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2 NYC Stores in Line for Public Financing

Two Bronx supermarkets would be the first to benefit under the recently enacted legislation providing public benefits to support food store development in needy neighborhoods.

Jon Springer, Executive Editor

January 12, 2010

1 Min Read
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JON SPRINGER

NEW YORK — Two Bronx supermarkets would be the first to benefit under the recently enacted legislation providing public benefits to support food store development in needy neighborhoods.

The Industrial Development Agency of New York this week proposed financial assistance for a Foodtown supermarket damaged by fire on 204th Street, and for a Western Beef store and accompanying warehouse on Webster Avenue. In both projects, proposed assistance includes payments in lieu of city real property taxes, exemption from city and state mortgage recording taxes and exemption from city and state sales and use taxes.

The agency has scheduled a public review for the projects on Feb. 4.

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About the Author

Jon Springer

Executive Editor

Jon Springer is executive editor of Winsight Grocery Business with responsibility for leading its digital news team. Jon has more than 20 years of experience covering consumer business and retail in New York, including more than 14 years at the Retail/Financial desk at Supermarket News. His previous experience includes covering consumer markets for KPMG’s Insiders; the U.S. beverage industry for Beverage Spectrum; and he was a Senior Editor covering commercial real estate and retail for the International Council of Shopping Centers. Jon began his career as a sports reporter and features editor for the Cecil Whig, a daily newspaper in Elkton, Md. Jon is also the author of two books on baseball. He has a Bachelor of Arts degree in English-Journalism from the University of Delaware. He lives in Brooklyn, N.Y. with his family.

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