New Rochelle School District pays out again to developer.
Everyone remembers the tax abatements for the Home Depot that were given to a developer back in the 90’s. Much to my surprise, I was at the New Rochelle School Board Meeting the other night and what was on the agenda, a resolution for approval of another certiorari reduction/payback in taxes.
According to School Board President the payout is around $800K. New Rochelle citizens are paying out yet again. This $800K will affect not only The New Rochelle School District; this money has a domino effect on the City of New Rochelle and the New Rochelle Library.
It is well known that Home Depot had been given a certiorari reduction in taxes a few years ago and several years before that. When do we stop paying for these developments? How much have we really gotten out of the development other than a poorly run box store. Too many developers getting free rides and payouts on the back of the New Rochelle residents. Below is some information from the meeting:
Oct 01, 2013 - Board of Education Committee of the Whole Session
Review of Additional Draft Resolutions
REVIEW DRAFT RESOLUTION NO. 14-105: RESOLUTION AUTHORIZING THE LAW OFFICES OF VINCENT R. RIPPA TO EXECUTE A CONSENT JUDGMENT IN A TAX CERTIORARI PROCEEDING AND AUTHORIZING THE REFUND OF TAXES AS REQUIRED BY THE TERMS OF THE CONSENT JUDGMENT, AND THE AGREEMENT OF COUNSEL FOR THE PARTIES
RESOLVED, that the Board of Education of the City School District of the City of New Rochelle authorizes its attorneys, Law Offices of Vincent R. Rippa, to execute a Consent Judgment in a tax certiorari proceeding captioned:
In the Matter of the Application of
HOME DEPOT USA, INC.,
THE CITY OF NEW ROCHELLE, THE ASSESSOR, THE BOARD OF ASSESSORS AND THE BOARD OF ASSESSMENT REVIEW OF THE CITY OF NEW ROCHELLE, THE ASSESSOR FOR THE CITY OF NEW ROCHELLE AND THE DEPARTMENT OF ASSESSMENT, THE CITY OF NEW ROCHELLE AND THE NEW ROCHELLE SCHOOL DISTRICT,
THE NEW ROCHELLE CITY SCHOOL DISTRICT,
And, be it further
RESOLVED, that the Board of Education of the City School District of the City of New Rochelle authorizes the refund of taxes as required by the terms of the Consent Judgment, and the agreement of counsel for the parties; and, be it further
RESOLVED, that this resolution shall take effect immediately.
14-105 Consent Judgment_Home Depot USA, Inc..pdf (186 KB)
I am not well versed on this stuff so here is an article by Peggy Godfrey from 2011 on this exact topic. There are others on this site that can fill in the blanks with better detail and follow up with more.
How Profitable is the Weyman Avenue Development in New Rochelle?
By Peggy Godfrey on Thu, 12/08/2011
So how sound is the change in direction by The Board of Education on the FEIS for the Forest City Ratner Echo Bay Project. Has The Board of Education really thought through the ramifications of their endorsement of the Forest City Ratner Echo Bay Project? It is not about counting the school children’s heads. It is about the facts as to what the development will cost the New Rochelle taxpayers. Those payouts could haunt us more than Halloween, Trick or Treat City Council and New Rochelle residents. It is the headless horseman coming to get you.