Developer: Tax Exemptions Sought For New Bioscience Center

Earlier this year, developer Fareri Associates announced a proposal to invest over $1 billion to build a bioscience and medical office complex in Westchester and is now aiming to negotiate tax exemptions before breaking ground. John Farari, President and CEO, explained that the 80 acre project includes 20 acres he currently owns along with 60 county owned acres near the Grasslands Reservation, known as “The North 60.” Fareri hopes to meet with Mount Pleasant development agencies, one of the towns the property will be built on, to negotiate tax deals on the annual taxes generated totaling an estimated $9 million once the three-phase project is fully completed. Originally, the county refused to offer tax incentives for the project. Fareri has a long standing relationship with nearby Westchester Medical Center when he raised enough funds to erect the Maria Fareri Children’s Hospital, named after his daughter who died in 1995. About 8,000 permanent jobs and an additional 4,000 construction jobs would result from the project which County Executive Rob Astorino hopes will attract young and educated professionals to the community.

Snow Closings Updated Regularly

Please click on the image below to view all snow closings for Rockland County.