Weather Alert
Winter weather advisory in effect for Orange, Putnam, Rockland and Westchester counties from 10 p.m. to 2 a.m. Monday
Ali RosenNov 22, 2017, 3:08 pmNov 22, 2017, 3:09 pm

Mount Vernon taxpayers oppose proposed affordable housing project

Project to include a list of exemptions from developer

Share

MOUNT VERNON -- Mount Vernon tax payers do not want the city's Industrial Development Agency to approve tax breaks for the proposed $53.4 million affordable housing project, known as The Point, to go up on south Fourth and Fifth avenues.

The developer, MVP Realty Associates, is requesting the IDA approve an agreement that consists of:
-- $3.6 million in sales tax exemptions on building materials
-- A $625, 568 mortgage-recording tax break
-- And a 30-year payment-in-lieu-of-taxes agreement.

With 210 units, the project is anticipated to house young children. But if the IDA approves financial assistance, school taxes will be added to the list of exemptions for the developer.

During this public hearing on Wednesday, the attorney for the board of education spoke once again against financial assistance for this project.

Members of the city's industrial development meeting say they will take the public’s comments into consideration and vote on the matter in the coming weeks.

What's On Now & Next

Traffic

I-95 S|New England Trwy S|Bruckner Expy S|Hutchinson River Pkwy N

I-95 I-287 TO CROSS BRONX
South|South|South|North
North|North
18 min (Avg 53 MPH)
14 min (Avg 58 MPH)

Hutchinson River Pkwy S|I-678 S

HUTCHINSON RIVER PKWY CROSS BRONX TO I-287
South|South
North
18 min (Avg 50 MPH)
23 min (Avg 39 MPH)

Cross Westchester Expy W|I-287 W

I-287 I-87 TO EXIT 12
West|West
East|East
12 min (Avg 60 MPH)
13 min (Avg 59 MPH)

I-684 N

I-684 I-287 TO I-84
North
South|West
22 min (Avg 71 MPH)
25 min (Avg 69 MPH)

I-287 E

I-87 EXIT 14B TO TAPPAN ZEE BRIDGE
East
East|East|West|West
30 min (Avg 27 MPH)
28 min (Avg 55 MPH)
More Traffic »

Weather

Nyack, New York
Clear
30°F