RESOLUTION NO. 148
AUTHORIZING THE DISBURSEMENT OF AMERICAN RESCUE PLAN FUNDING TO AND AN AGREEMENT WITH THE ADVANCE ALBANY COUNTY ALLIANCE REGARDING PROPERTY AT 106 SOUTH PEARL STREET AND AMENDING THE 2024 ALBANY COUNTY BUDGET
Introduced: 3/11/24
By ARPA Executive Committee:
WHEREAS, The County of Albany received $29.6 million in funds from the American Rescue Plan Act (ARPA) which may be used for various projects and programs within the County to help mitigate the long-term effects of the COVID-19 Pandemic, and
WHEREAS, The Albany County Legislature created the ARPA Executive Committee and its various Subcommittees to determine how these funds should be distributed and to review applications for these monies, and
WHEREAS, The ARPA Executive Committee and its various Subcommittees have worked tirelessly over the last year in order to establish guidelines that will assist them in reviewing and evaluating the numerous applications they will receive, and
WHEREAS, The ARPA Executive Committee, having evaluated numerous proposals, has requested authorization to disburse ARPA funding in the amount of $450,000 to and enter into an agreement with the Advance Albany County Alliance for a term commencing March 11, 2024 and ending December 31, 2026, and
WHEREAS, The ARPA Executive Committee has indicated that such funding would be used to acquire property at 106 South Pearl Street in the City of Albany from AACC Holdings, LLC through a deed-in-lieu of foreclosure transaction, now, therefore, be it
RESOLVED, By the Albany County Legislature that the County Executive is authorized to disburse ARPA funding in the amount of $450,000 to and enter into an agreement with the Advance Albany County Alliance regarding the purchase of property at 106 South Pearl Street in the City of Albany from AACC Holdings, LLC through a deed-in-lieu of foreclosure transaction for a term commencing March 11, 2024 and ending De...
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