Hempstead IDA revokes Green Acres Mall tax break

VALLEY STREAM -

The Hempstead Industrial Development Agency revoked a tax break Thursday for the Green Acres Mall. 

Gloria Slawin, a retired teacher who has lived in Valley Stream for more than 50 years, says the payment in lieu of taxes, or PILOT, was a slap in the face to residents who suddenly saw their school taxes skyrocketing. 

"I think they thought we would go like dominoes," says Slawin. 

Some of the residents News 12 spoke with said their 2016 taxes went up to almost 12 percent as a result of the mall tax break.  

The Hempstead IDA told residents it wasn't the tax hike that led them to rescind the deal, but instead the mall's failure to create hundreds of promised jobs. 

The California-based company that owns the mall disagreed and issued a statement saying, "The Green Acres Mall has already created hundreds of union construction jobs. We have no choice but to consider all legal options."

Questions still loom over whether residents will get any tax money returned. IDA officials say if a lawsuit is filed, the battle could go on for years.

Due to the controversy caused by the tax breaks, the IDA and the Valley Stream School District 30 are being audited by the state and the Nassau County comptrollers' offices.
 

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