“I am happy to announce that our bid for the acquisition of The College of Saint Rose was accepted and the Pine Hills Land Authority will own the campus. After our initial stalking horse bid was rejected, we submitted a qualified bid of $35 million, the only bulk bid. There were fourteen others that made offers on individual parcels. This offer - which is far below the $80 million that we were authorized to spend and in line with multiple valuations - strikes an important balance between our fiduciary responsibility to the taxpayers of Albany County, while making a strategic expenditure in the heart of the City of Albany.

This is an exciting moment, and we are looking forward to the final approval by the bankruptcy court.  This is more than an investment in land, it is an investment in the future of our community. By securing this property, we are preserving the assessed value and integrity of the surrounding neighborhoods and serving the best interests of Albany County. I would like to thank the Pine Hills Land Authority Board and my staff for their work on this. I also want to recognize the Albany County Legislature as well as the State Senate and Majority Leader, the State Assembly and Speaker, and the Governor for authorizing the legislation that I championed, which made this possible.”

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