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Greenburgh co makes biotech stock index...summary of Town Board meeting highlights
Release Date: May 23, 2013

Good news about another Greenburgh business. The landmark at Eastview has become a major bio tech center. The following article appears in the Westchester Business Journal.

Greenburgh company makes biotech stock index

By: John Golden Posted date: May 21, 2013 In: Banking & Finance, Hospitality, Technology, Westchester | comment : 0
Progenics Pharmaceuticals Inc. in Greenburgh on Monday was added to the NASDAQ Biotechnology Index.
The index tracks the performance of a set of securities listed on the NASDAQ stock market that are classified by industry as either biotechnology or pharmaceuticals.  It is a modified market capitalization weighted index. Companies must meet eligibility criteria that include a market capitalization of at least $200 million and average daily trading volume of at least 100,000 shares.
Index stocks are evaluated semiannually in May and November and serve as the basis for the iShares NASDAQ Biotechnology Index Fund, which seeks investment results that correspond generally to price and yield performance, before fees and expenses, of the NASDAQ Biotechnology Index. Options based on the NASDAQ Biotechnology Index and the iShares NASDAQ Biotechnology Index Fund trade on various exchanges.
Headquartered on the Landmark at Eastview life sciences campus, Progenics Pharmaceuticals Inc. develops drugs for oncology. Its first commercial product, Relistor, is used to treat for opioid-induced constipation in terminally ill cancer patients.
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The Town Board approved the 2013 capital budget Wednesday night.  Initial funding for a town-wide reassessment was authorized.  Funding for the new sanitation truck that picks up garbage automatically was also funded.  We appropriated $1,320,000 for additional road resurfacing and will be placing additional security cameras at different locations, among many other initiatives.  The Board also awarded the contract for the purchase and installation of new water meters and automated meter infrastructure for our water department. The water district advisory board has been devoting significant time reviewing the various bids.
 
Another accomplishment:  authorizing the waiver of interest and penalties relating to overdue taxes on a piece of property located at 52 Washington Ave to create affordable housing units and a resolution ratifying a memo of understanding between Greenburgh and Ardsley regarding the sale of the former waterwheel property in Ardsley for affordable housing.  A Councilman requested that we postpone a decision on the sale of Frank's Nursery to Game On until the first Town Board meeting in June.  PAUL FEINER
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