YIDA takes action on incentives

The Yonkers Industrial Development Agency (YIDA) at its July 27 meeting had two senior citizen housing situations on the agenda.

The YIDA voted final approval of a mortgage recording tax exemption of $255,000 for a 147-unit apartment building located at 2 Father Finian Sullivan Drive in Yonkers.

Known as Monastery Manor Senior Apartments, the building owner Monastery Manor Associates also received YIDA approval for a seven-year extension of the existing payment in lieu of taxes (PILOT) agreement. Extension of the PILOT was requested so that the building could be refinanced and maintained as affordable senior housing.

Preliminary approval was given to a request from 155 Elliot LLC for financial incentives for a development at 155 Elliot Avenue that was the one-time home to Congregation Sons of Israel. The developer is putting up a 3-story residential building with 24 units.

The plans show 10 studio apartments, six one-bedroom units, four two-bedroom units and four three-bedroom units. The design of the new building preserves the facade of the former synagogue. The developer requested a recording tax exemption of $67,500 from the YIDA.