FEBRUARY 13, 2025 BOARD MEETING The Board of the Redevelopment Authority ofthe County of Montgomery, pursuant to proper notice, convened for its regularly scheduled meeting on February 13, 2025 at 9:30 AM. 1. On a call to roll, the following Board members were in attendance: Jonathan H. Spergel, Esq. Bob Wegbreit Judith S. Memberg James W. Sanders - on telephone-arrived in the office prior to project updates George Schools Also in attendance were Aliyah Stanger, Executive Director; Pamela Finegan, Deputy Director; Jocelyn Gallagher, Administrator, Fiscal Management & Operations Montgomery County Commerce Department; Andy Freimuth, Solicitor and Brett Burns, IBEW 98 Business Representative. 2. Announcement Regarding Executive Session at the January 9, 2025 Meeting Chairman Spergel reported that at theJanuary 9, 2025 meeting of the Redevelopment Authority the Board discussed real estate matters. 3. Public Comment There was no public comment. 4. Reading of Minutes of Redevelopment Authority Board Meeting of January 9, 2025 Upon a motion by Bob Wegbreit, seconded by Judith Memberg, the Board voted unanimously to dispense with the reading ofthe January 9, 2025 minutes and approve as presented. 5, Approval of Invoices Upon a motion by Judith Memberg, seconded by Bob Wegbreit, the Board voted unanimously to approve the bills and invoices as presented from January 10, 2025 to February 13, 2025. 1 6. Financial Statements Jocelyn Gallagher presented the January 2025 financial statements to the Board. 7. Executive Session The Board convened into Executive Session to discuss real estate matters. The Board convened into regular session. 8. Action Items Approve Amendment to Sublease Agreement - Norristown Chamber of Commerce Upon a motion by Bob Wegbreit, seconded by George Schools, the Board voted unanimously to approve the Sublease Agreement with Norristown Chamber of Commerce extending term to September 30, 2025 with a 90-day option to extend or terminate. Ms. Stanger noted that the Agreement allows for a 3% yearly increase. Approve ISRP Subgrantee Agreement with 5 Star Venture 1 - $1,000,000 Remediation Grant Funds for 900 and 1000 E. Mermaid Lane, Springfield Township, Montgomery County Upon a motion by Bob Wegbreit, seconded by Judith Memberg, the Board voted unanimously to approve the ISRP Subgrantee Agreement with 5 Star Venture 1 LP related to a $1,000,000 ISRP remediation grant for the property at 900 and 1000 E. Mermaid Lane, Springfield Township, Montgomery County. 2 Approve Straw Party Agreement of Sale with 5 Star Venture 1 LP for the Conveyance and Reconveyance of a Property Located at 900 and 1000 E. Mermaid Lane, Springfield Township, Montgomery County for the Completion of Approved Remediation Work with ISRP Grant Funds Upon a motion by Bob Wegbreit, seconded by Judith Memberg, the Board voted unanimously to approve the Straw Party Agreement of Sale with 5 Star Venture 1 LP for the conveyance and reconveyance ofthe property at 900 and 1000 E. Mermaid Lane in Springfield Township, Montgomery County, for the completion of approved remediation work with ISRP grant funds. Approve Open-Ended Mortgage and Security Agreement, Limited Surety Agreement and Disclosure of Confession of Judgement Among the Redevelopment Authority, 5 Star Venture 1 LP and First Trust Bank for the Purpose ofCarrying Out the Conveyance and Reconveyance of Property Located at 900 and 1000 E. Mermaid Lane, Springfield Township, Mongomery County, to Complete the Approved Remediation Work at the Property with Approved ISRP Grant Funds and Authorizing the Executive Director to Execute Such Documents and Other Documents Necessary to Complete the Çlosing on the Loan Subject to the Approval of the Authority Solicitor Upon a motion by Bob Wegbreit, seconded by George Schools, the Board voted unanimously to approve Open-Ended Mortgage and Security Agreement, Limited Surety Agreement and Disclosure of