The Nassau County Industrial Development Agency held a hearing on Monday, Dec. 15, to consider whether developers will receive financial assistance in the form of tax exemptions for a proposed 18-unit apartment building at 157-161 Jericho Turnpike in Mineola.
The proposal, filed by Mineola Compass LLC, calls for two workforce housing units, meaning residents will need to make a specified percentage of the area’s median income.
The applicant has applied for tax exemptions from real property taxes, sales/use taxes, and mortgage recording tax. Exemptions for mortgage recording tax are not to exceed $52,000, and those for sales/use tax are not to exceed $269,100, according to the county IDA.
Mineola Compass LLC also applied for a 15-year payment-in-lieu-of-taxes agreement.
“Any written comments may be sent to the Nassau County Industrial Development Agency,” said IDA CEO/Executive Director Sheldon Shrenkel, “or via email at info@nassauida.org.”
No members of the public attended the meeting to provide comment. The IDA will come to a decision regarding financial assistance in the coming weeks.
