Resolution No. 473

Approving Changes Of A Subordination Mortgage To A Restrictive Covenant – Silver Gardens Senior Housing Development – ARPA - Department Of Finance, Division Of Recovery And Resilience

Resolution Information




Referred to:  The American Rescue Plan Act Special Committee (Chairman Criswell and Legislators Corcoran, Levine, Lopez, and Sperry), The Health, Human Services and Housing Committee (Chairman Uchitelle and Legislators Corcoran, Erner, Lopez, Nolan, Petit, and Stewart), The Public Works, Capital Projects and Transportation Committee (Chairwoman Petit and Legislators Erner, Fabiano, Litts, and Nolan), and The Ways and Means Committee (Chairman Gavaris and Legislators Cahill, Criswell, Roberts, and Ronk)


Chairman of the ARPA Special Committee, Peter J. Criswell, and Deputy Chair Thomas Corcoran, Jr. offer the following:


WHEREAS, this resolution has been submitted at the request of the County Executive on behalf of the Department of Finance, Division of Recovery and Resilience; and


WHEREAS, the County Legislature previously authorized $600,0000 of American Rescue Plan Act, State and Local Fiscal Recovery Fund (ARPA-SLFRF) funding for Capital Project 631, in Resolution No. 163 of 2022, to the subrecipient RUPCO, Inc., to aid in the cost of constructing a geothermal ground source system for the purposes of heating and cooling and providing hot water to a proposed affordable housing development in the Town of Lloyd; and


WHEREAS, Resolution No. 163 of 2022 resolved that the funding be subject to and contingent upon the execution of a subordination mortgage agreement which was annexed to the resolution; and


WHEREAS, the purpose of the subordination mortgage was to provide a legal mechanism where the County could enforce and ensure the affordable housing development maintained specific affordability levels for thirty years in return for the ARPA-SLFRF funding from the County; and


            WHEREAS, this subordination mortgage has gone through further review and discussion between the County Attorney, RUPCO, Inc., and County staff; and


WHEREAS, a revised and updated recapture document, based on the document approved by Resolution No. 163 of 2022, has been filed with the Clerk of the Legislature, for the review and the approval of the Legislature (the “Recapture Document”); and






WHEREAS, the Recapture Document utilizes the legal mechanism of a restrictive covenant to ensure enforceability of a thirty-year retention period on the specific affordability levels of the development, which period shall commence on the date of completion of the development; now, therefore, be it


RESOLVED, that the Ulster County Legislature has examined the Recapture Document, and hereby approves the Recapture Document in the form as filed with the Clerk of the Legislature, or as modified with the approval of the County Attorney and Legislative Counsel,


and move its adoption.





AYES:                        NOES:    



Passed Committee: American Rescue Plan Act on __________.


Passed Committee: Health, Human Services and Housing on __________.


Passed Committee: Public Works, Capital Projects and Transportation on __________.


Passed Committee: Ways and Means on __________.





Current Text: PDF


Updated: October 13, 2023