Westchester County Business Journal 022017

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6 | FLEETWOOD RISING FEBRUARY 20, 2017 | VOL. 53, No. 8

YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS

8 | LOVE’S LABOR LASTS westfaironline.com

A solar cell entrepreneur carries on his father’s legacy BY RYAN DEFFENBAUGH rdeffenbaugh@westfairinc.com

A WHAT'S NEXT? Lindsay Farrell, president and CEO of Open Door Family Medical Centers, and Robert Glazer, CEO of ENT and Allergy Associates, at a recent panel of health care executives addressing Obamacare’s potential repeal. See page 3. Photo by Ryan Deffenbaugh.

Briarcliff Manor entrepreneur is trying to create the world’s most efficient and commercially viable solar cell, building on his late father’s scientific legacy and perhaps helping to change an entire industry. Ashok Chaudhari heads SolarTectic LLC, a solar research and development firm that its founder describes as a family company that includes his mother and sister. From a home office in Briarcliff, Solar-Tectic has been awarded five patents in different solar technologies, most recently for a germanium perovskite thin film tandem solar cell. The company has an additional 20 patents pending.

Its most recent patent, granted by the U.S. Patent and Trademark Office in January, is the latest step for the company in creating a tandem thin film solar cell. It’s a type of cell that Chaudhari believes will prove more efficient and cheaper to produce than the currently dominant silicon wafer cell, used in about of 90 percent of solar panels. Chaudhari has developed a small solar cell from a previous patent as a proof of concept, but the majority of his work to this point is in intellectual property, developing patents. No solar panel now on the commercial market can reach 30 percent efficiency at converting light into energy, but Chaudhari believes Solar-Tectic’s cell design » SOLAR, page 2

Ossining group proposes homestead option, tax hike for condos BY ALEESIA FORNI aforni@westfairinc.com

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eeing an inequity in the way single-family homes and condominiums are taxed in the town of Ossining, a group is proposing the town board consider an option that would increase property tax rates for condo owners.

Jerry Gershner, Salvatore Carrera and Mark Seiden, representatives of the Ossining Committee for Fair Taxation, have proposed that the town implement the state’s Homestead Tax Option, which would assess condominiums on their market value, like single-family homes. The Ossining Committee for Fair Taxation proposes a five-toseven-year phase-in of the home-

stead option to keep the increases in taxes from overwhelming condominium owners, something that would require legislation from Albany. “We’re not looking to suddenly do something and (say), ‘Forget what Albany says, let’s just get the condo people to suddenly go from $8,000 to $15,000 in taxes,’” said Seiden, owner of Briarcliff Manorbased Mark Seiden Real Estate Team. “We really want to make sure that it is fair.” Seiden said the phasing-in of the tax increase would mitigate any effects on the condominium’s market values. “While real estate taxes are one of the many factors that a buyer will take into account when

making a decision where to live, it is far from the only deciding factor,” he said. Lynn Farrell, a resident of Fox Hill Condominiums in Ossining and member of the Town of Ossining Condominium Association, disagreed. “Common sense would tell you that (the homestead option) will have a definite impact on resale value of the condos,” she said. “Why would you buy a condo in Ossining if the taxes were the same as a private home? Why would you pay taxes for garbage, roads and lighting and then pay for them again in your monthly common charges? “If you wanted to live in a condo, you would buy in

another community where the taxes reflected the services you received,” Farrell said. A state law passed in 1981 established the Homestead Tax Option, which prevents any large shift of the property tax burden to residential owners after a revaluation. Ossining completed the $1.8 million revaluation of its 10,138 properties in 2016, the first such reassessment in 40 years. The project aimed to estimate fair market value for all residential, apartment and commercial properties within the town. “Now we’re at a point where everyone is at full market value, » CONDOS, page 6


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