News from the Westcherster County Board of Legislators.

White Plains, NY — Members of the Westchester County Board of Legislators are hailing the decision by County Executive George Latimer to sign a lease that will create a $1.2 billion biotech center on 60 acres of land in Valhalla (known as “the North 60”), spurring economic growth in the county for years.

The 99-year lease with developer Fareri Associates was unanimously approved by the Board of Legislators in April 2017, but was unsigned until Latimer signed the deal on behalf of the County on Thursday, January 10.

The finalization of the lease opens the way for development of the property near Westchester Medical Center as a biotech hub with more than two million square feet of lab and research space and hundreds of thousands of square feet of medical offices, as well as a 100-room hotel and retail space.

Board Chairman Ben Boykin (D – White Plains, Scarsdale, Harrison), said, “This is a remarkable day for Westchester County.  This is one of the largest economic deals in County history, representing a $1.2 billion investment, and will have a positive impact on this County for generations – delivering millions in tax and rent revenue, creating thousands of new jobs, and helping Westchester attract the businesses of the future.”

Boykin added, “I applaud the County Executive for signing the lease and we look forward to continuing to work together to create opportunities for residents and businesses in Westchester. I also applaud former Board Chair Mike Kaplowitz, for his work stewarding the legislature’s comprehensive review of the proposal, and getting it passed in 2017.”

Vice Chair Alfreda Williams (D - Elmsford, Greenburgh, Sleepy Hollow, Tarrytown), said, “I am pleased that this development is finally happening, and I look forward to the day when it is generating jobs for the people of Westchester County. The Board undertook a thorough review of this project to ensure the best deal possible for the taxpayers, residents and businesses of Westchester, and I am gratified that after his own review, County Executive Latimer agreed to finalize a deal that will invest $1.2 billion in Westchester County.”

Majority Leader Catherine Parker (D - Harrison, Larchmont, Mamaroneck, New Rochelle, Rye) said, "I'm thrilled that this deal has been signed.  It's probably the biggest economic deal in Westchester in the last 30 years. Of course I'm excited that we'll have a biotech hub that will attract new businesses.  But I'm also pleased because our young people who go off to college and get science and technology and medical degrees, instead of needing to leave home to find work in cutting edge fields, will be able to find that work right here.”

Majority Whip MaryJane Shimsky (D - Ardsley, Dobbs Ferry, Edgemont, Hartsdale, Hastings-on-Hudson, Irvington), said, “The North 60 is a vital investment in the County’s economic development, as it will strengthen our booming biotech industry.  I look forward to seeing the vision of Mr. Fareri, with the cooperation of our economic development team, consultants, and local governments, come to fruition.”

Legislator Mike Kaplowitz (D - New Castle, Somers, Yorktown), who was Board Chair when the lease was approved by the legislature, said, “This is a nearly perfect project -- creation of thousands of  jobs, a $1.2 billion investment, hundreds of millions of dollars of economic activity, and a development of a biotech ‘Silicon-Valley’ here in Westchester. I was proud to lead the County Legislature when we analyzed and unanimously approved the 99-year deal and I am excited to see it come to fruition as soon as possible.”

Legislator Catherine Borgia (D - Briarcliff Manor, Cortlandt, Croton-on-Hudson, Ossining, Peekskill), who was the Board’s Majority Leader at the time the Board approved the lease, said, “I am excited to see the North 60 development take the next big step after the Board of Legislators’ extensive review of the project in 2017. Biotechnology is a global industry worth more than $300 billion today, and is expected to double in economic value over the coming years.  This project will keep Westchester at the forefront of innovation in the biotech field, while opening new economic opportunities for decades to come.”

Legislator Margaret Cunzio (C - Mount Pleasant, North Castle, Pleasantville), whose district includes the North 60, said, “I am very happy about the signing of the North 60 lease.  I am proud to have played a part in getting to this point.  This project will have a positive impact on the County, the Town of Mt. Pleasant and the two school districts involved -- the Mt. Pleasant Central School District and the Pocantico Hills School District.  This will expand the County’s reputation as a biotech hub and bring thousands of jobs in the biotech field, as well as in areas of construction and labor.  I am looking forward to seeing this project completed and I want to thank all those involved for their perseverance and patience.”