Peekskill incubator project faces a roughly $1.7 million shortfall, board told
Staff told the Peekskill IDA/PFDC that the kitchen incubator project has about $4.2M in funding on hand but an estimated shortfall near $1.7M; city loan, federal reimbursements and upcoming RFPs were discussed as cash-flow and risk points.
The full story
Abby gave a detailed breakdown of the kitchen incubator’s finances and said the project shows a funding shortfall. "So that's about 1.7, million," she said when summarizing the gap between projected costs and committed funds. She reported the project has approximately $4.2 million in identified funding on hand and total expenditures to date of about $117,592.
Sign up to keep reading.
Your free newsletter brings you what your city council, county, and school board discussed and decided.
or