Confidential RXR REALTY PORT CHESTER RFQ RESPONSE

Unless otherwise noted, the information in this document is accurate only as ofRXR the date Realty hereof and is subject to change. This communication is confidential and is 1 intended solely for the person to whom it has been delivered. It may not be copied or distributed to the public. Confidential CONFIDENTIALITY AGREEMENT AND DISCLAIMER

 RXR Realty LLC and its subsidiaries and affiliates (“RXR”) are providing you with information and materials (this “Memorandum”) solely for informational purposes regarding a potential transaction. Your receipt and acceptance of this Memorandum constitutes the agreement that (i) you and your representatives and advisors shall use this Memorandum solely for information purposes, (ii) you acknowledge that RXR may be bound to certain confidentiality restrictions regarding the materials contained in this Memorandum and that this Memorandum will be kept strictly confidential, and (iii) that you and your representatives and advisors will not disclose any of the information contained in this Memorandum in any manner whatsoever. Recipients shall limit access to the Memorandum and the confidential information set forth herein to only senior executives, directors and employees of recipient assigned specifically to review and analyze the materials in connection with this transaction, and recipients’ attorneys, accountants, investment bankers and bankers, who reasonably require access to the Memorandum and the confidential information herein, but only to the extent such people agree to keep this information strictly confidential. Notwithstanding the foregoing, RXR reserves the right to require a separate confidentiality agreement in the future. The information contained in this Memorandum has been compiled from sources we consider reliable, and while not guaranteed as to completeness or accuracy, we have endeavored to include in this Memorandum information we believe to be relevant as of the date hereof. Without limiting the generality of the foregoing statements, the inclusion of financial information in this Memorandum does not constitute a representation, warranty, or guaranty of such financial information or of any economic value attributable to the asset or its income that may be derived from such information. This Memorandum may contain non-public material information and data of RXR and may not be used for purposes other than evaluating this opportunity. By receipt and acceptance hereof, you agree that neither RXR nor any of its officers, directors, employees, agents, or representatives shall have any liability to you resulting from the use of this Memorandum.

 Although RXR believes the expectations reflected in any forward-looking statements contained herein are based on reasonable assumptions, forward-looking statements are not guarantees of results and no assurance can be given that the expected results will be delivered. Such forward-looking statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those expected. Among those risks, trends and uncertainties are the general economic climate, including the conditions affecting prospective tenants of commercial properties; financial condition of prospective tenants; changes in the supply of and demand for commercial space in the market; changes in interest rate levels; changes in cost of and access to capital; downturns in commercial leasing markets and ability to lease up in a timely manner at current or anticipated commercial rental rate levels; the availability of financing; changes in operating costs, including utility, real estate taxes, security and insurance costs; liability for uninsured losses or environmental matters; and other risks associated with the operation and maintenance of commercial, residential and retail properties, including risks that the tenants will not execute or perform under leases, or that operating costs may be greater than anticipated. RXR undertakes no responsibility to update or supplement information contained in this presentation. The information contained in this presentation should not be relied upon other than for illustrative purposes. There is no guarantee that past performance is indicative of future results.

RXR Realty 2 Confidential

RXR REALTY OVERVIEW

RXR Realty 3 Confidential RXR REALTY OVERVIEW

RXR Realty is a New York-based, vertically-integrated real estate owner/operator and investment manager, with nearly 500 employees

RXR’s Operating Portfolio1 • Manages 74 commercial real estate properties and investments with an aggregate gross asset value of approximately $17.7 billion1

• 23.7 million square feet of commercial operating properties millions) (sf in and

• 6,000 multi-family and for sale units under development in the New York Metropolitan area

1. Amounts above as of September 30, 2017, adjusted for transactions through October 18, 2017. Gross asset value compiled by RXR Realty in accordance with company fair value measurement policy and is comprised of capital invested by RXR and its partners, as well as leverage.

