At a recent City Council Meeting Cappelli’s lead person Joseph Apicella claims they have spent 17 million dollars on the Le Count Place project.
I wonder about that math. Seems a bit Fuzzy as usual.
When you contract to purchase property you don’t actually spend that money completely unless you have closed on the property. Knowing that some of these real estate transactions have yet to close you can see that the statement by Apicella should have been that we are going to be purchasing and investing 17 million dollars gathering the real estate needed some day….Maybe if the IDA sweetens up the PILOT Money???
LeCount is a now self blighted area as most of the property associated with this is now either boarded up or vacant. This is now going on for almost 4 years as they are looking for extention # 13….
In traveling across the street you see more vacancy as Apicella now admits Shop and Stop is closing.
I say Show us your deal in writing with Target and supply the City Council with the phone # of the person @ Kohls who your lawyers are negotiating with.
Other than that Mr. Apicella your word is hard to accept on face value. I suggest it is way past the time to let this continue and it is time to find a direction that is much more scaled down. I say New Rochelle and its Tax payers would be better off without Cappelli’s over Zealous LeCount Place project especially if it does not add to the Tax base while requiring incentives. There has got to be a better way than dealing with such vageness and potential to not meet Sales Tax revenue. In the end the Pilots given out will never match the Sales Tax revenue touted by Joseph Apicella and his consultants. Let the Pilots match what comes in not what has been eroniously promised. Enough is enough Mayor Bramson its time to move on. Time for you to stop manipulating these projects with your cronies on the IDA. This is bad business for New Rochelle and it will stick the Tax Payers with decades of Tax payer subsidized PILOTS. If its good for Cappelli it ought to be good for New Rochelle just in the math not in the Smoke and Mirrors portrayed by Joseph Apicella.
One thought on “LeCount and Counting”
Comments are closed.
What happened to theme song, little house on the prairie?
Now that the Democratic majority has created a blighted area on LeCount Square is this a new little house on the prairie? Previously the Demcratic majority complaint was the empty lots on Hugenot Street, but this blighted area is much more damaging because there were viable, tax paying businesses in LeCount Square. Is the ajacent Trump Tower near bankruptcy? The Westchester Eye claims that “about a quarter of the units are still available…after a recent 30% price reduction.”