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TWN BD VOTES TO LEASE PORTION OF TOWN HALL TO FEDERAL CREDIT UNION
Release Date: February 23, 2006

The Greenburgh Town Board unanimously voted to authorize the Supervisor to execute a lease for a portion of the Town Hall to Westchester Federal Credit Union at the Town Board meeting on February 22. The town will lease about 1,100 square feet of space for which we have no immediate use. The rent will be charged at a base rate of $23 per square foot, for an annual rate of $25,300. The lease term is five years with an option to renew by mutual consent. The rent will be increased after the first year by an increase measured by the CPI applicable to the region that includes Greenburgh. In addition, the tenant will pay an amount of $2.25 per sq foot each year for electricity, for a total amount of $2,475. The tenant will be responsible for all costs related to improvements made to its premises and improvements must be approved in advance by the Building Inspector and Commissioner of Public Works. The town reserves the right to terminate the lease should an unanticipated need for the space by the town develop during the term thereof.

This is a good opportunity for the town. Credit unions are not for profit co-operative financial institutions owned and controlled by members. Residents of Greenburgh and town employees will enjoy benefits and savings – thanks to the credit union. And, the town will generate some additional revenue that can be used to keep taxes down. The town has been discussing the possibility of renting out space at Town Hall for over two years. The members of the Board have reached a consensus to build a new cable TV access studio at Town Hall.

On another matter--- the Town Board authorized the Rotary Club to sponsor a PETS FOR KIDS PARADE at WebbParkon October 15th. The Rotary Club will sponsor this event with Student Advocacy. This special event is for the entire family and will include games and activities including a pet parade, funny bone competition (owner look alike, fastest moving tail, etc).

PAUL FEINER




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