RXR Realty 4 Confidential RXR REALTY OVERVIEW RXR believes that its most important competitive advantage is its exclusive focus on the New York metropolitan region, giving it the “Power of Local” ▪ Advantages of RXR’s singular focus include: • Singular focus on reputation and delivering on promises (no “Plan B” alternative market)

• Ability to recognize superior risk adjusted return opportunities

• Long-term relationships with owners, tenants, brokers, contractors and local municipalities concentrated in the metropolitan region

• Strong understanding of current market trends

• Exceptional access to tenants and understanding of tenant dynamics

• Regional buying power to operate properties more efficiently

• Proven market credibility due to 3 generations of execution

Long term relationships Trusted partnerships with municipalities and institutions Large and experienced organization Capacity to execute large and complex projects Regional focus – live and breathe New Expertise to analyze potential projects York City markets with confidence and credibility Access to global capital Close and build even through downturns

RXR Realty 5 Confidential RXR REALTY OVERVIEW RXR and its senior management have a long history in Westchester, through their ownership of multiple commercial assets and role in some of the County’s most important TOD projects

Reckson Westchester Presence

Property Name 100 Grasslands Rd 7 2500 Westchester Ave 1 80 Grasslands Rd 8 2700 Westchester Ave 505 White Plains Rd 9 140 Grand Street 555 White Plains Rd 10 360 Hamilton 2 560 White Plains Rd 11 520 White Plains Road 580 White Plains Rd 12 100/120 White Plains Road 3 660 White Plains Rd 1 International Drive 701 Westchester Ave 2 Interenational Drive 707 Westchester Ave 3 Interenational Drive 13 4 709 Westchester Ave 4 Interenational Drive In 2006, Reckson Associates was sold to 711 Westchester Ave 5 Interenational Drive SL Green, after which the senior 777 Westchester Ave 6 International Drive 925 Westchester Ave 100 Summit Drive management of Reckson reconstituted 5 itself as RXR; at the time of its sale, 1025 Westchester Ave 14 200 Summit Drive 105 Corporate Park Drive 500 Summit Drive Reckson was a major owner/manager in 106 Corporate Park Drive 15 115/117 Stevens Ave 6 Westchester with 5.9 million square feet 108 Corporate Park Drive of office space in the County 110 Corporate Park Drive

RXR Current Assets and Holdings in Westchester

RXR Realty 6 Confidential RXR REALTY OVERVIEW For RXR, the mark of project success comes not through the securing of approvals, but the ultimate translation of plans into real development

RXR Major Project Milestones: 2016/2017 810 Fulton Construction Start Atlantic Station Leasing Garvies Point Groundbreaking Brooklyn, NY Commencement Glen Cove, NY Stamford, CT

As of 11/16/17

Pier 57 Tenant Turn-Over Grand Opening New York, NY New York, NY

As of 11/16/17

RXR Realty 7 Confidential RXR REALTY OVERVIEW One of RXR’s key strengths is the partnerships that it has formed with municipalities and institutions across the region to help reconceive and redevelop areas in-need of investment

RXR Emerging Sub-Market Projects RXR Emerging Sub-Market Projects 1 Stamford, CT Sample Project: Atlantic Station 1 - 325 Rental Units - 19k SF Retail Yonkers, NY 2 Sample Project: See Case Study 3 New Rochelle, NY 3 2 Sample Project: See Case Study 1 Huntington Station, NY 4 3 Sample Project: Master Developer - Mixed-use master development on 20+ acres of municipal land Glen Cove, NY 5 4 Sample Project: See Case Study 2 5 North Hills, NY 6 Sample Project: Master Developer - 330 luxury condominium units Hempstead Village, NY 6 7 Sample Project: Master Developer - To consist of up to 3,500 multifamily units Brooklyn, NY Sample Project 1: 810 Fulton Street - 363 rental units (80/20 project) 8 8 7 - 30k SF retail Sample Project 2: Brooklyn Campus - To consist of 700+ rental units

RXR Realty 8 Confidential RXR REALTY OVERVIEW RXR believes that its success in its emerging sub-market portfolio is owed to its sensitive approach to these projects, as well as the unique capabilities that its scale brings with it

