CONSTRUCTIONPENDING

Westchester County IDA Meeting Minutes March 2024

Morgan Stanley Subsidiary Seeks Increased IDA Benefits for Renovation Project

up to $28.5 million (including up to $15 million of additional sales tax exemption; previously negotiated PILOT property tax incentive)Westchester CountyMS HARRISON LLCMarch 20, 2024

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Description

The Westchester County IDA received an amended application from MS Harrison, LLC for expanded financial assistance for the renovation and expansion of the Morgan Stanley Westchester Campus. The project seeks up to $28.5 million in incentives, including an additional $15 million in sales tax exemption, to support a multi-year construction and renovation initiative. No resolution was approved at this meeting; the item was presented and discussed only.

Contract Details

Contract Amount

up to $28.5 million (including up to $15 million of additional sales tax exemption; previously negotiated PILOT property tax incentive)

Vendor

MS HARRISON LLC

Agency

Westchester County, NY

Contract Type

CONSTRUCTION

Document Date

March 20, 2024

Contract Term

Multi-year, 4+ years construction phase

Renewal Info

The project was previously induced and approved in October 2020. Current action is for amended assistance due to scope expansion.

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Issuing Agency