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Yonkers, NY - The Board of Yonkers Industrial Development
Agency (IDA) unanimously passed resolutions that will help pave
the way for three diverse businesses to open or expand in the
City of Yonkers.
The IDA approved measures to move forward with public
hearings and to negotiate incentive packages for Quincy
Amusements, Inc., to create a new 12-screen movie theater;
Westchester ALP Property, LLC, to open the Westchester Center
for Independent & Assisted Living; and Yonkers Honda, to enable
the car dealership to relocate within the City and expand its
services.
“Adding more affordable housing, providing retail options and
developing new entertainment venues are key components to
improving the quality of life for Yonkers residents,” said Mayor
Philip A. Amicone, chairman of the IDA. “These three
projects each bring something very different to the table but,
together, make Yonkers an even more desirable place to live and
work.”
Quincy Amusements, Inc. is scheduled to start construction in
September 2010 on a 12-screen movie theater located in the Ridge
Hill shopping center. The 64,644-square feet (sf), $10.9 million
development is expected to create 10 permanent jobs, 110
part-time jobs and approximately 75 construction jobs. The
company is seeking an economic package that would include a
sales and use tax exemption.
In March 2010, Westchester ALP Property, LLC purchased 78
Stratton Street South with plans to convert the two vacant
buildings located on the campus – totaling 105,491-sf – into the
Westchester Center for Independent & Assisted Living. The new
facility will offer low-income seniors approximately 141
affordable housing units with on-site amenities such as dining,
a beauty parlor/barber shop, rehabilitation centers, 24-hour
country kitchen, security and medical services. The $24 million
project is expected to create 75 jobs and approximately 20
construction jobs. The company is seeking an economic
package that includes a real property, mortgage tax, sales and
use tax exemptions, as well as a tax exempt Industrial Revenue
Bond.
Yonkers Honda has agreed to enter into a long-term lease and
to move its current parts and services operation to 500 Yonkers
Avenue as part of its plan to remain and expand in the City.
The $3.5 million project includes a 120,000-sf dealership that
will feature façade improvements, interior renovations and
furnishing to provide customers with a state of the art service
shop, three waiting areas and a work area complete with internet
access. The project will create approximately eight permanent
jobs and nine construction jobs. Thirty-three jobs will be
retained by Yonkers. The dealership is seeking an inducement
package that includes real property, mortgage tax and sales and
use tax exemptions.
Ellen Lynch, president and CEO of the Yonkers IDA said, “Over
the years, the economic packages developed by the IDA have
created thousands of jobs, generated much needed tax revenue for
the City and have made Yonkers an exciting center of economic
growth and opportunity. We are proud to move to the next phase
with all three of these projects and look forward to working
with the developers to put them in motion.”
Following public hearings, final development agreements for
each project must come back to the Yonkers IDA for approval.
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