RyeCity REVIEW THE
November 24, 2017 | Vol. 5, Number 47 | www.ryecityreview.com
Astorino releases 2018 budget; partisan tensions flare By JAMES PERO Staff Writer
Getting into the
holiday spirit
The first annual Spirits of the Holidays pop-up market at Rye’s farmers market on Nov. 19 gave shoppers the opportunity to sample and buy from independently owned liquor companies in New York state. For story, see page 6. Photo/Sibylla Chipaziwa
Houlihan Lawrence report shows market gains
Powered by the robust sectors of technology, health care and communication industries, Westchester’s commercial real estate markets are in good health and enjoying the support of continued economic expansion, according to the Q3 Commercial Market Report from Houlihan Lawrence’s Commercial Group. Westchester County office and retail markets showed positive absorption rates in the third quarter.
Some price concessions appear to have emerged as landlords seek better occupancy rates. The Market Report, which was written by Teresa Marizano of the Commercial Group, identified the following trends: Apartment demand continues to grow in Westchester: Affordability and lifestyle flexibility have kept apartments as an attractive choice for new households in Westchester. Year-
to-date absorption of newly delivered apartment units south of I-287 has weakened from the record-breaking 2016 level of 961 units to a still strong 730, or one percent of stock. Developers are acquiring sites near transportation hubs, which renters prefer, and these hubs are also drawing restaurants and retailers to create a concentration of amenities that draws consumers of all ages and strengthens
overall real estate demand. Warehouse space demand continues to exceed supply: In Westchester areas south of I-287, the industrial sector has benefitted from new retail consumption patterns that require direct fulfillment from distribution centers. Industrial and flex properties achieved price gains of 6.8 percent compared to a year ago. MARKET continued on page 5
In his final budget as Westchester County executive, Rob Astorino once again held the line on taxes, but in doing so scaled down the workforce and cut key staffing positions that opponents claim will hamstring the incoming administration. The Republican Astorino, in unveiling his $1.8 billion 2018 county budget on Nov. 13, continues a flat tax levy for the eighth consecutive year, but concerns have been affixed on a number of cuts that county Democrats say deal incoming County Executive-elect George Latimer, a Democrat who will take office come January, a short hand. Latimer beat Astorino on Election Day, Nov. 7, to win the county executive seat for a four-year term. As proposed, the 2018 budget keeps the tax levy flat at $548 million, holds expenses flat and accounts for a minimal increase in overall spending of less than 1 percent. “I made a promise to protect taxpayers, and I have kept it,” said Astorino about his commitment to never raising the tax levy during his 8-year run in the county executive’s office. “In doing so, much needed money has stayed in the pockets of individuals, families and, in particular, seniors across Westchester.” In releasing the 2018 budget, the outgoing county executive
touted the plan to preserve essential services in the budget. Funding for the Department of Social Services would increase by $8.5 million under this plan. Funding for day care would also increase by $2 million, meaning parent contributions would remain at the current level of 27 percent. Also, nonprofit funding, which has become a hot-button issue after nearly ending up on the chopping block throughout the past several years, is being kept static next year. “This is a budget that protects taxpayers, preserves essential services and promotes economic growth,” Astorino said. But members of the county Democratic Caucus have already begun criticizing the budget by keying in on staff cuts to the county Engineering Division of the Public Works Department, which will lay off 12 people, in addition to reducing manpower on the county executive’s staff by 25 percent; that Democrats contend were enjoyed throughout the entirety of Astorino’s administration. “From the self-imposed fiscal crisis the Astorino administration has left us in to the inclusion of irresponsible revenue sources in this budget, it is clear we have some real work to do on behalf of the people of Westchester County,” said Democratic Majority Leader Catherine Borgia, of Ossining. “The attempted use of $30 million of revenues reserved for BUDGET continued on page 8