Long Beach meeting tackles tax break for condo development

Posted: Updated:
LONG BEACH -

An informational meeting held Tuesday evening in Long Beach addressed tax breaks for a developer planning a high-rise condominium complex off the city's boardwalk.

As News 12 has reported, the Nassau County Industrial Development Agency last year voted to deny developer iStar Financial's request for a $129 million tax break, and later denied a bid for $109 million in breaks, to build two luxury, oceanfront towers on a piece of property known as "Superblock." The twin 15-story towers would contain 522 units.

City officials say the developer is set to file its third request with the IDA for a tax abatement of $82 million.

Bob Spolzino, the city's special counsel for the project, says that if iStar does not get the tax break, there would likely be a lawsuit filed, resulting in the property sitting vacant for longer.

Leaders representing the construction unions say the sooner they get the property opened and can start building, the better. Richard O'Kane, president of Nassau Suffolk Building Trades, says he believes building the towers will make money for the Long Beach, and he is hoping the IDA gives the developer the tax break for which it is asking.

The Long Beach comptroller estimates that with the tax breaks, they will still see an estimated $21 million in revenue for the city in the first 10 years. Residents like Joanne Rea say they are worried about what impact the project would have on the school district and what the project will do to residents' school tax bills.

Residents eventually wrote down their questions that were answered later in the evening.

News 12 reached out to iStar Financial for comment but did not hear back. The Nassau IDA declined to comment.

  • Top StoriesMore>>

  • Police: Sachem student dies after ‘medical incident’ following band practice

    Police: Sachem student dies after ‘medical incident’ following band practice

    Tuesday, July 17 2018 6:09 PM EDT2018-07-17 22:09:04 GMT
    A 17-year-old Sachem High School North student died Monday after suffering a “medical incident” following a four-hour band practice, police say.A 17-year-old Sachem High School North student died Monday after suffering a “medical incident” following a four-hour band practice, police say.

    A 17-year-old Sachem High School North student died Monday after suffering a “medical incident” following a four-hour band practice, police say.

    A 17-year-old Sachem High School North student died Monday after suffering a “medical incident” following a four-hour band practice, police say.

  • Dean and Adam Skelos found guilty of corruption — again

    Dean and Adam Skelos found guilty of corruption — again

    Tuesday, July 17 2018 10:15 PM EDT2018-07-18 02:15:39 GMT
    Former state Senate Leader Dean Skelos and his son Adam have been found guilty on all counts at their corruption retrial.Former state Senate Leader Dean Skelos and his son Adam have been found guilty on all counts at their corruption retrial.

    In its third day of deliberations, a jury found former state Senate Majority Leader Dean Skelos and his son Adam guilty on all counts in their retrial on federal corruption charges.

    In its third day of deliberations, a jury found former state Senate Majority Leader Dean Skelos and his son Adam guilty on all counts in their retrial on federal corruption charges.

  • Health Dept. finds cancer rates high in Centereach, Farmingville & Selden

    Health Dept. finds cancer rates high in Centereach, Farmingville & Selden

    Tuesday, July 17 2018 10:27 PM EDT2018-07-18 02:27:49 GMT
    The state Health Department is addressing the cancer concerns among people in three Suffolk communities during a public meeting Tuesday night in Stony Brook.The state Health Department is addressing the cancer concerns among people in three Suffolk communities during a public meeting Tuesday night in Stony Brook.

    The state Health Department met with Suffolk officials and residents in Stony Brook Tuesday night over concerns of high rates of cancer in three nearby communities.

    The state Health Department met with Suffolk officials and residents in Stony Brook Tuesday night over concerns of high rates of cancer in three nearby communities.

  • SlideshowsSlideshowsMore>>

  • Just Married on Long Island

    Just Married on Long Island

    News 12 Long Island wants to announce your wedding. Share your pictures and videos with News 12 Long Island viewers!

    News 12 Long Island wants to announce your wedding. Share your pictures and videos with News 12 Long Island viewers!

  • Trump and Putin hold summit in Helsinki

    Trump and Putin hold summit in Helsinki

    (Photo by Chris McGrath/Getty Images)(Photo by Chris McGrath/Getty Images)

    Sights and scenes at President Donald Trump's summit with Russian President Vladimir V. Putin in Helsinki, Finland, on Monday, July 16, 2018. Images via Getty.

    Sights and scenes at President Donald Trump's summit with Russian President Vladimir V. Putin in Helsinki, Finland, on Monday, July 16, 2018. Images via Getty.

  • Surf Lodge in Montauk summer lineup

    Surf Lodge in Montauk summer lineup

    Various bands will perform at the Surf Lodge this summer.

    Visit the Surf Lodge website for more information.

    Various bands will perform at the Surf Lodge this summer.

    Visit the Surf Lodge website for more information.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."