Peekskill council authorizes nonbinding letters of support for proposed 57‑unit Broad and Howard development

The Peekskill City Council unanimously approved Resolution J‑2 on Aug. 31 authorizing the city manager and city assessor to issue nonbinding letters of support for financing requests by the developer of the proposed Broad and Howard development.

“This resolution authorizes the city manager and city assessor to issue letters of support with respect to certain financing being requested by the developer of a proposed development at Broad And Howard Street, which is called the Broad And Howard Development,” Councilwoman Talbot said when moving the resolution. She described the project as a proposed construction of 57 residential units and said any public benefits conferred must be feasible for the city’s fiscal needs.

Council members described the letter as a formality to aid the developer in potential funding options, including tax credits, and the city manager characterized the letter as nonbinding. The resolution passed by unanimous voice vote. The council did not debate specific tax‑credit terms, and the motion did not commit the city to future financial obligations; it authorizes staff to provide supportive correspondence to assist the developer’s funding applications.

The city manager told the council staff and the Industrial Development Agency (IDA) have been engaged in negotiations and that any pilot or impact‑fee arrangement would be structured so the city would not lose revenues necessary to maintain services. Council members requested follow‑up as details of any incentive package or pilot are developed.