County IDA OKs $130,625 for 3 employers;
Win Properties plans a move to Rye Brook
By ALEX PHILIPPIDIS :: January 4, 2007

Westchester County’s Industrial Development Agency this morning agreed in principle to approve economic development incentives totaling $130,625 for three employers:

Photo File Inc., the largest manufacturer of licensed sports photos and other image-based products, would receive $40,000 toward equipment purchases in connection with its planned Mount Kisco consolidation of operations now scattered between its Yonkers headquarters and New Jersey.

Photo File plans to move from 5 Odell Plaza, within Mack-Cali Realty Corp.’s South Westchester Executive Park, to 42,848 square feet in the former Grand Union distribution center at 333 North Bedford Road, owned by Valhalla-based Diamond Properties. The relocation is projected to cost $650,000. In return, Photo File has promised to remain in Westchester and add 19 new employees over the next three years to its current work force of 41.

Win Properties Inc. – a manager of residential, retail and other commercial properties in 37 states and Canada – would receive $50,625 toward the purchase of equipment for its $1.025 million headquarters move from Greenwich, Conn., to a 7,500-square-foot suite at 10 Rye Ridge Plaza in Rye Brook. The company’s staff would remain at 17 employees.

Win Properties and Photo File received benefits under the IDA’s Small Business Initiative, which assists businesses of up to $20 million in revenue that plans to spend between $100,000 and $1.2 million on eligible purchases.

The YMCA of Central and Northern Westchester Inc. would receive an exemption from state and county mortgage taxes valued at $40,000 toward renovation, electrical and HVAC system upgrades to the 60,000-square-foot White Plains Family YMCA, 250 Mamaroneck Ave. The IDA will issue a $4 million civic facility bond covering the $2.6 million cost of the nine-month project.

The project won’t change the size of the YMCA’s workforce, consisting of 55 full-time and 268 part-time employees.