iStar: Will they be given another extension? Are they applying for the Nassau County IDA PILOT (payment in lieu of taxes) program?

The Zoning Board Calendar is all set for April 23th with no iStar on the agenda. That doesn’t mean they won’t get another six month extension. If and when they do, it’s done in a backroom and under a table, as we all learned this city code last November:

“Sec 20–15 Petitions and applications to the board
Every petition and application to the zoning board of appeals except renewal petitions and applications there under… [etc etc] [LINK]

If you really want more, please read my last post on all this here: [UPDATED WITH CODE AND A PERSONAL RANT] ISTAR VARIANCE EXTENSION IS IN 11/20/14 ZBA MINUTES, BUT WASN’T ON CALENDAR OR DECISIONS

Meanwhile, behind the facade of this innocent-looking bookstore

Project 11561 is wondering if iStar Long Beach applied for the PILOT (payment in lieu of taxes) program through the Nassau County IDA:  As written on the upcoming council agenda ….

“WHEREAS, the Host Community Agreement Guaranty shall constitute a permitted encumbrance under any PILOT (payment-in-lieu-of-taxes) that may be awarded to iStar FM Loans LLC and Shore Road-Long Beach Superblock LLC, in its sole discretion, by the Nassau County Industrial Development Agency (NCIDA.” [LINK]

A PILOT is a payment in lieu of taxes (also sometimes abbreviated “PILT”), made to compensate a local government for some or all of thetax revenue that it loses because of the nature of the ownership or use of a particular piece of real property. Usually it relates to the foregone property tax revenue.

23 Replies to “iStar: Will they be given another extension? Are they applying for the Nassau County IDA PILOT (payment in lieu of taxes) program?”

  1. I thought PILOTs were for tax exempt property (church, colleges, etc.) and where the government owns the land and a private facility builds (MTA, NFL stadiums, etc.). I thought that property was privately owned.

  2. You folks just don’t get it do you? This is partly SECTION 8 WELFARE HOUSING. It’s called “Workforce Housing” by the Democrats, but it’s just one more way of making you buy votes from their non-working constituency.

    The portion of the complex that is filled with the non-working garbage is exempt from taxes. Naturally paying tenants won’t pay to live with the free-loaders, so the place soon becomes simply a public housing project with granite countertops.

    Want an example? Check out Far Rockaway’s luxury Metroplex on the ocean at Beach 26th Street. Just drive by. Nowhere are the veterans, single moms and elderly the Democrats like to illustrate as their Section 8 cases. Just drug dealers, gang bangers and criminal mutants. Graffitti, trash and crime.

    So wake up folks! The only reason to discuss PILOT Payments is welfare and Section 8. Those big property owners and those in the know are running from Long Beach in droves.

    Drive to Far Rockaway, check out the Metroplex and see what the City Council has in store for you. And don’t even bother responding or rebutting until you do look for yourself.

  3. Did the same thing happen with I-Star Brooklyn and Asbury Park? I attempted to look up some current info. I hope this piece of crap never gets built. It will be the end of LB for a multitude of reasons.

  4. @just the truth…
    I’m not saying your wrong, but why is that the only way this ends? Why was HUD successful in parts of Manhattan, Brooklyn and Harlem, and a glorious failure in Far Rockaway?

  5. God that some of us are looking closely at this. The really good stuff here is the way the Long Beach City Council displays an amazing ability to expose themselves as the dumbest bunch ever. Yay yay yay. This si a great deal for us. Do they tell anybody that the Pilot program will excuse iStar from property taxes for 20-25 years!!!!!!????? Do they even know that this is part of the deal? Will the City manager advise the local people of this? Why does this administration continually saddle this City with the worst deals ever? We know that their leader is getting rich on us, but is there a limit to how much the City Council will allow their neighbors to endure? They should really be ashamed of themselves and their choices.

  6. Would there be any benefit in petitioning the Nassau IDA to reject the application? Clearly our city leaders are more concerned about pleasing Zapson than protecting the citizens interests or the project would never have gotten this far.

  7. C Peck, at last night’s City Council meeting Denise Ford and the Council each confirmed that the PILOT application process includes a public forum. This should enable you and others to voice your comments on this application.

  8. And once this “section8 by the sea” project gets into full swing – those “million dollar condos” next door won’t be selling for a million dollars anymore. Once this iStar project was revealed to be a rental property and not a condo, you knew immediately what the plan was, confirmed for sure by this PILOT plan. There is no way the demographics of LB can support actual market rents of $30K+ a year for that many apartments. So why would the developers build so many? Just The Facts lays it all out. Mixed rental housing is a fantasy – no one is going to pay $30K a year of their own money in rent to live in a complex with section8 tenants down the hall, the paying tenants soon see what is going on and simply move, and the landlord backfills those empty apartments with more government subsidized tenants until eventually its a 100% housing project. That’s exactly how the Rockaways evolved.

  9. @sam – people are already paying $30K+ at Avalon, so the markets there. Also, it’s common for luxury condos/coops/etc. to accept section 8 vouchers for financial gain and tax breaks – it’s all over NYC from the West Village to Williamsburg.

  10. This all leads back to Zap$on people! This administration is terrible and the lawyer (past and present) representing the city is worse!

  11. I am in agreement with the others that are stating that section 8 exists in NYC and other locations and happen to VERY SUCCESSFUL.
    A prime example are the MANHATTAN PLAZA buildings on 43rd street /9TH Avenue in NYC.
    They have HUD, however they have renters that pay FULL market price .
    The buildings are beautiful.
    Check them out on line…..

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