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RImproving Fiscal Footing
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Recently, state comptroller Tom Di Napoli For more than 40 years, government, local funding from New York State.” The Bank also stated that Yonkers is better off financially developers, businesses and individuals have provided financing for CFS-ATI, LLC, a private than many other large cities in New York! He been able turn to Hudson Valley Bank for developer, to acquire the downtown ATI site, credited Mayor Spano and the Yonkers City support to help spur economic growth. “As which is included in the Yonkers waterfront Council with taking positive steps to improve Yonkers’ hometown bank, Hudson Valley has master redevelopment plan.
the city’s fiscal footing, including merging city a long history of support for Yonkers, its busi- “We are extremely well capitalized and departments and services, implementing a nesses, and residents, and is committed to the have money to lend, and as a community
hiring freeze, and boosting development at the city’s waterfront.
city’s ongoing economic health and revital- ization,” said Stephen R. Brown, President and Chief Executive Officer.
Most recently, the Bank provided financing for the City to build the Warburton Garage, a $14 million project designed to bring much needed parking to local residents and area small businesses as part of the revitalization of the downtown area. The Bank financed $2.97 million or 21% of the construction budget for the recently completed 300-space parking structure, located on Warburton and Wells Avenues.
The Bank also provided seed lending to get the downtown “Daylighting” project started, added the Bank’s Executive Chair- man, James J. Landy. “With a line of credit from Hudson Valley Bank,” he said, “the City was able to uncover a portion of the Saw Mill River in Larkin Plaza to create urban parkland and, as work was completed draw down from
bank, we welcome the opportunity to discuss how we can help local business grow,” Mr. Brown added.
The Westchester Bank, celebrating its 5th Year Anniversary on June 18, 2013, was founded by local business people with deep roots in the community and is also headquar- tered in Yonkers. Despite the county’s eco- nomic challenges, The Westchester Bank has experienced phenomenal growth since 2008, under the leadership of President and CEO, John Tolomer.
“We recruited a very experienced group of local bank professionals who have created a down-home community atmosphere in which business relationships are thriving,” said Mr. Tolomer. “The quality of our customers, the quality of bank relationships, and our financial performance has far exceeded our expecta- tions and goals.”
Thanks in large part to the financial indus-
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