Complex sentence: The founder of W. R. Grace and Company and former New York City mayor, W.R. Grace, lived in Kings Point, at which time he accepted the Statue of Liberty from the people of France.
Split into simpler sentences: The founder of W. R. Grace and Company, and former New York City mayor, W.R. Grace, lived in Kings Point. It was during this time he accepted the Statue of Liberty from the people of France.