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Yonkers hits the jackpot with new tenants of Empire City

<p>The city of Yonkers will hit the jackpot with some unexpected cash coming in from the soon-to-be tenants of Empire City Casino.</p>

News 12 Staff

Oct 25, 2018, 9:35 PM

Updated 2,093 days ago

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The city of Yonkers will hit the jackpot with some unexpected cash coming in from the soon-to-be tenants of Empire City Casino.
Officials announced Thursday that MGM Resorts International, which is in the process of purchasing the property, will pay the city between $7 million and $8 million in transfer taxes.
Yonkers getting a property transfer tax back from a big corporation is a change of pace. It was not the case when it came to the sale of Ridge Hill and the Cross County Shopping Center.
The sale of the 90-plus acre property won’t be official until early 2019 when that tax money will go back to Yonkers. It comes as the city is facing a $40 million to $60 million deficit for the next fiscal year.
MGM agreed to purchase the casino and raceway for $850 million back in May.


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