Additional Funding Available for North 60 Project Studies
The Westchester County Board of Acquisition and Contracts agreed on Aug. 4 to provide additional funding for the study of North 60, a $1.2 billion biomedical project being proposed in Valhalla.
Last week’s action amends an existing contract with Fareri Associates LP to reimburse the county for studies being conducted on the proposed project at the Grasslands campus. The plan is to develop 60 acres of county-owned property and an adjacent 20-acre tract owned by the developer next to Westchester Medical Center.
The amended agreement calls for up to an additional $45,000 to retain The Weitzman Group, Inc. for a financial analysis of the deal and an additional $10,000 to hire Hudson Valley Property Advisors LLC for an updated appraisal of the property’s value.
It brings total compensation for the consultants to no more than $75,000. Fareri Associates has agreed to reimburse the county for the entire cost of the studies.
Board of Legislators Chairman Michael Kaplowitz (D-Somers), County Executive Rob Astorino and Budget Director Larry Soule, who comprise the Board of Acquisition and Contracts, had previously approved a contract of up to $20,000 for a review of the lease by the law firm Zarin & Steinmetz.
“I have welcomed for the past three years as chairman of the Board of Legislators a development partner for this valuable county asset,” Kaplowitz said last week. “Now that the county executive and Fareri Associates have submitted their proposal, the Board of Legislators has begun our intensive and appropriate review in contemplation of a timely approval.”
“These studies by outside experts will provide us with data and analyses which are critical to our decision making,” Kaplowitz added.
Legislator Margaret Cunzio (C-Mount Pleasant) said county officials are being conscientious on such a major project. That’s also important because support from a supermajority will be needed to approve the lease, Cunzio said.
“I am very happy to see we are moving forward with this project,” Cunzio said. “The Board of Legislators is doing its due diligence to ensure this project has the support from the legislators, as it needs 12 legislators to vote on approving this lease. The process is in place to ensure that this deal will benefit the county, its residents and the Town of Mount Pleasant.”
Despite the movement, Mount Pleasant Supervisor Carl Fulgenzi reiterated earlier comments by saying the county’s study of North 60 has taken too long. He is concerned that potential tenants interested in the site may go elsewhere if progress isn’t made.
“We have been talking about this project for over three years,” Fulgenzi said. “Originally, it was too large for my liking, I did not want it to affect our downtowns by developing competitive businesses that would take away from our already challenged businesses. I want the board to do what they think is best for Westchester and Mount Pleasant to move quickly in the study so that the potential resources for high quality tenants does not go elsewhere. Other states and municipalities would love to take these potential tenants.”
