►
Description
The Committee will review Resolution 45.61.20R that authorize the City to enter into a Payment in Lieu of Taxes (“PILOT”)Agreement with 25 Delaware Housing Development Fund Company, Inc., and 25 Delaware, LLC, whereby the applicants will pay to the City ten percent of “shelter rent” – i.e. the amount of rent collected less the cost of utilities – instead of the property taxes that would otherwise be due on the property, for a term of thirty years.
B
Hello:
everyone
welcome
to
the
Albany
Common
Council
Finance
Committee
meeting
present.
We
have
committee
members,
Alfredo
Bella,
Hren
Judy,
a
Maiko
Brian.
We
also
have
councilmember
Richard
Conte.
We
are
joined
by
staff,
darlin
turtle,
Michelle,
Andre,
Daniel
Gillespie,
and
we
also
have
a
special
guest
Michael
Berkley.
We
are
discussing
this
evening
resolution
number
45,
60
120
and
which
is
authorizing
a
pilot
agreement
between
the
city
of
Albany,
25,
Delaware,
housing
development,
so
Richard
sent.
This
is
your
legislation.
Would
you
like
to
start
it
off
a
bit.
C
C
My
resolution
does:
would
authorize
the
city
to
enter
into
a
pilot
agreement
which
is
based
on
the
same
pilot
agreements
we've
entered
into
with
other
affordable
housing.
Companies
like
this,
which,
for
example,
Robertson
Square
and
the
pastor's
I
know
that
conifer
is
also
submitting
a
grant
app
for
some
capital
support
to
this,
and
someone
has
a
dog,
and
the
hope
is
that
we
can.
They
could
include
the
pilot
agreement
with
the
application
to
improve
their
ability,
it's
a
very
competitive
process.
C
So
that's
where
it
is
the
the
project
itself.
There
are
some
renderings
that
you'll
see
the
case.
Files
are
also
available
in
the
planning
boards,
the
planning
departments
website,
but
they
have
been
through
the
queue
the
stork
Resources
Commission
a
couple
of
times.
Their
last
presentation,
I
would
characterize,
is
very
favorable
and
I
believe
they're
going
to
be
back
on
Wednesday
for
further
review,
but
that
process
is
moving
forward
in
a
very
positive
direction.
C
Remember
HRC
is
only
looking
at
the
exterior
and
not
through
the
actual,
the
other
elements
of
the
project.
So
that's
basically
what
the
the
resolution
does.
It
will
authorize
the
pilot
agreement
similar
to
what
we've
done
with
other
corporations
for
affordable
housing,
and
unless
there
are
questions,
maybe
you
want
to
turn
it
over
to
Mike
to
review
the
project
and
answer
any
additional
questions
and
I
know.
I
saw
Brett
was
here
also
correct.
D
D
I've
got
I've
got
one
question
since
that
used
to
be
a
senior
services
building
the
old
historic
part
of
it,
I'm
wondering
if
the
new
developer
might
also.
We
don't
have
too
many
senior
services
sites
in
Albany.
I
know
we
have
them
at
Westview
and
I
believe
all
that
you'll
Philip
Livingston
like
that,
might
that's
it
would
be
nice.
They
could
maybe
host
a
senior
citizen
program
and
I
know.
Joyce
and
I
were
working
with
colony
senior
services,
maybe
to
help
sponsor
some
in
also
with
Life
Path
of
Albany
I.
C
Mean
you
can
ask
Mike
the
the
project
does
incorporate
a
community
wrong
which
I
think
also.
You
know
it's
right
near
the
Hudson
Park
in
the
Park
South
neighborhood
right
available
for
use
to
the
neighborhood
associations,
possibly
beyond
that
I'm,
not
sure,
but
there
are
other.
You
know
facilities,
but
basically
some
of
the
the
amenities
and
there
are
targeted
towards
the
tenants.
