ST. LAWRENCE COUNTY INDUSTRIAL DEVELOPMENT AGENCY
LOCAL DEVELOPMENT CORPORATION
Resolution No. LDC-15-09-18
September 24, 2015
AUTHORIZING A LOAN OF UP TO $450,000 TO ANSEN CORPORATION
WHEREAS, the St. Lawrence County Industrial Development Agency Local Development
Corporation (the “SLCIDA-LDC”) was formed by the St. Lawrence County Industrial Development Agency
to relieve and reduce unemployment, to promote and to provide for additional and maximum employment, to
better and maintain job opportunities, to instruct or train individuals to improve or to develop their capabilities
for jobs, to carry on scientific research for the purpose of aiding the community of St. Lawrence County, New
York by attracting industry to the community and by encouraging the development of, or retention of, an
industry in the community, and to lessen the burdens of government and to act in the public interest, thus
performing an essential governmental function, and
WHEREAS, Ansen Corporation (the “Company”) has applied to the SLCIDA-LDC for up to
$450,000 in loan financing to acquire an approximately 5.0 acre parcel of land, containing a 40,000 sq. ft.
building located on a at 830 Proctor Avenue in the City of Ogdensburg, St. Lawrence County, New York, being
more particularly described as TMID No. 48.002-1-9 (the “Facility”), and
WHEREAS, the purchase of this Facility will enable the Company to expand its current operation
and focus on upper level electronics assembly, and is expected to create 30 new jobs, and
WHEREAS, this funding assistance, combined with a $650,000 company investment, will enable the
Company to bring work back to New York State for a Syracuse-based customer and enable the Company to
seek out other production work, and
WHEREAS, the acquisition of the Facility will return a vacant building back into active use and
(through the course of a partial real property tax abatement with the St. Lawrence County Industrial
Development Agency) back on the local tax rolls,
NOW, THEREFORE, BE IT RESOLVED by the St. Lawrence County Industrial Development
Agency Local Development Corporation that it will lend up to $450,000 to Ansen Corporation, and
BE IT FURTHER RESOLVED, that staff shall be authorized to derive the funds for said loan of
up to $450,000 from among those funding sources to which the SLCIDA-LDC may have access through its
own resources or through funds which the SLCIDA-LDC administers, and
BE IT FURTHER RESOLVED that the SLCIDA-LDC, should it desire, may elect to participate
with outside agencies to finance a portion of the loan,
BE IT FURTHER RESOLVED that said loan of up to $450,000 shall be subject substantially to
the following terms and conditions:
1. Principal
2. Interest Rate
3. Term
4. Security
5. Other
Up to $450,000
One-half of Prime Rate plus 1, the actual rate to be determined at closing and
adjusted at the end of the fifth year
Ten (10) year amortization schedule
First position mortgage on the Facility at 830 Proctor Avenue, Ogdensburg, New
York.
 Evidence of company equity in the project of a least $650,000.
 The Company agrees to create 30 FTE new jobs over the next three years.
 Evidence of corporation borrowing authorization.
BE IT FURTHER RESOLVED that the St. Lawrence County Industrial Development Agency
Local Development Corporation authorizes the creation, execution and/or delivery of any and all documents
and/or budget accounts that may be required to effect the transaction contemplated by this resolution.
Move:
Second:
VOTE
Blevins
Burke
Hall
LaBaff
McMahon
Staples
Weekes
LaBaff
Hall
AYE
NAY
ABSTAIN
ABSENT
X
X
I HEREBY CERTIFY that I have compared this copy of this
Resolution with the original record in this office, and that the
same is a correct transcript thereof and of the whole of said
original record.
X
X
X
X
X
/s/
Natalie Sweatland
September 24, 2015