iStar 25-year tax abatement through county IDA [Read the LB Herald Story]

Sorry I’m late posting this info. Been kinda busy lately (and I have a lot of emails I still need to reply to!)wayfareriStar 25-year tax abatement through county IDA

I mentioned this was a possibility like a week ago: ISTAR: WILL THEY BE GIVEN ANOTHER EXTENSION? ARE THEY APPLYING FOR THE NASSAU COUNTY IDA PILOT (PAYMENT IN LIEU OF TAXES) PROGRAM?

The Long Beach Herald has the full story: iStar to pay city $4M to mitigate Superblock project’s impact

 

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9 thoughts on “iStar 25-year tax abatement through county IDA [Read the LB Herald Story]”

  1. This is from the complaint filed this morning against Dean and Adam Skelos of the newest Friends & Family Fame

    In reference to title insurance work for refinancing hundreds of millions of dollars of bands realted to a large hospital system which required the approval of the Nassau County IDA, Adam Skelos sent an email to his colleagues stating “with my dad right now calling head of Nassau IDA, We’re going to to try to get half the deal”

    I wonder if they were using their “burner” phone. I wonder who will be on the phone with the IDA when the iStar abatement is being worked on.

  2. The complaint is here: http://www.nytimes.com/interactive/2015/05/04/nyregion/criminal-complaint-against-dean-skelos-and-adam-skelos.html, and can be found other places. All innocent until proven guilty, but the complaint lays out a lot of the Skelos’ own words from tapped calls and emails, which make it hard to believe that they won’t or shouldn’t go down. Makes him seem so small. And this is the Senate Majority Leader, not some two-bit local politician more likely to be flying under the radar…. Ugh.

  3. What should be investigated is why this City Council took a $4 million dollar payout in order to forgo 25 years of taxes from the largest development in City history? Could it be the lawyers for this development are the Dem Leader’s buddies? Aren’t they the firm that Suozzi works for? Arent they mentioned as the law firm that created the LDC for Long Beach? The same LDC that brought the City this development deal? Could this City Council sink any lower? Is it possible that the residents are that oblivious? Here come the bonds!!!!

  4. you may be a bit confused. the $4 million the city got is independent of any IDA deal. and last I checked, Nassau county is run by a republicans, who appoints the IDA board members. you really think Suozzi and zapson have much pull with mangano and his IDA.

  5. Huh?

    The City will NOT get one dime of this 4 million gift until the first Tower is completed with it’s CO.

    Many of the statements the Developers and the pro iStar residents made at public meeting presented during the January ZBA meeting appear to be now untrue. Perhaps with the new knowledge that iStar is seeking not to pay taxes for 25 years the same pro residents may have a change of heart.

    Is it coincidence that outside Counsel presented to the 3 members of the City Council the greatness of this gift the day before iStar goes before Nassau County to request the IDA? Don’t know.

    Do I feel the residents are getting screwed? Yes.

    I’m open to have my opinion changed.

  6. Newsday this morning is reporting that Adam Skelos, whose father made calls to the Nassau County IDA on behalf of Adam’s employer, has previously had internships or jobs at the Long Island Power Authority, Davidoff Malito & Hutcher LLP, Bridgeview Yacht Club in Island Park,

    So let’s see, who do we know ( http://bit.ly/1IMIkPq ) that is employed at Davidoff Malito & Hutcher LLP which is the same company that worked for iStar in Coney Island?

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