Documents › Waterfront Advisory Committee, 2026-02-18

resolution 6 pages

Also attached to this agenda item: Resolution 35-2026 Kroll Agreement

Kroll | Village of Croton-on-Hudson January 8, 2026 January 8, 2026 Mr. Daniel Tucker Village Treasurer Village of Croton-on-Hudson One Van Wyck Street Croton-on-Hudson, NY 10520 Dear Mr. Tucker: Kroll, LLC (“Kroll”) will provide Village of Croton-on-Hudson (“the Village”) the consulting services described within this agreement (“Agreement”). Purpose of the Engagement The purpose of this engagement is to provide the Village updated fixed asset accounting records for internal accounting control and financial reporting as of May 31, 2026. Engagement Scope We will inventory, reconcile, and report the historical cost of the Village’s identified fixed assets. Description of Identified Fixed Assets The identified fixed assets are located at various sites as identified by the Village in the Property Schedule (Exhibit B). These asset classifications will be included in the engagement: 1) Machinery and equipment We understand the machinery and equipment is located within 39 buildings totaling approximately 122,432 square feet. Assets not identified above will be excluded from the engagement. If requested, fixed assets not inventoried by us may be segregated and incorporated into our report based on information supplied by the Village. We will work with the Village during the engagement to further refine the scope of identified fixed assets to be included in the engagement, if applicable. Depending on the nature and extent of changes in the scope of the engagement we may need to revise our fee. Kroll | Village of Croton-on-Hudson January 8, 2026 Definition of Historical Cost Historical cost is defined by Generally Accepted Accounting Principles as the amount of cash, or its equivalent, paid to acquire an asset. Scope of Work We anticipate this engagement will include the following: Machinery and Equipment We will inspect the Village’s locations identified in the Property Schedule to inventory machinery and equipment with a unit cost over $2,500 and apply a barcode tag. Reconciliation and Historical Cost Estimation After the inventory is complete, we will perform the following steps: 1) Reconcile the inventory to the fixed asset accounting records as maintained by the Village identifying the following: a) Assets that were inventoried and traced to the fixed asset accounting records b) Assets included in the fixed asset accounting records that were not located during the inventory (unrecorded retirements) c) Assets that were inventoried but not located in the fixed asset accounting records (unrecorded additions) 2) Estimate historical cost of unrecorded additions using standard or normal costing techniques. Normal costing involves estimating the historical cost of an asset by reverse trending the replacement cost new back to the date of acquisition. For standard costing, we estimate the historical cost of an asset by comparing it with the known average installed cost of an identical or similar unit at the estimated acquisition date of the subject identified fixed assets. 3) Calculate accumulated depreciation for the identified fixed assets and depreciation expense for the current fiscal year, consistent with the methodology employed by the Village. Terms and Conditions This Agreement is subject to and incorporates the Terms and Conditions attached as Exhibit A. Kroll | Village of Croton-on-Hudson January 8, 2026 Fee The fee is $15,300 plus expenses, and will be invoiced as follows:  $4,600 upon authorization of the engagement  Progress billing as time is charged and expenses are incurred This fee includes issuing the deliverables below and responding to customary questions from the Village and its auditor or advisors. Additional fee will be required for an increase in engagement scope or involvement in subsequent reviews beyond the customary work effort. the Village may cancel this engagement at any time and will only be obligated for fees and expenses incurred. Our fee is not contingent on our deliverable; or any subsequent event related to it. Timing and Deliverables This engagement will require cooperation, access, and timely receipt of requested information from management of the Village. After this Agreement is signed and all requested information is received, we will begin our analyses and provide our Final report within 6 weeks after site inspection completion. The report will be provided in electronic format and will present our conclusions and related narrative discussion of the supporting analyses and assumptions, along with appropriate exhibits. Additional relevant information and analyses considered will be retained in our work files. Conclusion We appreciate the opportunity to serve the Village. To authorize, please sign below and return the full executed copy to Cara.Knorre@kroll.com. This Agreement shall remain valid for signature for 30 days. Please contact me at 414 225 1031 with any questions. Scott Hamm Managing Director Client of Record: Signature: ______________________ Name: Title: Date: Kroll | Village of Croton-on-Hudson January 8, 2026 Exhibit A – Terms and Conditions Entire Agreement – This is the entire Agreement between Kroll and the Village and supersedes any prior oral or written agreements. This Agreement may only be modified in writing signed by both parties. Any purchase order covering this engagement is only for the Village’s internal needs and shall not modify this Agreement. Fees – Kroll’s invoices are payable upon receipt. If payment of any invoice is not received within 45 days of the invoice date, Kroll shall be entitled, without prejudice to any other rights that it may have, to suspend services until all sums due are paid in full. In the event that Kroll is required to initiate a lawsuit or hire attorneys to collect any past due amounts, in addition to any other rights and remedies available, it shall be entitled to reimbursement of attorneys’ fees and other costs of collection. Limited Use and Reliance – the Village is the sole intended user of Kroll’s report or other work product. the Village may disclose an informational copy of the report or other