Over five years ago the Village acquired the 48 acres and buildings that comprise the former school and grounds of St. Paul's in the very heart of our Village. With that action our Village took control over one of the largest undeveloped land tracts in our county and acquired significant open green space and facilities that were needed for current and future social, cultural and recreational activities for all residents. While the open space, Field House and Cluett Hall were put to immediate Village use and it was determiend that the cost of renovation for use as a Village Hall was prohibitive, a Mayor's Committee was appointed to explore uses for the Main Building that would be compatible with the residential nature of our community. After an extensive study the Committee recommended utilizing the Main Building as a senior assisted-living residence operated by an experienced private organization in that field.

Upon approval by the board, Requests for Proposals were sent to 31 organizations interested in providing and operating such a residence; six proposals were received and, after extensive due diligence, two proposals were transmitted to the board of trustees. The substance of these proposals was presented to the public through news releases and articles, presentations to each of the property owners' associations, open meetings, as well as a Public Information Meeting at the high school with over 500 attendees. In April 1997 a Village Facts was sent to all residents which provided basic facts as well as schematic designs for both proposals.

After further due diligence, CareMatrix was selected as the organization with which negotiations would be furthered and a Negotiating Committee was appointed. That committee worked diligently and on March 5 a Letter of Agreement was proposed by CareMatrix which was first discussed by the trustees at the executive session following the board meeting, with two members of the Negotiating Committee who guided the board through the proposed terms of the agreement. After a full review of the document and making modifications in the best interest of our Village, the board came out of executive session and authorized me, as mayor, to sign the agreement as so modified, if CareMatrix would agree. We had no agreement at that time, but we were hopeful of achieving one. When CareMatrix agreed to the modifications and transmitted the agreement back to us, it was reviewed by counsel and approved for my signature. Although I signed the document on March 16, I would not release it until all exhibits were received and conformed to that which had previously been provided. This was not accomplished until after the March 19 Village Board meeting. At that time, the press release was prepared.

I have nothing but respect, confidence and pride in the process that was followed and the people who played a part in that process. We will continue on the course we have embarked on and see this agreement through to fruition.

(Ed, Note: The following is the release to which the mayor referred in his column.)

Mayor Frank Tauches announced that pursuant to the authorization of the Village Board of Trustees, he has signed a Letter of Agreement with the CareMatrix organization to negotiate and enter into a lease for a portion of the St. Paul's property including the Historic Main Building and approximately 8 to 10 acres on the southeast corner of Stewart and Rockaway Avenues.

The Mayor enthusiastically noted that the proposed lease with CareMatrix will bring a desired social dimension to our community by providing approximately 172 independent and assisted living units for seniors. The Letter of Agreement contemplates that a substantial portion of the Historic Main Building will be repaired and renovated and an additional structure will be built to the north.

The Letter of Agreement contemplates that the Village will enter into a lease commencing Dec. 1, 1998 assuming certain preconditions are met and approvals are secured. The term of the lease will be for a period of 49 years with three five-year renewals at the lessee's option.

On the commencement date, CareMatrix will pay the Village $2,271,000.

The Village will receive additional payments on certain anniversary dates. Commencing with the 10th anniversary, the Village will receive $150,000; the 20th - $300,000; the 30th - $450,000; the 40th - $600,000. An additional $375,000 will be paid in each of the three five-year renewal periods.

The lease will establish annual payments in lieu of taxes to the Village. In addition, CareMatrix will pay real estate taxes levied by the County, Town and Garden City School District.

Mayor Tauches commended the Negotiating Committee, consisting of Messrs. Peter C. Haeffner, Jr., Robert T. Loos and Counsel Gerard Fishberg, for their diligence and perseverance in reaching this milestone.