The Hydra in Our Midst

Crosswinds is coming to the end of its 15-year period of compliance for the tax credits used to finance the construction of the development. The rents will no longer be subject to the restrictions that made them affordable, and the complex can now be sold. 

Columbia County Housing Resources, which played a role in getting the complex built back in 2007 to 2010, has the right of first refusal if the development is sold. But Columbia County Housing Resources no longer exists. In 2014, Columbia County Housing Resources was taken over by the Galvan Foundation, in an action that started as a "collaboration" to bail out the fiscally struggling agency but ended up with the agency being renamed Galvan Housing Resources. 

Last year, the owners of Crosswinds balked when Galvan Housing Resources tried to exercise the right granted to Columbia County Housing Resources. Galvan sued, arguing that all rights transferred to them. In today's Times Union, Roger Hannigan Gilson explores the complicated legal situation that now exists: "Galvan sues partners over Hudson affordable complex price." One of the players in the drama is a group we in Hudson haven't heard much of lately: the Lantern Organization, the group founded by Eric Galloway in 1996 which owns buildings in New York City and once proposed creating permanent supportive housing at the corner of Warren and Fifth streets here in Hudson.

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