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  • Mount Vernon Developer O... CK Taxes Dating To 2011

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    Samuel L. Rivers
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    Mount Vernon developer owes $107K in back taxes Jorge Fitz-Gibbon, jfitzgib@lohud.com 8:15 p.m. EST January 5, 2015 MOUNT VERNON – A local developer who was tapped by city officials to lead the revitalization of the long-troubled Third Street corridor may need to get his own affairs in order — by paying his taxes. Terrence Horton owes more than $107,000 in city, school and Westchester County taxes for two Mount Vernon properties including 12 E. Third St., part of the stretch of the city's south side that he is charged with rehabilitating. "We are aware of the taxes," Horton said Monday. "Sometimes it's a heavy lift doing these big projects. We don't believe it's an oversight but we are handling it. We've already been in discussions, and that matter will be resolved very shortly now." Both delinquent properties are slated for future development, he said, "so you pay it off at one time with everything else. Every developer does it the exact same way." Horton, 56, is a former Mount Vernon public works commissioner and is the brother of Steven Horton, a former Mount Vernon councilman and executive director of the New Rochelle Municipal Housing Authority. He is CEO of Sentinel Construction Inc. and other local development companies including MLK 3rd & 3rd, which is spearheading the Third Street initiative. Plans include at least two high-rises along the corridor, which has been the focus of ambitious rehabilitation proposals for decades. Horton has been involved in numerous projects in the city and earlier initiatives on Third Street. He renovated 10 buildings in the corridor under a 1999 facade improvement program and is currently developing The Roosevelt, a $14.5 million, 42-unit apartment building on Franklin Avenue. But city records show that Horton has failed to pay taxes on two of his city properties, including at 434 Franklin Ave., since July 2011. He owes $52,201.84 in school, city and county taxes on that property, and another $55,495.72 on the East Third Street property, records show. Horton and QFI Inc., one of his companies, also are named in a lawsuit filed in 2012 by American Express, which alleges that Horton and the company owe nearly $8,800 on a Platinum Card account. In 2011, JPMorgan Chase filed a complaint alleging that Horton and QFI failed to keep up payments on a $45,000 revolving line of credit. Both cases are pending. Horton said he is fighting the cases and noted the disputes stem largely from the fact that QFI is now defunct. Horton is a longtime associate of Mount Vernon Mayor Ernie Davis, an architect by trade, and has been involved in several projects during Davis' tenure at City Hall. Davis is facing up to two years in federal prison when he is sentenced this month on his guilty plea to misdemeanor tax evasion charges. He had been under federal scrutiny for the past seven years. Twitter: @jfitzgibbon

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    Mount Vernon developer owes $107K in back taxes Jorge Fitz-Gibbon, jfitzgib@lohud.com 8:15 p.m. EST January 5, 2015 MOUNT VERNON – A local developer who was tapped by city officials to lead the revitalization of the long-troubled Third Street corridor may need to get his own affairs in order — by paying his taxes. Terrence Horton owes more than $107,000 in city, school and Westchester County taxes for two Mount Vernon properties including 12 E. Third St., part of the stretch of the city's south side that he is charged with rehabilitating. "We are aware of the taxes," Horton said Monday. "Sometimes it's a heavy lift doing these big projects. We don't believe it's an oversight but we are handling it. We've already been in discussions, and that matter will be resolved very shortly now." Both delinquent properties are slated for future development, he said, "so you pay it off at one time with everything else. Every developer does it the exact same way." Horton, 56, is a former Mount Vernon public works commissioner and is the brother of Steven Horton, a former Mount Vernon councilman and executive director of the New Rochelle Municipal Housing Authority. He is CEO of Sentinel Construction Inc. and other local development companies including MLK 3rd & 3rd, which is spearheading the Third Street initiative. Plans include at least two high-rises along the corridor, which has been the focus of ambitious rehabilitation proposals for decades. Horton has been involved in numerous projects in the city and earlier initiatives on Third Street. He renovated 10 buildings in the corridor under a 1999 facade improvement program and is currently developing The Roosevelt, a $14.5 million, 42-unit apartment building on Franklin Avenue. But city records show that Horton has failed to pay taxes on two of his city properties, including at 434 Franklin Ave., since July 2011. He owes $52,201.84 in school, city and county taxes on that property, and another $55,495.72 on the East Third Street property, records show. Horton and QFI Inc., one of his companies, also are named in a lawsuit filed in 2012 by American Express, which alleges that Horton and the company owe nearly $8,800 on a Platinum Card account. In 2011, JPMorgan Chase filed a complaint alleging that Horton and QFI failed to keep up payments on a $45,000 revolving line of credit. Both cases are pending. Horton said he is fighting the cases and noted the disputes stem largely from the fact that QFI is now defunct. Horton is a longtime associate of Mount Vernon Mayor Ernie Davis, an architect by trade, and has been involved in several projects during Davis' tenure at City Hall. Davis is facing up to two years in federal prison when he is sentenced this month on his guilty plea to misdemeanor tax evasion charges. He had been under federal scrutiny for the past seven years. Twitter: @jfitzgibbon

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    Mount Vernon Developer O... CK Taxes Dating To 2011

