City of New Rochelle Awards Financial Services Contract to Brp 466 Main Street Llc (June 2026)

The New Rochelle IDA approved financial assistance for BRP 466 Main Street LLC’s 489-unit mixed-use project at 466 Main Street, including sales tax and mortgage recording tax exemptions and a 25-year PILOT. The board authorized the package despite deviations from the UTEP to advance the project.

Document date · June 24, 2026

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Scope & details

The full contract record, as filed.

Contract type

FINANCIAL_SERVICES

Contract term

25-year PILOT

Renewal

PILOT agreement authorized for a fixed 25-year term; deviations from UTEP suggest customized payment schedule over the life of the agreement.

Document type

Minutes

Source document

New Rochelle Industrial Development Agency Minutes Regular Meeting 2026-06-24

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New Rochelle Industrial Development Agency Agenda 2026-06-24

PENDING

City of New Rochelle, New YorkJun 24, 2026

New Rochelle Industrial Development Agency AgendaPacket BRP 466 Main Street LLC Project 2026-06-24

APPROVED

City of New Rochelle, New YorkIDA financial incentive package valued at approximately $62,045,680 (including $51,503,462 in property tax savings, $8,600,707 sales tax exemption, $1,941,512 mortgage recording tax savings)Jun 24, 2026

New Rochelle Industrial Development Agency AgendaPacket BRP 466 Main Street LLC Inducement 2026-05-27

PENDING

City of New Rochelle, New YorkFinancial assistance—amount TBD (Sales and use tax exemption, mortgage recording tax exemption, PILOT)May 27, 2026

City of New Rochelle Planning Board Agenda June 24 2025

EXTENDED

City of New Rochelle, New YorkJun 24, 2025

City of New Rochelle Planning Board Agenda June 24 2025

DISCUSSED

City of New Rochelle, New YorkJun 24, 2025

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by City of New Rochelle?

Brp 466 Main Street Llc was awarded this financial services contract by City of New Rochelle, as recorded on June 24, 2026.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in New Rochelle Industrial Development Agency Minutes Regular Meeting 2026-06-24 (Minutes), dated June 24, 2026 from City of New Rochelle. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Brp 466 Main Street Llc hold?

Brp 466 Main Street Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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