Resolution No. 10 April 15, 2014

Opposing The Granting Of A PILOT Agreement By The Ulster

County Industrial Development Agency For The Park Point New

Paltz Application

WITHDRAWN BY SPONSOR

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

Committee (Chairman Thomas J. Briggs and Legislators Allen, Archer, Litts, Maio,

Maloney, and Rodriguez)

Legislator Kenneth Wishnick and Legislators Bartels, Gregorius, Rodriguez and

Provenzano offer the following:

 WHEREAS, Park Point New Paltz, LLC ("Applicant") is seeking to build and

operate a $56 million housing development ("the Project") for students, faculty and

staff adjacent to, but independent from, SUNY New Paltz- including 258 apartments

to house 696 students in 10 buildings, a clubhouse and a pool; and

 WHEREAS, Applicant is a multibillion dollar corporation that will operate

under a long term land lease with the SUNY New Paltz Foundation which obtained

this parcel from a private company to enable this intended use; and

 WHEREAS, Applicant is requesting tax waivers through a Payment In Lieu

Of Taxes (PILOT) Agreement with the Ulster County Industrial Development

Agency (“UCIDA”) which would save the Applicant approximately $32 million that

would otherwise be utilized by the Town of New Paltz, the New Paltz Independent

School District and Ulster County for the purpose of providing essential local

services; and

 WHEREAS, the Applicant proposes to create a total of only eight new full

time jobs over the term of the Project which equates to $4 million in property tax

subsidies for each new long term job created; and

 WHEREAS, the Project is proposed to be operated by the Applicant under a

46 year lease agreement, after which the ownership reverts to the non-profit, taxexempt SUNY New Paltz Foundation, ensuring that the Project will not be a long

term tax-paying entity; and

 WHEREAS, the Town of New Paltz, the New Paltz Central School District

and the Town of Gardiner are in opposition to the granting of this PILOT; and 

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Resolution No. 10 April 15, 2014

Opposing The Granting Of A PILOT Agreement By The Ulster

County Industrial Development Agency For The Park Point New

Paltz Application

WHEREAS, removing future property tax income against the official

positions of local taxing jurisdictions for a project that only creates a minimal

number of long-term jobs runs contrary to the UCIDA's mission which is to advance

job opportunities, general prosperity and the long-term economic vitality of Ulster

County residents; now, therefore, be it

 RESOLVED, that the Ulster County Legislature joins the Town of New Paltz

and the New Paltz School Board in opposing the Park Point New Paltz application

for a 25 year PILOT tax exemption from the UCIDA; and be it further

 RESOLVED, that a copy of this resolution shall be sent to each member of the

UCIDA,

and move its adoption.

 ADOPTED BY THE FOLLOWING VOTE:

AYES: NOES:

Postponed in Committee: Economic Development, Tourism, Housing, Planning &

Transit on January 27, 2014.

Postponed in Committee: Economic Development, Tourism, Housing, Planning &

Transit on February 4, 2014.

Postponed in Committee: Economic Development, Tourism, Housing, Planning &

Transit on March 4, 2014.

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

on _____________________.

FINANCIAL IMPACT:

NONE