The future of the Indian Point nuclear plant in Westchester County will be decided in the near term. The license for one of the generators is due to expire next year, and the other generator’s license is up in three years. Gov. Andrew Cuomo has made it clear that he wants the plant, which generates nearly a quarter of the city’s electricity, to close.
O.K.—and then what?
The state is suggesting that it may nearly triple the cost of crossing the Hudson River from Rockland County to Westchester County when it replaces the outdated Tappan Zee Bridge in several years. The new bridge is going to cost some $5 billion, and Governor Cuomo needs to figure out how to pay for it.
The plan to hit up drivers for 14 bucks when they enter Westchester County (the bridge has a one-way toll system) is very likely a trial balloon, similar to the Port Authority’s plan last year to impose huge new hikes on its bridges and tunnels that connect New York and New Jersey. Governors Cuomo and Christie expressed horror and outrage, and the PA, as if on cue, immediately reduced its request, but tolls went up all the same.
That’s the likely scenario for the new Tappan Zee Bridge—the toll will be significantly higher than it is now, but it won’t be as high as the request. That’s how politics works. But here’s the problem: Government is making it increasingly expensive for commuters and commercial traffic, and that’s simply not good news for the city and regional economy.
Lease of the Week
In an effort to resist the staid tradition of naming businesses after the locality in which they operate, Westchester Medical Group, a physician-run, privately owned medical group in Westchester County, rebranded itself in 2009 as WestMed Medical.
But besides distancing itself from an aging brand name, there was another reason behind the repositioning.
“Everything in the economy is shrinking, so we just shrunk our name,” joked Dr. Simeon Schwartz, the company’s founding president.
Beyond Manhattan’s gilded skyscrapers are the tristate region’s outer office markets: Long Island, northern New Jersey, Westchester County and Fairfield County in Connecticut. Rents are still down and vacancies are still high, but tenants are no longer paralyzed by the downturn and jump at a good deal, especially when a property is close to public Read More