1.                   Adoption of Minutes

The minutes of the meeting of January 30, 2006, were unanimously adopted.

2.                   Power for Jobs Extended Benefits

        Recommendation for Contract Extension

The members of the Board considered one application for extended benefits recommendations for contract extension for one company in job compliance and one company not in job compliance listed below for Power for Jobs.  Mr. Pasquale explained that some 300 jobs would be impacted.  See Exhibit “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 a contract extension under the Power for Jobs program:

COMPANY IN JOB COMPLIANCE

COMPANY NOT IN JOB COMPLIANCE

NOW THEREFORE BE IT RESOLVED, That the Board hereby finds and determines that such application meets the requirements of the Power for Jobs legislation contained in Chapter 316 of the Laws of 1997; Chapter 386 of the Laws of 1998; Chapter 63 of the Laws of 2000; Chapter 226 of the Laws of 2002; Chapter 59 of the Laws of 2004; and Chapter 313 of the Laws of 2005, would advance the public policy set forth in Section 189(i) of the Economic Development Law to provide effective incentives to promote economic development, maintain and develop jobs, and encourage new capital investment throughout New York State; and be it further

RESOLVED, That the Board recommends to the Power Authority of the State of New York two applications for extended benefits recommendations for contract extensions discussed herein totaling
1,050 kW until December 31, 2006.

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

The members of the Board reconsidered the 55 applications for full or partial reinstatement of extended benefits recommendations for contract extensions listed below for Power for Jobs.  Mr. Pasquale explained that some 49,108 jobs would be impacted.  See Exhibits “3-A” and “3-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

COMPANIES NOT IN JOB COMPLIANCE

NOW THEREFORE BE IT RESOLVED, That the Board hereby finds and determines that such applications meet the requirements of the extended benefits provisions of the Power for Jobs legislation contained in Article 6 of the Economic Development Law as amended by Chapter 313 of the Laws of 2005; and be it further

RESOLVED, That the Board recommends to the Power Authority of the State of New York the 55 applications for extended benefits recommendations for electricity savings reimbursements discussed herein totaling 60,747 kW until December 31, 2006.

4.                                     Power for Jobs Extended Benefits Reconsideration

The members of the Board considered the four applications for full or partial reconsideration for contract extensions, and two applications for full or partial reconsideration for electricity savings reimbursements listed below for Power for Jobs.  Mr. Pasquale explained that some 2,295 jobs would be impacted.  See Exhibits “4-A,” and
“4-B.”

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

WHEREAS, the following entities have applied for reconsideration for full or partial reinstatement under the Power for Jobs program:

NOW THEREFORE BE IT RESOLVED, That the Board hereby finds and determines that such applications meet the requirements of the extended benefits provisions of the Power for Jobs legislation contained in Article 6 of the Economic Development Law as amended by Chapter 313 of the Laws of 2005; and be it further

RESOLVED, That the Board recommends to the Power Authority of the State of New York the four applications for full or partial reconsideration for contract extensions; two applications for full or partial reconsideration for electricity savings reimbursements discussed herein totaling 5,965 kW until December 31, 2006.

5.                                     Transfers of Industrial Power

Summary

The members of the Economic Development Power Allocation Board (Power Allocation Board) are requested to recommend approval to the companies as detailed below.

BACKGROUND

The Power Allocation Board is requesting to approve the transfer of power allocations for five existing customers have changed names and or locations for various business reasons. The Power Allocation Board has approved transfers of this nature at past meetings.

DISCUSSION

The proposed transferees are as follows:

CEN Electronics, which has a facility in Caledonia, manufactures industrial battery chargers for forklifts, pallet jacks and other battery-powered transportation equipment.  At their September 28, 1998 meeting, the Trustees approved CEN Electronics for a 300 kW Power for Jobs (“PFJ”) allocation in return for 121 jobs.  The company was purchased by a private owner and the name was changed to Applied Energy Solutions (“AES”).  The new company maintains the Caledonia facility’s operations and produces the same products as the original company.  In August 2005, the company applied for extended PFJ benefits in the form of an electricity savings reimbursement.  AES will receive a reduced level of extended benefits proportional to its job shortfall through December 31, 2006, the sunset date for the PFJ program.

CWM Chemical Services, Inc. (“CWM”) located in Model City, NY is a chemical and industrial waste management facility offering waste treatment, storage, and disposal solutions.  At the June 29, 1999, trustee meeting, CWM was approved for a 400 kW Power for Jobs (“PFJ”) allocation in return for 100 jobs.  CWM created CWM Chemical Services, LLC as a wholly- owned subsidiary of its parent corporation, Waste Management, Inc.  There was no purchase, rather only a contribution of assets to the new entity for business purposes.  The new company’s products and services, facility operations and ownership remain unchanged.  In August 2005, the company applied for extended PFJ benefits in the form of an electricity savings reimbursement.  CWM Chemical Services, LLC will receive a reduced level of extended benefits proportional to its job shortfall through the remainder of the PFJ program, December 31, 2006.

Fala Direct Marketing, Inc. (“Fala”) is a direct marketing production services company in Melville.  At their September 30, 1998 meeting, the Trustees approved Fala for a 1,500 kW PFJ allocation in return for 554 jobs.  In July 2005, the company was acquired in an operating asset purchase by IWCO Direct, a Minnesota firm.  The new company’s products and services and New York facility operations remain unchanged.  On September 20, 2005, the Trustees approved an extension of the company’s PFJ contract through December 31, 2006, at a reduced level of 1,150 kW proportional to its job shortfall.  IWCO Direct agrees to honor all terms and conditions of its extended PFJ contract.

Hammer Lithograph Corp., with a facility in Rochester, is a multicolor packaging printer of labels, box wraps and premium packets for consumer products.  At their March 31, 1998 meeting, the Trustees approved Hammer Lithograph for a 900 kW PFJ allocation in return for 222 jobs.  In July 2005, the company changed its name to Hammer Packaging Corp. (“Hammer”).  The company name was changed when it consolidated its business with New Frontier Packaging, a flexographic packaging printing operation.  The new company’s products, services, facility operations and ownership remain unchanged.  On September 20, 2005, the Trustees approved an extension of the company’s PFJ contract through December 31, 2006.  Hammer is in job compliance and agrees to honor its job commitments and all terms and conditions of its contract.

Utica Corporation manufactures a variety of engine-ready components for use in the aerospace and industrial gas turbine industries at its facility located in Whitesboro, New York.  At the June 26, 2001, trustee meeting, Utica Corporation was approved for a 1,200 kW Power for Jobs (“PFJ”) allocation in return for 395 jobs.  The company’s ownership has acquired other operations across the country and changed its corporate name to Turbine Engine Components Technologies (“TECT”), in order to build and brand the new operations under the TECT name.  The new company’s ownership, products and services remain unchanged.  In August 2005, the company applied for extended PFJ benefits in the form of an electricity savings reimbursement.  TECT will receive a reduced level of extended benefits proportional to its job shortfall through the remainder of the PFJ program, December 31, 2006.

RECOMMENDATION

It is recommended that the Power Allocation Board approve the name and or/location changes detailed above.

Following consideration of such recommendations, the Members of the Board present voted unanimously to adopt the following resolution:

RESOLVED, That the members of the Economic Development Power Allocation Board hereby approve name changes to the five companies as described in the above memorandum to the Board.

6.                                     Next Meeting

                The next meeting of the Board is to be determined.

3-06MINS