Middletown LDC approves minutes and vendor draws after engineering review, confirms funds held in reserve

The City of Middletown Local Development Corporation voted to accept earlier minutes and to approve vendor draw requests following a review by project engineers and monitoring consultants.

Board action and oversight: At the meeting, members moved to accept the minutes labeled '32626.' Mr. Paul Johnson made the motion and Maria Brunie seconded; the board voiced assent. Later, Johnson moved to approve a set of bills and draw requests and the motion carried on a board voice vote.

Why it matters: The draw requests include a sizable second draw and a third draw that together cover multiple contractors and consultants on the redevelopment project. Board members emphasized that invoices were reviewed by Fusco Engineering, that Commissioner Tuil also signed off, and that Moran Consulting is providing ongoing invoice monitoring — steps the board cited as support for releasing project funds.

Details of the requests: The board discussed a number of line items: a City reimbursement for 'deluxe checks' listed as $24,319; a National Trust asset management fee of $10,000; a second draw totaling $1,226,818.89 (itemized to Butler Construction, Dynamic Systems HVAC, Pantel Electric, Fusco Engineering, Moran Consultants, and Ryan LLC New York State Historic Tax Credit Consulting); and a third draw totaling $405,551 that included advanced testing for air monitoring and additional contractor amounts. A board member stated that written reports documenting the reviews were available.

Questions about the money’s custody: During discussion a member asked where the funds are held. The chair replied that the funds that left the city toward the project are sitting under the LDC in a reserve and that draws are processed through multiple entities and released to vendors after approval and completion of work. A treasurer present commented, “Well, she's going to cut the check after they approve it,” describing the administrative step that follows board authorization.

Votes and procedure: The minutes acceptance and the bills/draws were put to voice votes and recorded as carried by members in attendance. The transcript records three members voting in favor and one member absent on roll call.

Other business and next meeting: The board recorded no additional reports or old business. Members noted a resolution had been approved as part of the earlier items. The board confirmed its regular meeting schedule as the third Thursday of the month at 4:00 p.m. and then adjourned.

What comes next: The approved draws will proceed to administrative processing for check issuance and vendor payment, subject to the monitoring and documentation the board referenced.