Documents › Board Of Trustees, 2025-11-19

resolution 1 page

Also attached to this agenda item: Assignment of Village Fee 002 Maple Commons Memo to Croton 11-17-25 Resolution 270-2025 Maple Commons Fee Agreement Amendment

To: From: Date: November 17, 2025 Re: Maple Commons Fee Agreement Amendment The Village Board is considering an amendment to the Maple Commons Fee Agreement this evening. When the property was sold by the Village to Regan Development Corp. in 2022, a fee agreement was executed that provided an additional payment of $20,000 per year to the Village. The fee agreement originally ran concurrently with the 30-year PILOT (payment in lieu of taxes) agreement. Under the current terms, the fee agreement would bring the Village an additional $600,000. As you may recall, there were labor issues at the development site when construction began in early 2023. Picketing at the construction site had the potential to delay the completion of the construction. Such a delay would not have been in the interest of either the builder or the community. The developer and trade unions came to an agreement to use union labor for key positions, which allowed the development to be completed without unnecessary interruption. However, as an affordable housing development funded through New York State, the project margins were extremely thin and the development budget did not anticipate the increased cost of union labor for these positions. To facilitate the settlement of the labor issue and the expeditious completion of Maple Commons, it was necessary to consider an amendment to the fee agreement. The developer has asked that the Village amend the fee agreement to allow the payments in years 1- 5 and a portion of year 6 to be assigned to the general contractor to cover these unanticipated costs, which total $110,867. In exchange for this assignment, half of the payments (totaling $55,934) will be returned to the Village in years 31-37 of the amended fee agreement. Under these proposed terms the amended agreement would yield $544,066 rather than the original $600,000. This amendment would not change the terms of the PILOT or affect payments to other taxing jurisdictions (i.e. the Croton-Harmon School District, Town of Cortlandt, or Westchester County). Further, in anticipation of such an amendment, no revenue from the fee agreement was included in the adopted budget and functionally there is no fiscal impact. Approving this amendment to the fee agreement will help preserve the affordability of Maple Commons, as indicated in the memo from 41-51 Maple LLC, as well as support harmonious labor relations and provide the Village with additional revenue while the project is paying taxes on its full assessed valuation. Please let me know if you have any questions. Thank you. Mayor Brian Pugh Trustees Nora Moriarty Nicholson Cara Politi Len Simon Maria F. Slippen Village Manager Bryan T. Healy Village Treasurer Genette Toone Village Clerk Pauline DiSanto Village Engineer Vincent Salanitro, P.E.