Tag Archives: istar

Hey attorneys for iStar: You are assholes and your client lied to the people of Long Beach. Liar liar pants on fire. [OPINION]

Isn’t freedom of speech wonderful?  Hey, check this out:

“Council President Len Torres told the Herald last October that he was disappointed with iStar for originally claiming it had the money to fund the project, and then seeking a large tax break.” [link]

Yeah, no shit. Representatives from iStar told tons of Long Beach residents at their little 2014 party at [I think it was Sutton Place] how they had the money and the project was shovel ready. This company is such a liar liar pants on fire. They totally lied to us and now they want us to foot the bill, whether it’s in the form of taxes or a lawsuit. What a greedy fucking company.

I’m so tired of all this. I am tired of this company. I am tired of Long Beach residents footing the bill for everything. I am tired of Long Beach, in general, on social media.

The people of Long Beach and the People of Nassau County should sue iStar.  Oh yeah, read this article: iStar pushing Long Beach to back $82M tax break

iStar profit gravy $$$ and an open letter to our city [editorial, opinions, whatever you want to call it]

iStar originally came to the IDA asking for $129 million dollars. They are now down to  $82 million.  As the Newsday editorial [image below] and many have pointed out, what was that $47 million dollars, gravy? How can the City Council be legally beholden to an agreement when the people they agreed with are so obviously trying to game the system. It is impossible to demand that the City Council follow through with that agreement given the way that is has been handled by iStar where they have blatantly shown that all they are after is more profit.

(In the words of Larry David) Having said that….

TO: ltorres@longbeachny.govaeramo@longbeachny.govcdiamond@longbeachny.govsmandel@longbeachny.govamoore@longbeachny.govcitymanager@longbeachny.gov

RE: iStar letter and potential lawsuit

Attention City Council and City Manager: 

It’s time for you to do the right thing. A $105 million dollar lawsuit that we potentially face due do your negligence is something you can clear up by sending the letter that iStar requires, telling them that you gave them permission to go to the IDA. After you do this, us residents will try to clean up your mess.

 

Long Beach Herald: iStar may seek $87 tax break and may sue City if they don’t get it. [WTF? OPINIONS]

Anthony Rifilato of the Long Beach Herald writes:

“Nassau County Legislator Denise Ford says that the developer looking to build luxury apartments on the Superblock will make a third attempt to secure a tax abatement to move forward with the project — and may sue the city if it is denied again.

Full article: Ford: iStar may seek $87 million tax break

Many moons ago [2014], iStar came in with this project. THEY SAID THEY WERE SHOVEL READY and our city gave them approval to build. There was not one mention of IDA when this all happened.

Shovel ready was complete BS, because they came back a year later looking for a major tax break, that would, in my opinion, ultimately hurt all the residents of Long Beach.

What would be the basis for a lawsuit? The City of Long Beach gave them permission, then kept their mouths shut. We were begging our officials to talk and they wouldn’t. It was the will of the people who were against the IDA, because we don’t want to pay for luxury beachfront units that are on ultra-rare property that’s a hop, skip and jump away from Manhattan.

an oldie, but goodie.

The Long Beach public forum on this topic is  May 9, at 6:30 p.m at City Hall.

iStar Wars: Episode III – Revenge of the “We don’t want to pay our fair share of taxes”

It’s real folks. According to our City, iStar is actually going to give it another shot for a tax break. They say third time is a charm, but I’m sorry, iStar. This just cannot happen. You can send your people to clog up city hall, but the residents of Long Beach have already spoken. We will speak again (assuming there’s some sort of meeting, which I hope there will be.)   Continue reading iStar Wars: Episode III – Revenge of the “We don’t want to pay our fair share of taxes”

“The City has learned that iStar Financial, owners and developers of the Superblock, will soon submit a third and final application for tax abatements to the Nassau County IDA”

I’ll post some personal feelings on this in a bit.  From the City of Long Beach:

The City has learned that iStar Financial, owners and developers of the Superblock, will soon submit a third and final application for tax abatements to the Nassau County IDA, which has the exclusive authority to grant or deny the application. It is unclear whether the IDA needs to hold a public meeting in connection with this new application.

Therefore, the City feels it is imperative that the residents be provided with the details of this application, and an analysis of its short-term and long-range effects on the City. Residents will also have an opportunity to ask questions regarding this topic of critical concern to the community.

Now what? Perhaps iStar should sell the superblock property. [opinion]

The Superblock, July 2016
The Superblock, July 2016

Sorry, Unions. You’ve been duped. This tax-war had nothing to do with you. iStar pitted you against residents in the name of jobs. The real battle was taxpayers vs. shareholders of a multi-million dollar company.  

When iStar first showed us the project, they said they just needed a few more stories over zoning to build. They said the project was shovel ready. Then they came back many months later with this IDA/Tax Abatement crap. They asked for way too much. Their reasoning was ‘oh, now we can’t build unless we get a tax abatement.’ But we already gave you the extra height. You did say it was shovel ready.

The Long Beach Superblock is one of the most desirable pieces of property in the greater NY area. Where else can you find a large piece of waterfront property that is right on a beach, boardwalk and walking distance to the train and local amenities? For those unfamiliar with the superblock area, I will show you why this property is so valuable: valuablesuperblock

So now what? Did we call iStar’s bluff? If they can’t build like they claim, then perhaps it’s time to put the prperty up for sale. This is where things get interesting.

What’s on the IDA agenda? Hmm.. oh, look: VI -Superblock SEQRA Resolution

Today we find out whether or not we experience corporate welfare  in Long Beach for the next 20 years. That’s right, tax breaks for waterfront luxury apartments while all the homeowners in Long Beach suffer massive tax increases as they rebuild their homes. How F***ed up is that? Only an idiot would vote YES for this. 

IDA PUBLIC MEETING
JULY 28th @5pm 
1550 Franklin Avenue
Mineola, NY 11501

 

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I was asked to share this letter that was sent to iStar / Long Beach Wayfarer, LLC

I was asked to share the following letter to iStar:

Good Afternoon,

As a lifetime Long Beach resident, I want to let iStar know that you’re marketing the Wayfarer project to the City of Long Beach, and it’s residents, in a totally misguided manner. I have a background in structured commercial mortgage credit and currently work at redacted, so I’m pretty knowledgeable on commercial real estate and finance in general. Continue reading I was asked to share this letter that was sent to iStar / Long Beach Wayfarer, LLC