According to the New Rochelle Industrial Development Agency, we have granted more than $10 million in annual tax breaks to the two Avalon buildings in downtown New Rochelle. Of that amount, almost $8 mil should be going to our schools.
I am told that more than 100 New Rochelle students live in the two Avalon buildings. We spend almost $21,000 per student per year in our city, meaning the annual burden on the school system from these two buildings exceeds $2.1 million. And for that we’re getting less than $70,000 in fees paid from the buildings into the school system.
The Avalon on the Sound deal expires in 2029 while the Avalon on the Sound East deal expires in 2034. We will feel the effects of these bad deals across a generation.
It’s time for some fresh thinking in city government.
“Don’t ever get angry at a man for stating the truth.” – Dagny Taggart