But
I
know
there
was
a
community
room
in
there
as
well
I
mean
you
want
to
I,
don't
know
if
there
any
other
questions
or
you.
C
D
E
E
E
This
is
a
map
that
shows
our
footprint
we
have,
as
you
can
see,
we
have
over
225
properties
throughout
New,
York,
New,
Jersey,
Pennsylvania
and
Maryland,
and
over
15,000
units
that
are
currently
owned
and
managed
by
conifer
in
New
York.
You
can
see.
We
have
are
all
over
the
state.
We
have
a
quite
a
few
in
the
Hudson
Valley
in
the
Capital
Region
and
are
looking
to
fill
in
that
kind
of
hole
in
the
middle
of
the
state
where
we
are
right
now.
E
So
this
is
a
the
an
aerial
view
of
25
Delaware
that
has
included
our
future
building
on
the
site.
It's
located
between
the
Hackett
middle
school
and
the
Boys
and
Girls
Club,
and
this
is
a
rendering
that
shows
our
proposed
building.
You
can
see
the
old
fire
signal
building
in
the
foreground,
with
a
four-story
building
behind
it
with
the
main
entrance
to
the
apartments
on
the
right
there.
Below
that
orange
section
of
the
facade,
there
are
a
couple
of
additional
views.
We've
got
to
zoom
in
on
the
main
entrance.
E
I've
got
another
view
from
the
other
intersection
on
Delaware
I
have
and
then
another
view
that
looks
down
the
back
of
the
property.
I
did
say
it
was
four
stories.
It
is
four
stories
over
a
single-story
parking
garage
that
doesn't
quite
take
up
the
fold
footprint
of
the
building
and
it's
partially
submerged.
There
are
some
significant
slopes
with
the
property,
as
you
moved
to
the
the
back
corner
this
floorplan.
Well,
it
might
be
a
little
hard
to
see
this
shows
the
the
first
floor
of
the
both
the
apartment
building
and
the
fire
signal.
E
Building
below
this
floor
is
where
the
parking
garage
is
over
on
the
right-hand
corner
of
the
apartment
building
is
where
the
main
entrance
is.
It's
also
where
the
management
and
leasing
office
are
the
first
floor
of
the
fire
signal.
Building
includes
bike
storage,
as
well
as
that
community
hall
that
Richard
referenced.
That
is
something
that
we
would
make
available
to
local
groups.
Specifically,
we
had
come
from
had
had
conversations
with
the
Neighborhood
Association
about
having
a
place
where
they
could
hold
their
meetings
if
they
wanted
them
there.
E
Moving
up
to
the
second
floor,
this
is
a
fairly
typical
floor
plan
of
what
all
of
the
the
remaining
floors
of
the
apartment
building
look
like,
and
you
can
see
if
they
predominantly
one-bedroom
units
with
a
couple
of
two
bedrooms
on
the
tend
to
be
on
the
ends
of
the
building
as
well.
Its
laundry
on
each
floor.
In
the
second
floor
of
the
fire
signal
building,
it's
where
we
have
a
kind
of
a
resident
community
lounge,
as
well
as
a
fitness
room.
E
E
E
This
is
a
challenging
site,
the
behind
the
fire
signal
building
the
is
this:
the
soils
there
are
pretty
much
poor
fill,
so
we
will
have
to
use
a
pile
datian,
which
is
makes
the
project
expensive,
as
well
as
the
the
parking
garage,
also
makes
it
an
expensive
project,
but
we
feel
that
the
the
parking
is
neat.
The
power
underground
parking
is
needed
to
support
the
residents.
The
pilot
also
allows
us
to
hit
some
of
the
lower
income
targets,
particularly
the
40%
and
50%
of
area
median
incomes
and,
as
Richard
mentioned
in
his
initial
remarks.
E
Getting
a
pilot
from
the
municipality
definitely
makes
us
a
more
competitive
application
as
we
go
in
for
funding
from
the
state.
