Huntington Station, NY

Northridge Project Wins Tax Break

HuntingtonNow

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IDA meeting on ZoomScreen capture/IDA

The Suffolk County Industrial Development Agency granted preliminary approval Thursday of a tax break for the Northridge apartment building in Huntington Station.

The agency’s 6-1 vote provides a $760,400 break for 15 years for the 16-unit site at New York Avenue and Northridge Street. 

Member Joshua Slaughter said that he supports the project because of the availability of affordable housing, not because of the handful of jobs it would create. “There are affordable units involved and it’s critical we provide affordable housing on Long Island.”

Brian Beedenbender, who was the lone vote against the project brought by Blue & Gold Holdings, said he did so because of a letter the board received from County Executive Steve Bellone, which prodded the board to act on the project.

“It’s a really close call,” Beedenbender said of the project. “The financials are very close about investors and bankers are willing to support.

“I won’t change my vote if it leaves the chance that it may be thought that I changed it due to pressure and that letter,” he said.

The board said that tax revenue would grow from about $3,600 a year on an empty lot to $85,000 in 15 years.

“That tax revenue will live well beyond the 15-year pilot and bring revitalization, and jobs. On the housing side, the affordable units are well below market rate,” board chairwoman Natalie Wright said. “It’s a flexible housing solution.”

Board member Anthony Giordano, referring to the growth in taxes the project would yield, called the figures "stunning" and said ,"that alone, in my opinion, creates economic development." 

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