Summary of Specifications:
The City of Yonkers (the “City”) is seeking to select an experienced developer to redevelop the Willow Street Parking Facility (the “Property”) into residential use.
The Property is located in the southwest section of the City at 136 Willow Street (Block 464, Lot 48). Willow Street runs between Poplar Street and Mt. Carmel Place and is one street west of Oak Street. The Property is not subject to an urban renewal plan. It is located in an “urban renewal site designation area” as defined by City Council Resolution No. 159-2005 adopted on June 14, 2005. The urban renewal plan for the site designation area will be known as the “Nodine Hill Urban Renewal Plan”. However, there is no assurance that the Planning Board or the City Council will approve the new urban renewal plan.
The Property is located in the City’s Empire Zone. Businesses that qualify and make certain kinds of investments and / or create new jobs in an Empire Zone are eligible for a combination of State tax credits and the eligible benefits are as follows: Wage Tax Credit, Investment Tax Credit, Employment Incentive Credit, Real Property Tax Credit, Tax Reduction Tax Credit, Sales Tax Refund, Sales Tax Exemption, Zone Capital Credit, and Utility Rate Reductions. A business must become certified and be located within the Empire Zone boundaries. The business must plan to expand its facility and / or employment within the zone. The City makes no representations that this project is eligible for Empire Zone Benefits.
The property is located in an “M” zone (medium density apartment house / multiple dwellings). The Zoning Ordinance can be found on the City’s website at www.cityofyonkers.com. To access the Zoning Ordinance, go to the left side of the Home Page and click on Forms and Publications, then Publications, then the Yonkers City Code. Under the Table of Contents, scroll down and click on Chapter 43, Zoning. A site plan review will be necessary to determine if the proposal meets all zoning requirements.
Before the property was a parking lot, there were two structures on this site that were destroyed by fire approximately fifty years ago – the foundations remain under the surface. The property has been a parking lot ever since.
According to the City’s tax map the lot is approximately 200 feet wide and 100 feet deep for a total of approximately 20,000 square feet.
To be considered qualified, Proposers must have ten years successful experience with developing residential properties. The City is seeking developers that can demonstrate the ability to execute this project without assistance from the City of Yonkers.
It is the City’s intention to transfer the property to the Yonkers Community Development Agency (the “YCDA”) and the YCDA will lease the property to the Developer until construction has been completed and accepted by the City, after which the Developer will purchase the property from the YCDA.
The City of Yonkers welcomes all qualified vendors to participate in our solicitations, and we encourage participation from local and Minority and Women Business Enterprises.
