The public IDA meeting started 6:30pm. I arrived at City Hall at around 6:35pm. Waited outside for about 45 minutes and finally made my way inside the big room. Sat there until 8:45pm and left. I heard enough [plus I have a family to go home to. plus I got thirsty. plus I had to pee]. I did actually signed up to speak. Perhaps they are calling my name right now?
Anyway, it was a weird night. Two issues were intermingling with each other when they shouldn’t have. This isn’t a union issue. This is a tax issue. Bottom line is this: iStar, a publicly traded company wants to appease their shareholders by maximizing their profits as much as possible. This would be in a form of a 20 year tax abatement, on the backs of Nassau County residents, but more so on Long Beach residents with our separate city and school tax. I mentioned corporate welfare the other day and that became clearer to me tonight. That’s all it is. If they don’t build it, somebody else will come in with a proposal. NYC is booming like crazy. I doubt that property will stay vacant much longer.
One resident said it best: The unions will have these jobs for three years, it will be great for them, then they go on to their next project. Us residents will still be stuck with a giant tax-free building.