YONKERS – The Yonkers Industrial Development Agency approved benefits that will pave the way for a boutique clothing manufacturer and affordable housing to come to the city.
Leggiadro International, which manufacturers women’s clothing and sells it in its 13 boutiques nationwide, is purchasing 65 Main Street for use as a factory, cutting room, warehouse, design offices and an outlet store. The building currently houses a hardware store, but is otherwise empty. The hardware store will move.
The company will relocate from its current manufacturing location in midtown Manhattan, bringing 20 workers to Westchester. The company is purchasing the building for $1.65 million and expects to invest $1.4 million in construction, furnishings and fit out.
The IDA will provide a mortgage tax exemption of $20,700 and a sales tax exemption on construction materials estimated at over $48,000. The company will also receive a limited property tax abasement.
The IDA also approved an application by MMR Holdings to purchase and renovate a vacant building at 53 Morris Street that will be converted into 18 apartments.
MMR Holdings of Clifton, New Jersey is purchasing the empty building for $600,000 and will spend an estimated $530,000 on rehabilitation.
The IDA approved a more than $44,000 sales tax exemption on construction materials, and estimated $22,500 mortgage tax exemption, and negotiation of a limited property tax abatement.
