reference Facebook 846 1,015 4 5 Video 163 163

Build-Grow-Connect-Live 7 KPI Reporting Baseline

• Investment Conversion

Investment Conversion KPI 2017 Q1 2018 Q2 201 Q3 2018 Q4 2018 Inquiries 3 8

Loan and Assistance Efforts 1 2 Site Visit 0 1 New Development 0 0

Build-Grow-Connect-Live 8

GALA Solar Plant

Avangrid Renewables doubled our commercial solar fleet with the Gala Solar Plant in Oregon reaching commercial operation in October, 2017. The 56 MW facility joins a 30 MW project in Colorado and a 20 MW project in Arizona, each of which has a long-term power purchase agreement. Additionally, Gala bolsters our substantial renewable energy footprint in the Pacific Northwest, which features 13 wind farms in operation or under construction with a total capacity of 1,500 MW.

Location: • Prineville, Oregon • Vacant high desert land • Minimally grazed • Non-arable 400 acre parcel

Like many of our renewable projects in the U.S. and around the world, Gala combines proven equipment with advances in technology. This project represents the third time we’ve worked with SunPower technology, and Gala features the first commercial deployment of their latest Oasis tracking system, of which two GW are in use or under construction around the world. With nearly 16,000 piles holding up the high efficiency panels and more than 1,700 single axis trackers, the plant tracks the sun via a smart controller that actively manages its own current flow and adjusts to maximize it constantly throughout the day.

Our expertise as one of the nation’s leading wind farm developers has uniquely prepared us to develop and operate commercial-scale photovoltaic projects. At the peak of construction, roughly 150 people worked to build Gala, and now nearly 160,000 SunPower E-Series 435w panels stand on the project’s footprint.

Avangrid Renewables, LLC is a subsidiary of AVANGRID, Inc. (NYSE: AGR), a diversified energy and utility company with more than $31 billion in assets and operations in 27 states. Avangrid Renewables, LLC is headquartered in Portland, Oregon, and has more than $10 billion of operating assets totaling more than 6 gigawatts of owned and controlled renewable generation capacity, primarily through wind and solar, in 22 states across the United States. For more information, visit www.avangridren.com.

printed on recycled paper COMM 10/2017-1641 Copper Crossing Solar Ranch

Project Overview The Copper Crossing Solar Ranch is located in Florence, in Pinal County, Arizona, about 65 miles southeast of Phoenix. The facility began construction in late 2010 and reached commercial operation in August of 2011. The approximately 66,000 photovoltaic (PV) modules will generate 20 megawatts (MW) of clean, renewable energy and contribute jobs and tax revenue to the local community. SRP (Salt River Project) will purchase all of the solar energy produced at the Copper Crossing Solar Ranch.

Project Details

Capacity: 20 megawatts (MW) Technology: SunPower 320W and 425W panels Panels: 66,384 panels (10-14 panels per string) Strings: 5,400 Trackers: Single axis trackers with 2-4 motors/MW that follow the path of the sun Inverters: 30 (10 SMA 500CP (Compact Power); 20 SMA 760CP) Drive motors: 56 Piers: 12,864 Acreage: 144 acres of former agricultural land now owned by SRP Homes powered: 3,700 Jobs during construction: 200 Local companies employed during construction: 18 Local vendor expenditures during construction: approximately $1 million Estimated annual production: Over 54,000 MWh

printed on recycled paper COPPER CROSSING Solar Ranch

Projected Generation – Monthly Projected Generation – Hourly Average Annual Monthly Output (kWhrs) Average Annual Hourly Output (kWhrs) Average

Close-up of a PV Cell Sunlight

Current n-type semiconductor Front contact

Antireflection coating

Transparent adhesive Cover glass Front contact Current

p-n junction

n-type semiconductor p-type semiconductor p-type semiconductor Back contact Current e = electron Back contact

Source: Illustration of a traditional silicon cell from Aaron Thomason/SRPnet.com How the Energy from the Sun Produces Electricity The most important components of a PV cell are two layers of semiconductor material generally composed of silicon crystals. On its own, crystallized silicon is not a very good conductor of electricity, but when impurities are intentionally added—a process called doping—the stage is set for creating an electric current. The bottom layer of the PV cell is usually doped with boron, which bonds with the silicon to facilitate a positive charge (P). The top layer is doped with phosphorus, which bonds with the silicon to facilitate a negative charge (N).

The surface between the resulting “p-type” and “n-type” semiconductors is called the P-N junction (see the diagram above). Electron movement at this surface produces an electric field that only allows electrons to flow from the p-type layer to the n-type layer.

