Monday, May 18, 2026
  • Contact Us
  • Advertise
  • Privacy Policy
  • Terms of Use
  • Members
  • Sign in
Westfair Communications
  • HOME
    • WESTCHESTER
    • FAIRFIELD
  • E-EDITIONS
    • Business Journal
    • 250 Years of Business & Commerce in America
    • Podcasts
  • MEMBERS
  • BUSINESS LISTS
  • INDUSTRIES
    • Economic Development
    • Real Estate
    • Hudson Valley
    • Courts
    • Banking & Finance
    • Construction
    • Economy
    • Education
    • Health Care
    • Food & Beverage
    • Government
    • Mergers & Acquisitions
    • Nonprofits
    • Retail
    • Technology
    • Home & Design
    • Health & Fitness
    • Travel
    • Lifestyle
  • SMALL BUSINESS
    • Small Business
    • Food & Restaurants
  • EVENTS
    • 2026 Doctors of Distinction
    • 2026 C-Suite Awards
    • 2026 Women Innovators
    • 2026 Millennial & Gen Z
    • 2026 Hispanic Innovators
    • Events Calendar
    • Past Events
      • 2026
        • 2026 40 Under Forty
        • 2026 Real Estate
        • 2026 Women in Power
      • 2025
        • 2025 Hispanic Innovators
        • 2025 Doctors of Distinction
        • 2025 C-Suite Awards
        • 2025 Women Innovators
        • 2025 40 Under Forty
        • 2025 Millennial & Gen Z
        • 2025 Real Estate
      • 2024
        • 2024 Doctors of Distinction
        • 2024 Women Innovators
        • 2024 40 Under 40
        • 2024 Real Estate
        • 2024 Women In Power
      • 2023
        • 2023 Women In Power
        • Milli + Genz
        • Women Innovators
        • Forty Under 40
        • Doctors of Distinction
        • Real Estate
      • 2022
        • 2022 Millennial + GenZ Awards
        • 2022 C-Suite Awards
        • 2022 Doctors of Distinction
        • 2022 THE FUTURE OF REAL ESTATE
        • 2022 FORTY UNDER 40
      • 2021
        • 2021 FORTY UNDER 40 VIRTUAL EVENT
        • 2021 TOP WEALTH ADVISORS Virtual Event
        • 2021 Milli + GenZ Awards
        • 2021 C-SUITE
        • 2021 DOCTORS OF DISTINCTION
  • GOOD THINGS
  • VIDEOS
    • Our Starting Lineup
    • News Videos
  • PARTNERS
  • ADVERTISE
  • SUBSCRIBEACT NOW
    • NEWSLETTERS
    • DIGITAL ACCESS
No Result
View All Result
  • HOME
    • WESTCHESTER
    • FAIRFIELD
  • E-EDITIONS
    • Business Journal
    • 250 Years of Business & Commerce in America
    • Podcasts
  • MEMBERS
  • BUSINESS LISTS
  • INDUSTRIES
    • Economic Development
    • Real Estate
    • Hudson Valley
    • Courts
    • Banking & Finance
    • Construction
    • Economy
    • Education
    • Health Care
    • Food & Beverage
    • Government
    • Mergers & Acquisitions
    • Nonprofits
    • Retail
    • Technology
    • Home & Design
    • Health & Fitness
    • Travel
    • Lifestyle
  • SMALL BUSINESS
    • Small Business
    • Food & Restaurants
  • EVENTS
    • 2026 Doctors of Distinction
    • 2026 C-Suite Awards
    • 2026 Women Innovators
    • 2026 Millennial & Gen Z
    • 2026 Hispanic Innovators
    • Events Calendar
    • Past Events
      • 2026
        • 2026 40 Under Forty
        • 2026 Real Estate
        • 2026 Women in Power
      • 2025
        • 2025 Hispanic Innovators
        • 2025 Doctors of Distinction
        • 2025 C-Suite Awards
        • 2025 Women Innovators
        • 2025 40 Under Forty
        • 2025 Millennial & Gen Z
        • 2025 Real Estate
      • 2024
        • 2024 Doctors of Distinction
        • 2024 Women Innovators
        • 2024 40 Under 40
        • 2024 Real Estate
        • 2024 Women In Power
      • 2023
        • 2023 Women In Power
        • Milli + Genz
        • Women Innovators
        • Forty Under 40
        • Doctors of Distinction
        • Real Estate
      • 2022
        • 2022 Millennial + GenZ Awards
        • 2022 C-Suite Awards
        • 2022 Doctors of Distinction
        • 2022 THE FUTURE OF REAL ESTATE
        • 2022 FORTY UNDER 40
      • 2021
        • 2021 FORTY UNDER 40 VIRTUAL EVENT
        • 2021 TOP WEALTH ADVISORS Virtual Event
        • 2021 Milli + GenZ Awards
        • 2021 C-SUITE
        • 2021 DOCTORS OF DISTINCTION
  • GOOD THINGS
  • VIDEOS
    • Our Starting Lineup
    • News Videos
  • PARTNERS
  • ADVERTISE
  • SUBSCRIBEACT NOW
    • NEWSLETTERS
    • DIGITAL ACCESS
No Result
View All Result
Westfair Communications
No Result
View All Result
Home Banking & Finance

