The Real Deal New York

Macquesten faces pushback on its proposed tax incentive in Mount Vernon

March 01, 2018 01:24PM

At a third public hearing in Mount Vernon, residents voiced objections to what they see as exorbitant tax incentives given to developers by the Mount Vernon Industrial Development Agency, the Westchester County Business Journal reported. The topic of the hearing was MacQuesten Takeover Partners’ $71.1 million mixed-use development next to the old Mount Vernon West train station — a project for which the developer is asking $1.6 million in sales tax exemptions and a 30-year property tax abatement. Thomas Scapoli, an attorney who represents the Mount Vernon school district, argued that schools need the additional tax revenue for the additional students who will live in the new buildings. The development agency said it would “take their feedback into account” before making any decisions. [WBJ]