Confession ofJ Judgement among the Redevelopment Authority, 5 Star Venture 1 LP and First Trust Bank for the purpose of carrying out the conveyance and reconveyance of property located at 900 and 1000 E. Mermaid Lane, Springfield Township, 3 Mongomery County, to complete the approved Remediation Work at the property with approved ISRP Grant Funds and authorizing the Executive Director to execute such documents and other documents necessary to complete the closing on the loan subject to the approval ofthe Authority Solicitor. Ratify Execution of Redevelopment Assistance Capital Program (RACP) $500,000 Grant Contract ME300-3264 - Maurice Stephens House, Valley Forge Park Alliance Head Quarters and Café Upon a motion by George Schools, seconded by Bob Wegbreit, the Board voted unanimously ratify execution of $500,000 RACP Grant for the Maruice Stephens House, Valley Forge Park Alliance Head Quarters and Café project. Ms. Stanger noted that RACP funds are being used for an addition and renovations to the Maurice Stephens House. Ms. Stanger noted that the Valley Forge Park Alliance will occupy the building. Approve Cooperation Agreement and Subgrantee Agreement Among Redevelopment Authority, Jenkintown Borough and Grace Presbyterian Church of Jenkintown Grace Presbyterian Church of Jenkintown $1,547,646 RACP Grant Upon a motion by Bob Wegbreit, seconded by Judith Memberg, the Board voted unanimously to approve a Cooperation Agreement and Subgrantee Agreement among the Redevelopment Authority, Jenkintown Borough and Grace Presbyterian Church ofJenkintown for the Grace Presbyterian Church of.Jenkintown's RACP Project. Ms. Stanger noted that the project is for renovations related to the adult cducation/community center recreation room as well as an updated youth lounge and kitchen. Ms. Stanger further noted that the church is often used by various community groups in the Jenkintown area. 4 Approve Cooperation Agreement Among Redevelopment Authority, Royersford Borough, 610 Main Street Royersford LLC and Main Street Royersford LLC- Former Nelson's Ice Cream Factory $2,500,000 RACP Grant Upon a motion by George Schools, seconded by Bob Wegbreit, the Board voted unanimously to approve a Cooperation Agreement among the Redevelopment Authority, Royersford Borough, 610 Main Street Royersford LLC and Main Street Royersford LLC related to a $2,500,000 RACP Grant for the former Nelson's Ice Cream Factory project. Ms. Stanger noted that the RACP funds are being used to create a pad ready site for a mixed use development. Approve Subgrantee Agreement with 610 Main Street Royersford LLC and Main Street Royersford LLC - Former Nelson's Ice Cream Factory $2,500,000 RACP Grant Upon a motion by Bob Wegbreit, seconded by Judith Memberg, the Board voted unanimously to approve a Subgrantee Agreement with 610 Main Street Royersford LLC and Main Street Royersford LLC related to a $2,500,000 RACP Grant for the former Nelson's s Ice Cream Factory project. Approve Cooperation Agreement Among Redevelopment Authority, Worcester Township. and Variety-The Children's Charity of the Delaware Valley - Variety Campus Master Plan Implementation $4,500,000 RACP Grant Upon a motion by George Schools, seconded by Judith Memberg, the Board voted unanimously to approve a Cooperation Agreement among the Redevelopment Authority, Worcester Township and Variety-The Children's Charity oft the Delaware Valley related to a 5 $4,500,000 RACP grant for the Variety Campus Master Plan implementation project, subject to approval by Worcester Township. Ms. Stanger noted the project is for renovations to an. existing gymnasium. Ms. Stanger further noted that Worcester Township has the Agreement on its February 19, 2025 meeting agenda. Approve Subgrantee Agreement with Variety-The Children's Charity of the Delaware Valley Variety Campus Master Plan Implementation $4,500,000 RACP Grant Upon a motion by Bob Wegbreit, seconded by