Message from Green Island Mayor Ellen M. McNulty-Ryan

Welcome to Green Island, New York

Our village is unique in that it couples the benefits of a close-knit, value oriented community with the richness of industry. Our history shows that we have always been at the forefront of economic growth. Green Island was once home to locomotive and railroad manufacturing plants as well as a Ford Motor Company manufacturing plant. Even though many years have passed since they were operational, Green Island continues to be a village of economic and cultural prosperity.

Today the Green Island Power Authority owns and operates a hydroelectric power plant on the Hudson River, underscoring our commitment to social responsibility by supplying clean, environmentally friendly power. Our Village's Industrial Business Park provides many opportunities for growing businesses, making Green Island the essential location for development, while our close knit community makes Green Island the ideal location to live and raise a family.

Here at Green Island, you can find a home, a community, and a future.

Signature

Christmas Caroling with Cheer Intensity

Members of Cheer Intensity will be caroling on Tuesday, December 12th at 6pm. They will be starting at the Christmas tree at the Municipal Center (Water Dept) and caroling up George Street to the Green Island Senior Housing, where they will sing to the residents and anyone else who would like to hear them. People are welcome to join along with the caroling as well.

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Festival of Trees at the GIG

The Village will be holding it’s annual Festival of Trees on Saturday, December 9th at the River Park. Tree decorating starts at 2pm. There will be a community tree for our Veterans. Anyone is welcome to place an ornament on this tree, free of charge.
Santa will arrive at 5pm to light the trees, sing Christmas carols and see all the children.

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NOTICE OF IDA PUBLIC HEARING

NOTICE OF PUBLIC HEARING ON PROPOSED PROJECT AND FINANCIAL ASSISTANCE RELATING THERETO

Notice is hereby given that a public hearing pursuant to Section 859-a(2) of the General Municipal Law of the State of New York (the “Act”) and Section 147(f) of the Internal Revenue Code of 1986, as amended (the “Code”) will be held by Village of Green Island Industrial Development Agency (the “Issuer”) on the 15th day of December, 2017 at 3:00 o’clock p.m., local time, in the Green Island Municipal Center located at 19 George Street in the Village of Green Island, Albany County, New York, in connection with the following matters:

Center Island North, LLC, a State of New York limited liability company (the “Company”), has submitted an application (the “Application”) to the Issuer, a copy of which Application is on file at the office of the Issuer, which Application requested that the Issuer consider undertaking a project (the “Project”) for the benefit of the Company, said Project consisting of the following: (A) the refunding, in whole or in part, of the Issuer’s Industrial Development Revenue Bonds (Rivers Edge Apartments Project), Series 2001 in the original aggregate principal amount of $15,000,000 (the “Prior Bonds”), which Prior Bonds were issued on November 16, 2001 to finance the following project (the “Existing Project”): (i) the acquisition of a leasehold interest in certain real property and improvements thereon in an approximately eleven (11) acre site in the Center Island region of the Village of Green Island, New York (the “Land”), (ii) the construction of approximately 190 residential apartment units, 100 garages and a clubhouse (the “Facilities”) on the Land and (iii) the acquisition of and installation in the Facilities of machinery, equipment and furnishings (the “Equipment”) (the Land, the Facilities and the Equipment hereinafter collectively referred to as the “Existing Project Facility”); (B) the payment of a prepayment penalty fee in connection with the refunding of the Prior Bonds; (C) the acquisition of and installation in the Existing Project Facility of machinery, equipment and furnishings (the “New Equipment”) (the Existing Project Facility and the New Equipment hereinafter collectively referred to as the “Project Facility”); (D) the financing of all or a portion of the costs of the foregoing by the issuance of taxable and/or tax-exempt revenue bonds of the Issuer in one or more issues or series in an aggregate principal amount sufficient to pay the cost of undertaking the Project, together with necessary incidental costs in connection therewith, presently estimated to equal approximately $16,000,000, but in any event not to exceed $18,000,000 (the “Obligations”); (E) the payment of a portion of the costs incidental to the issuance of the Obligations, including issuance costs of the Obligations and any reserve funds as may be necessary to secure the Obligations; (F) the granting of certain other “financial assistance” (within the meaning of Section 854(14) of the Act) with respect to the foregoing, including exemption from certain sales taxes, deed transfer taxes and mortgage recording taxes (collectively with the Obligations, the “Financial Assistance”); and (G) the lease (with an obligation to purchase) or sale of the Project Facility to the Company or such other person as may be designated by the Company and agreed upon by the Issuer.

