ECONOMIC DEVELOPMENT POWER

ALLOCATION BOARD

MINUTES

June 27, 2006

Video Conference – 9:00 a.m.

New York Power Authority Offices:

123 Main Street, 16^th Floor, White Plains, NY

30 South Pearl Street, 10^th Floor, Albany, NY

Niagara Power Project, 5777 Lewiston Road, Lewiston, NY

1. Approval of the Minutes of the Meeting of May 23, 2006

2. Power for Jobs Extended Benefits Recommendations

for Electricity Savings Reimbursements

A. Companies in Job Compliance

Con Edison – Service Territory
Charmer Industries Astoria – Queens County Columbia University – Trustees New York – New York County Edison Price Lighting, Inc. New York – New York County Greater Jamaica Development Corp. Jamaica – Queens County Lincoln Center for the Performing Arts New York – New York County Long Island Jewish Medical Center Manhasset – Nassau County Memorial Sloan-Kettering Cancer Center New York – New York County	Mount Sinai Medical Center New York – New York County New York Presbyterian Hospital New York – New York County North General Hospital New York – New York County Pepsi Cola Bottling Company College Point – Queens County S.R. Guggenheim Museum New York – New York County The Harlem School for the Arts New York – New York County The Joyce Theater Foundation New York – New York County
National Grid – Service Territory
Borg Warner-Cortland Cortland – Cortland County Bristol-Myers Squibb East Syracuse – Onondaga County Clarkson University Potsdam – St. Lawrence County Diemolding Corporation Canastota – Madison County Edward John Noble Hospital Gouverneur – St. Lawrence County Fiber Glass Industries Amsterdam – Herkimer County Lewis County General Hospital Lowville – Lewis County		Natrium Products, Inc. Cortland – Cortland County OAB Holdings, Inc. Buffalo – Erie County Organichem, Inc. Rensselaer – Rensselaer County Queensboro Farm Products Canastota – Madison County Robison & Smith, Inc. Gloversville – Fulton County Sorrento Lactalis Buffalo – Erie County Syracuse University Syracuse – Onondaga County
New York State Electric and Gas – Service Territory
Agri-Mark, Inc. Chateaugay – Franklin County Borg Warner – Ithaca Ithaca – Tompkins County Candlelight Cabinetry, Inc. Lockport – Niagara County		Consumers Beverages, Inc. Buffalo – Erie County Seneca Foods Corporation – Geneva Geneva – Ontario County

B. Companies Not in Job Compliance

Con Edison – Service Territory
AT&T White Plains – Westchester County	Norampac - NYC Maspeth - Queens County
National Grid – Service Territory
CWM Chemical Services, LLC Model City – Niagara County Dielectric Laboratories, Inc. Cazenovia – Madison County Fitzpatrick & Weller, Inc. Ellicottville – Cattaraugus County Kilian Manufacturing Corporation Syracuse – Onondaga Lydall Manning Green Island – Albany County McLane Eastern Baldwinsville – Onondaga County	Quad Graphics, Inc. Saratoga Springs – Saratoga County Standard Manufacturing Troy – Rensselaer County Syracuse China Syracuse – Onondaga County Syroco, Inc. – A Subsidiary of Vassallo Industries Baldwinsville – Onondaga County Turbine Components Technologies Whitesboro – Oneida County
New York State Electric & Gas – Service Territory
A. T. Reynolds & Sons, Inc. Kiamesha Lake – Sullivan County Audio Sears Stamford – Delaware County	Endicott Interconnect Technologies Endicott – Broome County Vail Ballou Press, Inc. Binghamton – Broome County
Rochester Gas & Electric – Service Territory
International Business Machines – Rochester Rochester – Monroe County

3. Power for Jobs Extended Benefits Reconsideration

Electricity Savings Reimbursements:

Dielectric Laboratories, Inc.

Higbee, Inc.

IE Electronics Corp.

Benefits to Remain at Reduced Amount:

Kraft Foods

4. Transfers of Industrial Power

Harding Manufacturing Corporation

Seybert Nicholas Printing Group, LP

Spancrete Northeast, Inc.

OTHER BUSINESS

5. Next Meeting

A regular meeting of the Economic Development Power Allocation Board was held via video conference at the following participating locations:

1) New York Power Authority, 30 South Pearl Street, Albany NY

2) New York Power Authority, 123 Main Street, White Plains, NY

3) Niagara Power Project, 5777 Lewiston Road, Lewiston, NY

The following Members of the Board were present at the following locations:

Frank S. McCullough, Jr., Chairman (White Plains, NY)

Bernard P. McGarry, Member (Albany, NY)

James A. Duncan, Member, (Lewiston, NY)

Kevin S. Corbett, Member (Absent)

Also in attendance were:

Thomas J. Kelly Executive Vice President and General Counsel, NYPA

Louise M. Morman Senior Vice President – Marketing, Economic Development
and Supply Planning, NYPA

Anne B. Cahill Corporate Secretary, NYPA

Joseph C. Carline Assistant General Counsel, NYPA

Angela D. Graves Deputy Corporate Secretary, NYPA

John B. Hamor Executive Director – State Governmental Relations, NYPA

James F. Pasquale Director – Business Power Allocations and Regulation, NYPA

Michael A. Saltzman Director – Media Relations, NYPA

Anthony C. Savino Manager – Business Power Allocations and Compliance, NYPA

Mary Jean Frank Associate Corporate Secretary, NYPA

Jeffrey Carey Special Assistant to the President and Chief Executive Officer, NYPA

Michael J. Santarcangelo Director – Energy Policy, Empire State Development Corporation

1. Adoption of Minutes

The minutes of the meeting of May 23, 2006, were unanimously adopted.

2. Power for Jobs Extended Benefits Recommendations
for Electricity Savings Reimbursements                      

The members of the Board reconsidered the 51 applications for extended benefits recommendations for electricity savings reimbursements listed below for Power for Jobs. Mr. Pasquale explained that some 60,141 jobs would be impacted. See Exhibits “2-A” and “2-B.”

The following resolution was unanimously adopted by members of the Board present.

WHEREAS, the following entities have applied for extended benefits recommendations for electricity savings reimbursements under the Power for Jobs program:

COMPANIES IN JOB COMPLIANCE

Con Edison – Service Territory
Charmer Industries Astoria – Queens County Columbia University – Trustees New York – New York County Edison Price Lighting, Inc. New York – New York County Greater Jamaica Development Corp. Jamaica – Queens County Lincoln Center for the Performing Arts New York – New York County Long Island Jewish Medical Center Manhasset – Nassau County Memorial Sloan-Kettering Cancer Center New York – New York County	Mount Sinai Medical Center New York – New York County New York Presbyterian Hospital New York – New York County North General Hospital New York – New York County Pepsi Cola Bottling Company College Point – Queens County S.R. Guggenheim Museum New York – New York County The Harlem School for the Arts New York – New York County The Joyce Theater Foundation New York – New York County
National Grid – Service Territory
Borg Warner-Cortland Cortland – Cortland County Bristol-Myers Squibb East Syracuse – Onondaga County Clarkson University Potsdam – St. Lawrence County Diemolding Corporation Canastota – Madison County Edward John Noble Hospital Gouverneur – St. Lawrence County Fiber Glass In