Galvan's proposed PILOT to be independently reviewed
Apr 29, 2020 6:00 am
Abby Hoover is reporting for Columbia-Greene Media an independent analysis will be conducted of the proposed PILOT agreement with the Galvan Foundation in support of the organization's apartment complex project in Hudson, Common Council President Thomas DePietro said April 27. The study will be conducted by SUNY New Paltz’s Benjamin Center for Public Policy Initiatives. The proposed Payment in Lieu of Taxes agreement is for a 77-unit housing project to be located at at 7th and State streets on the city's north side. On April 21, the Council voted unanimously to table the resolution authorizing the city to enter into the agreement until a May 4 special meeting. Various aldermen expressed a desire for more time to research, ask questions and gather comment about the plan. The study is expected to completed within four weeks. “The Common Council is committed to increasing affordable housing in Hudson,” DePietro said. “At the same time we need the expertise of the Benjamin Center to analyze the costs and benefits of the PILOT agreement.” The Galvan Foundation, the project developer, is underwriting the study. The proposed PILOT agreement covers 95 percent; the foundation would make an initial payment of $77,000, increasing by 2 percent annually. The foundation’s financial statements, a list of questions and answers between the foundation and the aldermen, a project overview, and a place for residents to add comments is available at the city website. NOTE DePietro is an active volunteer WGXC programmer. Read the full story at HudsonValley360 [dot] com.