White Plains CitizeNetReporter - City Agrees to Pay $2MM for Fortunoff’s Road Improvements


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City Agrees to Pay $2MM for Fortunoff’s Road Improvements Posted on Wednesday, December 12 @ 15:26:48 EST by jfbailey

WPCNR has learned that the Common Council has agreed in principle to the city paying for the road improvements associated with Fortunoff’s coming to the former Saks Fifth Avenue site.

The city will, according to a reliable source, accept the Fortunoff suggestion that the city pay approximately $2 million for the reconstruction of Maple and Bloomingdale Road designs to accommodate the project. Details of the road improvements were not disclosed, but should be forthcoming when the council takes up final approval of the project December 20.

Our source advised that Fortunoff’s will not receive any tax abatement (Payment In Lieu of Taxes) from the city. "It will be a fully taxed project," said our source.

Tax abatement on construction materials sales taxes for Fortunoff’s is pending from the Westchester County Industrial Development Agency, contingent on a December 20 approval by the Common Council.

Most read story about Government:
Update: The Fortunoffs Come to White Plains

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