THE BRONX - The lease for the Hunts Point Market expires today and many vendors say they are trying to stay in the borough.
The market could remain in the borough with a short-term extension. However, vendors say they need several improvements for the facility before signing a new lease.
Several vendors say they have considered moving to New Jersey, where they may get a brand new refridgeration facility, tax incentives and decreased regulations. Rising travel costs are also a deterrent for vendors coming to the Bronx.
The market brings in about $2 billion per year for the city and employs thousands. Market executives are currently negotiating with the city's economic development corporation and hope to come to a compromise to sign a 30 or 40-year lease.