YONKERS, N.Y. -- Westchester's Industrial Development Agency unanimously approved the sale of Austin Avenue property in Yonkers to Morris Builders, LP on Thursday.
Westchester County will receive $19 million of the $32 million sale, while Yonkers will receive $10 million.
“This agreement is an example of how county assets can be unlocked to create benefits for our residents and businesses,” said Westchester County Executive Robert P. Astorino. “The $19 million in new revenue will help mitigate an anticipated budget shortfall, shore up funding for non-profits, and allow for the hire of three new police officers.”
The deal will now go before the Westchester County Board of Legislators for approval.
“I want to thank Mayor (Mike) Spano, Morris Builders, our IDA and all the parties for completing this sale,” Astorino said. “Complex deals like this are never easy, but because everyone was open to working together we were able to find common ground and reach an agreement that will help pay for government services and create jobs.”
Morris Builders also receives an option to purchase an adjacent 9 acres between Sprain Road and the New York State Thruway in the deal.
The City of Yonkers will receive up to 11 acres from Westchester County for the establishment of the New Hogan Park.