County Continues to Review Valhalla North 60 Lease Info
Westchester County Board of Legislators Chairman Michael Kaplowitz (D-Somers) said last week that lawmakers are extensively reviewing the lease for the proposed North 60 biomedical project and exercising due diligence for such a major project.
There is no date set for the Board of Legislators to vote on a lease agreement, Kaplowitz said. The board’s Infrastructure Committee is taking the lead in conducting a review while the Committee on Budget and Appropriations is also involved, he said.
An appraisal for the county’s portion of the land that would be leased must also be completed.
“This is information we don’t have right now,” Kaplowitz said. “It is a 99-year lease for a $1.2 billion project. We need to do our due diligence.”
Fareri Associates is seeking to construct the three million-square-foot Westchester BioScience and Technology Center on property located north of Hospital Road near Westchester Medical Center, the Maria Fareri Children’s Hospital and New York Medical College.
The developer controls 20 acres adjacent to and to the west of the North 60 property owned by Westchester County. The developer needs the lease from the county to build on the county’s 60-acre parcel.
Mount Pleasant Supervisor Carl Fulgenzi said last week he is concerned about the length of time it is taking county lawmakers to review the lease. The town is concerned that any delay could jeopardize the additional jobs and taxes that are projected to be generated for Mount Pleasant as a result of the state-of-the-art research hub.
Fulgenzi said there is interest from companies to move to the property, but they could look elsewhere if a lease isn’t finalized in the near future.
“We could lose potential tenants,” Fulgenzi said.
County Legislator Margaret Cunzio (C-Mount Pleasant), whose district includes the proposed site, supports the project.
“I believe that the North 60 project is an excellent one and it would benefit all of the residents of Westchester County,” she said. “As a former teacher of science and a current college professor, I know firsthand that there is a large market for jobs in these areas and there has been a push in schools to enhance their science related courses and majors. This will bring more jobs to the county, from the construction phase to the operational phase. “
Cunzio noted the lease would require a supermajority approval from 12 of the 17 county legislators.
