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"Saw your article on Monday's Board of Ed Meeting on the net...GOOD JOB! Thank you!"
-- White Plains High School Teacher
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JPI: "We're in the Money." Long Idle Jefferson to Resume by June.
Posted on Tuesday, April 08 @ 02:47:27 EDT by jfbailey
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WPCNR STREETS OF WHITE PLAINS. By John F. Bailey. April 8, 2003: Attorney Mark Weingarten told WPCNR Monday evening in private conversation in the City Hall rotunda that his client, JPI, of Dallas, Texas, had secured a lender to supply the additional $20 Million in new financing. The organization had been seeking the amount to resume construction of "The Jefferson" at the long dormant site on 300 Mamaroneck Avenue. Work has been stopped since May of 2002, while additional financing, now according to Weingarten, secured, was sought.
Weingarten said a term sheet had been signed with a lender, but would not reveal the name of the lender. The attorney told WPCNR his client had to apply to the Westchester County Industrial Development Agency as the next step in the process. Weingarten assured WPCNR the schedule would meet the Common Council deadline for having financing in place, June 1, and for construction to begin anew by the June 15 deadline set by the Council.
Weingarten said the Mayor's Executive Officer George Gretsas would be presenting the term sheet to the Common Council at the next Council work session.
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