Community Initiatives Development Corporation

“William loewenstein mary ann loewenstein president asst. Sec. Family relationship william loewenstein frances m. Brandt president secretary family relationship mary ann loewenstein frances m. Brandt asst. Sec. Secretary family relationship”

“A copy of the 990 is emailed to the directors and officers, and they are asked to review it and submit their questions or vote of approval by email.”

“The corporation's provisions for conflict of interest are specified in article x, section 9.01 of the corporation's by-laws. A director who has a conflict of interest with any corporation business is required to recuse him/herself from voting on the matter, although he/she may state a position on the matter and respond to questions about it. Said director may be counted in determining a quorum for the meeting at which the matter was voted upon, but the minutes of the meeting shall reflect that the disclosure was made and that said director abstained from voting. Form 990, part vi, line 14-written document retention & destruction policy the corporation does not have a written document. Corporation's custom is as follows: records of applications for loans and grants that contain personal or business financial information about the applicants are shred on a regular basis after the application process is completed. Personnel expense and activity reports are shred after 7 or 9 years, depending on their importance. Corporation government program records are retained according to the requirements of the program and shred when retention is no longer required.”

“The corporation's governing documents, i.e. Articles of incorporation and by laws (includes conflict of interest procedures) are available upon written request. The corporations financial reports, i.e. 990 and audit are available upon written request. Schedule k - purpose of issue description new york city industrial dev. Agency to finance the design, development and construction of new parking facilities, and renovation and improvements of existing parking lots and parking garages to provide parking for the general public, to alleviate traffic congestion and burdens on the community during yankee stadium events in bronx, new york. Rensselaer cty industrial dev. Agency acquire land and a building, renovate the building, acquire and install various machinery and equipment to be leased by rensselaer polytechnic institute in troy, new york, to be used as a student housing facility and related activities.”

“Conversion - accrual to cash -467,387 conversion - accrual to cash -23,644,928 total -24,112,315”