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Foreclosure filed on City Center garage in White Plains

Last year, LC White Plains defaulted on the garage bonds. It owed $1.67 million but paid only $791,639.

White Plains warned about looming $1.7M default on City Center garage...

Ratings agencies and capital markets “will penalize the city if it is seen as not taking seriously the looming payment default on the City Center bonds,” Steven J. Berkowitz, president and CEO of ACA Financial Guaranty Corp., states in a letter to Mayor Thomas Roach.