Application for IDA Financial Assistance for the Wayfarer Superblock. 174 pages. Enjoy!

The Application for IDA Financial Assistance. PLEASE VIEW THE WHOLE DOCUMENT HERE: Long-Beach-Wayfarer-LLC-Shore-Road-2015.pdf. Just some light reading before the big June 3rd event:

Public Hearing
June 3, 2015
6:00pm
Long Beach City Hall

The PDF file is 174 pages long, so I’m sorry in advance if you’re having a hard time viewing it. I recommend using a computer over a phone/tablet. If you’re a speed reader and/or plan on browsing through the document, please share with us what you find! Below are a bunch of screen shots which sort of explain why they are seeking the financial assistance.

(Is there a typo in this chart with No PILOT and PILOT?)Screen Shot 2015-05-30 at 4.30.52 PM

Long Beach Wayfarer LLC Shore Road 2015Reasons why [all taken out of context]:

1 Screen Shot 2015-05-30 at 4.09.09 PM

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Screen Shot 2015-05-30 at 4.19.22 PM Screen Shot 2015-05-30 at 4.28.30 PM

 

And here is a comparison of past superblock proposals: Screen Shot 2015-05-30 at 4.15.38 PM

 

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17 thoughts on “Application for IDA Financial Assistance for the Wayfarer Superblock. 174 pages. Enjoy!”

  1. Denise Ford supports this PILOT and she supports this project. She will never say otherwise. If it goes through its because she wants it. The Nassau County IDA answers to her and the Republicans. She’s trying to create a forum to help the local republicans out by blaming the Dem council but the truth is cleat to those in the know.

    Ask Denise to put it in writing that she’s against it, and she never will.

  2. IDA, and our politicians supports this to push for a union labor agreement (and union votes) for the construction. Of course the developer is OK with that since the IDA tax abatement will save them the extra for union wages and then some. Who pays for it then? The taxpayer.

  3. It’s amazing. Is it me or does it take a lot of nerve to say “I can only make this work if I don’t pay taxes?” That’s the cost of business! A lot of people would benefit if they didn’t have to pay taxes.

    But this is going to put further strain resources of LB. An extra 1,000 garbage bags a week, 52,000 a year – it’s going to need to be picked up and processed!

    Water.

    Electric.

    500 new cars on the road. Not to mention their guests.

    If their not paying for it, why should residents need to see increases in their taxes to subsidize the project?

    The idea that this will attract young families, seniors and young professionals seems unlikely to me for a few reasons. The three groups have nothing in common.

  4. Thank you democraps.

    Hope Long Beach goes Bankrupt – then at least bloated public union contracts get reset.

  5. Slightly off topic, but Richard Boodman had a great letter to the editor of The Long Beach Herald concerning the iStar IDA request, but oddly it is now, nowhere to be found on their website… Maybe I am wrong but I could not find it…

  6. The chart you posted with the columns “No Pilot” “Pilot”, should have an additional column showing what the project would pay in taxes if built with the 525 units and paying their full fair-share of taxes over the 25 years. What is so strange is the folks now touting a full tax giveaway for 25 years to two corporations, that claim in the application to be incredibly well capitalized are the same folks screaming about “corporate welfare” on the national scene… so strange….. maybe “Hillary” could weigh in where she stands.

  7. @ltc I’m guessing you’re referring to Hillary Clinton (not sure why Hillary is in “quotes”) – anyway, I doubt she’ll be chiming in on local Long Beach politics…

  8. Ok I personally saw Denise Ford distributing leaflets against the PILOT in the West End on Saturday. Leaflet doesn’t have her name on it so she clearly is against this but apparently can’t be publicly against this. gotta love the politics at play here!

  9. Democratic candidate for Nassau County Legislator in Long Beach, Keith Lebowitz said the following on May 18, 2015 on the LB Republicans Facebook Page:

    “Any tax break for this or any developer, is a burden on every home owner in Long Beach. Any finance deal that includes any such stipulation should be brought to a public referendum. Anything else is monkey business !”

    Why have we not seen Denise Ford make a statement like this?

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