The RXR Approach to Municipal and Instutional Partnerships

• Significant community outreach

• Close collaboration with municipal officials Among the sources funding RXR’s investments in emerging sub-markets today • Success navigating challenging politics and building consensus are a $300MM Emerging Sub-Market Fund, as well as a significant allocation of RXR’s • History of structuring win-win agreements with aligned interests $1BN VAF III Fund, each of which is matching capital from institutional investors • Access to deep pools of capital from around the world with the needs of communities around the region • Expertise in developing plans that are realistic

• Record of delivering on promises

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THE RXR TEAM

RXR Realty 10 Confidential THE RXR TEAM RXR has focused senior resources on this opportunity, including Scott Rechler…

Chief Executive Officer and Chairman • Current Highlights: • Oversees one of New York’s largest owners, managers and developers of real estate • $17.7BN portfolio • 23.7MM SF of commercial space under management • Approximately 6,000 residential units in pipeline • Previous Experience: • Served as Chief Operating Officer (1995-1999), President (1997-2001, 2003-2006), Co-Chief Executive Officer (1999-2003), Chief Executive Officer (2003-2007) and Chairman (2004-2007) of Reckson Associates Realty Corp. Scott Rechler • Architect of Reckson’s $300MM IPO in 1995 CEO and Chairman • Sold Reckson to SL Green Corp. for $6.2BN in January 2007 (715% total return to shareholders) • Civic Positions • Chairman, Regional Plan Association • Board Member, Metropolitan Transportation Authority • Vice Chairman, Board of Commissioners (2011 – 2016); Chairman, Capital Planning Committee, Port Authority of New York and New Jersey (2011 – 2016) • Board Member, The National September 11 Memorial & Museum at the World Trade Center Foundation, Inc. • Member, Real Estate board of New York • Member, Hofstra Honors College Advisory Committee • Member, NYU Real Estate Institute Advisory Committee • Board Member, The Long Island Children’s Museum • Board Member, The Feinstein Institute for Medical research • Co-Chairman, Tribeca Film Institute

RXR Realty 11 Confidential THE RXR TEAM …who is one of the most active figures in New York City real estate

The Starrett-Lehigh Building

230 1285 Avenue of the Americas

(2015)

5 Pier 57 75 Rockefeller Plaza

RXR Realty 12 Confidential TIDENTIFIEDHE RXR TIEAMNVESTMENTS AND PIPELINE Phil Wharton is another member of RXR’s senior team…

Executive Vice President and Director of Multi-family Development • Oversees and directs RXR’s multi-family development activities • Prior to joining RXR, worked with several well-known residential developers, including Brookfield Property Partners, AvalonBay Communities and LCOR o Developed 3.5 million sf of multi-family projects valued at over $2.3 billion, including West, an approximate $800 million apartment tower with 844 dwelling units, which is part of a $5 billion mixed use project in Hudson Yards,

Philip Wharton Select Project Experience Gross Est. Gross Value Project Name Location Type Square Feet Units at Development Manhattan West Manhattan Residential 591,083 844 $774,749,000 Willoughby Square Brooklyn Residential 606,284 826 444,900,000 Fort Greene Brooklyn Residential 498,651 631 302,124,000 West Chelsea Manhattan Residential 226,556 710 228,950,000 Sound East New Rochelle Residential 569,735 588 180,500,000 Riverview North Queens Residential 477,665 602 169,007,000 White Plains White Plains Residential 372,406 407 152,755,000 Morningside Park Manhattan Residential 245,320 295 115,114,000 Total 3,587,700 4,903 $2,368,099,000

RXR Realty 13 Confidential TIDENTIFIEDHE RXRINVESTMENTS TEAMAND PIPELINE Selection…with extensive of Phil Wharton’sentitlement Past and Projectsdevelopment experience throughout the metropolitan region

Manhattan West Willloughby Square Fort Greene West Chelsea

Sound East Riverview North White Plains Morningside Park

RXR Realty 14 Confidential THE RXR TEAM A newly added senior member of RXR’s team is Joanne Minieri…