When sunlight enters the cell, its energy knocks electrons loose in both layers. Because of the opposite charges of the layers, the electrons want to flow from the n-type layer to the p-type layer, but the electric field at the P-N junction prevents this from happening. The presence of an external circuit, however, provides the necessary path for electrons in the n-type layer to travel to the p-type layer. Extremely thin wires running along the top of the n-type layer provide this external circuit, and the electrons flowing through this circuit provide the cell’s owner with a supply of electricity.

Most PV systems consist of individual square cells averaging about four inches on a side. Alone, each cell generates very little power (less than two watts), so they are often grouped together as modules. Modules can then be grouped into larger panels encased in glass or plastic to provide protection from the weather, and these panels, in turn, are either used as separate units or grouped into even larger arrays.

Source: http://www.ucsusa.org/clean_energy/technology_and_impacts/energy_technologies/ how-solar-energy-works.html

COMM 4/2017-1239 San Luis Valley Solar Ranch

Project Overview The San Luis Valley Solar Ranch is located near the town of Mosca, in Alamosa County, Colorado. The facility began construction in November, 2010, and reached commercial operation in March of 2012. The approximately 110,000 photovoltaic (PV) modules will generate 30 megawatts (MW) of clean, renewable energy and contribute jobs and tax revenue to the local community. Xcel Energy will purchase all of the solar energy produced at the San Luis Valley Solar Ranch.

Project Details

Capacity: 30 MW Technology: SunPower 320W panels Panels: 110,000 modules Trackers: Single axis trackers with 2-4 motors/MW that follow the path of the sun Inverters: 19 foundations, each with two SMA 800kw inverters in a full enclosure Drive Motors: 76 Piers: 22,504 Strings: 8,439 Acreage: 220 acres of former privately owned agricultural land Homes powered: 7,500 Jobs During Construction: 200 Estimated annual production: Over 78,000 MWh

printed on recycled paper SAN LUIS VALLEY Solar Ranch

Projected Generation – Monthly Projected Generation – Hourly Generation (kWhrs) Generation (kWhrs)

Month Hour Ending

Economic and Employment Impact The San Luis Valley Solar Ranch will have a positive Long Term Ownership and Strong Balance Sheet impact on Alamosa County and the state of Colorado. Avangrid Renewables finances every project on their Avangrid Renewables is employing approximately 200 balance sheet, which means customers never have people during development and construction, the to face the uncertainty inherent in government loans majority of which come from local communities. or third-party project financing. Our strong balance The project also creates jobs up and down the supply sheet and credit rating is an indication of our ability to chain, like the workers at SMA America in Denver where thrive even in tough markets and means customers 260 people are employed manufacturing solar inverters. and communities can rely on Avangrid Renewables to Between two to four permanent staff will perform be there for the long term. Also, Avangrid Renewables maintenance over the life of the project. The project develops and constructs assets to own and operate will also positively impact state and local community them for their entire project life. This asset-backed services for years to come. Local property, state sales and approach helps customers reduce operational and income taxes from the project are estimated to equal $12 technology risk. million. This revenue will support schools, health, fire, and other critical services in Alamosa County. Avangrid Environmental Renewables will also contribute annually to a community Avangrid Renewables fully development fund administered by Alamosa County. analyzed environmental impacts during the permitting Transmission process. Environmental studies The San Luis Valley Solar Ranch will connect into the performed included traffic, Xcel and Tri-State owned San Luis Valley Substation, transportation, geology, biology, located approximately 4.5 miles west of the project site. hydrology, and visual analyses. Avangrid Renewables worked with the San Luis Valley Rural Electric Cooperative to replace the Coop’s existing Water distribution line on the new 115kV transmission line The San Luis Valley Solar Ranch uses significantly less Avangrid Renewables is building from the project site to water than the previous agricultural use of the land. the substation. This arrangement benefits the residents A solar project uses water only for personnel of Alamosa County by avoiding a need for another stationed at the operations building and transmission line in an already congested corridor. possible panel washing.

Technology Avangrid Renewables is different from many participants in the solar market because it is not a manufacturer of modules - the company manages all renewable energy development and procurement from a technology- neutral perspective. This enables Avangrid Renewables to select the best possible proven technology for each project in order to take advantage of the ongoing improvements in PV technology. Avangrid Renewables has strong relationships with major equipment and component manufacturers in the solar industry and is continuously evaluating the market to determine the best production for the cost—with the goal of passing on cost efficiencies and technology improvement benefits to customers.

COMM 4/2017-1238 Solar Energy Development

Avangrid Renewables is at the forefront of transforming the way the world produces energy. Strongly positioned to develop, build, and operate the clean energy infrastructure of the future, we are already generating power from nearly 60 renewable energy projects in the United States and are helping lead America’s transition to a competitive, clean energy future.

