Westchester IDA Approves Property Sale In Yonkers
Westchester County is set to receive $19 million from the sale of property in Yonkers.
Westchester County Executive Rob Astorino says the county’s Industrial Development Agency Thursday approved the $32 million sale of property on Austin Avenue in Yonkers to Morris Builders. The county will receive $19 million with Yonkers receiving the remaining third of the purchase price. Astorino says the $19 million in new revenue will help mitigate an anticipated budget shortfall, shore up funding for non-profits, and allow for the hire of three new police officers. Astorino says the county is facing a potential $17 million budget deficit after the first quarter of 2016, due mostly to sales taxes not meeting projections. The deal still needs approval from the County Board of Legislators.