Item Coversheet






Councilperson Russell offered the following resolution and moved its adoption, which resolution was declared adopted after a poll of the members of this Board:

RESOLUTION NO. 392 - 2018

A RESOLUTION RESCINDNG RESOLUTION NO. 298-2018, ADOPTED JUNE 5, 2018, AND AUTHORIZING THE EXECUTION OF AN AMENDMENT TO AN AGREEMENT WITH THE NORTH HEMPSTEAD HOUSING AUTHORITY WITH REGARD TO THE TRANSFER OF THE FORMER GRAND STREET SCHOOL, NEW CASSEL AND FURTHER AUTHORIZING THE EXECUTION OF AN AGREEMENT WITH NORTH HEMPSTEAD HOUSING DEVELOPMENT, INC. WITH REGARD TO PARKING ON THE PROPERTY KNOWN AS MAGNOLIA GARDENS, NEW CASSEL, NEW YORK AND THE TAKING OF RELATED ACTION.

        WHEREAS, the North Hempstead Housing Authority (the “Authority”) is the contract vendee under a certain property transfer agreement (the “Property Transfer Agreement”) by and between the Town of North Hempstead and the Authority, concerning a certain premises located on Grand Street, New Cassel, New York, as more specifically delineated in the Property Transfer Agreement  (the “Premises”); and

 

        WHEREAS, the Authority desires to develop 77 affordable independent living units for seniors at the Premises in order to accomplish its goal of providing affordable housing for seniors (the “Project”); and

 

        WHEREAS, to effectuate the development of the Project, the Authority has made an application to be awarded federal low income tax credits to be issued by New York State Housing Finance Agency (“HFA”); and

 

        WHEREAS, in order to take advantage of this financing, the Authority sponsored the formation of a not-for-profit housing development fund company organized pursuant to Article XI of the New York Private Housing Finance Law, Grand Street Apartments Housing Development Fund Company, Inc., a New York not-for-profit corporation having an office at 899 Broadway, Suite 121, Westbury NY 11590 (the “HDFC’), which entity will serve as the general partner of the Beneficial Owner (as below defined); and

 

        WHEREAS, the Authority wishes to transfer the Authority’s interest in the Property Transfer Agreement to the HDFC, which entity will be the fee owner of the Premises for the benefit of the beneficial owner, Grand Street Apartments Housing Owner L.P. (“Beneficial Owner”) as contemplated by the Property Transfer Agreement (the “Assignment”); and

 

        WHEREAS, the Authority has requested that the Town consent to the Assignment; and

 

        WHEREAS, as the tax credit financing transaction will occur on or before December 31, 2018,  Authority has requested that the Closing Date as defined by the Property Transfer Agreement be extended to December 31, 2018 (the “Closing Date Extension”); and

 

        WHEREAS, HFA, the tax credit syndicator and lenders have requested that a covenant included in the Property Transfer Agreement restricting the use of the property to affordable housing  be modified so as to (i) eliminate reverter language contained in and the covenant, (ii) reflect that the Town’s remedy for breach of the covenant is specific performance and (iii) state that the Town will not enforce the covenant so long as a certain Regulatory Agreement made by HFA and concerning the Premises remains in effect (the “Covenant Amendments”); and

 

        WHEREAS, the Authority has requested that the requirement under the Property Transfer Agreement that it enter into a paving agreement obligating the Authority to create a parking lot on property adjacent to the Premises known as Magnolia Gardens (the “Magnolia Lot”) be eliminated, and that the Purchase price be increased to $800,000.00 in consideration of the Town covenanting to construct the Magnolia Lot (the “Parking and Price Amendments”);

 

        WHEREAS, the Authority has requested that the Town enter into a separate agreement with the Authority and North Hempstead Housing Development Inc., owner of Magnolia Gardens, with respect to the Town’s development of the Magnolia Lot containing such other provisions governing maintenance, repairs, insurance, liability and other agreements as are to be negotiated between the parties (“Parking Lot Agreement”);

 