So
the
the
pilot
is
definitely
something
that
will
help
move
this
project
along
and
find
a
productive
use
for
this
site,
which
I
know
has
been
a
priority
of
the
neighborhood's
for
a
while
ever
since
the
Senior
Center
closed.
E
So
with
that
I
think
that
is
just
a
quick
snapshot
of
our
project.
To
give
you
some
sense
of
what
our
timing
is,
we
are
anticipating
that
the
state
will
release
their
RFP
for
the
next
round
of
funding
in
the
next
week
or
two,
and
we
hope
that
that
RFP
allows
us
to
submit
an
application
to
the
state
sometime
in
the
next
two
months,
and
then
we
would
begin
if
awarded
funding.
We
would
begin
construction
sometime
in
the
first
quarter
of
next
year.
E
Sure
so
its
theorem
has
a
now
it's
a
biannual
funding
application
for
all
of
for
their
resources.
This
is
through
the
New
York
State
homes
and
community
renewal.
The
primary
resource
that
we
would
be
applying
for
is
low-income
housing,
tax
credits,
both
federal
and
state
tax
credits,
as
well
as
we
would
pursue
some
of
the
soft
money
that
the
state
has
available
most
likely
the
housing
trust
fund.
These
are
very
compared
applications.
E
Typically,
the
HTR
receives
anywhere
between
70
70
and
80
applications,
a
funding
cycle
and
then
will
fund,
maybe
15
or
20
of
those
per
year
or
per
funding
cycle.
So
the
the
more
we
can
do
to
increase
the
competitiveness
of
our
application
just
goes
to
increase
the
likelihood
that
this
project
will
happen.
D
E
E
D
E
D
E
B
F
F
F
E
E
E
E
E
A
Because
I
see
you
got
mostly
one
bedroom,
so
really
this
isn't
geared
for
large
families.
It's
geared
for
you
know.
Families
of
you
know
single
to
dual.
Maybe
you
know
one
or
two
kids
maximum
all
right
and
are
you
so
the
rents
are
based
on
individuals
income?
Is
it
130
dating
him
or
how
does
that
work.
E
G
First
I
just
want
to
say
thank
you
so
much
for
making
a
decision
to
invest
in
a
city
of
Albany.
You
know
one
of
the
things
that,
as
a
new
council
member
I
hear
very
too
often
is
when
it
comes
to
construction,
job
opportunities,
there's
always
a
lack
of
diversity
within
the
people
that
live
in
those
communities.
My
question
is:
do
you
have
your
own
construction
firm
that
is
going
to
be
taking
over
this
project?
We.
E
Have
a
partnership
with
Latrese
construction
kind
of
from
the
Tres
construction?
They
are
a
GC.
They
don't
actually
do
any
of
the
building
themselves,
so
they
will
most,
they
most
frequently
put
out
to
bid
to
local
contractors
and
definitely
make
a
effort
to
get
local
contractors
involved
and
to
employ
people
in
the
communities
where
we
are
where
we
are
yeah.
G
G
Yeah
I
just
want
to
give
you
some
just
some
information
right
there,
where
the
project
is
slated.
If
you
walk
down
the
street,
there
is
individuals
in
those
communities
who
are
struggling
particularly
right
now
in
covert
arms.
That
would
love
to
have
some
type
of
construction
job.
So
I
hope
that
you
know
you
communicate
that
to
you
know
your
leadership
communicate
it
with
the
investors.
We
would
like
to
see
people
that
live
in
the
community
on
these
job
sites
and
I
Drive
past
all
the
time.
G
Many
of
the
my
council
colleagues
also
drive
around
some
of
these
sites
during
the
early
stages
and
also
to
the
end.
So
we
will
be
watching
and
I
hope
that
you
would
make
a
concentrated
effort
to
make
sure
that
you
get
some
people
that
live
in
the
community
on
these
job
sites,
particularly
our
brown
and
black
members
of
our
community
I
will.