Members of the Public Information Committee of the Board of Trustees, Nicholas Episcopia, chair, and Robert Rothschild, approved this report. Trustee Donald Brudie did not.

Contrary to several comments recently heard, the Board of Trustees has made no decision to accept the AvalonBay proposal as it appears in the Mayor's Committee July, 2008 Summary Report, or with the enhancements offered at the November 6 Board of Trustees meeting. The trustees are interested in receiving the input of all Village residents through the public opinion poll that will be conducted as a public service at the trustees' request.

On December 2, the Eastern and Estates Property Owners Associations will conduct a public opinion poll on St. Paul's. Participation in the poll will be open to all eligible, voting age residents of the Eastern, Estates, Central and Western sections of Garden City. The poll will ask voters to choose one of three options for the St. Paul's building: AvalonBay, demolition or mothballing.

In anticipation of the poll, a large number of residents have asked for more information as to why the Mayor's Committee on St. Paul's stated in their Summary Report that the only remaining options for the Main Building are:

(1) to privatize the restoration of the building by AvalonBay; or

(2) to demolish the building at an estimated cost of nearly $6,000,000; or,

(3) to mothball the building at an estimated cost of $13,900,000 plus annual upkeep of approximately $200,000; and why the Mayor's Committee stated that mothballing "to maintain an uninhabitable building with no planned future use is a waste of time and money."

The current Mayor's Committee, chaired by Trustee Thomas Lamberti, with committee members Trustee Gerard Lundquist, and residents James Carney, Robert T. Davis and Cosmo Veneziale, who are professionals in the fields of construction, real estate finance and architecture, presented their Summary Report to the full Board of Trustees in July.

The Committee based their conclusions on the 15-year history of the unsuccessful search for a viable public use for the unoccupied Main Building, coupled with background material prepared by the firms of Karen Backus Associates, Grubb & Ellis, Nelson Architects, Gardiner & Theobold, and Greenwich Group International, Inc., and specialists in cost estimation and construction project management.

Mothballing

"Mothballing" pertains to the Main Building only. Ellis Hall, which is unusable because it is filled with asbestos and mold, will be demolished. However, before it can be razed, the asbestos must be completely abated for environmental reasons.

The elements have taken a serious toll on the condition of the Main Building, which must be stabilized to make it safe, secure and protected from the elements, even if it is to be mothballed and left unoccupied. As stated in the Mayor's Committee Report:

"Mothballing or stabilization of St. Paul's assumes the minimum amount of work required to secure the Main Building's exterior from the elements, including near-term replacement of the roof, and improvements that are necessary for public safety. Interior work would be limited to the addition of emergency power to allow for safe access to the building for security checks, inspections, and fire department personnel. Demolition and necessary environmental abatement of Ellis Hall and contingencies are also included. The Main Building would remain in its current uninhabitable condition as it would not conform to the New York State Building Code. The estimated total for mothballing is $13,900,000, or $1,200,000.90 per year assuming bond financing over a 15-year term at 4%." (Report, page 6)

"Mothballing entails the enclosure of the entire building envelope, including shingled gable roofing replacement and associated sheathing and flashing replacements, replacement of existing flat roofs, cleaning and re-pointing of façade, removal of plant growth, repairing and replacing structural masonry as required, replacement of flashings, gutters and downspouts, replacement of broken windows to weather-tight condition, exterior sealants and door replacements, and scaffolding for the entire building." (Report, Attachment 6, page 19)

Estimated Cost of Mothballing Main Building:

Hard Costs:

Main Building:

Building Enclosure: $8,199,556.00 Abatement;

contingencies

Emergency power: $200,000.00 Subtotal Main Building:

Subtotal - Main Building: $8,399,556.00

Ellis Hall: $1,820,000.00 Demolition, abatement, contingencies

Subtotal: $10,219,556.00

Construction Costs:

Escalation: 8%: $817,564.00 To June, 2009

Subtotal: $11,037,120.00

Soft Costs: 25%: $2,759,820.00 Architectural and

engineering, permits,

Insurance, etc.

Soft Costs Escalation: 3%: $82,778.00

Total Soft Costs: $2,842,059.00

TOTAL: $13,879,179.00

(Report, Attachment 6, page 18)

Demolition

"Demolition assumes the complete demolition and removal of the Main Building and Ellis Hall, including necessary environmental abatement and contingencies. The estimated cost for demolition is $5,800,000 or $700,000 a year, assuming bond financing over a 10-year term at 4%." (Report, page 6, page 19)

"Demolition" is defined as "the complete removal of the referenced structure or space."

The estimated cost does not include landscaping or aesthetic site restoration. (Report, Attachment 6, page 19). After demolition a determination would have to be made as to what is the best public use for the land.

Cost Estimate for Demolition:

Hard Costs:

Main Building $3,548,490.00 Demolition,abatement, contingencies

Ellis Hall $1,820,000.00 Demolition, abatement, contingencies

Subtotal: $5,368,490.00

Construction Costs:

Escalation: 8%: $429,479.00 To June, 2009

Total Hard Costs: $5,797,969.00

Soft Costs:

$20,000.00 Mechanical Engineer; Permits

Soft Costs Escalation: 3%: 600.00

Total Soft Costs: $20,600.00

TOTAL: $5,818,569.00

(Report, Attachment 6, page 18)

Redevelopment of the Building by AvalonBay

Both AvalonBay and The Committee to Save St. Paul's developer submitted proposals for redevelopment of the Main Building with apartments. Based on in-depth analysis of experience in large-scale restoration projects and financial resources, the Mayor's Committee recommended to the full Board of Trustees that if the building is to be saved without undue burden to the taxpayers, no further consideration be given to The Committee to Save St. Paul's proposal, and that exploration of AvalonBay be made on a conditional basis.

The AvalonBay proposal, as outlined in the Mayor's Committee Summary Report, has been modified by certain enhancements to the Village that were presented in public to the Board of Trustees at their November 6 meeting. The enhancements include:

* Acceleration and increased payments in lieu of taxes (PILOTS) to the Village of more than $1,000,000 in the first five years as compared to the $79,556 initially scheduled, with continued annual increases to a total of $6,100,000 by year 20, as compared with a total of $3,500,000, after which the property will be fully assessed and taxed.

* Reducing the potential impact on schools by increasing the number of 1-bedroom apartments, reducing the number of 2 and 3-bedroom apartments, and setting aside 21 of the total 108 apartments for people aged 55 and older, with preference given to Garden City residents for the set-aside units.

* Providing $1,000,000 to the Village for improvements to Cluett Hall and/or the Field House.

* Offering the Chapel and first floor West Parlor to the Village for full-time, permanent public-use to be managed by the Village, provided that the Board of Trustees waives any applicable parking requirements.

* Working with the Village to construct up to 120 new parking spaces at the playing fields at locations designated by the Village, and without diminishing any ball field property, and at no cost to the Village.

* Negotiating additional controls in the ground lease, which is to be held by the Village, to provide the Village with additional protection in the event of a potential sale of the St. Paul's building.

On November 6, after AvalonBay presented its enhanced proposal, the Board of Trustees voted unanimously to request a new site plan from AvalonBay to include the additional parking spaces and to have Greenwich Group International, Inc. and Karen Backus Associates verify that the enhanced proposal is a reasonable business deal under current market conditions.