WESTHELP proposals received

The Town Board issued a request for proposals from developers/housing managers for the WESTHELP property. The following is a brief summary of the responses we received today. The Town Board will discuss the proposals tomorrow at 9 AM at the Greenburgh Town Board work session. Our meetings are televised live on public access TV and streamed live on the internet. We have invited our Greenburgh Legislators – Alfreda Williams, Mary Jane Shimsky and Michael Smith to the work session. Ken Jenkins, chair of the Board has also been invited. Although Ferncliff Manor submitted the highest bid to the town, the Greenburgh Legislators had expressed opposition to the Ferncliff proposal in recent months. Each of the following proposals will be posted on the town website –sometime tomorrow, if not sooner.


PAUL FEINER





Ferncliff Manor, Inc.

$500,000 per year to the Town until the year 2031 to operate a residential school for 74 developmentally disabled children. 70% of the children come from families with incomes below $50,000 annually.



Group MRH, LLC & The Richman Group Affordable Housing Organization

$100,000 per year to the Town until the year 2032 to operate an affordable rental housing pursuant to a triple Net sublease agreement with the Town for the remaining 20-year Master Lease term.



HarborView Properties

$125,000 to 165,000 per year to the Town until the year 2032 to operate property as an eighty percent (80%) Market Rate Apartment Rental Community with twenty percent (20%) of Units set aside and designated as ¨Affordable Housing Units.¨



Marathon Development Group

$200,000 initial lease payment and lump sum $2,000,000 at contract closing representing the net present value of 20 year payment streams to the Town until the year 2032 to convert the existing shelter apartments into 80 units of affordable senior housing (55 and older), with a preference for veterans.



Community Housing Innovations

$350,000 per year to the Town until the year 2032 to develop the former WestHELP site for use as affordable housing, primarily for seniors and the existing administration/school building for a community use such as relocation of the Lois Bronz Children’s Center or Ferncliff Manor, Inc.’s. temporary use for a disabled school facility.



WestHAB

$200,000 per year to the Town ($600,000 up front) until the year 2064 to operate affordable housing pursuant to a tri-party lease between WestHAB, the Town and the County using Low Income Housing Tax Credit Equity for 50 years.