While Gov. Hochul vowed to provide funding to adequately finance MTA projects, at press time no firm plans have been released.
According to the FBI’s 2023 Internet Crime Complaint Center Report, there were more than 101,068 complaints filed by individuals over 60 years old resulting in more than $3.4 billion in losses in 2023.
A well-known business leader, Weale was perhaps best known for co-founding Country Bank in Carmel and later serving as President and CEO of the Putnam County Economic Development Corp. for 13 years.
HAWTHORNE—The Mount Pleasant Industrial Development Agency has approved approximately $3.8 million in sales tax exemptions for the construction of a 153,062-square-foot e-commerce distribution center located at 211 Saw Mil River Road (Route 9A) in Hawthorne that will cost nearly $100 million to develop.
The project, which received approval at the IDA’s April 21 meeting, represents a total private investment of more than $99 million. According to the developer, USRE Hawthorne LLC, the project is expected to create 100 full-time and part-time jobs. The project will also generate additional tax revenue on a property that has been historically underutilized. The developer is not seeking a mortgage recording tax exemption or a PILOT for the project.
The one-story distribution center, which is located on 10.475 acres, will consist of 136,214 square feet of warehouse space, 16,848 square feet of office space, 181 passenger car parking spaces, 597 van parking spaces, 12 truck loading spaces and 62 van loading spaces at grade.
In addition to significant onsite improvements, the developer is in the permitting stages with the New York State Department of Transportation to construct a traffic signal on Route 9A at Belmont Road and a left turning lane from the south, which serves both the proposed project and the existing NYSCO Products building. The proposed roadway improvements will create needed traffic flow and traffic calming measures in the corridor for residents and businesses of the Town of Mount Pleasant.
“The IDA is pleased to provide incentives for this important project which represents a significant private investment in our town. In addition to creating much-needed new jobs, it will also generate tax revenue for the town and school district without adding any new students and will contribute toward road improvements to Route 9A. This is win-win for the town and school district,” said Town Supervisor Carl Fulgenzi who also serves as IDA Chairman.
Fulgenzi noted that the facility will be paying full property taxes estimated to be more than $1.5 million annually when completed.
While Gov. Hochul vowed to provide funding to adequately finance MTA projects, at press time no firm plans have been released.
A well-known business leader, Weale was perhaps best known for co-founding Country Bank in Carmel and later serving as President and CEO of the Putnam County Economic Development Corp. for 13 years.
Existing-home sales in the Northeast in June withdrew 2.1% from May to an annual rate of 470,000, a decline of 6% from June 2023.
One requirement of the law mandating the use of written contracts for compensation will impact NYS brokers significantly.
Receive original business news about real estate and the REALTORS® who serve the lower Hudson Valley, delivered straight to your inbox. No credit card required.
