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June 14, 2007
More Ridge Hill nuttiness
Some folks in Yonkers were stunned to wake up this morning to news that their City Council would be voting on the budget this evening. [In Yonkers, budget approval votes, no matter how overdue, are subject to public-notice rules.]
Budget negotiations have been contentious and bogged down due to the fact that the Mayor, Phil Amicone, worked out a backroom deal with developer Forest City Ratner permitting the company to purchase the lease for the Ridge Hill property for $26 million, far less than the City's previous valuation of $150 million, and former State Comptroller Alan Hevesi's appraisal of $630 million.
From Community First Development Coalition Blog, Budget Meeting Tonight Despite No Official Notice. 8:00pm City Hall:
According to today's Journal News The City of Yonkers Budget will be voted on tonight. No official notice has been sent out as of 7:50am, despite the Council's own 24 hour notice rule. Interestingly the Ridge Hill Lease will now not be used to fill the budget gap.
From the Journal News, "City Council leader hopes to pass Yonkers budget tonight;"
The budget does not include $8.5 million in revenue that would come from the sale of the lease at Ridge Hill development site, a deal that several City Council members are challenging in the hope of getting more money for the city.
NoLandGrab: We're hearing from the Yonkers grapevine that State Assemblyman Richard Brodsky is taking a close look at the Ridge Hill deal, which is another stellar example of how developer Forest City Ratner always manages to get land for cheap and lots of taxpayer money to help pay for it.
Posted by lumi at June 14, 2007 7:56 AM