Legislators David B. Donaldson and Kevin Roberts offer the following:

BE IT ENACTED by the County Legislature of Ulster County, New York (the

“County Legislature”), as follows:

WHEREAS, pursuant to Title 1 of Article 18-A of the General Municipal Law

of the State of New York, as amended (the “Enabling Act”) and Chapter 787 of the

1976 Laws of New York, as amended, constituting Section 923 of said General

Municipal Law (said Chapter and the Enabling Act being hereinafter collectively

referred to as the “Act”), the County Legislature of Ulster County has heretofore

appointed the Chairman and members of Ulster County Industrial Development

Agency (the “Agency”) and has duly caused to be filed in the office of the Secretary

of State of the State of New York the certificates required by Section 856 of the Act;

and

WHEREAS, to accomplish its stated purposes, the Agency is authorized and

empowered under the Act to acquire, construct, reconstruct and install one or more

“projects” (as defined in the Act) or to cause said projects to be acquired,

constructed, reconstructed and installed, and to convey said projects or to lease said

projects with the obligation to purchase; and

WHEREAS, Landmark Preservation, L.P., a New York limited partnership

(the “Company”), submitted an application (the “Application”) to the Agency, a copy

of which Application is on file at the office of the Agency, which Application

requested that the Agency consider undertaking a project (the “Project”), said Project

consisting of the following: (A)(1) the acquisition of an interest in (a) an

approximately 2.90 acre parcel of land located at 295 Broadway (tax map no. 56.34-

9-1) in the City of Kingston, Ulster County, New York (the “Broadway Land”),

together with an approximately 69,000 square foot building located thereon (the

“Broadway Facility”) and (b) an approximately 2.30 acre parcel of land located at 1

Albany Avenue (tax map no. 48.80-1-12.11) in the City of Kingston, Ulster County,

New York (the “Albany Land” and collectively with the Broadway Land, the

“Land”), together with an approximately 107,000 square foot building located

thereon (the “Albany Facility” and collectively with the Broadway Facility, the

“Facility”), (2) the renovation and rehabilitation of the Facility, and (3) the

acquisition and installation therein and thereon of certain machinery, equipment and

other personal property (collectively, the “Equipment”) (the Land, the Facility and 

the Equipment being collectively referred to as the “Project Facility”), all of the

foregoing to constitute a Section 8, senior and handicapped housing facility to be

owned by the Company and leased to residential tenants, together with incidental and

related commercial space leased to various commercial entities, and any other

directly and indirectly related activities; (B) the granting of certain “financial

assistance” (within the meaning of Section 854(14) of the Act) with respect to the

foregoing, including potential exemptions from certain sales and use taxes, real

property taxes, real estate transfer taxes and mortgage recording taxes (collectively,

the “Financial Assistance”); and (C) the lease (with an obligation to purchase) or sale

of the

Section 1. For the purpose of satisfying the requirements contained in the

Agency’s Policy, the County Legislature hereby (1) acknowledges notification of the

proposed deviation from the Agency’s Policy, (2) waives any formal notice from the

Agency of the proposed deviation from the Agency’s Policy, and (3) approves the

payment terms and other conditions to be contained in the PILOT Agreement, as

substantially described in Schedule A attached.

Section 2. Subject to receipt by the County Legislature of a certified

resolution indicating that the City of Kingston and the Kingston City School District

have approved the terms described in Schedule A and authorized the Mayor and

President of the School District, respectively, to execute and deliver the PILOT

Agreement, the Chairman of the County Legislature is hereby authorized, on behalf

of the County of Ulster, to execute and deliver the PILOT Agreement for the purpose

of evidencing its approval to the proposed deviation from the Agency’s Policy, said

PILOT Agreement to contain the terms described in Schedule A attached, with such

changes, variations, omissions and insertions as the Chairman of the County

Legislature shall approve, the execution thereof by the Chairman of the County

Legislature to constitute conclusive evidence of such approval.

Section 3. The officers, employees and agents of the County of Ulster are

hereby authorized and directed for and in the name and on behalf of the County of

Ulster to do all acts and things required or provided for by the applicable provisions

of this Resolution in order to ensure compliance with such provisions as they relate to

the execution and delivery of the PILOT Agreement, and to execute and deliver all

such additional certificates, instruments and documents, and to do all such further

acts and things as may be necessary or, in the opinion of the officer, employee or

agent acting, desirable and proper to effect the purposes of the foregoing resolution.

Section 4. This resolution shall take effect immediately,

and move its adoption. 

ADOPTED BY THE FOLLOWING VOTE:

AYES: NOES:

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

Committee by Committee of the Whole on January 8, 2018

FINANCIAL IMPACT:

AMOUNTS PURSUANT TO SCHEDULE A PAYABLE ANNUALLY FOR

THIRTYFIVE YEARS TO BE APPORTIONED TO EACH AFFECTED TAX

ENTITY ACCORDING TO THE PRORATED TAX RATES