A developer proposing to build a $16.5 million apartment complex seeks $899,000 in tax breaks.
The Westchester County Industrial Development Agency met Thursday morning to consider a request from SME Development/AVR Realty Co. for $899,000 in sales-tax and mortgage-recording tax exemptions for an 81-unit complex at 290 E. Main Street near the Greenburgh Public Library.
The 4.5-acre property used to have a Howard Johnson restaurant and it has been vacant since 2007, according to Steven Eickelbeck of AVR.
Eickelbeck said the development of the site would create 120 construction jobs and raise the lot’s annual property taxes from about $150,000 to about $425,000.
SME/AVR is not seeking property tax breaks for the proposal, which has received a site plan approval from Elmsford.
IDA board chairman Stephen Hunt asked Eickelbeck about affordable units and the developer said the village of Elmsford has asked that no affordable housing be included in the complex.
UPDATE: Elmsford Mayor Robert Williams said SME/AVR never raised the issue of an affordable housing component to its project during the approval process.
The IDA approved an inducement resolution but final approval will depend on inclusion of some affordable housing and the separation of a piece of the former restaurant footprint that will be reused for retail.
The IDA board also approved a resolution to begin negotiating a tax-exempt bond and tax breaks for Wilder Balter Partners for the renovation of Mamaroneck Towers, a senior affordable housing complex at 233 Halstead Ave. in Mamaroneck.
That $15.8 million investment envisions the renovation of all 75 units in the building and keeping the complex affordable for decades to come. Currently residents there pay 30% of their monthly income on rent.
Wilder Balter seeks $90,000 in sales-tax and $177,580 in mortgage-recording tax exemptions.
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