In light of the Journal News article divulging the non-paying, and now delayed 2011 completion date for the Forest City Ratner Ridge Hill development, one must wonder how Yonkers will survive the fiscal hemorrhaging it is undergoing, especially because there is no prospect for additional funding to relieve the exhausted, taxpaying homeowner for the next three to five years forward. The prospect for "one-shot" scenarios has become tiresome to many in the New York State Legislature and the economy is unlikely to rebound as resiliently as everyone would like.
As Mr Lesnick conducts his behind the scenes deals, Louis Cappelli, recuperating from his recent brain aneurism, as he predicted from his hospital bed weeks ago, has been granted the same incentives for developing what was once billed a billion dollar plus Catskills project for the same project, now reduced to a $600 project. Without advising Gov. Paterson, but within days of the new agreement favorable to Mr Cappelli, we learn that the Seneca Indians have been in negotiations to buy the property from Mr Cappelli. How sweet it is, especially with other people's money. .
At issue for Yonkers is whether Yonkers can survive the five-year hiatus between approval of the SFC Yonkers project and the actual development of it. The reason it is important to have a developer financially secure today to develop the planned sites is for the rate of income it must generate for the city to survive. While times are tough all around, there are many businesses and investment firms ready, willing, and ABLE to develop now. They are liquid for the right project. It doesn't get to be more right than Yonkers: location, downtown, Central Avenue, location, transportation facilities, location, and most of all, people.
Yonkers must send out an RFP (request for development) on an international search for a developer. Within a week Arab, Chinese, Japanese, Indian, Australian, European, Canadian, South American, Russian, and African interests will be knocking down the doors of the Yonkers Industrial Development Agency. Let's hope they are up to the task.
While this is going on, the underground newswire, almost exclusively accessible to Yonkers Tribune's acid-tongued bloggers can now divulge, though it has been rumored for months, that the Department of Motor Vehicles building will no longer function as the DMV. Instead, the DMV will be moved to the nValley Technology Center; the ultimate payoff for Mr. Joe Cotter's paltry investment in a $42 million albatross concocted by City Hall's development czar Ed Sheeran and enabled since inception by City Hall "friend" and lackey Richard Halevy.
As City Hall conspires on the political plane, blundering as assuredly as in economic development projects, and on many legal fronts, acid-tongued bloggers advise that former Riverdale resident John Fleming has taken up digs in the 3rd Council District. Seems Mr Fleming is looking to take on incumbent City Councilwoman Joan Gronowski. Does anyone belive Councilwoman Gronowski should be shaking in her boots?