Avangrid Renewables, LLC Avangrid Renewables’ commitment to renewable • Headquartered in Portland, Oregon energy features a growing solar business. Our expertise • More than $10 billion of operating assets as one of the nation’s leading wind farm developers in 20 U.S. states has uniquely prepared the company to develop and • Second-largest provider of clean, renewable wind operate commercial-scale photovoltaic (“PV”) projects. power in the U.S. with more than 6,000 MW of owned We leverage our success working with landowners, and controlled wind and facilities government agencies, permitting authorities and • Avangrid Renewables recently changed its legal name customers to thoughtfully and competitively deliver from Iberdrola Renewables solar projects to the energy grid. The company’s • Subsidiary of AVANGRID, Inc. (NYSE: AGR), and part of development portfolio includes federal, state and the Iberdrola Group private lands for commercial-scale PV projects, and features projects in multiple states either in operation AVANGRID, Inc. or under construction, along with a signifi cant • Diversifi ed energy and development pipeline of new projects in permitting utility company across the country. • $30 billion in assets • Operations in 25 states

Iberdrola, S. A. • Largest renewable asset base of any company in the world – more than 14,000 megawatts (MW) of renewable energy spread across a dozen countries. • 150-year history • Employs more than 28,000 people in nearly 40 countries • The environment and sustainable development are at the center of its global strategy LEADING IN RENEWABLE ENERGY means opening new markets and building new generation.

Community Energy pioneered four of the largest solar projects east of the Rockies to introduce the next generation of affordable, clean power at scale.

Founded with the vision that leading the way on renewable energy pays off now and in the future – for current investors and the next generation. Community Energy has always been in the forefront. Under the leadership of its founders, Community Energy moves clean, renewable power onto the playing field in force. LEADERS IN CLEAN ENERGY

North Star Solar, MN - 100 MW Photo Credit: D. E. Shaw Renewable Investments Amazon Solar Farm US East, VA - 80 MW

Community Energy Founders Brent Alderfer and Eric Blank

Main Office: Three Radnor Corporate Center, Suite 300, 100 Matsonford Road, Radnor, PA 19087 1120 Pearl Street, Suite 200, Boulder, CO 80302 151 E. Rosemary Street, Suite 202, Chapel Hill, NC 27514 we never run out of energy www.communityenergy100.com Comanche Solar, CO - 120 MW Butler Solar Facility, GA - 103 MW 1.866.946.3123 Photo Credit: Construction Contractor, RES America Construction Inc. Photo Credit: Southern Power Community Energy founders eye Named AWEA’s Market Maker of the Completes development and Acquired by Iberdrola as entry point Founders spin out of Iberdrola Completes the groundbreaking Combines solar development and Announces largest solar project Announces largest corporate PPA Founder and CEO, Brent Alderfer, wins newly deregulated electric markets year for building wind power demand financing of the nation’s first coastal for the Spanish energy company’s to launch independent utility-scale Keystone Solar Project, awarded retail marketing expertise to develop east of the Rockies, the 120 MW for solar power outside California with Ernst & Young Entrepreneur of the Year to leverage demand for clean through voluntary market REC sales wind farm and expands wind power U.S. business enabling Community’s solar development business and Project of Distinction at 2013 PV and operate community solar projects Comanche Solar Project, to deliver Amazon Web Services for an 80 MW Award in Greater Philadelphia – recognizing energy and launch marketing and utility green power programs. development into new markets management team to complete build projects. America East. in Colorado Solar Gardens program. competitive long-term wholesale project in Virginia later acquired and the company’s success in developing of Pennsylvania’s first wind farm. nationwide. construction on 700 MW of wind power. power to Colorado ratepayers. built by Dominion Energy, Inc. 700 MW of operating U.S. solar projects.