Ineligible tenants jeopardize low-income tax credits, MacQuesten Development charges

Bill Heltzel by Bill Heltzel
February 5, 2018
4
Share on LinkedInShare on FacebookShare on Twitter

The Modern ”“ a low-income housing project in Mount Vernon that MacQuesten Development opened in September ”“ is accusing a nonprofit organization of not doing its part in finding eligible tenants.

The building owner, 130 Modern LLC, sued Community Housing Innovations Inc. for $2 million in Westchester Supreme Court on Jan. 29.

the modern MacQuesten Development
The Modern. Photo by Bill Heltzel

Community Housing Innovations leased units to tenants who had too much income, the lawsuit claims, “preventing needy individuals and families who did qualify from gaining access to this low-income housing project.”

“CHI categorically denies any wrongdoing,” its attorney, James K. Landau, responded.

The nonprofit organization, based in White Plains, was founded in 1991 and provides housing for homeless and low-income individuals and families.

It booked $22.4 million in revenue in 2016, according to an auditor”™s report, and had assets of $28.5 million.

MacQuesten Development of Pelham, the parent of 130 Modern, built the $31.5 million, 11-story structure at 130 Mount Vernon Ave. It has 81 apartments and ground-floor retail space.

MacQuesten said it paid CHI $100,000 to market the project and find tenants whose household income was no more than 60 percent of the area median income. Twenty-two apartments also were set aside for households with at least one person recovering from a psychiatric disability.

But CHI approved at least one tenant and leased at least one apartment to an applicant who was ineligible to live in The Modern, the complaint states. CHI employees then allegedly tried to conceal their mistakes from the developer and from a tax credit compliance consultant.

MacQuesten accuses CHI of breach of contract, negligence and acting in bad faith.

Tax credits allow developers to get a dollar-for-dollar reduction on federal taxes on a portion of the development costs. Developers typically allocate their credits to investors in exchange for development capital.

The project received $16.3 million in tax credits, according to a 2014 report by the federal Office of the Comptroller of the Currency.

MacQuesten claims that its tax credits have been reduced, costing it $100,000 in capital contributions. It said losses could increase if more tenants are found to be ineligible, and the error potentially puts it in violation of financing and regulatory agreements.

“There were issues with the lease-up,” Landau, the CHI attorney, said, “which we hope to resolve amicably with the developer.”

This page is available to subscribers. Click here to sign in or get access.

Previous Post

Hudson Gateway, L.I. Realtors agree to framework for MLS merger

Next Post

Al Alper: NY state cybersecurity deadline looms

Related Posts

Former Rep. Elliot Engel dies at age 79
Culture

Bill and Hillary Clinton among those remembering former Rep. Elliot Engel at Sunday evening memorial

May 17, 2026
Balance Point of Westport, Serent Capital make big investment in The Edge
Business

Balance Point of Westport, Serent Capital make big investment in The Edge

May 17, 2026
Guilty pleas in $3.4M Orange County fraud case
Crime

Guilty pleas in $3.4M Orange County fraud case

May 17, 2026
Next Post
al alper cybersecurity

Al Alper: NY state cybersecurity deadline looms

Comments 4

  1. k says:
    8 years ago

    The Mount Vernon City Council past and present had denied publicly that the rumors of The Modern being affordable housing for the mentally disabled were false..thanks to this lawsuit and Westfair for confirming otherwise.

    • szq says:
      8 years ago

      DO YOU HAVE SOMETHING AGAINST THE MENTALLY DISABLED?

  2. BB says:
    8 years ago

    Talk about passing the buck! Classic game of hot potato on this one! If the city/investors were smart they would look into the pockets of the developers as well on this gem – all around misappropriation of tax credit dollars on this monstrosity (of a building) for the city…

    The fish stinks from the head!