work product to its audit, tax, legal, or insurance professionals acting in an advisory capacity in connection with the purpose of this engagement. No third party shall have the right of reliance on the report, and neither receipt nor possession of the report by any third party shall create any express or implied third-party beneficiary rights. Confidentiality – Kroll shall maintain the confidentiality of the Village’s information and will not disclose or use it for any purpose other than in connection with this engagement. This excludes information (i) available to the public, (ii) already in Kroll’s possession, or (iii) received from a party having no confidentiality obligation to the Village. Kroll may include the Village’s name and logo in its client list. Engagement Limits – Kroll‘s work may only be used for the specific purpose or premise of value stated in this Agreement and the work product. the Village shall not reference Kroll or its work in any public filing or other materials distributed to actual or prospective shareholders, investors, financing parties, or similar third parties without Kroll’s prior written consent. Independent Contractor – Kroll shall perform as an independent contractor, with no authority to bind or obligate the Village in any way. Information Provided by the Village – Kroll will not independently verify information provided by the Village, its advisors, or third parties acting at the Village’s direction. Kroll will assume and rely on the accuracy and completeness of all such information. Retention – All files, documents, and work papers received, created, or developed during the engagement will be retained for professional recordkeeping and legal/regulatory compliance purposes, all in accordance with Kroll’s document retention policy. If required by applicable law to disclose any of the documents, Kroll will, unless legally prohibited, notify the Village so it may seek a protective order at its discretion. Indemnification – the Village shall indemnify and hold harmless Kroll and its affiliates, including each of their respective employees, from and against any and all liabilities, losses, costs, and reasonable expenses, including, but not limited to, reasonable legal fees and expenses and billable hours of client service personnel, which are (i) incurred in responding to subpoenas, discovery, or other similar inquiries associated with or arising from the engagement or (ii) arising from or relating to third-party claims based on reliance or purported reliance on Kroll’s work product or other alleged loss or damage caused to or Kroll | Village of Croton-on-Hudson January 8, 2026 alleged by any nonclient entity arising from unauthorized access to or reliance upon Kroll’s work product. The foregoing indemnification obligations shall not apply in the event that a court of competent jurisdiction finally determines that such claims resulted directly from the gross negligence, willful misconduct, or fraudulent acts of Kroll. Limitation of Liability – In no event shall Kroll be liable to the Village (or any person claiming through the Village) under this Agreement, under any legal theory, for any amount in excess of the total professional fees paid by the Village to Kroll in connection with this engagement, except to the extent such liability is directly caused by Kroll’s gross negligence, fraud, or willful misconduct. The foregoing limitation of liability shall not apply to liabilities that arise from personal injury or property damage resulting primarily from Kroll’s negligence or willful misconduct. In no event shall Kroll be liable to the Village for any consequential, indirect, lost profit, or similar damages relating to or arising from this engagement. Environmental Policy – Kroll will not investigate, nor assume responsibility for, the existence or impact of any contamination or hazardous substance related to property or assets associated with this engagement. Governing Law – This Agreement is governed by and construed in accordance with the laws of the State of New York. Kroll | Village of Croton-on-Hudson January 8, 2026 Exhibit B – Property Schedule Member Number Site Number Site Name Building Number Building Name Square Feet VILLAGE OF CROTON-ON-HUDSON VILL TOWN HALL VILLAGE OF CROTON-ON-HUDSON VILL PROPERTY IN THE OPEN HEISSIAN HILL REPEATER BUILDING HEISSIAN HILL REPEATER BUILDING 15 MOUNT AIRY ROAD DEVELOPMENT PROPERTY IN THE OPEN DPW GARAGE 435 YORKTOWN ROAD DPW GARAGE GOUVEIA PARK GOUVEIA PARK BULIDING PARKING LOT PROPERTY IN THE OPEN POLICE POLICE SHED THROUGHOUT VILLAGE FIRE DEPARTMENT DPW DEPARTMENT OF PUBLIC WORKS DPW SALT SHED DPW DEPARTMENT OF PUBLIC WORKS CROTON HARMON PAY STATION # 1 DPW DEPARTMENT OF PUBLIC WORKS STORAGE BUILDING DPW DEPARTMENT OF PUBLIC WORKS CROTON HARMON PAY STATION # 2 DPW DEPARTMENT OF PUBLIC WORKS OFFICE TRAILER FH01 HARMAN STREET FIREHOUSE HARMAN STREET FIREHOUSE FH02 GRAND STREET FIREHOUSE GRAND STREET FIREHOUSE FH03 WASHINGTON STREET FIRE COMPANY WASHINGTON STREET ENGINE COMPANY P001 HARRISON STREET PARK PROPERTY IN THE OPEN P002 DOBB'S PARK PROPERTY IN THE OPEN P003 FIREMAN'S FIELD PARK PROPERTY IN THE OPEN P004 SUNSET PARK PROPERTY IN THE OPEN P005 SILVER LAKE PARK SILVER LAKE RESTROOM BUILDING P005 SILVER LAKE PARK PAVILION P006 DUCK POND PLAYGROUND STORAGE BUILDING P007 CROTON BAY BOAT PARK PROPERTY IN THE OPEN P008 SENAQUA PARK RESTROOM AND OFFICE BUILDING P008 SENAQUA PARK PAVILION # 1 P008 SENAQUA PARK PAVILION # 2 P009 SKATE PARK WORKSHOP BUILDING P009 SKATE PARK SIGN SHOP BUILDING P010 BLACK ROCK PARK STORAGE BUILDING P011 HALF MOON BAY ROAD PROPERTY IN THE OPEN P012 CROTON LANDING PARK RESTROOM BUILDING P013 VASSALLO PARK PROPERTY IN THE OPEN S01 ARROWCREST SEWAGE PUMP STATION SEWAGE PUMP STATION S02 SKYVIEW PUMP STATION PUMP STATION S03 HALFMOON BAY PUMP STATION PUMP STATION S04 NORDICA PUMP STATION PUMP STATION W01 WATER / SEWER PARK PUMP STATION # 1 W01 WATER / SEWER PARK PUMP STATION # 2 W01 WATER / SEWER PARK PUMP STATION # 3 W01 WATER / SEWER PARK PUMP STATION # 4 W01 WATER / SEWER PARK OFFICE BUILDING W01 WATER / SEWER PARK STORAGE BUILDING W02 NORTH HIGHLAND PUMP STATION PUMP STATION W03 HESSIAN HILLS PUMP STATION PUMP STATION