Resolution No. 444

Approving Assignment And Assumption Of The Hudson River Valley LLC PILOT Agreement To 300 Grant Ave, LLC

Resolution Information




Referred to: The Economic Development, Tourism, Housing, Planning and Transit

Committee (Chairman Maloney and Legislators Berky, Delaune, Lapp, Litts, Maio

and Rodriguez), and The Ways and Means Committee (Chairman Gerentine and

Legislators Allen, Bartels, Belfiglio, Briggs, Maio, and Maloney)


Chairman of The Economic Development, Tourism, Housing, Planning, and Transit

Committee, James F. Maloney, offers the following:

 WHEREAS, the Ulster County Industrial Development Agency (UCIDA)

entered into a Payment in Lieu of Tax Agreement (PILOT) by and between the

UCIDA and Hudson River Valley, LLC (Hudson) and the Town of Ulster (TOU)

dated as of March 1, 1998 covering a leasehold interest in a parcel of real estate

containing approximately 39.264 acres located at 300 Grant Ave in the Town of

Ulster, Ulster County, New York, together with the existing building located thereon

which contains approximately 208,000 square feet of space; and

WHEREAS, the PILOT is for a term of 30 years running from 1999 to 2029

and is currently in its 18th year with 12 years remaining to run; and

WHEREAS, Hudson wishes to transfer fee simple title to a newly created

entity titled 300 Grant Ave, LLC (300 Grant Ave) subject to the Leasehold Interest of

the UCIDA; and

WHEREAS, 300 Grant Ave will fully assume the rights and responsibilities,

without modification, of the PILOT; now, therefore be it

RESOLVED, the Ulster County Legislature consents to the assignment and

assumption of the PILOT by 300 Grant Ave and requests the UCIDA to take the

necessary steps to provide for such assignment and assumption,

and moves its adoption.



 AYES: 19 NOES: 0

 (1 Abstention: Legislator Belfiglio)

 (Absent: Legislators Litts, R. Parete and Roberts) 


Passed Committee: Economic Development, Tourism, Housing, Planning and Transit

on December 5, 2017


Passed Committee: Ways and Means on December 6, 2017






I, the undersigned Clerk of the Legislature of the County of Ulster, hereby certify that the foregoing resolution is

the original resolution adopted by the Ulster County Legislature on the 6th Day of December in the year Two Thousand and

Seventeen, and said resolution shall remain on file in the office of said clerk.

IN WITNESS WHEREOF, I have hereunto set my hand and seal of the County of Ulster this 7th Day of

December in the year Two Thousand and Seventeen.

|s| Victoria A. Fabella

Victoria A. Fabella, Clerk

Ulster County Legislature

Submitted to the County Executive this Approved by the County Executive this


th Day of December, 2017. 13th Day of December, 2017.

|s| Victoria A. Fabella |s| Michael P. Hein

Victoria A. Fabella, Clerk Michael P. Hein, County Executive

Ulster County Legislature 

Current Text: PDF



Updated: January 31, 2019