VENEZIANO & ASSOCIATES

John Delano, Chairman North Castle Planning Board IS Bedford Road Armonk, New York 10504

COUNSELLORS-AT-LAW

84 BUSINESS PARK DRIVE

SUITE 200

ARMONK, NEW YORK 10504

TEL, (914) 273-1300

FAX, (914) 273-1303

October 21,2016

Re: 113 King Street Provision of Additional Parking Revised Phasing Plan

Honorable Chairman and Members of the Planning Board:

This firm represents Airport Campus I, LLC; Airport Campus II, LLC; Airport Campus III, LLC; Airport Campus N, LLC; and Airport Campus V, LLC (hereinafter "Airport Campus") the owners ofthe property located at 113 King Street.!

As you know, by letter dated September 6, 2016, we applied for an amended Preliminary Development Concept Plan (PDCP) in order to provide additional parking on the site to meet current market demands. That submission provided for additional parking in the form of at­grade parking and, if necessary, a parking structure containing two levels.

Our application was forwarded to your Board and we met with you at your meeting on September 26, 2016. At that meeting, we discussed, among other things, our client's goal of being able to provide the additional parking while still preserving the approvals granted to MBIA with respect to an additional office building, a parking structure, and a meeting house. Based on our discussions with your professional staff, we proposed to accomplish this by preserving the existing approvals as the final stage in our plan.

The site plan approval granted by your Board to MBIA in 2004 provided for development of the project in 3 phases, as follows:

I The project team also includes William Harrington, Esq. of Bleakley, Platt & Schmidt LLP as co-counsel and Anthony Guccione of JMC as project engineer.

VENEZIANO & ASSOCIATES

John Delano, Chairman North Castle Planning Board

October 21, 2016 Page 2

1. The first phase would consist of removal of underground residential fuel oil tanks, removal of dead trees and pruning of healthy trees, the reconstruction of existing stone walls and the demolition of the existing Cooney Hill homes, construction of a graded earth berm up to 6 feet in height along King Street to shield the Cooney Hill area, the construction of walking paths and a fitness center to provide recreational opportunities for MBIA employees, and the construction of new stone walls around the perimeter of the property;

2. The second phase would include the construction of the meeting house and the stormwater detention area located to the south of the meeting house; and,

3. The third phase would consist of the construction of the corporate headquarters expansion together with the new parking structure. The first phase described above was completed years ago but no action has been taken on the second or third phases.

Following our meeting with you on September 26, 2016, our team has explored various alternatives to provide the additional parking needed on the site. As a result of those discussions, we have determined that the simplest and most expeditious option is to forego our concept contained in our September 6, 2016 submission and, instead, move forward with the approved MBIA parking structure, albeit in a modified phasing arrangement.

Specifically, we are requesting a simple text modification to the prior site plan approval to provide that the previously approved parking structure can be constructed as Phase I, with the office building comprising Phase II, and the meeting house Phase III. Please note that we are not seeking any change to the approved plans, simply a re-arrangement of the order in which the components would be constructed. In addition, we are also seeking your permission to construct the parking structure, in its approved form, but with the ability to build only as many levels as necessary initially, with the right to add the additional approved levels as demand requires. Again, the net result would be the originally approved parking structure being constructed first, with the office building and meeting house to follow in subsequent phases.

Inasmuch as there is no proposed change to the approved site plan itself, we respectfully submit that no amendment to the PDCP is required. The plan remains exactly as contemplated by the existing PDCP and your site plan approval, with the only change being in the phasing of the construction.

VENEZIANO & ASSOCIATES

John Delano, Chainnan North Castle Planning Board

October 21,2016 Page 3

Please place this matter on your agenda for November 7, 2016 and advise if any additional infonnation is required. Thank you for your courtesy and cooperation.

MPMikj

cc: Airport Campus William Harrington, Esq. Anthony Guccione

Very truly yours,

By~' ________________ ___ Mark P. Miller

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John Meyer Consulting shall render them invalid and unusable.

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