1999 2002 2005 2006 2009 2012 2013 2014 2015 2016 new markets new generation

Leadership Innovation 4,000+ MW Under Development Track Record Partners on 40,000+ Acres in 20 States • Led the development of the first • Opening new energy markets to Minnesota • Over 15 years of successful project • Power Purchase Agreements include utility-scale solar projects outside develop over 700 MW of utility-scale Solar Total development and more than 1,400 Amazon Web Services, Georgia of California, including the largest solar power and 700 MW of wind MW of operating projects open the Power, Exelon, NIPSCO, IPL, and solar projects in the Midwest, the power since the early 2000s. door for long-term capital investment multiple affiliates of Xcel Energy. Mid-Atlantic, and the Mountain West 105 and growth in renewable energy. • Pioneering REC marketing and utility • Long-term project finance regions; helping to accelerate the MW green power programs to ignite the • Working with leading utilities partners include Dominion deployment and commercialization Comanche demand for clean energy nationwide. and prominent commercial and Energy, Inc., Southern Company of solar technologies at scale. Solar Virginia institutional partners, Community and Constellation Energy. • Developing, financing, operating • Led the development of the first Solar Total Energy continues to innovate and and managing some of the nation’s • Utility green power program partners utility-scale solar projects in Colorado, 120 expand the renewable energy market. first Community Solar projects with include PECO, NYSEG, RG&E Georgia, Minnesota and Virginia and MW residential and commercial customer 180 • Successful 80+ MW solar projects and National Grid. the first wind farms in New Jersey, subscriptions. MW were originated, developed, and Illinois, Missouri and New Hampshire. • Behind-the-meter solar project built in MN, GA, VA, and CO. partners include Clarkson University, • Led the launch and management of Smith College, and Temple University. some of the first and most successful North utility green power programs in the country. Carolina Solar Over 32 projects 1,400 MW Totaling Community Energy was founded in 1999 to ignite the market 105 Community Energy continues to innovate and and build the supply of clean, fuel-free electricity. of wind and solar MW lead renewable energy into new markets. power developed Georgia and operating Solar Total across the 103 MW U.S.

Wind projects developed Solar projects developed Solar projects under development

Governor of Virginia Terry McAuliffe joins Community Energy’s VP of Development Tom Tuffey and President Brent Alderfer, and Partners and sponsors celebrate the Linda Thomas-Glover, President of Eastern Shore Community College Sterling Solar, MA Keystone Solar Project in Lancaster, PA. Amazon Solar Farm US East, VA to announce Community Energy’s Amazon Solar Farm US East. U.S. Power Assets

1 - Klondike IIIa 1 - Buffalo Ridge I 50.4 MW 6 - Elm Creek I 99 MW 10 - Winnebago 20 MW 76.5 MW WIND 2 - Buffalo Ridge II 210 MW 7 - Elm Creek II 148.8 MW 11 - Top of Iowa II 80 MW 2 - Hay Canyon Tacoma PROJECTS 3 - MinnDakota 150 MW 8 - Trimont 101 MW 12 - Barton 160 MW Maple Ridge II 100.8 MW 55 MW PPA 4 - Moraine I 51 MW 9 - Flying Cloud 43.5 MW 13 - New Harvest 100 MW 45.4 MW owned 3 – Klondike I 5 - Moraine II 49.5 MW (91 MW JV project) 24 MW 4 - Klondike III Maple Ridge I 223.6 MW 115.5 MW owned 5 - Star Point 8 Rugby (231 MW JV project) 7 98.7 MW 9 149.1 MW Groton 6 - Klondike II 1 6 10 Hardscrabble 2 3 4 5 48 MW 75 MW 11 74 MW 7 - Big Horn I Klamath Cogeneration Lempster 1 2 199.5 MW 536 MW 24 MW Klamath Peakers 6 8 - Big Horn II 3 4 5 7 8 50 MW 100 MW 12 Hoosac 9 10 11 9 - Juniper Canyon Pleasant Valley 28.5 MW 151.2 MW 144 MW PPA 13 10 - Pebble Springs Providence Heights High Winds 162 MW PPA Streator Locust Ridge I 72 MW 98.7 MW Cayuga Ridge 26 MW 11 - Leaning Juniper II 300 MW 201.3 MW Locust Ridge II Twin Buttes Elk River Farmers City 102 MW Shiloh 150 MW 75 MW 150 MW 146 MW San Luis Amazon US East 30 MW 208 MW

Casselman Colorado Green 34.5 MW Dry Lake I 81 MW owned 63 MW (162 MW JV South Chestnut project) 46 MW Manzana 189 MW Blue Creek Barton Chapel 304 MW 120 MW Mountain View III 22.4 MW Copper Crossing Dillon Dry Lake II 20 MW Baffin 45 MW 65.1 MW 202 MW

Peñascal II 201.6 MW Wind generation Peñascal I 201.6 MW Thermal generation Biomass generation Solar generation

Avangrid Renewables works hard to earn the trust and respect of the communities where we do business. We believe in developing and maintaining strong relationships with landowners and local communities, as long-term project ownership is a key part of our strategic business model. We are one the few vertically integrated developers in the U.S., meaning we develop, build, own and operate these power plants. We take pride in the long-term relationships we’ve built with thousands of landowners in dozens of communities, and hope to one day be a part of your community too.

Contact Us To fi nd out more about Avangrid Renewables’ solar energy development capabilities, visit www.avangridren.com or one of our social media channels: • twitter.com/AvangridRen • facebook.com/AvangridRen • instagram.com/AvangridRen • youtube.com/c/AvangridRenewables

COMM 1/2017-0902 printed on recycled paper