WPCNR SCHOOL DAYS. News & Commentary By John F. Bailey. October 28, 2006: On Friday evening’s cablecast of White Plains Week, Co-Anchors Jim Benerofe and John Bailey of WPCNR in discussing the city’s Memorandum of Understanding with New York Presbyterian Hospital – now under eleventh hour consideration by the Common Council – advanced an idea that made sense for both the city, the hospital and the School District – that neither the city nor the school district have entertained.

The program is recablecast Monday evening at 7 P.M on Public Access Channel 76 -- "The Spirit of 76."

The Dean of White Plains School of Journalism: Jim Benerofe, suggesting the School District acquire the St. Agnes Hospital site on White Plains Week. See the provocative proposal he suggests tonight at 7 on "76' Photo, WPCNR News.

The idea would preserve the 65 acres or more -- now a mere Common Council thumbs-up from being turned into a 125-home subdivision and minimum $120 Million to $160 Million or more windfall for New York Presbyterian Hospital.

School District to its and the City's Rescue?

In the discussion on the Friday evening television show, it was pointed out that in the city’s apparent rush to enhance the value of the New York Presbyterian Hospital land by multi-millions of dollars for 5.5 acres of parkland – the school district capacity for bonding for such a purchase for its own future expansion has been ignored.

Bailey pointed out that, by its own admission and the analysis of its distinguished Capital Projects Committee, the School District has no land on which to expand on for a future Middle School, new Mamaroneck Avenue School or new George Washington School – should they reach their apparent school district mandatory retirement age of 90 years service.

Now, though with the New York Presbyterian Hospital about to enter into an agreement with the Common Council for a Conservation Development of 65 acres of their property adjacent Bryant Avenue, in exchange for leasing the city 5.5 acres of parkland – it appears the hospital since they do not build houses – would have an incentive to shop the 65 acres for at least $160 Million – because any realtor will tell you the conservation development approval by July – could double the value of the hospital land. The developer simply has to buy the land and build --  no more approvals needed.

Bailey and Benerofe realized that New York Presbyterian Hospital land would be an ideal “land bank” for the City School District that could strike a deal with the City of White Plains  and the Hospital for the New York Presbyterian Hospital 65 acres. The School District and the city could use their combined bonding powers to save the New York Presbyterian Hospital for a legitimate dual purpose: a park, a campus for future expansion of White Plains Schools -- now all on the verge of being dangerously creaky and overcrowded.

The Benerofe Parlay

Later, over the traditional City Limits post-show lunch at Table 51 between the three News Amigos, Peter Katz, Bailey and Benerfore,   Benerofe suggested the School District should also consider acquiring the North Street Community-owned – former St. Agnes hospital site for possible use as a school site – rather than build Post Road School – or as a possible “hedge” site against possible future school expansion needs.  The North Street Community is now stalled out in its attempt to build a senior residential community there, and is now paying taxes on the property with no approval in sight.

Benerofe said the school has modern buildings there that could  be converted to  class rooms, labs and computer rooms and libraries for a potential elementary school or Middle School – or even as expansion for White Plains High School as that facility bulges at over 2,000 students today right at capacity.

Bailey noted that the School District in its recently successful (by 116 votes) $69.6 Million Capital Expansion claimed there was no land for available for the district to purchase and that any land-purcahse from other sites in the city (other than NYPH-piece)  alone would cost the district $21 Million.

Now, beginning Monday evening,  the School District, after passing the bond vote, is employing a consultant to do “strategic planning” for the district future, a “strategy” for acquiring room for expanding the district is here for consideration. It needs to be considered fast.

Bailey and Benerofe suggest an enrollment inflation hedge.

With the district expanding by 280 students by 2010, with no handle on how many more births will be coming on line each year until then (the district’s modus operandi of predicting future enrollment is by births per year ), and George Washington School, Mamaroneck Avenue School and the middle schools approaching the school district-determined “mandatory retirement age of 90 years” the district has to think what they are going to do about them. Should they continue to build schools adjacent to the old schools, or should they rethink matters and seek a campus like environment.

Once the New York Presbyterian Hospital goes to subdivision, it’s gone. The acquisition of the 65 acres by the city and the school district, combining their bonding powers would provide land for school expansion in the future and give the city a park, and the school district options for the next century. The taxpayers would be paying taxes for the future of their children and the aesthetic atmosphere of White Plains – instead of paying freight for developers with their taxes.

School District has Deep Pockets

According to Assistant Superintendent for Business, Fred Seiler, the school district has the capacity to borrow $248 Million even after the $66.9 Million school capital project is issued. And that will go up, since City Assessor Eyde McCarthy places the present value of taxable property in White Plains is $8.3 Billion, about $1 billion more than the school district presently calculates the figure.

Now, if the City School District and the City of White Plains really work together, Benerofe and Bailey suggested – this land could be saved – rather than turned into a massive profit tool for the Hospital and Toll Brothers, or some other developer of interest.

The School District Capital Project Committee estimated it would cost about $21 Million to acquire other land in the city to build the Post Road School as a reason for just building a new Post Road School adjacent to the present one. However, at the time, this Memorandum of Understanding (in the works for a year quietly by the Mayor’s office) with the Hospital was not known to the district.

Now if the School District and the city work together as they are fond of saying they do, perhaps the Mayor may get White Plains more than a 5.5 acre park at the price of a massive subdivision.

Millions of Dollars At Stake Here for Developers/Hospital

Millions of Futures at Stake for School District.

The New York Presbyterian Hospital is a delicious green filet mignon of a piece of land that will set any developer, super or not so super's mouth watering.

The White Plains Week conversation pointed this out.

The discussion continued at luncheon and the economics made sense for a developer: Buy the 60 acres of land along Bryant Avenue at say $2 Million an acre (or more), build 125 homes on it, for say $600,000 Plus  a home ($75,000,000- $100,000,000 ) and resell them for $3.5  Million apiece  and you have doubled your money. And that’s just rough money.

Throw in a golf course, health club and pool and you could probably get $4 Million a home for it, bringing your total gross to $500 Million, your expenses for acquiring the land: $160 Million, Building maybe $75 to $100 Million, and you can see the millions in profit just light up on the scoreboard, can’t you? The homes would "go."