YONKERS, N.Y. -- The Yonkers Industrial Development Agency approved Phase III of the Cottage Place Gardens plan on Jan. 29, according to Mayor Mike Spano.
“Yonkers continues to lead the way in demonstrating the power of public-private sector partnerships,” said Ken Jenkins, Yonkers Industrial Development Agency president. “Neither the Housing Authority nor the Community Builders Corporation could do this alone. But together, along with help from the YIDA and other governmental levels of support, they are creating first class housing for our city.”
Phase III calls for the creation of 70 new housing units at Cottage Place Gardens and Warburton Avenue.
The joint project between the Municipal Housing Authority of the City of Yonkers and The Community Builders continues the replacement of the outmoded Cottage Place Gardens housing project and a deteriorated townhouse at Warburton Avenue.
The YIDA will provide a sales tax exemption on materials used in construction, a mortgage tax exemption on the transfer of land and a temporary property tax abatement.