Government memo

EXHIBIT 37¶

FINANCIAL TRUST COMPANY, INC.¶

1. APPLICATIONS:¶

(A) Original Application:¶

• a. Date:
  • i. Received: 12/18/98
  • ii. Accepted: 02/22/09
• b. Activity: Financial and Economic Consulting, Money Management, Investment Advisory and Financial Services
• c. Commitment:
  • i. Investment: $300K
  • ii. Employment: 11 people
• d. Public Hearing : 04/23/99
• e. Decision Meeting: 09/07/99
• f. Governor Approval: 11/26/99
• g. Certificate: 10 years (Staggered Benefits)
  • i. Commence: 04/01/99
  • ii. Terminate: 12/31/09
• h. Incentives:
  • i. Income Tax: 100%
  • ii. Gross Receipts Tax: 100%
  • iii. Real Property Tax (Business): 100%
  • iv. Excise Tax (Machinery & Equipment): 100%
  • v. Excise Tax (Raw Materials): 100%
  • vi. Custom Duties: 1%

(B) Modification/Extension Application:¶

• a. Date:

  • i. Received: 12/18/98
  • ii. Accepted: 02/22/09

• b. Activity: Designated Service Business Financial and Economic Consulting

• c. Commitment:

  • i. Investment: $100K
  • ii. Employment: 10 people

• d. Public Hearing : 02/12/09

• e. Decision Meeting:

  • i. 11/27/09 (Tabled)
  • ii. 05/07/09 (Continued)
  • iii. 05/28/09 (Tabled)
  • iv. 10/15/09 (Approved)

• f. Governor Approval: 02/13/10

• g. Certificate: 5 years (Staggered Benefits)

• h. Incentives:

  • i. Commence: 04/01/09

• ii. Terminate: 12/31/14

• iii. Income Tax: 81%

• iv. Gross Receipts Tax: 90%

• v. Real Property Tax (Business): N/A

• vi. Excise Tax (Machinery & Equipment): 90%

• vii. Excise Tax (Raw Materials): N/A

• viii. Custom Duties: N/A

2. PETITIONS:¶

(A) Suspension Request:¶

• a. Date: 04/04/12
• b. Period: 03/23/12 03/22/13 (1 Year)
• c. Decision Meeting:
  • i. 05/02/12 (Continued)
  • ii. 05/17/12 (Tabled)
  • iii. 06/21/12 (Approved)

(B) Termination Request:¶

• a. Date: 03/28/13
• b. Decision Meeting:
• c. Effective: 03/28/13

3. COMPLIANCE:¶

(A) 1” Compliance Report:¶

• a. Date: 04/17/08
• b. Period: 04/01/99 12/31/06
• c. Findings: In Compliance with All Certificate’s Standard and Special Conditions

(B) 2nd Compliance Report:¶

• a. Date: 01/31/14
• b. Period: 01/01/07 12/31/08
• c. Findings: In Compliance with All Certificate’s Standard and Special Conditions

(C) 3’d Compliance Report:¶

• a. Date: 01/31/14
• b. Period: 01/01/09 03/23/12
• c. Findings: In Compliance with All Certificate’s Standard and Special Conditions

SOUTHERN TRUST COMPANY, INC.¶

1. APPLICATIONS:¶

(A) Original Application:¶

• a. Date:
  • i. Received: 09/21/12
  • ii. Accepted:
• b. Activity: Designated Financial Services Business Development of Financial and Biomedical Informatics
• c. Commitment:
  • i. Investment: $400K
  • ii. Employment: 10 people (5 people immediately plus an additional 5 people by the end of the 6th year of operation)
• d. Public Hearing : 11/15/12
• e. Decision Meeting: 01/23/13
• f. Governor Approval: 05/31/13
• g. Certificate: 10 years
  • i. Commence: 02/01/13
  • ii. Terminate: 01/31/23
• h. Incentives:
  • i. Income Tax: 90%
  • ii. Gross Receipts Tax: 100%
  • iii. Real Property Tax (Business): N/A
  • iv. Excise Tax (Machinery & Equipment): 100%
  • v. Excise Tax (Raw Materials): N/A
  • vi. Custom Duties: N/A