Executive Vice President of RXR Realty and Chief Operating Officer of RDS & RCD • Prior to joining RXR, served as Deputy County Executive and Commissioner of Suffolk County Economic Development and Planning. • Also was President and Chief Operating Officer, Forest City Ratner Companies • Civic positions which include: • Chairperson, Suffolk County Industrial Development Agency Joanne Minieri EVP, Chief Operating • Chairperson, Suffolk County Economic Development Corp. Officer of RDS & RCD • Board Member, Trinity Place Holdings, Inc. • Board Member, NEW-Non-Traditional Employment for Women • Member, American Institute of CPA’s • Member, New York State Society of CPA’s

RXR Realty 15 Confidential THE RXR TEAM …who has been involved in a number of transformative developments in Downtown Brooklyn and beyond

MetroTech 80 Dekalb Avenue Atlantic Yards/Pacific Park Barclays Center

New York Times Building 8 Spruce Street

RXR Realty 16 Confidential THE RXR TEAM Another senior member of RXR’s dedicated team is Seth Pinsky…

Executive Vice President and Fund Manager, Emerging Sub-Market Fund • Leading RXR’s efforts to invest in “emerging opportunities” in NYC and the region • Prior to joining RXR, served as Director of Mayor Bloomberg’s Special Initiative for Rebuilding and Resiliency

Seth Pinsky o Developed a $20 billion plan to help neighborhoods stricken by Hurricane Sandy EVP, Fund Manager • Also served as President of the New York City Economic Development Corporation o Appointed by Mayor Michael Bloomberg in 2008, after joining the agency in 2003 as a vice president o During tenure, NYCEDC became an international leader in the field of economic development, focusing both on transforming the city’s underlying economy and investing in its critical infrastructure

RXR Realty 17 Confidential THE RXR TEAM …who also brings extensive local development experience to the table

East River Ferry Hunters Point South Cornell-Technion

Gotham Center Queens Plaza Streetscape Jackson Ave. Streetscape

RXR Realty 18 Confidential THE RXR TEAM

David Garten joined RXR in 2017 and brings with him a wealth of experience

▪ Senior Vice President, Infrastructure Investment ▪ Previous Experience: • Senior Executive, Port Authority of New York & New Jersey • Senior Executive, New York Metropolitan Transportation Authority • Leadership roles in the redevelopment of the new LaGuardia Airport, new JFK International Airport and the development of multi-billion dollar capital plans • Extensive experience in federal grant and innovative financing programs with a track record of securing billions in federal investment for the region’s infrastructure

David Garten • BS, Ferrum College; MS/MPA, Columbia University SVP; Infrastructure Investment

RXR Realty 19 Confidential TIDENTIFIEDHE RXRINVESTMENTS TEAMAND PIPELINE Selection…with extensive of Phil Wharton’sentitlement Past and Projectsdevelopment experience throughout the metropolitan region

3 World Trade Center LaGuardia Airport Goethals Bridge Redevelopment

JFK International Airport Master Plan East Side Access Second Avenue Subway

RXR Realty 20 Confidential THE RXR TEAM Rounding out RXR’s senior development team is Greg Clancy, an executive with a proven track- record in the region and beyond

1 Strand Theater Yonkers Larkin Tower

Greg Clancy VP, Development

Greg Clancy - Select Experience Gross Est. Gross Value Project Name Location Type Square Feet Units at Development 1 Bryant Park Commercial 2,100,000 N/A $1,000,000,000 Midtown Manhattan Commercial 861,000 N/A $500,000,000 BIOBAT Brooklyn, NY Medical Lab 500,000 N/A $50,000,000 Manhattan Cruise Terminal Midtown Manhattan Commercial 360,000 N/A $175,000,000 Strand Theater Brooklyn, NY Cultural 75,000 N/A $40,000,000 NY Harbor Siphon Tunnel Under NY Harbor Infrastructure 10,000LF N/A $350,000,000 Steeple Chase Plaza Brooklyn, NY Park/Recreation 3 Acres N/A $25,000,000 Pier 57 West Side, Manhattan Commercial 680,000 N/A $350,000,000 Atlantic Station Stamford, CT Residential 350,000 325 $135,000,000 Yonkers Larkin Tower Yonkers, NY Residential 600,000 442 $200,000,000 Total 5,526,000 767 2,825,000,000

