Financial History Of RIOC Sole Subject of Roosevelt Island Operating Corp (RIOC) Board Of Directors Special Meeting August 4 - In Executive Session Closed To The Public

The Roosevelt Island Operating Corp (RIOC) announced yesterday afternoon a "Special Meeting" of the Board of Directors to be held on Thursday August 4 in Executive Session, meaning closed to the public. According to RIOC:

PLEASE TAKE NOTICE that a special meeting of the Board of Directors will be held on Thursday, August 4, 2016 at 5:00 p.m. at The RIOC Corporate Office, 591 Main Street, Roosevelt Island, New York for the purpose of transacting such business as shall come before the Board.

AGENDA

I. Call to Order

II. Roll Call

III. New Business

1. Chair’s Motion for Executive Session to Discuss the Financial History of a Particular Corporation.

IV. Adjournment

* * *

The Open Meetings Law of the State of New York requires that all public bodies conduct meetings, convened for the purpose of officially conducting public business, in a manner open to attendance by the general public to observe and listen.

I asked RIOC President Susan Rosenthal and RIOC Directors:

Can you provide the name of the "Particular Corporation" which is the subject of August 4 RIOC Board Of Directors Special Meeting Executive Session?

Also can you provide any other information regarding the reason for this meeting that can be made public at this time?

Ms Rosenthal replied:

RIOC

is the particular corporation to be discussed at the Board meeting..

I replied today:

What is reason that a discussion of RIOC financial history by Board of Directors is being held in Executive Session?

 Will update when more information becomes available.

According to the NY State Open Meetings Law:

§100. Legislative declaration.

It is essential to the maintenance of a democratic society that the public business be performed in an open and public manner and that the citizens of this state be fully aware of and able to observe the performance of public officials and attend and listen to the deliberations and decisions that go into the making of public policy. The people must be able to remain informed if they are to retain control over those who are their public servants. It is the only climate under which the commonweal will prosper and enable the governmental process to operate for the benefit of those who created it....

... §103. Open meetings and executive sessions.
(a) Every meeting of a public body shall be open to the general public, except that an executive session of such body may be called and business transacted thereat in accordance with section one hundred five of this article....

... §105. Conduct of executive sessions.
1. Upon a majority vote of its total membership, taken in an open meeting pursuant to a motion identifying the general area or areas of the subject or subjects to be considered, a public body may conduct an executive session for the below enumerated purposes only, provided, however, that no action by formal vote shall be taken to appropriate public moneys:
a. matters which will imperil the public safety if disclosed;
b. any matter which may disclose the identity of a law enforcement agent or informer;
c. information relating to current or future investigation or prosecution of a criminal offense which would imperil effective law enforcement if disclosed;
d. discussions regarding proposed, pending or current litigation;
e. collective negotiations pursuant to article fourteen of the civil service law;
f. the medical, financial, credit or employment history of a particular person or corporation, or matters leading to the appointment, employment, promotion, demotion, discipline, suspension, dismissal or removal of a particular person or corporation;
g. the preparation, grading or administration of examinations; and
h. the proposed acquisition, sale or lease of real property or the proposed acquisition of securities, or sale or exchange of securities held by such public body, but only when publicity would substantially affect the value thereof.
2. Attendance at an executive session shall be permitted to any member of the public body and any other persons authorized by the public body....

UPDATE 8/4 - From RIOC:

PLEASE TAKE NOTICE that a special meeting of the Board of Directors previously scheduled for Thursday, August 4, 2016 at 5:00 p.m. has been CANCELLED.