2. PETITIONS: N/A¶

3. COMPLIANCE:¶

• Compliance Report:¶

• a. Date: 11/15/18
• b. Period: 02/01/13 12/31/17
• c. Findings: In Compliance with All Certificate’s Standard and Special Conditions

IGY-AYH ST. HOLDING. LLC¶

1. APPLICATIONS:¶

(A) Transfer Application:¶

• a. Date:
  • i. Received: 04/25/07
  • ii. Accepted:
• b. Public Hearing : 05/24/07
• c. Decision Meeting: 05/04/10
• d. Approved By The Governor: N/A
• e. Certificate: Remainder of Certificate Benefit Period
  • i. Commence: 01/19/07
  • ii. Terminate: 10/31/12
• f. Incentives:
  • i. Income Tax: 100%
  • ii. Gross Receipts Tax: 100%
  • iii. Real Property Tax (Business): 100%
  • iv. Excise Tax (Machinery & Equipment): 100%
  • v. Excise Tax (Raw Materials): N/A
  • vi. Custom Duties: 1%
• g. Note: Jeffery Epstein acquired 50% interest as a passive investor on 05/29/07

(B) Extension Application:¶

• a. Date:
  • i. Received: 10/22/10
  • ii. Accepted: 11/12/10
• b. Activity: Marina & Upland Services
• c. Commitment:
  • i. Investment: $210K
  • ii. Employment: 24 people
• d. Public Hearing : 11/23/10
• e. Decision Meeting: 02/24/11
• f. Governor Approval: 06/21/11
• g. Certificate: 5 years (Staggered Benefits)
• h. Commence: 03/08/10
• i. Terminate: 10/31/17
• j. Incentives:
  • i. Income Tax: 81%
  • ii. Gross Receipts Tax: 90%
  • iii. Real Property Tax (Business): 90%
  • iv. Excise Tax (Machinery & Equipment): 90%
  • v. Excise Tax (Raw Materials): N/A
  • vi. Custom Duties: 1%

(C) Modification/Extension Application (Act 7651 & 5 years investment)¶

• a. Received: 03/05/18
• b. Accepted: 05/31/08
• c. Activity: Marina & Upland Services
• d. Commitment:
  • i. Investment: $2MM
  • ii. Employment: 17 people
• e. Public Hearing : 06/05/18
• f. Decision Meeting: 07/05/18
• g. Governor Approval: N/A
• h. Certificate: 10 years (Staggered Benefits)
  • i. Commence: 03/08/15
  • ii. Terminate: 10/31/27
• i. Incentives:
  • i. Income Tax: 81%
  • ii. Gross Receipts Tax: 90%
  • iii. Real Property Tax (Business): 90%
  • iv. Excise Tax (Machinery & Equipment): 90%
  • v. Excise Tax (Raw Materials): N/A
  • vi. Custom Duties: N/A

2. PETITIONS: N/A¶

3. COMPLIANCE:¶

(A) 1” Compliance Report:¶

• a. Date: 04/24/17
• b. Period: 01/19/07 12/31/12
• c. Findings: Out of Compliance
  • i. Retirement Benefits Accepted $500.97 Contribution Made to Workforce Development Fund
  • ii. Contractors & Subcontractors Have Valid Business License Paid $5,000 to the Industrial Promotion Fund
  • iii. Compliance Clearance Granted

(B) 2,d Compliance Report:¶

• a. Date: 04/24/17
• b. Periods: 01/01/13 12/31/17
• c. Findings: Out of Compliance
  • i. Procurement Procedures Paid $6,000 Fine to the Industrial Promotion Fund
  • ii. Long-term Disability Insurance during 2015 Paid $5,000 Fine to the Industrial Promotion Fund
  • iii. Compliance Clearance Granted