IDA Gives First OK For Tax Breaks For Apartments At Site Of Sandy-Destroyed Restaurants

The Town of Hempstead Industrial Development Agency (IDA) has given tentative approval to an Island Park developer to receive tax breaks to build apartments on the waterfront.

Newsday reports that the IDA voted unanimously to approve a sales tax exemption, a mortgage-recording tax abatement and a 10-year PILOT for Waterview Land Development LLC. The final amount of the PILOT hasn't been finalized.

The approval is still just tentative -- the IDA has to schedule a public hearing on the matter.

The proposal by Waterview Land Develepment, owned by Island Park businessman John Vitale, is to build 26 one-bedroom and 60 two-bedroom apartments at the site of Paddy McGee's and Coyote Grill. The two locations are restaurants that Vitale owns that received heavy damage during Hurricane Sandy and never reopened.

For more, read the story at Newsday.

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