Judith Memberg, the Board voted unanimously to approve a Subgrantee Agreement with Variety-The Children's Charity ofthe Delaware Valley related to a $4,500,000 RACP Grant for the Variety Campus Master Plan Implementation project, subject to Worcester Township's approval of the Cooperation Agreement as noted above. Approve Cooperation Agreement Among Redevelopment Authority, Pottstown Borough and 215 S. Washington Street LLC - Pottstown Plating Works Remediation and Reuse $500,000 RACP Grant Upon a motion by George Schools, seconded by Judith Memberg, the Board voted unanimously to approve a Cooperation Agreement among the Redevelopment Authority, Pottstown Borough and 215 S. Washington Street LLC related to a $500,000 RACP grant for the former Pottstown Plating Works Remediation and Reuse Project. Ms. Stanger noted that the funds were used to make renovations to the existing building. Ms. Stanger further noted that ISRP funds were used for remediation prior to building renovations. 6 Approve Subgrantee Agreement with 215 S. Washington Street LLC - Pottstown Plating Works Remediation and Reuse $500,000 RACP Grant Upon a motion by Bob Wegbreit, seconded by Judith Memberg, the Board voted unanimously to approve a Subgrantee Agreement with 215 S. Washington Street LLC related to a $500,000 RACP grant for the former Pottstown Plating Works Remediation Grant project. Approve Cooperation Agreement Among Redevelopment Authority, Lower Gwynedd Township and Gwynedd Mercy University Gwynedd Mercy University i E dicas Academic Facilities Renovation $2,000,000 RACP Grant :5; : : . Upon a motion by Bob Wegbreit, seconded by George Schools, the Board voted unanimously to approve a Cooperation Agreement among the Redevelopment Authority, Lower !: A: Ki. Gwynedd Township and Gwynedd Mercy University related to a $2,000,000 RACP Grant for .r the Gwynedd Mercy University Academic Facilities Renovation project. Ms. Stanger noted that usri, aar the funds are being used for renovations ofan existing building on campus. : . 4" Approve Subgrantee Agreement with Gwynedd Mercy University Gwynedd Mercy University Academic Facilities Renovation $2,000,000 RACP Grant Upon a motion by Bob Wegbreit, seconded by George Schools, the Board voted wwS unanimously to approve a Subgrantee Agreement with Gwynedd Mercy University related a UT $2,000,000 RACP Grant for the Gwynedd Mercy University Academic Renovation project. 1 , James Sanders arrived in person to the meeting. 7. Project Updates Greater Conshohocken Economic Development Corporation (GCEDC) 7 Ms. Stanger noted that the funds from the Conshohocken Enterprise Zone Loan account were transferred to GCEDC as well as the loan portfolio. C-PACE Ms. Stanger noted that 2100 Renaissance C-PACE project may close as early as this month. Ms. Stanger further noted that Discovery Labs C-PACE project currently does not have an expected closing date. River Pointe - Bridgeport TIF Ms. Stanger noted that Neighborhood Improvement District Management Association (NIDMA) board approved assessment and authorized annual installments. Non-principal payments will continue to be made until capital runs out in September 2026 at which point increment funds and assessment will be used for repayment. MM Partners - Main & Dekalb Site/Norristown Ms. Stanger noted that she met with Leonard Lightner, Municipal Administrator and MM Partners regarding their project at Main & Dekalb in Norristown to discuss assistance in obtaining additional public financing to allow the project to progress. County Commissioners Ms. Stanger noted that Commissioner Tom DiBello will be attending the Authority's March Board meeting. Ms. Stanger also noted that she will be meeting with Chairman Neil Makhija next week. 9. Next Meeting The next meeting is scheduled for March 13, 2025 at 9:30 AM. 8 10. Adjournment Upon a motion by James Sanders, the Board agreed to adjourn the meeting at 10:08 AM. % * - 9