NEWS

Yonkers School 6 developer seeks $2 million tax break extension

Ernie Garcia
elgarcia@lohud.com

The developer of the former School 6 property in Yonkers seeks an extension to almost $2 million in tax breaks for an affordable housing complex.

The Community Builders, Inc. is asking the Yonkers Industrial Development Agency to extend the time period for $1,331,880 in sales tax breaks and $660,946 in mortgage recording tax breaks approved last year.

The YIDA's board is scheduled to consider the request at its monthly meeting on Wednesday.

The $52.4 million project consists of two residential buildings for seniors and families that is intended to replace some of the housing at the adjacent Cottage Place Gardens public housing run by the city's housing authority.

The seniors mid-rise building will have 50 units and the family tower will have 70 units; all of the senior units and 43 of the family units will be reserved for households earning less than 60 percent of the area's median income.

The remaining family units will be for very poor households earning less than 30 percent of the area median income.

An estimated 350 construction jobs are expected to be created by the project.

The developer described the existing 19th-century school building as too decayed to save and it will be razed.

Twitter: @Ernie_G_journo