RXR Realty 21 Confidential THE RXR TEAM

FXFOWLE (Architects and Planners)

▪ Company Description: Founded in 1978, practice encompasses architecture, interior design, planning and urban development • Award-winning portfolio of projects spans the globe and addresses a range of scales and typologies, including office buildings; multi-family residential; mixed-use; retail; cultural facilities; K-12 and higher education institutions; corporate; not-for-profits; international projects; planning/urban design; and infrastructure/transportation • Work ranges from individual buildings—including adaptive re-use and renovation to new construction—to whole cities ▪ Offices in New York and Washington, DC, firm is committed to innovative design inspired by urbanism, technology and sustainable strategies ▪ Notable past projects include: Residential Office & Headquarters Cultural & Civic Planning - 35XV - Eleven Times Square - Lincoln Center North Plaza - Westbury DRI - The Forge - SAP Headquarters - Alice Tully Hall - Hunter’s Point South - Northside Piers - Center for Global Conservation - Javits Center Renovation - The Boro ▪ Notable current projects: One Willoughby Square, 3 Hudson Boulevard, Statue of Liberty Museum, & La Central ▪ Project Team: Mark Strauss FAIA AICP, Dan Kaplan FAIA, Gustavo Rodriguez CODIA

La Central The BORO

RXR Realty 22 Confidential THE RXR TEAM

FXFOWLE (Architects and Planners) (Cont’d)

WESTBURY DOWNTOWN REVITALIZATION INITIATIVE

TOD AREA ▪ 26 Acres ▪ 1.5 Million SF of Mixed Use Development ▪ Status: Rezoning Effort Funded by DRI Process

RXR Realty 23 Confidential THE RXR TEAM

AKRF (Environmental/ Engineering Consultant)

▪ Company Description: Founded in 1981, firm is a leading environmental, planning and engineering consulting firm • Integrated approach draws on a wide range of technical specialties to develop real-world solutions for complex and time-sensitive projects; AKRF combines the breadth and resources of larger firms with the specialized expertise and attentiveness offered by smaller offices ▪ Over the years, firm has expanded from New York City, opening regional offices in Hudson Valley, Long Island, Baltimore/Washington, New Jersey, and Philadelphia. • Offices offer firm’s full range of environmental, planning, and engineering services while meeting the special needs of local markets ▪ Firm offers consulting services in the areas of acoustics, noise and vibration, air quality, climate change, cultural resources, economics, environmental impact assessment, geographic information systems, landscape planning and design, municipal and regional planning, natural resources, permitting and compliance, site assessment and remediation, site/civil engineering, and traffic and transportation ▪ Notable past projects: Second Avenue Subway; Tappan Zee Hudson River Crossing; Easton PA Comprehensive Plan; Wyandanch Intermodal Transit Oriented Development Master Plan; Nanuet Transit Oriented Development Master Plan; Harbor Island Park Master Plan; and MSK Cancer Center/ CUNY-Hunter Health Care Building ▪ President and CEO: Andrew Malek

MSK Cancer Center Second Avenue Subway

RXR Realty 24 Confidential THE RXR TEAM

AKRF (Environmental/ Engineering Consultant) (Cont’d)

Easton, PA - Comprehensive Plan Nanuet TOD Plan, Town of Clarkstown, NY ▪ "Best Planning Project" award from Lehigh Valley Planning Commission ▪ Mapped existing development opportunities and constraints around the Nanuet ▪ Conducted real estate and market analyses MetroNorth station ▪ Identified implementable projects, including infill opportunities and ▪ Facilitated public engagement meetings and helped develop and illustrate various programming suggestions TOD alternatives that include improvements to the public and private realms

Wyandanch Intermodal Transit New Rochelle, NY (various projects) ▪ Transit-oriented development centered on a new transit facility in the Town of ▪ City-wide study that identified and prioritized areas for implementation of Babylon Complete Streets ▪ Conducted land use and zoning analyses ▪ Evaluated and designed various downtown circulation improvements, including ▪ Assisted in the creation of a TOD master plan pedestrian improvements near the train station and converting one-way street pairs into two-way streets ▪ Completed Brownfield Opportunity Area (BOA) application ▪ Performed the 47-intersection traffic study for the recently adopted downtown ▪ Prepared feasibility studies for development and state and federal environmental rezoning reviews

