Another letter regarding the iStar / IDA Economic Impact Analysis

May 22, 2016

Nassau County Industrial Development Agency
1550 Franklin Ave., Suite 235
Mineola NY 11501

Dear Chairman Kearney and IDA Members,

Thank you for providing the “Camoin Report”, commissioned to express the economic impact of the Wayfarer project. Upon reading the report, I feel that it omitted critical data that will help decide whether or not to grant the 109 Million dollars in tax relief sought by the developer. It only showed the economic impact of two options, developed or not developed, and nothing in-between. Just because the developer forces an all-or-nothing tactic, doesn’t mean they deserve it.

I couldn’t help to notice that requests by the residents are still unanswered. In an effort for transparency, I request that the following be answered prior or during the May 25th hearing.

  • Where is the correlation to the amount requested to the economic impact of the community? How does this report apply to the specific details of “THIS PILOT” as requested?
  • A detailed breakdown of why this parcel deserves or does not deserve the tax break as requested.
  • Can a negotiated compromise be offered?
  • How the award, if granted or denied compares to other Nassau County pilots awarded of similar magnitude in term and money, and if they were part of greater keystone projects?
  • How the application fulfills the requirements of the Standard Pilot Application.
  • A breakdown of how this application fulfills the requirements of the UTEP allowing it to apply for the variance of its length exceeding the standard 10-year term.

Please consider that Long Beach, the community that this project and PILOT will most greatly impact, has already been approached by developers for projects of similar magnitude and is now facing an 8% tax increase from the previous year. Sadly, taxes are continuously going up for residents, but if you grant this financial relief, it won’t go up for this billion dollar company. This project has opened Pandora’s box for variances for overdevelopment and tax breaks. This award will set the stage for the future. Once again, thank you for your consideration in this and look forward to your replies.

Sincerely,

Sam J. Pinto
Concerned Resident
President of Eastholme Civic Association

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