More on iStar – Newsday editorial

“When a business gets breaks from the local Industrial Development Agency, it doesn’t cost the school district or municipality revenue. Their total taxes collected stay the same. The losers are other taxpayers, who could see their tax rates and bills go down if a new business or development kicked into the pot rather than get a big abatement. [LINK]

Read the full editorial at Newsday: In Long Beach, a tax break. But for whom?

5 Replies to “More on iStar – Newsday editorial”

  1. Newsday is such a shill for the developers and the administration. the developer can make all the claims in the world. 2250 jobs? really? 450 permanent ones? Really? And for Newsday’s information, the residents DO SUFFER. Why? because this is pitched as an unrealistic rental development which the City really doesn’t need. Rentals will not provide the property tax boost that a well thought out development would bring. No mention of planning in the piece either. Does the average taxpayer have to continue being treated as if we are stupid? Even a third rate publication like Newsday should be doing just a little bit of research to see what a crappy deal this is for LB.

  2. Increase students in the public schools, don’t worry the current taxpayers will cover that…Increase Sewage usage, don’t worry current taxpayers will pay for that, increase to sanitation, don’t worry, current taxpayers will pay for that too, ANYTHING ELSE YOU WANT THE CURRENT TAXPAYERS TO PAY FOR?
    And the argument that stores will make more money, I think is flimsy considering that their taxes are going to increase as well to cover this tax abatement….

  3. Construction jobs will probably average 150 to 350 total workers per day for about a year and a half maybe two. Those workers will range from concrete workers to roofers, some for several months, some for a few days, but never more than that 300 per day. They will most likely be from out of town where their employer’s/contractors are from – maybe a handful of local workers. They will be non-union, many low skilled, low pay. The manager will probably employ about two dozen workers, mostly low salary workers/cleaners – many of these would probably be local.

Comments are closed.