Avalon's Tax Abatement Comes Under Scrutiny by Peggy Godfrey (In Westchester Herald, September 7, 2009)
New Rochelle Councilman Lou Trangucci is planning to ask the City Council members at their September 8 meeting to sign a letter requesting that the downtown Avalon apartment buildings voluntarily make tax contributions to the city. He is suggesting a contribution of one million dollars per year for the next four or five years to help the city through the present financial crisis.
Among the items Trangucci enumerated is the $12 million Avalon would pay if full taxes were required. Presently their payment to the city is $650,000, based on their "profit" as projected in the pilot agreement which lasts 30 years with the city.
Layoffs in city service personnel have been threatened for next year and Trangucci's proposed request to Avalon is a way of averting layoffs. Avalon, it should be remembered, will be adversely effected by any layoffs because presently 15-17% of the police, fire and emergency medical services are needed for downtown.