Sandra Bleckman

The meeting agenda included the adoption of the current agenda and several discussion items. Key discussions focused on the Chief Risk and Resiliency Officer's overview, which covered mid-year enterprise risk summaries for both NYPA and the Canals Corporation, updates on the Merchant Hedging Strategy and Credit Risk Management, a comprehensive Cyber Security Update, and an overview of Risk and Reduction at New York State Canal Corporation (NYSCC) through Shared Services. The mid-year risk summaries indicated that NYPA's risk profile remained within appetite, while the Canals' risk profile improved with no high-rated risks remaining, largely due to formalization of asset management and risk mitigation efforts. Discussions on the Merchant Hedging Strategy detailed progress toward hedging targets for energy and capacity volumes through 2028. The Cyber Security Update confirmed no material impact from increased geopolitical threats due to robust protective measures, including user training, resilience testing, and external partnerships. The shared services update detailed organizational improvements in Asset Management, Dam Safety, Environmental Health and Safety, and Public, Governmental and Media Relations for NYSCC.

The Regular Meeting addressed several key items, primarily within the Consent Agenda and Discussion Agenda. The Consent Agenda included the approval of governance matters, such as the proposed schedule of Trustees' Meetings for 2015, and several power allocation contracts related to Western New York Hydropower and Preservation Power for entities including Innomotive Solutions Group, LLC, Royal Plastix USA, LLC, and Blackrock, Inc. (The contract for Corning, Inc. failed to pass due to a conflict of interest). Also approved under the Consent Agenda were tariff amendments concerning Firm Market Power Service and updates to Standby Rate Provisions for Governmental Customers, as well as proposed retail rate increases for the Village of Tupper Lake and the City of Sherrill. The Discussion Agenda involved staff reports and significant power allocation items, including a Notice of Proposed Rulemaking for an increase in New York City Governmental Customer Fixed Costs and a Notice of Proposed Rulemaking for an 8.00% rate increase for Westchester County Governmental Customers. Other discussion items included the 2015 Operating Budget and Four-Year Financial Plan, Recharge New York Power Allocations, and the awarding of Fund Benefits from the Western New York Economic Development Fund.

The meeting included the approval of the agenda and a declaration that no conflicts of interest needed disclosure. The board approved the minutes from the October 29, 2025 meeting. A fund update was provided, detailing total deposits, accrued interest, disbursements, and awarded benefits for standard and energy-related projects, noting available funds for future awards. Staff recommended and the board subsequently approved two fund benefit awards: a $1.5 million award to Wavepoint 3PL, Inc. for the acquisition and redevelopment of a large industrial facility in Buffalo, which supports job creation and smart growth principles; and a $49,996 award to Preservation Buffalo Niagara (PBN) for the rehabilitation and adaptive reuse of the Eliza Cirk House, which advances smart growth through historic preservation and complements local tourism initiatives. The meeting adjourned after scheduling the next meeting for April 7, 2026.

The meeting included approval of the agenda and disclosure of conflicts of interest by board members regarding specific funding recommendations. A fund update was provided detailing total deposits, interest earned, disbursements, and the current fund balance as of December 2025. The board considered two award recommendations from the Northern New York Economic Development Fund round 16. The first recommendation was to award $230,000 to the St. Lawrence County Chamber of Commerce for a three-year destination development, stewardship, and marketing plan aimed at increasing visitor demand and business opportunities. The second recommendation involved awarding $300,000 to Trackside Rentals LLC to redevelop a derelict parcel into a professional office complex expected to create at least 10 full-time positions. Both funding recommendations were adopted after relevant abstentions due to conflicts of interest. The board also briefly discussed an in-eligible project proposal related to Pickins Hall.

The meeting covered the organization's plans for 2026, including executing the full agenda for the year. Key discussions included updates on the Governor's State of the State address concerning energy initiatives, such as the announcement of the nuclear reliability backbone requiring 4 gigawatts of new nuclear capacity and the 'NextGen Nuclear New York' workforce development program, supported by a $100 million allocation. The Board will also update regulations to speed up project deployment. Operational updates included restarting the first turbine upgrade under the NextGen Niagara program and advancements in renewable generation, highlighted by the largest carport solar installation in the US. The agenda also featured discussions on securing exclusivity agreements for 350 megawatts of solar projects and ongoing efforts toward advanced nuclear deployment, evidenced by strong interest from eight communities and 23 development partners. Transmission updates focused on the Smart Path Connect project energizing later in 2026 and the Propel New York Energy project planning construction to start this year. The Board also addressed the completion of the Msina transmission life extension project. Furthermore, the organization's comprehensive Artificial Intelligence strategy, including establishing an AI Center of Excellence and deploying a modern data platform, was reviewed, alongside noting Micron's groundbreaking ceremony in Clay, New York, for its semiconductor facility. Finally, positive results from the 2025 employee engagement survey were shared, showing the highest engagement level recorded since 2015.