The Issuer is considering whether (A) to undertake the Project, (B) to finance the Project by issuing, from time to time, the Obligations, (C) to use the proceeds of the Obligations to pay the cost of undertaking the Project, together with necessary incidental costs in connection therewith, and (D) to provide certain exemptions from taxation with respect to the Project, including (1) exemption from mortgage recording taxes with respect to any documents, if any, recorded by the Issuer with respect to the Project in the office of the County Clerk of Albany County, New York or elsewhere, (2) exemption from deed transfer taxes on any real estate transfers, if any, with respect to the Project and (3) exemption from sales taxes relating to the acquisition, reconstruction, renovation and installation of the Project Facility. If any portion of the Financial Assistance to be granted by the Issuer with respect to the Project is not consistent with the Issuer’s uniform tax exemption policy, the Issuer will follow the procedures for deviation from such policy set forth in Section 874(4) of the Act prior to granting such portion of the Financial Assistance.

If issuance of the Obligations is approved, interest on the Obligations will not be excludable from gross income for federal income tax purposes unless (A) pursuant to Section 147(f) of the Code and the regulations of the United States Treasury Department thereunder (the “Treasury Regulations”), the issuance of the Obligations is approved by the Mayor of the Village of Green Island, New York after the Issuer has held a public hearing on the nature and location of the Project Facility and the issuance of the Obligations; and (B) pursuant to Section 142(a)(7) of the Code, at least ninety-five percent (95%) of the net proceeds of the Obligations are used to provide a “qualified residential rental project” within the meaning of such quoted term in Section 142(d) of the Code.

If the Issuer determines to proceed with the Project and the issuance of the Obligations, (A) the Project Facility will be acquired, reconstructed, renovated and installed by the Issuer and will be leased (with an obligation to purchase) or sold by the Issuer to the Company or its designee pursuant to a project agreement (the “Agreement”) requiring that the Company or its designee make payments equal to debt service on the Obligations and make certain other payments and (B) the Obligations will be a special obligation of the Issuer payable solely out of certain of the proceeds of the Agreement and certain other assets of the Issuer pledged to the repayment of the Obligations. THE OBLIGATIONS SHALL NOT BE A DEBT OF THE STATE OF NEW YORK OR THE VILLAGE OF GREEN ISLAND, NEW YORK, AND NEITHER THE STATE OF NEW YORK NOR THE VILLAGE OF GREEN ISLAND, NEW YORK SHALL BE LIABLE THEREON.

The Issuer has determined that the Project constitutes a “Type II action”, as said quoted term is defined in the regulations issued pursuant to Article 8 of the Environmental Conservation Law (the “Regulations”), and accordingly that no environmental impact statement or any other determination or procedure is required under the Regulations regarding the potential environmental impact of the Project.

The Issuer will at said time and place hear all persons with views on the location and nature of the proposed Project, the Financial Assistance being contemplated by the Issuer in connection with the proposed Project or the proposed plan of financing the proposed Project by the issuance from time to time of the Obligations. If the Issuer determines to issue any portion of the Obligations as federally tax-exempt obligations, a transcript or summary report of the hearing will be made available to the Mayor of the Village of Green Island, New York. Approval of the issuance of the Obligations by the Village of Green Island, New York, acting through its elected Mayor, is necessary in order for the interest on the Obligations to qualify for exemption from federal income taxation.

Additional information can be obtained from, and written comments may be addressed to: Sean E. Ward, Chief Executive Officer, Village of Green Island Industrial Development Agency, 20 Clinton Street, Green Island, New York 12183; Telephone: (518) 273-2201.

Dated: November 30, 2017

VILLAGE OF GREEN ISLAND
INDUSTRIAL DEVELOPMENT AGENCY

BY: s/Rachel A. Perfetti
Chairperson

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Notice of Special Meeting of Industrial Development Agency

Please be advised that there will be a Special Meeting of the Village of Green Island Industrial Development Agency on Wednesday, November 29, 2017 at 3:00 p.m. at the Green Island Village Offices, 20 Clinton Street, Green Island, New York.

The purpose of the special meeting is in regard to consideration of a potential River’s Edge refunding of existing bonds.

