Empire State Development

The directors discussed the adoption of the 2026 revised procurement guidelines, which includes updates to internal/external links, additions regarding memberships and sponsorships, and guidance on new state finance laws. They authorized a contract amendment for management services for the Niagara Falls Convention Center and Old Fall Street. Additionally, the board approved contract amendments for consultant services related to the Niagara Falls Heritage Gateway Design and the Gorge Gateway Park and Hydraulic Power Plaza site network, following the discovery of unforeseen site conditions, such as an unmarked electrical line. Finally, the board authorized the acquisition of 47 2nd Street in Niagara Falls to facilitate future development.

The Board of Directors authorized a wide range of corporate actions focused on regional economic development and infrastructure initiatives. Key decisions included the approval of capital and working capital grants for diverse projects, such as site development at technology parks, downtown revitalization efforts, and affordable housing construction. The Board also approved updates to the Affordable Housing Connectivity Program guidelines, authorized investment allocations for New York Ventures, and ratified financing projects via the Empire State New Market Corporation. Administrative actions included the approval of various service contracts related to marketing, IT infrastructure, and grant administration, alongside a review of fiscal budget variance reports.

The meeting addressed three primary agenda items. First, the Board authorized a contract amendment with Dales Marine Service for marina operations, allowing the operator to utilize a portion of contract funds to acquire necessary equipment. Second, approval was granted for a construction contract with Union Concrete and Construction Corporation for phase one of the Buffalo Cruise Terminal improvements, encompassing extensive site work including seawall repairs and infrastructure installation. Finally, the Board approved a 20-year, non-exclusive license agreement with American Cruise Line, establishing terms for commercial vessel docking and related operations at the Buffalo Cruise Terminal.

The board authorized the adoption of a general project plan for the Harvest Prime project, which involves allocating federal new markets tax credits to modernize food distribution infrastructure. Additionally, the board approved a general project plan for the Walgreens project, providing tax credit allocations to support the continued operation of three pharmacy locations at risk of closure. Finally, the board authorized an amendment to the accounting services contract with CohnReznick LLP, increasing the total contract amount to accommodate the increased volume and complexity of the corporation's work.

The Directors reviewed and approved several items, including the operating budget for the 2026-2027 fiscal year. They authorized the execution of an allocation agreement and the formation of five additional subsidiary community development entities. Additionally, the board approved sub-allocations of federal new markets tax credits to finance equipment, inventory, and working capital for a new Bogopa food store in the Inwood neighborhood of New York City and for the rehabilitation of the historic Lincoln Recovery Center in the Bronx.