At the Town Board Work Session, a record forty-five minutes or so transpired before the Board adjourned to Executive Session. During the public portion of the meeting, they accepted the bid from a new partnership made up of the Richman Organization and Group MRH. Their partnership proposal promises to pay Greenburgh $1.5M up front and almost $500,000 annually. These payments will continue through the year 2032. They must also spend approximately $2M in renovations. This unnecessary expense is because The Paul/Greenburgh left the apartments exposed to the elements, causing them to fall into into unnecessary disrepair since October of 2011, when the Town took over the property!
While the Town has lost $1.2M per year and will never recoup those losses, ABG is happy to see the property finally be used for what it was intended - housing. We’re also glad that the housing will be focused on providing homes for people from age 55yrs and older. It’s a shame that the hijinks from The Paul and his complicit Town Board were allowed to get this far. Let’s hope a decision for the former Frank’s Nursery is soon to come as it’s another property that has fallen into The Paul’s mischievous hands. We can only hope.