Nassau agency votes down tax break for Long Beach developers
The Nassau Industrial Development Agency rejected a builder's request for $109 million in tax breaks to build a luxury condo complex off the Long Beach boardwalk.
The decision came down to a 3-2 vote.
The vote sparked protests from union workers outside the Nassau Legislature chambers. The project would have meant hundreds of jobs.
"We just lost a million man hours of work. A complete insult to the people that live in Long Beach. Many of my members live in Long Beach. They still haven't recovered from Sandy and they need these jobs," says Nassau Suffolk Building Trades President Richard O'Kane.
The five-member IDA board said after careful consideration that more than $100 million in tax breaks wasn't warranted.
As News 12 has reported, developer iStar and contractor E.W. Howell want to build 522 oceanfront apartments and 11,000 square feet of retail space on the property known as Superblock, between Long Beach and Riverside boulevards.
The builders said without the tax breaks, they could not afford to build the oceanfront complex.
Residents who blasted the plan for being too rich for taxpayers applauded the board's decision.
The attorney for the developers was disappointed by the board's decision. He turned down News 12 Long Island's request for comment.