2016-125 2016-125
Resolution Granting License Agreement And Authorizing Acceptance Of Performance
Agreement Secured By Letter Of Credit In Connection With The Ridges Subdivision
At a Regular Meeting of the Town Board of the Town of Wappinger, Dutchess County,
New York, held at Town Hall, 20 Middlebush Road, Wappingers Falls, New York, on March 28,
2016.
The meeting was called to order by Lori A. Jiava, Town Supervisor, and upon roll being
called, the following was recorded:
✓Vote Record-Resolution RES-2016-125
Q Adopted Yes/Aye No/Nay Abstain Absent
❑ Adopted as Amended Lori A.Jiava Voter Q ❑ ❑ ❑
❑ Defeated William H.Beale Mover Q ❑ ❑ ❑
El Tabled
William Ciccarelli Seconder Q ❑ ❑ ❑
❑ Withdrawn John J.Fenton Voter Q ❑ ❑ ❑
Michael Kuzmicz Voter Q ❑ ❑ ❑
The following Resolution was introduced by Councilman Beale and seconded by
Councilman Ciccarelli.
WHEREAS, Town of Wappinger Planning Board had received application for
subdivision approval from LMD Property Holdings, LLC as applicant, and Irma and Ronald
Farfaro, as owners, for Preliminary and Final Subdivision Plat approval for the subdivision of a
parcel of land totaling 15.95 acres into 9 lots, with the existing home remaining on Lot 9, (herein
after referred to "THE PROJECT"); and
WHEREAS, the subject property is known as Tax Lot No. 6257-04-616448 on the Town
of Wappinger Tax Assessment Maps as located at 383 Old Hopewell Road, within an R40 one
family residence district, (hereinafter referred to "THE SUBJECT PROPERTY"); and
WHEREAS, the applicant and the owner received preliminary and final subdivision plat
approval by Resolution of the Planning Board dated June 15th, 2015, subject to and conditioned
upon completion of the conditions and various required improvements set forth in the
aforementioned Resolution and as further set forth in the subdivision map and related
construction drawings, all in accordance with the Town of Wappinger Subdivision Regulations,
Zoning Code, and Highway Specifications; and
WHEREAS, Lawrence J. Paggi, PE, PC, Engineer for the Town Planning Board for this
project, by letter dated February 1 st, 2016, (a copy is attached), has determined that the estimated
construction costs for the proposed improvements to be Four Hundred Three Thousand Five
Hundred Sixty-Seven Dollars and 20/100 ($403,567.20), and is the amount of security to be
posted to guarantee the completion of the improvements required in connection with the
aforementioned Ridges Subdivision; and
WHEREAS, Town Law Section 277 requires that a developer of a subdivision guarantee
the construction, installation, and dedication of the improvements required by the Resolution of
Subdivision Approval, prior to issuance of any building permits; and
WHEREAS, LMD Property Holdings, LLC, has agreed to sell the eight (8) vacant lots
within the subdivision to Mid-Hudson Holdings, LLC, with an address at 5 Willard Court,
Poughquag, New York 12570; and
WHEREAS, Mid-Hudson Holdings, LLC has agreed to assume all of the obligations to
complete the improvements set forth above and to post a Performance Agreement executed by
John Goetz, a Member of Mid-Hudson Holdings, LLC, which Performance Agreement is to be
secured by a Letter of Credit issued by Rhinebeck Bank in the principal sum of Four Hundred
Three Thousand Five Hundred Sixty-Seven Dollars and 20/100 ($403,567.20) in favor of the
Town of Wappinger as security to guarantee the obligations set forth in the Performance
Agreement; and
WHEREAS, the Letter of Credit has not been issued by Rhinebeck Bank, and will not be
issued until Mid-Hudson Holdings, LLC, acquires title to the property, which will occur as soon
as practicable after all the conditions of subdivision approval have been obtained by the original
applicant and subdivider, LMD Property Holdings, LLC; and
WHEREAS, the Attorney to the Town has approved the Performance Agreement and the
Letter of Credit as to form and the Town Board is willing to accept the above referenced
Performance Agreement secured by the Letter of Credit, provided the Letter of Credit, upon
receipt, will be further reviewed by Attorney to the Town and the Attorney approves the
document as to form and proper execution.
NOW, THEREFORE, BE IT RESOLVED, as follows:
1. The recitations above set forth are incorporated in this Resolution as if fully set
forth and adopted herein.
2. The Performance Agreement duly executed by Mid-Hudson Holdings, LLC, and
personally guaranteed by John Goetz, individually, a copy of which is affixed hereto, is hereby
accepted as a Performance Agreement for the completion of the construction, installation, and
dedication of the improvements required by the above referenced Resolution of Subdivision
Law, pursuant to Town Law Section 277.
3. The Letter of Credit, to be issued by Rhinebeck Bank in favor of the Town of
Wappinger in the principal sum of Four Hundred Three Thousand Five Hundred Sixty-Seven
Dollars and 20/100 ($403,567.20) will be posted as security for the obligations set forth in the
Performance Agreement and will be accepted as appropriate security for the obligations set forth
in the Performance Agreement, provided the same is reviewed and approved as to form and
execution by the Attorney to the Town, when delivered. The original Performance Agreement
executed on April 7th, 2008 together with the Letter of Credit, were issued, reviewed and
approved as to form, and are directed to be placed on file with the Office of the Town Clerk.
4. Town Board acknowledges that an Offer of Cession and Dedication has
previously been executed which offer of cession and dedication obligated Mid-Hudson Holdings,
LLC to dedicate to the Town a new road, to be constructed in accordance with the Town's
prevailing Highway Specifications, a Snow Easement within the subdivision for the deposit of
snow and ice during inclement weather, a Stormwater Drainage Easement to be dedicated to the
Town on behalf of The Ridges Drainage District, previously formed by the Town, together with
an Access Easement through proposed Lots 6, 7, and 8 to the aforementioned Stormwater
Drainage Easement.
5. The Town Board further grants a license to Mid-Hudson Holdings, LLC to
construct a portion of the road to the subdivision, said road being formerly known as Road "C"
as shown on the "Shamrock Hill Subdivision Plat" heretofore filed as Subdivision Map 11963, a
copy of the proposed License Agreement is attached hereto and made hereof.
6. The Town Board further directs the Supervisor of the Town to execute the
License Agreement by and on behalf of the Town of Wappinger. Town Board further
acknowledges that in consideration of granting the License to construct an extension of the road
to the Ridges Subdivision, Mid-Hudson Holdings, LLC has also provided a Certificate of
Liability insurance naming the Town as a certificate holder. Also, Mid-Hudson Holdings, LLC
agrees to hold the Town of Wappinger harmless and indemnify the Town for any claims arising
out of the acts or omissions of Mid-Hudson Holdings, LLC for entering upon said Road "C" and
carrying out the construction activities provided for in the License Agreement.
The original License Agreement, after executed by the Town Supervisor, and the original
Performance Agreement secured by Letter of Credit are to be placed on file with the Town
Clerk.
The foregoing was put to a vote which resulted as follows:
RESULT: ADOPTED [UNANIMOUS]
MOVER: William H. Beale, Councilman
SECONDER: William Ciccarelli, Councilman
AYES: Jiava, Beale, Ciccarelli, Fenton, Kuzmicz
Dated: Wappingers Falls, New York
3/28/2016
The Resolution is hereby duly declared Adopted.
JOSS P P. PAOLONI, TOWN CLERK