  3. R.H says:
    6 years ago

    Chi is corrupt I’m housed by them and I’m in rent stabilized apartment They call it a shelter but I Have to pay $400 to make up their $3,000 they claim my housing is worth and still find permanent housing I could’ve used housing like this they don’t find housing and I’ve come to learn my building is a etpa building I want to file for negligence and breach of contract these places are inhabitable for children and mothers with mental health issues , and they’re over charging the govt dss and the nonprofits I would definitely looks into chi as they’re a non profit and they are doing things

Subscribe to our newsletter

Lifestyle

  • Exclusives
  • Good Things Happening
  • Food & Restaurants
  • Travel
  • Health & Fitness
  • Home & Design

World News

CNN WIRE — Ukraine attack on Moscow is largest in over a year
World News

CNN WIRE — Ukraine attack on Moscow is largest in over a year

by CNN Wire
May 17, 2026
0

(COVER PHOTO: Residence on fire after Ukrainian attack on Russia. Moscow regional Governor Andrei Vorobyov/Reuters via CNN Newsource) By Kosta...

U.S. and world news for May 15

U.S. and world news for May 15

May 15, 2026
CNN Wire: As Trump fuels Vance vs. Rubio speculation, his vice president makes anti-fraud push

CNN Wire: As Trump fuels Vance vs. Rubio speculation, his vice president makes anti-fraud push

May 14, 2026
U.S. and world news for May 14

U.S. and world news for May 14

May 14, 2026
CNN Wire: Trump administration pauses new hospice, home health providers’ enrollment in Medicare

CNN Wire: Trump administration pauses new hospice, home health providers’ enrollment in Medicare

May 13, 2026
U.S. and world news for May 13

U.S. and world news for May 13

May 13, 2026
No Result
View All Result

Latest News

Former Rep. Elliot Engel dies at age 79
Culture

Bill and Hillary Clinton among those remembering former Rep. Elliot Engel at Sunday evening memorial

by Peter Katz
May 17, 2026
0

Former President Bill Clinton and former First Lady, Secretary of State and U.S. Senator Hillary Clinton were...

Balance Point of Westport, Serent Capital make big investment in The Edge

Balance Point of Westport, Serent Capital make big investment in The Edge

May 17, 2026
Guilty pleas in $3.4M Orange County fraud case

Guilty pleas in $3.4M Orange County fraud case

May 17, 2026
CNN WIRE — Ukraine attack on Moscow is largest in over a year

CNN WIRE — Ukraine attack on Moscow is largest in over a year

May 17, 2026
U.S. and world news for May 15

U.S. and world news for May 15

May 15, 2026
Logo Westfair Business Journal

Latest News

Bill and Hillary Clinton among those remembering former Rep. Elliot Engel at Sunday evening memorial

Balance Point of Westport, Serent Capital make big investment in The Edge

Guilty pleas in $3.4M Orange County fraud case

  • About Us
  • Contact Us
  • Advertise
  • Privacy Policy
  • Terms of Use
  • Sign in

Trending Westchester

Subscribe to our newsletter

© 2024 Westfair Business Publications. All rights reserved. Westfair Communications (Westfair), a privately held publishing firm based in Mount Kisco, N.Y., publishes the Westchester County Business Journal in New York state and the Fairfield County Business Journal in Connecticut.

No Result
View All Result
  • HOME
    • WESTCHESTER
    • FAIRFIELD
  • E-EDITIONS
    • Business Journal
    • 250 Years of Business & Commerce in America
    • Podcasts
  • MEMBERS
  • BUSINESS LISTS
  • INDUSTRIES
    • Economic Development
    • Real Estate
    • Hudson Valley
    • Courts
    • Banking & Finance
    • Construction
    • Economy
    • Education
    • Health Care
    • Food & Beverage
    • Government
    • Mergers & Acquisitions
    • Nonprofits
    • Retail
    • Technology
    • Home & Design
    • Health & Fitness
    • Travel
    • Lifestyle
  • SMALL BUSINESS
    • Small Business
    • Food & Restaurants
  • EVENTS
    • 2026 Doctors of Distinction
    • 2026 C-Suite Awards
    • 2026 Women Innovators
    • 2026 Millennial & Gen Z
    • 2026 Hispanic Innovators
    • Events Calendar
    • Past Events
      • 2026
      • 2025
      • 2024
      • 2023
      • 2022
      • 2021
  • GOOD THINGS
  • VIDEOS
    • Our Starting Lineup
    • News Videos
  • PARTNERS
  • ADVERTISE
  • SUBSCRIBE
    • NEWSLETTERS
    • DIGITAL ACCESS

© 2024 Westfair Business Publications. All rights reserved. Westfair Communications (Westfair), a privately held publishing firm based in Mount Kisco, N.Y., publishes the Westchester County Business Journal in New York state and the Fairfield County Business Journal in Connecticut.