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DOWNTOWN REDEVELOPMENT CASE STUDIES

RXR Realty 26 Confidential DOWNTOWN REDEVELOPMENT CASE STUDY

Case Study 1: New Rochelle Downtown Redevelopment

▪ Project Description: 587 Main Street • RXR designated co-master developer for Downtown New Rochelle redevelopment in 2015 • RXR designated sole master developer in 2017, controlling approximately 3MM sf of development rights on City-owned parcels

▪ Approvals Secured: Working with co-master developer and municipality, secured unanimous City approval of 11MM+ square foot, mixed-use redevelopment plan, 51 weeks after designation

▪ Project Status: • 587 Main Street: 28-story, 280-unit first phase, containing 15k square feet of retail and 10k square feet of cultural space o Ground breaking in early 2017 Church/Division - Rendering o Construction up to 14th Floor, with interior mechanicals and framing to begin imminently o Commencing renovation and restoration of historic Main Street frontage • Church/Division Site: Approximately 700-unit project in two 28-story towers, containing approximately 30k SF of retail and public open space o Completed initial site investigation and conceptual design o Advancing schematic designs o Planning submission to City Planning Board in 1Q18 o Planning construction commencement in 4Q18 • Master Planning: Completing development studies for remaining RXR- controlled sites with Torti & Gallas Architecture

RXR Realty 27 Confidential DOWNTOWN REDEVELOPMENT CASE STUDY

Case Study 2: Garvies Point Redevelopment Project (Glen Cove, NY)

▪ Project Description: • RXR designated master developer of 56-acre, former Superfund industrial site on the Glen Cove waterfront • Project to be comprised of 1,100 residential units, 75,000 square feet of commercial/retail/cultural space, and 28+ acres of public amenities and open space

▪ Approvals Secured: Secured master plan and infrastructure approvals, ▪ Bodies from which approvals secured include City of Glen Cove Planning Board, City of Glen Cove City Council, City of Glen Cove Industrial Development and Community Development Agencies and US EPA

▪ Status: • Worked with City on issuance of $150MM in innovative PILOT-backed infrastructure bonds • Broke ground in early 2017 on two multi-family rental projects, containing 385 units, a condominium containing 167 units • Managing construction of infrastructure work, with completion expected in 1Q19 • Acquired adjacent Village Square site in early 2017, on which RXR will develop a 146-unit rental project linking Garvies Point with the heart of downtown Glen Cove

Garvies Point: 1950

RXR Realty 28 Confidential DOWNTOWN REDEVELOPMENT CASE STUDY

Case Study 3: Larkin Plaza Development (Yonkers, NY)

▪ Project Description: 439 unit mixed-use residential project the along the “daylighted” Saw Mill River, steps from the Yonkers Metro-North station

▪ Approvals Secured: Secured key zoning changes, approvals from Yonkers IDA, $3.2MM in State and federal loans and grants, and inclusion of project in New York State Brownfield Credit program

▪ Status: • Commenced construction in December 2016 • Topped off 17-story “Tower C” in November 2017, with 25-story “Tower A” topping off projected for June 2018

Rendering As of November 2017

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CONCLUSION

RXR Realty 30 Confidential CONCLUSION RXR welcomes the chance to partner with Port Chester and its residents to help build on the Village’s many assets, marrying the strengths of the Village with those of RXR

Port Chester Strengths RXR Strengths

✓ Highly appealing, walkable downtown ✓ Collaborative approach to planning and development ✓ Beautiful setting ✓ History of navigating challenging political ✓ Diverse population environments

✓ Excellent transit connectivity ✓ History of securing win-win relationships with municipal and institutional partners ✓ Access to highly-desirable pool of labor and consumers ✓ Access to significant sources of capital

✓ Village government open to well-planned, ✓ History of delivering on development contextual development promises

RXR Realty 31 Confidential

625 RXR Plaza Uniondale, New York 11556

RXR Realty 32