Volume XXV No. 45 Hometown Newspaper for Glen Cove, Sea Cliff, Glen Head, Glenwood, Locust Valley and Brookville Week of 7/21/16 75C Glen Cove Police Department to Host 10th Annual National Night Out on August 2: Arlene O’Dell to be honored Glen Cove prides itself on being a “Community United Against Crime.” To honor that commitment to the safety of our residents, Glen Cove is hosting its 10th Annual National Night Out on Tuesday, August 2nd from 6:00 p.m. to 9:00 p.m. The event will take place on Bridge Street in downtown in front of the Glen Cove Police Department. Mayor Reggie Spinello and Police Chief William Whitton invite all residents to participate in a fun and educational event to support the safety of our community. This year’s National Night Out special honoree will be Arlene O’Dell. O’Dell, the recently retired Executive Director of the Glen Cove Youth Bureau, was selected for her passionate commitment to the National Night Out program for ten years and for her selfless commitment to the growth and development of the City’s children and providing support for their families. National Night Out will include free tours of the Glen Cove Police Department, TASER and police equipment demonstrations by officers, continued on page 2 City Approves In Lieu Of Tax Payments For Garvies Point Project Special City Council meeting packed with residents expressing views for and against In a special City Council meeting held Public Improvement Project”), Series receive repayment of their principal, and Tuesday the Glen Cove City Council 2016, in the approximate aggregate thereafter any and all residual amounts (“GCCDA”), and RXR Glen Isle Partners voted to approve a resolution of the principal amount of $97,000,000, as indicated in Schedule A for the years LLC (the “Company”), dated as of May consenting to the amount and allocation plus reserves, capitalized interest and 2044 through 2056 will be paid to the 14, 2003, as amended and assigned of certain in lieu of tax payments for the other costs of issuance (the “Public Affected Tax Jurisdictions as payments (the “Land Disposition Agreement”), Garvies Point project. Improvement Bonds”) for the purpose in excess of the Priority Tax Payments the Agency is to take actions under the In a vote of four to three, the of financing a portion of the costs of already received. In furtherance of New York Urban Renewal Law and as resolution narrowly passed. Before the the Public Use Improvements and foregoing, the Company and the Agency otherwise permitted by law to effectuate vote, for nearly two hours, residents related costs and expenses (the “Public have requested the consent of the City the Urban Renewal Plan established by expressed their options about the Improvement Project”) to be undertaken pursuant to and in accordance with the GCCDA. proposed approval. by the Agency. General Municipal Law Section 858(15) The Company has submitted an The approved resolution notes, “After payment of interest to the such that the payments in lieu of taxes application (the “Application”) to “The Glen Cove Local Economic bondholders, the Priority Tax Payments can be distributed based on the Priority the Agency requesting the Agency’s Assistance Corporation (the “Issuer”) has in the amounts indicated on Schedule Tax Payments.” assistance with respect to a certain determined to issue its Tax-Exempt and A for the years 2017 through 2038 project (the “Garvies Point Project”) Taxable Revenue Bonds, (“Garvies Point will be paid, then the bondholders will consisting of: (A) the acquisition of The approved resolution read, in part, approximately 56 acres of land located on as follows: Garvies Point Road, Herb Hill Road and Pursuant to that certain Contract for Dickson Street (the “Land”) subject to a Sale of Land for Private Development reservation of an easement in favor of the by and among the Glen Cove Industrial Agency for certain public use areas; (B) Development Agency (“Agency”), Glen Cove Community Development Agency LIEU continued on page 2 Page 2 Gold Coast Gazette Week of July 21, 2016 City Approves In Lieu Of Tax Payments Glen Cove Police Department to Host 10th Annual National Night Out on LIEU continued from page 1 Project on the Affected Tax Jurisdictions, and the direct impacts of development of August 2: Arlene O’Dell to be honored as part of a unified project to effectuate the Facility, including positive impacts continued from cover the purposes of the Urban Renewal Plan, on the tax base of the City, the City the acquisition and construction on the desires to consent to the above described Operation Safe Child ID badges for kids, critical relationship of our police officers Land by the Company of a planned smart Priority Tax Payments. and many other exciting activities. In with the Glen Cove community,” said growth community of certain buildings NOW, THEREFORE, BE IT addition, there will be free refreshments, Police Chief William Whitton. “Safety and other improvements containing: RESOLVED