Developer: $128M in tax breaks needed for apartment project
Two proposed apartment buildings in Long Beach cannot move forward unless the plan is granted more than $128 million in tax breaks, according to the developer of the Superblock project. The issue was
News 12 Staff
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Jun 4, 2015, 6:34 AM
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Updated 3,248 days ago
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Two proposed apartment buildings in Long Beach cannot move forward unless the plan is granted more than $128 million in tax breaks, according to the developer of the Superblock project.
The issue was debated during a public hearing in Long Beach Wednesday night.
IStar Financial and Avalon Bay Communities want to build rental apartments on the now-vacant lot.
Former Sen. Al D'Amato encouraged the community to shut down the project completely.
"I'm not against building, but for God's sake, don't take it out on the people. What the hell is wrong with you?" he said during the heated meeting.
Several union workers gave their take on the $273 million project.
"I'd like to see union labor used and a [project labor agreement] signed before anything else is done," said one worker.
That PLA would ensure that the 2,200 jobs created by the project would go to local workers. They would build 522 apartments in two, 15-story buildings on top of retail shops and parking.
If Nassau's Industrial Development Agency grants the tax breaks, the amount would be subject to negotiation. The IDA still hasn't decided if it plans to back the project.
