Documents › Board Of Trustees, 2025-11-19

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Also attached to this agenda item: Assignment of Village Fee 002 Maple Commons memo Resolution 270-2025 Maple Commons Fee Agreement Amendment

41-51 Maple LLC 1055 Saw Mill River Road #204 Ardsley, NY 10502 (914) 693-6613 Fax 914-693-1282 TO: Croton-on-Hudson Board of Trustees Village Manager Bryan Healy FROM: Ken Regan 41-51 Maple LLC SUBJECT: Maple Commons Fee Agreement Amendment DATE: November 17, 2025 On behalf of Maple Commons, we wish to thank the Board of Trustees and Village Manager Bryan Healy for the proposed amendment to the fee agreement for Maple Commons. Maple Commons was very pleased to include as part of the original Maple Commons agreement, and separate from the PILOT agreement, a payment to the Village of $20,000 per year for 30 years. This fund, totaling $600,000 over that period, is to be allocated for whatever purposes the Village determines. Because a portion of the very-tight Maple Commons construction budget was dedicated to unanticipated costs associated with the use of union labor, we are grateful that the Village has agreed that part of this fund will be allocated to cover those additional union costs. As noted in your memorandum, Maple Commons will restore 50% of those funds at the conclusion of the PILOT agreement. Working with the Village, Maple Commons was completed in a timely fashion, enjoying a productive relationship with organized labor to the great benefit of the Croton community. Residents began moving in during the fall of 2024 and Maple Commons' first year has been a most successful one for all involved. We look forward to many years ahead of providing affordable housing to Croton at Maple Commons. We will work to ensure that future rent increases at Maple Commons are kept to the level necessary for its sound operation. This amendment will assist in that regard. Thank you for the opportunity to work with you over the years on such an important project and for your assistance regarding this amendment.