BY THE MEMBERS OF music and information booths to make and neighborhood unity all stem from the (i) certain public use improvements THE GLEN COVE CITY COUNCIL, for a great night of family fun! strength of a strong relationship between (the “Public Use Improvements”); (ii) AS FOLLOWS: Local government officials, police our department and the community we private improvements on the balance of Section 1. The City hereby officers, first responders, and community serve and protect.” the Land (the “Private Use Areas”) with consents to the amount and allocation of leaders are all eager to participate in The event is sponsored by the Glen approximately 486 rental residential the Tax Payments, as well as the deviation this event. “National Night Out is an Cove Police Department, PBA, Youth units, 513 condominium units and 111 from its Uniform Tax Exemption Policy, outstanding program that provides our Bureau, Volunteer Fire Department, workforce housing units (55 for rent and as shown in Schedule A and described residents with an opportunity to build EMS, The Housing Authority, the 56 for sale) (collectively, “Residential above, as follows: relationships with Glen Cove’s law Downtown B.I.D. and local businesses Units”), and retail, restaurant, cultural (i) the fixed payments with a fixed enforcement officers and learn about and organizations. With community and related space (collectively, the allocation to the City and other Affected the many programs and services offered support and participation, National Night “Commercial Space”, and together Tax Jurisdictions based on the Priority by the City and community groups,” Out is an outstanding way to increase with the Residential Units, the “Private Tax Payments payable after interest on said Mayor Spinello. “This is the most crime and drug prevention awareness, Use Improvements” and together the Public Improvement Bonds, as shown important event the Glen Cove Police support local anti-crime efforts, and with the Public Use Improvements, in Schedule A herein, for the years 2017 Department and Police further solidify the already strong ties the “Improvements”); and (C) the through 2038, then the bondholders will Benevolent Association (PBA) between the Glen Cove community and acquisition and installation in and around receive repayment of their principal, and supports each year as it underscores the its hardworking Police department. the Improvements of certain items of thereafter any and all residual amounts as machinery, personal property, fixtures indicated in Schedule A for the years 2044 Cove Animal Rescue to Host Golf and equipment (the “Equipment”, through 2056 will be paid to the Affected and together with the Land and the Tax Jurisdictions as payments in excess Tournament Improvements, the “Facility”). of the Priority Tax Payments, provided, Cove Animal Rescue (CAR) will host adoption between 11 AM and 5 PM. The Public Improvement Bonds will that the actual amounts of the Priority its second annual golf tournament on The shelter is also a great place for fund the necessary public amenities, Tax Payments shown in Schedule A may Thursday, September 8th at the Glen children to learn about animals. On five infrastructure and other improvements to vary due to final structure and pricing of Cove Golf Course. Sign In begins at 11 Mondays this summer, CAR is hosting make the Garvies Point Project a reality the Public Improvement Bonds, as well AM for the scramble format tournament educational sessions for teenagers from and generate tax revenues. After interest as other variables; and with prizes for low score, closest to the the Glen Cove Boys and Girls Club on the Public Improvement Bonds is (ii) the Agency amending and pin, closest to the line, putting and hole- where they will be introduced to the paid, amounts paid by the Company in segregating the agreements from time in-one contests. Liquor, wine, beer and purpose of the shelter and its value to lieu of taxes will be paid to the Affected to time to provide for assignment to dinner will follow at The View Restaurant, the community. The CAR program also Tax Jurisdictions in the amounts affiliates, assigns or successors of the located on the golf course grounds. features talks by professionals about described in Schedule A (the “Priority Company, and to provide for several Proceeds from the tournament directly animal behavior, training and responsible Tax Payments”)…. The Resolution payments by Condo Owners. support CAR’s mission of providing a pet care … information about careers in continues, considering the positive -KCH healthy, safe environment for homeless animal-related fields … as well as ever- financial impact of the Garvies Point cats and dogs and placing them in popular canine agility demonstrations. suitable adoptive homes. Currently, The CAR tournament committee is nearly 100 animals are receiving medical seeking help by your joining us for golf care, food and the loving attention of staff or tee-sign sponsorship.