An application to the Nassau County Industrial Development Agency seeking a decade of tax breaks for a Mineola apartment complex has been pulled, according to village officials.
Lalezarian Properties, owners of the Morgan Parc apartment building on 2nd Street and Mineola Boulevard, wanted to extend tax abatements on the property in return for increasing affordable housing units.
In 2015, the Lake Success-based developers received 20 years of economic assistance from the IDA, before the project was completed in 2019. In the first two years of operation, Lalezarian has saved $439,200 via tax exemptions.
Under the agreement, the approximately 311,500-square-foot building was set to designate 10 percent of the 266 residential rental units as affordable housing, or 27 units. According to Newsday, the developers wanted to increase the affordable housing units to 40.
The proposal drew concern from resident Andy Ward, who said at the Mineola Board of Trustees meeting last Wednesday the village has provided enough assistance to the project.
“The village was pretty gracious in allowing quick relief to build that building and allow them other concessions,” Ward said during the public comment portion of the meeting. “The village board granted them the opportunity to go to the IDA and originally seek assistance.”
Ward made the point that two years after such assistance began, an extension would burden taxpayers, to which Mayor Scott Strauss agreed.
“We don’t have the ability to just lower taxes because there’s a county agency willing to give us time and money for our taxes,” Ward said.
Mineola Village Attorney John Gibbons told Ward that the village shared his concerns and spoke with the owners of Morgan Parc.
“We had extensive talks with the developer regarding their application,” Gibbons said. “Last Friday, they withdrew it from the IDA; they will not be getting an extension.”