The Peekskill Common Council held a work session on Monday, March 2, 2026, at 6:45 PM in the Common Council Chamber. The meeting featured presentations on the proposed Tredway PILOT for 901 Main Street (PeekSkill Plaza), taxi administration, Depew Park phase two improvements and summer programs, affordable housing data, and the selection of a comprehensive plan consultant. Additional agenda items included a Fourth of July parade street closure, dam evaluations RFP, leaf blower regulations, the Mayor Monarch Pledge, and a Con Edison property remediation access agreement. The council also heard liaison reports and moved into executive session.
March 2nd, 2026. So at this time, um, we have a presentation and then a couple of items on the agenda. Oh no. A lot of items. We have four presentations. And some agenda items, and then executive session for discussion of matters concerning the medical, financial credit, or employment history of a particular person, persons, or corporation, or matters leading to the appointment, employment, promotion, demotion, discipline, suspension, dismissal, or removal of a particular person, persons, or corporation. And for discussion of matters concerning pending litigation involving tax matters. So at this time I will turn it over to our city manager, Ms. Alexander. Good evening, Mayor and Council. Good evening, so we are only have three more presentations. And so uh the first of these three presentations is going to be Treadway, uh, a an organization that is um interested in purchasing 901 Main Street. And uh on their behalf, we have Adam Sussey, David Ratner, and Mallory Warner here to speak to the council about a proposed pilot along with um a discussion of their plans for the property. Yes, please, thank you. No step stool, but I'll manage. Let me just share this. Okay, yeah. Oh, I have to, but you're sure. Okay. And Adam, just make sure you stand close on Mike while you're speaking. Um so, first of all, thank you all for having us. Um we're we're very excited about the potential becoming part of this community. Um we've been working extensively with the PIDA, Matt, Eric, um, for some months now, and so we're happy to be in front of you and uh giving you the latest update on on our plans for um Peak Scale Plaza. Um by way of introduction, I'm Adam Sussey. I'm a managing partner at Treadway. Uh we are an affordable housing developer and owner, both the nationally but with a very large presence in the New York City area. Um, and we really uh specialize in uh what we call preservation rehab of existing affordable properties. Um we have performed a number of these types of uh rehabs in the past, including or I should say uh with uh uh a large swath of them being senior communities, um, and we really focus on not just um fixing the bricks, so to speak, but really making meaningful improvements to the overall community by bringing in um services, appropriate amount of staffing, um, really changing the dynamic. Um obviously there have been uh a history of issues at the Peak Scale Plaza site that we've uh only learned more about through this process. Um we met with a number of the residents actually uh earlier tonight as well, and um we you know we have a uh a look very um dynamic um back and forth and understand the the things that need to change. Um we're gonna talk extensively about both the physical improvements, the operational improvements, um, and I'll turn it over to Mallory to um to speak specifically to him to that point. Thank you, Adam. Um so as Adam just went over uh a little bit about who Treadway is. Um today we're gonna cover Peak Skill Plaza overview, our improvement plan, the community benefits, the financial framework, and our request. So Peakscale Plaza, as most of you know, is an 168 unit senior building right here on Main Street that are serving some of the most vulnerable residents in the city. The building was constructed in the 1980s and it was last rehabbed in 2005. And after 20 years, the deferred maintenance is reaching a critical path. The facade, the parapet, the roof all need major work. And their scaffolding that's been up for far too long. And every unit in the building serves households at or below 60% of AMI. This housing and the rent that the tenants pay will not increase as a result of our purchase of the property. And we will work with the city and the residents to ensure that they are able to take advantage of the full rental subsidy. And I also want to flag the safety situation over the past year. You guys could probably better attest to it, but we hear that there have been over 650 police calls at the property. That's unacceptable for a senior community, and it's something we plan to address immediately. So here's what we're bringing to the table. A $3.8 million one upfront impact fee paid directly to the city at closing, $4.5 million of capital improvements, annual pilot payments, coordination with the city's workforce development academy, and enhanced social services and security. The existing pilot expires in April 2045. As part of our discussions with the IDA, we are requesting its assignment and amendment with a 40-year term from the date of extension. So that is extended affordability for the next 40 years as well as tenants' rents not increasing.