Senior Housing: 2 Westchester assisted-living centers offered $3.1M in tax breaks
Two assisted-living centers proposed for Scarsdale and White Plains would receive tax breaks totaling $3.1 million through the Westchester County Industrial Development Agency.
The IDA this week tentatively approved a $1.08 million sales tax exemption and a $423,000 mortgage tax exemption for Engel Burman Group of Garden City, Long Island. Engel Burman is the lead developer for a proposed renovation of the former St. Agnes Hospital in White Plains.
Engel Burman proposes to convert the vacant hospital at 305 North St. into an assisted-living community providing meals, housekeeping, laundry and linen service, and recreational and other programs. There also would be a special care unit for persons with dementia or Alzheimer’s disease.
The project is estimated to cost $34.4 million and would employ 40 full-time and 25 part-time workers with a total payroll of $2 million, according to a project summary from the IDA.
The owner of the hospital, a subsidiary of North Street Community LLC, is described as a minority member in the project. The two companies announced their joint venture in the project in April.
The developers are negotiating with White Plains over the number of beds. Engel Burman has developed, owns and runs assisted-living centers in the metro area, including six in Nassau County.
The IDA also tentatively approved a $1.2 million sales tax exemption and a $400,000 mortgage tax exemption for the developer of Ambassador at Scarsdale, a 115-unit assisted-living facility proposed for 25 Saxon Woods Road.
The $48 million project would employ 38 to 45 full-time workers and 11 to 15 part-time workers for a payroll of $2.2 million, according to the IDA summary of the project. The developer is Renamba LLC of Manhasset. The project has been under review for years. Last year White Plains city officials said the plan would need their signoff because a portion of the property falls within city limits.
The IDA also granted tentative approval to tax-free bonding for both projects, which would help the developers market the bonds to investors.
By Jerry Gleeson for Lo Hud