    Uploaded by

    Samuel L. Rivers
    Mount Vernon developer owes $107K in back taxes Jorge Fitz-Gibbon, jfitzgib@lohud.com 8:15 p.m. EST January 5, 2015 MOUNT VERNON – A local developer who was tapped by city officials to lead the revitalization of the long-troubled Third Street corridor may need to get his own affairs in order — by paying his taxes. Terrence Horton owes more than $107,000 in city, school and Westchester County taxes for two Mount Vernon properties including 12 E. Third St., part of the stretch of the city's south side that he is charged with rehabilitating. "We are aware of the taxes," Horton said Monday. "Sometimes it's a heavy lift doing these big projects. We don't believe it's an oversight but we are handling it. We've already been in discussions, and that matter will be resolved very shortly now." Both delinquent properties are slated for future development, he said, "so you pay it off at one time with everything else. Every developer does it the exact same way." Horton, 56, is a former Mount Vernon public works commissioner and is the brother of Steven Horton, a former Mount Vernon councilman and executive director of the New Rochelle Municipal Housing Authority. He is CEO of Sentinel Construction Inc. and other local development companies including MLK 3rd & 3rd, which is spearheading the Third Street initiative. Plans include at least two high-rises along the corridor, which has been the focus of ambitious rehabilitation proposals for decades. Horton has been involved in numerous projects in the city and earlier initiatives on Third Street. He renovated 10 buildings in the corridor under a 1999 facade improvement program and is currently developing The Roosevelt, a $14.5 million, 42-unit apartment building on Franklin Avenue. But city records show that Horton has failed to pay taxes on two of his city properties, including at 434 Franklin Ave., since July 2011. He owes $52,201.84 in school, city and county taxes on that property, and another $55,495.72 on the East Third Street property, records show. Horton and QFI Inc., one of his companies, also are named in a lawsuit filed in 2012 by American Express, which alleges that Horton and the company owe nearly $8,800 on a Platinum Card account. In 2011, JPMorgan Chase filed a complaint alleging that Horton and QFI failed to keep up payments on a $45,000 revolving line of credit. Both cases are pending. Horton said he is fighting the cases and noted the disputes stem largely from the fact that QFI is now defunct. Horton is a longtime associate of Mount Vernon Mayor Ernie Davis, an architect by trade, and has been involved in several projects during Davis' tenure at City Hall. Davis is facing up to two years in federal prison when he is sentenced this month on his guilty plea to misdemeanor tax evasion charges. He had been under federal scrutiny for the past seven years. Twitter: @jfitzgibbon

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    Mount Vernon developer owes $107K in back taxes

    Jorge Fitz-Gibbon, jtzgib@lohud.com

    8:15 p.m. EST January 5, 2015

    MOUNTVERNONAlocaldeveloperwhowastappedbycityofficialstoleadtherevitalizationofthelong
    troubledThirdStreetcorridormayneedtogethisownaffairsinorderbypayinghistaxes.
    TerrenceHortonowesmorethan$107,000incity,schoolandWestchesterCountytaxesfortwoMountVernon
    propertiesincluding12E.ThirdSt.,partofthestretchofthecity'ssouthsidethatheischargedwith
    rehabilitating.
    "Weareawareofthetaxes,"HortonsaidMonday."Sometimesit'saheavyliftdoingthesebigprojects.We
    Buy Photo

    don'tbelieveit'sanoversightbutwearehandlingit.We'vealreadybeenindiscussions,andthatmatterwillbe
    resolvedveryshortlynow."

    (Photo:RickyFlores/TheJournal
    News)

    Bothdelinquentpropertiesareslatedforfuturedevelopment,hesaid,"soyoupayitoffatonetimewith
    everythingelse.Everydeveloperdoesittheexactsameway."

    Horton,56,isaformerMountVernonpublicworkscommissionerandisthebrotherofStevenHorton,aformerMountVernoncouncilmanandexecutive
    directoroftheNewRochelleMunicipalHousingAuthority.
    HeisCEOofSentinelConstructionInc.andotherlocaldevelopmentcompaniesincludingMLK3rd&3rd,whichisspearheadingtheThirdStreet
    initiative.Plansincludeatleasttwohighrisesalongthecorridor,whichhasbeenthefocusofambitiousrehabilitationproposalsfordecades.
    HortonhasbeeninvolvedinnumerousprojectsinthecityandearlierinitiativesonThirdStreet.Herenovated10buildingsinthecorridorundera1999
    facadeimprovementprogramandiscurrentlydevelopingTheRoosevelt,a$14.5million,42unitapartmentbuildingonFranklinAvenue.
    ButcityrecordsshowthatHortonhasfailedtopaytaxesontwoofhiscityproperties,includingat434FranklinAve.,sinceJuly2011.Heowes
    $52,201.84inschool,cityandcountytaxesonthatproperty,andanother$55,495.72ontheEastThirdStreetproperty,recordsshow.
    HortonandQFIInc.,oneofhiscompanies,alsoarenamedinalawsuitfiledin2012byAmericanExpress,whichallegesthatHortonandthecompany
    owenearly$8,800onaPlatinumCardaccount.In2011,JPMorganChasefiledacomplaintallegingthatHortonandQFIfailedtokeepuppaymentsona
    $45,000revolvinglineofcredit.
    Bothcasesarepending.HortonsaidheisfightingthecasesandnotedthedisputesstemlargelyfromthefactthatQFIisnowdefunct.
    HortonisalongtimeassociateofMountVernonMayorErnieDavis,anarchitectbytrade,andhasbeeninvolvedinseveralprojectsduringDavis'tenure
    atCityHall.
    Davisisfacinguptotwoyearsinfederalprisonwhenheissentencedthismonthonhisguiltypleatomisdemeanortaxevasioncharges.Hehadbeen
    underfederalscrutinyforthepastsevenyears.
    Twitter:@jfitzgibbon(https://twitter.com/jfitzgibbon)
    ReadorSharethisstory:http://lohud.us/1Bse743

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