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MEETINGS & CONVENTIONS • 17
Main STreeT inveSTMenT SouGHT
JOHN GOlDeN
INSIDE
June 16, 2014 | VOL. 50, No. 24
Telescopic vision page 2
Ossining residents raise money for downtown development BY JOHN GOLDEN jgolden@westfairinc.com
A
The city already sells operators what it calls taxi “medallions,” but the existing licenses are medallions in name only. They are annual permits that sell for $145 and last 12 months. The new system would sell metal pendants to display in cabs that could then be resold by taxi operators. The city
group of Ossining residents has launched a community investment fund and commercial development initiative that its founders see as a pioneering model in Westchester County for sparking downtown revitalization and private investment in Main Street business districts. Started in March, Grow Ossining recently reached its initial goal to raise $10,000 in seed money to cover startup costs for the enterprise by seeking $100 contributions from 100 Ossining residents. Attorney Wayne Spector, who co-founded Grow Ossining with another longtime Ossining resident, Dennis Kirby, said a little more than $11,000 was raised in the brief startup campaign. “Even though it’s a small amount, it indicates that people are interested in and embrace the initiative,” Spector said. The founding members will use some of the funds to structure Grow Ossining as a limited partnership and to prepare a business plan, legal prospectus and an offering plan for investors. Spector is a partner at Cohn & Spector Esqs. in White Plains and attorney for the town of Ossining. Kirby is a former facilities and planning manager at PepsiCo Inc. and Merrill Lynch & Co. Inc. and a member of the town of Ossining planning board, on which Spector served for 15 years. Their focus at Grow Ossining is the village’s Main Street business district, which they said has lagged behind those in nearby communities on the Hudson River and Long Island Sound, such as Peekskill and Port Chester, that have reanimated their downtowns as retail, dining and entertainment destinations.
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FACES & PLACES• 35
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Joseph Vellone views family photos that for years he could not see.
New Rochelle considers auctioning taxi cab medallions BY MARK LUNGARIELLO mlungariello@westfairinc.com
neW roCheLLe offICIaLs are ConsIDerInG selling medallions to taxi operators beginning next year under a proposal that would shift the way cabs are licensed in the Queen City of the Sound.