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“Hotels can’t operate without bedsheets,” Mandy Lema said. “There are 100,000 hotel rooms. They have to have that service.”
“This has made it nearly impossible … to obtain financing. It stands to reason that investors and lenders will not be willing to lend money … if there is no purchase agreement in place.”
While many of Thomas’ and James’ alleged actions may have been improper, U.S. District Judge Kenneth M. Karas ruled on Sept. 10, they do not “reflect retaliation.”
Mount Vernon Industrial Development Agency has granted a new property tax abatement deal to Mountco development for the Sandford Terrace subsidized apartments for the elderly, to fix a financial crunch.
K&R Preservation wants to fix up Oakwood Gardens and maintain federal housing subsidies.
Ace Natural Inc. shopped for a site near customers and where a local government would offer financial incentives.
In short, residents say the IDA is too generous to residential developers, too insensitive about the residents’ tax burden and too secretive about its work.
“The agreement operates as a gift of public funds,” the school board states in the lawsuit.
Eileen Mildenberger, an attorney who had once directed the county Industrial Development agency, and Edwin J. “Ned” McCormack were appointed by the IDA board.
“We make the magic,” is the American Christmas motto.
“Get on board,” Mayor Richard Thomas implored critics of the project, and make the neighborhood a “much better place to live and work in and play.”
“It was a very hard reconciliation, one of the largest I’ve ever done,” the auditor said.
“Not only was the city failing to be a cooperative partner in this development, but it was actively attempting to derail the project,” said Jonathan Gertman, NRP Group vice president of development.
MacQuesten Development asked the city’s IDA to exempt it from $1.6 million in sales and use taxes and to abate property taxes for 30 years on a project at the Mount Vernon West train station.