Hempstead Town Notebook: Lighthouse Project Remembered, Mortgage Interest Tax Deduction

Lighthouse Project Remembered Amidst Referendum Failure

After the referendum to build a new arena for the Islanders was defeated by voters Monday, the blame game began and many politicians and residents looked at the Town of Hempstead for essentially nixing the formally proposed Lighthouse Project, which was set to be privately financed.

The Lighthouse Project was originally proposed by Islanders owner Charles Wang in 2003. The massive proposal allotted for a five-star hotel, convention centers, shopping areas, offices, condos, restaurants and a brand new Nassau Coliseum.

After Wang secured a group of investors to fund the $3.8 billion dollar proposal, scaled down some of the larger portions of the plan and got the county legislature to approve the proposal in 2006, the Town of Hempstead and its zoning board failed to approve it -- several times.

During several zoning meetings, the town continuously asked for the project to be scaled down, citing the "size, scope and character" of the development proposal as potential problems. The town said it was also concerned about the "impact on the local infrastructure, area schools, traffic, surrounding businesses and residences."

“The Lighthouse project, while not perfect, provided at least a comprehensive plan, unlike the recent ballot question. It is disappointing that Hempstead Town Supervisor Kate Murray allowed Long Island to lose thousands of jobs," said Gary Port, the Democratic Candidate for Hempstead Town Supervisor. "[The fact that] Murray was unable to bring the Lighthouse Project to a vote, but found time to give herself a pay raise, clearly shows she has lost the right to lead."

"Long Islanders want and deserve better," he added. "We deserve a smart growth, comprehensive plan that will not create a burden to the taxpayer, and help keep Long Island talent where it belongs, on Long Island."

Town Officials Call on Feds to Maintain Mortgage Interest Tax Deduction for Homeowners

The Town of Hempstead is calling on the Long Island congressional delegation and our U.S. senators to maintain a critically important tax break for middle class homeowners.

The tax break -- the mortgage interest tax deduction -- acts as both an incentive for potential homebuyers and relief for current homeowners. As federal lawmakers continue to address the federal government's debt crisis, they are considering a plan that includes an unwarranted elimination or reduction of the mortgage interest tax deduction.

Hempstead Town officials have contacted U.S. Sen. Charles Schumer and Congressman Peter King, R-Seaford, both key representatives in the majority parties of their respective houses. Schumer and King have vowed to fight for the continuation of the Mortgage Interest Tax Deduction.