Tuxedo Local Development Corporation

The Corporation was formed in June 2008 with the primary mission of implementing the Tuxedo Hamlet Revitalization Fund (the “Fund”) in order to revitalize the downtown area
of the Town of Tuxedo (the “Hamlet”) by (1) strengthening and expanding retail, services, and other activities that would provide for the needs of town residents and attract new shoppers, including transient traffic and tourists; (2) providing new housing in varying formats; (3) renewing and enhancing the streetscape and building facades; (4)
improving pedestrian accessibility both to and within the Hamlet, particularly across Route 17; (5) improving vehicular access and increasing parking in the Hamlet area for
both shoppers and commuters; and (6) preserving the historic ambiance of the Hamlet area and encouraging the reuse of historic buildings.

The Corporation has a secondary mission of (1) encouraging economic development; (2) relieving and reducing unemployment; (3) promoting and providing for additional and
maximum employment; (4) bettering and maintaining job opportunities; (5) carrying on research and programs to aid the Tuxedo community by attracting new industries, or by
encouraging the development of, or retention of, an industry in the community; and (6) lessening the burdens of government and acting in the public interest, by engaging in
activities permissible under the New York Not-For-Profit Corporation Law.