Though the legislators and the county executive are haggling over its legality, Westchester’s Local Development Corporation approved tax-free bonds for FIELDHOME in Cortlandt Manor to refinance $13.6 million in debt.
FIELDHOME, a rehabilitation and nursing center for seniors, is the latest recipient after Northern Westchester Hospital was granted $36 million in tax-exempt bonds to build new operating rooms.
County Executive Rob Astorino announced the creation of the LDC despite legislators voting against it, claiming in a legal opinion by his bond counsel that he did not need their approval.
Legislators said that Astorino’s LDC gave him too much power, and have countered that IRS guidelines call for legislator approval.
