An article that appeared in the Register-Star on the last day of 2011 celebrated the birth of a new not-for-profit--the Galvan Initiative Foundation: "Nonprofit's goal: city's improvement." In that article, Tom Swope, executive director of the foundation, defines the foundation's purpose in this way: "Our mission is to enhance the quality of life in Hudson through acquiring [an] architecturally significant group of houses, renovating them, returning them to the housing stock and renting them out at market rates. It will enable people who are gainfully employed to find decent places to live right in town."
Recently Gossips, at the suggestion of a reader, took a look at the Galvan Initiative Foundation's registration documents in the New York State Charities Bureau database. The foundation's registration statement defines its purpose in this way: "To preserve the unique heritage of the City of Hudson, New York, by acquiring, interpreting, conserving and maintaining buildings of architectural and historical significance." That sounds like a mission statement that could belong to a preservation organization like Historic Hudson. The certificate of incorporation, however, expands on this statement of purpose to say: "It is their [the antecedent of their is Donors' and Trustees', both of whom are Henry van Ameringen and T. Eric Galloway] further intent that said Foundation direct its efforts specifically toward the promotion of affordable housing and related services to low-income and otherwise disadvantaged persons living in the vicinity of the City of Hudson, New York State, by: (a) sponsoring, planning, acquiring, developing, restoring and operating fee and leasehold properties in the area of the aforesaid City of Hudson; and (b) conducting any and all lawful activities which may be useful and desirable in furtherance of the foregoing."
So what are Galvan's rentals to be--market rate, affordable, or low income? Developers recognize these as three distinct categories of housing based on rents charged. Market rate housing has the highest rents; low income the lowest--significantly below market rate.