RESOLUTION NO. 87
AUTHORIZING AN AGREEMENT WITH THE ALBANY COUNTY PINE HILLS LAND AUTHORITY REGARDING AUTHORITY OPERATIONS, DEBT SERVICE, AND ACCOUNTING OF EXPENSES AND AMENDING THE 2025 ALBANY COUNTY BUDGET
Introduced: 3/10/25
By Audit and Finance Committee:
WHEREAS, The College of Saint Rose announced bankruptcy and was shuttering the forty plus acre campus in the heart of the City of Albany, and
WHEREAS, The County of Albany sought to protect the health, safety and welfare of residents and visitors, and
WHEREAS, The County of Albany sought to establish a local authority to protect the campus from blight, and
WHEREAS, The Albany County Pine Hills Land Authority (the "Authority") is a body corporate and politic constituting a public benefit corporation of the State of New York (the "State"), created and existing under and by virtue of Title 28-C of Article 8 of the Public Authorities Law of the State (the "PAL"), Chapter 168 of the Laws of 2024 of the State, as amended from time to time (the "Act"), organized for the purpose of, among other things, acquiring, promoting, and repositioning the campus of the now closed The College of Saint Rose ("Saint Rose") to the highest and best use, and
WHEREAS, The Authority was created and existing under and by virtue of Title 28-C of Article 8 of the Public Authorities Law of the State of New York (the "PAL"), Chapter 168 of the Laws of 2024 of the State, as amended from time to time (the "Act"), organized for the purpose of, among other things, acquiring, promoting, and repositioning the campus of the now closed The College of Saint Rose ("Saint Rose") to the highest and best use, and
WHEREAS, The Authority is authorized and empowered by the provisions of the Act to protect adequate and accessible performing arts centers, athletic fields, educational facilities, and residential facilities; preserve facilities at risk of being underutilized and be...
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