        WHEREAS, the Authority has requested that the Property Transfer Agreement be amended to require an easement be granted to the Authority, the HDFC and the Beneficial Owner over property to be retained by the Town and located at the corner of Grand Street and Broadway for landscaping, access and temporary construction staging (the “Easement Amendment”); and

 

        WHEREAS, the provisions of this resolution are intended to supercede previous amendments authorized by this Board pursuant to Resolution No. 298-2018, adopted June 5, 2018 (the “Resolution”), and, therefore, the Board wishes to rescind the Resolution; and

 

        WHEREAS, the Town Board finds it in the best interests of the Town to authorize amending the Property Transfer Agreement to reflect the Assignment, the Closing Date Extension, the Covenant Amendments, the Easement Amendment and the Parking and Price Amendments (the “Amendment”) and to further authorize execution of the Parking Lot Agreement;

 

        NOW THEREFORE, BE IT

        RESOLVED, that the Resolution be and hereby is rescinded; and be it further

 

        RESOLVED, that the Amendment be and hereby is authorized; and be it further

 

        RESOLVED, that the Parking Lot Agreement be and hereby is authorized; and be it further

 

        RESOLVED, that the Supervisor is authorized and directed to execute, on behalf of the Town, the Amendment and the Parking Lot Agreement, all as more particularly set forth in a copy of the Amendment and Parking Lot Agreement, which shall be on file in the Office of the Town Clerk; and it be further

 

        RESOLVED, that the Office of the Town Attorney be and hereby is authorized and directed to negotiate and supervise the execution of the Amendment and Parking Lot Agreement; and be it further

 

        RESOLVED, that the Comptroller be and hereby is authorized and directed to pay the costs of the Parking Lot Agreement upon receipt of the duly executed Parking Lot Agreement and certified claims therefor; and be it further

 

        RESOLVED that within ten (10) days of the adoption of this Resolution, the Town Clerk shall post and publish the following notice in accordance with Section 90 of the Town Law:


NOTICE OF ADOPTION OF RESOLUTION

SUBJECT TO PERMISSIVE REFERENDUM

NOTICE IS HEREBY GIVEN that at its meeting held on August 14, 2018, the Town Board of the Town of North Hempstead duly adopted a resolution (the “Resolution”), subject to permissive referendum pursuant to Town Law Article 7, an abstract of which is as follows: A resolution authorizing, amongst other things, the Town to grant an easement to Grand Street Apartments Housing Development Fund Company, Inc., as nominee for the beneficial owner of adjacent property, Grand Street Apartments Owner L.P. for landscaping, access and construction staging over a property located at the northeast corner of Grand Street and Broadway, New Cassel, New York and designated as Section 11, Block 503, Lot 53 on the Land and Tax Map of the County of Nassau, for the benefit of adjacent property known as 252 Grand Street, Westbury, New York and designated as Section 11, Block 503, Lot 52 on the Land and Tax Map of the County of Nassau (the "Easement”); and

 

        PLEASE TAKE FURTHER NOTICE, that pursuant to the Resolution of the Board the Transaction is subject to a permissive referendum as set forth in Section 90 of the Town Law of the State of New York; and

 

        PLEASE TAKE FURTHER NOTICE that the Resolution shall take effect unless a petition calling for a referendum on the Easement is filed with the Town Clerk pursuant to Section 91 of the Town Law within thirty (30) days of adoption of the Resolution; and

 

        PLEASE TAKE FURTHER NOTICE that the full text of the Resolution is on file in the Office of the Town Clerk and may be examined during regular business hours.


Dated:    Manhasset, New York

                August 14, 2018

 

BY ORDER OF THE TOWN BOARD OF

THE TOWN OF NORTH HEMPSTEAD

WAYNE H. WINK, JR., TOWN CLERK 

 

Dated:             Manhasset, New York

                        August 14, 2018

 

The vote on the foregoing resolution was recorded as follows:

                       

Ayes:  Councilperson De Giorgio, Councilperson Ferrara, Councilperson Kaplan, Councilperson Russell, Councilperson Seeman, Councilperson Zuckerman, Supervisor Bosworth

 

Nays:  None

 

cc: Town Attorney      Comptroller