The agenda will include:

a. Acceptance of IDA Application
b. Discussion of timetable, including the scheduling of a Public Hearing
c. Consideration of SEQR Resolution
d. Consideration of Preliminary Inducement Resolution

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Thanksgiving Holiday Closures

Please note that the Village, Town and GIPA Offices will all be closed on Thursday (11/23) and Friday (11/24) for the Thanksgiving Day holiday. The DPW and GIPA Garages will also be closed during this time.

Police, Fire and Water/Sewer Departments will all be open during this time.

Please call 9-1-1 for any emergencies.

Have a Happy and Safe Thanksgiving!

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Green Island Bridge closure for Troy Turkey Trot

The Green Island Bridge will be closed for the Troy Turkey Trot on Thursday, November 23rd from 7:30am to approximately 12 noon.

The bridge will be closed completely from 7:30-8:30 am. No traffic, including local traffic to the Rivers Edge Apartments, will be allowed thru during this time. After 8:30am, local traffic will be allowed into the Rivers Edge Apartments but there will be no thru traffic to Troy until the end of the races.

The area surrounding the Green Island Bridge, including the south end of George Street, Albany Avenue and Lower Hudson Avenue will be affected with closures, delays and parking restrictions.

Motorists not participating are advised to avoid the area from Exit 8 of I-787 to the Green Island Bridge. Traffic delays are probable during this time. Participants are also reminded that they are to only park in legal parking spaces and watch for any other parking restrictions as well. Parking on the Green Island Bridge is prohibited.

Thank you for your cooperation. Have a safe and Happy Thanksgiving!

 

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NYS Retirement Standard Work Day and Reporting Resolution

Please click here to view the New York State Retirement Standard Work Day and Reporting Resolution for the Elected Officials of the Village of Green Island.

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Black Bridge Trail to be Closed Wednesday

Due to paving and other construction, the Black Bridge Trail will be completely closed to all traffic on Wednesday (11/22) starting from the bridge and 900 feet south on Cannon Street.

Please obey traffic control in the area.

Thank you for your patience.

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Black Bridge Trail to be closed Tuesday, Wednesday and Thursday

Due to paving and other construction, the Black Bridge Trail will be completely closed to all traffic on Tuesday (11/14), Wednesday (11/15) and Thursday (11/16) starting from the bridge and 900 feet south on Cannon Street.

Please obey traffic control in the area.

Thank you for your patience.

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Public Meetings Related to Starbuck Island Proposal

NOTICE OF PUBLIC HEARING

The Village of Green Island Planning Board will hold a public hearing on Monday, November 20, 2017 at 6:15 p.m. at the Green Island Municipal Center, 19 George Street, Green Island, NY.
The purpose of the public hearing is to consider a request from South Island Apartments, LLC for Site Plan Approval and Planned Development District recommendation for the proposed Starbuck Island Mixed Use Development on property located at the southern end of Center Island, Green Island, New York, known as Osgood Avenue and south of the Troy-Green Island Bridge (the “Property”). The recommendation is to the Village Board of Trustees for an amendment to Chapter 169 – §169-17 – Zoning Map to be known as Local Law No. 3 of 2017. The purpose of Local Law No. 3 of 2017 is to update the Village Zoning Map to include the Planned Development District for South Island Apartments on the Property.

All interested parties may appear and be heard.

Dated: November 8, 2017

Anne M. Strizzi, Village Clerk
Village of Green Island

NOTICE OF PUBLIC HEARING

The Village of Green Island Village Board of Trustees will hold a public hearing on Monday, November 20, 2017 at 6:30 p.m. at the Green Island Municipal Center, 19 George Street, Green Island, NY.

The purpose of the public hearing is to consider Local Law No. 3 of 2017. A local law amending Chapter 169 – §169-17 – Zoning Map. The purpose of Local Law No. 3 of 2017 is to update the Village Zoning Map to include the Planned Development District for South Island Apartments at the southern end of Center Island, Green Island, New York, known as Osgood Avenue and south of the Troy-Green Island Bridge.

All interested parties may appear and be heard.

Dated: November 8, 2017

Anne M. Strizzi, Village Clerk
Village of Green Island

cc: Town of Green Island, Town Clerk
City of Troy, City Clerk
City of Watervliet, City Clerk
Rensselaer County, Clerk of the County Legislature
Rensselaer County, County Clerk
South Island Apartments, LLC

The public is encouraged to come and listen to a presentation by project developers regarding the Starbuck Island proposal and the Public Hearing that follows.

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