New Hyde Park Herald Courier 6.15.15

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Serving New Hyde Park, North New Hyde Park, Herricks, Garden City Park, Manhasset Hills, North Hills, Floral Park

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Friday, June 5, 2015

vol. 64, no. 23

N E W H Y D E PA R K

ing & Finance Real Esate, Bank ublica itmor p edia / l slate m a blank

ecial tions sp

section

, 2015 • june 5

real esTaTe, PorTUGal BaNKING & FINaNCe day Parade pAGeS 29-44

TowN aPProves TraNsGeNder ProTeCTIoNs pAGe 6

pAGe 10

idA gives big tax breaks, adds few jobs

C A R n i VA L K i d S

Maragos calls for change; Nassau County IDA cites 2013 Sandy aid By B I ll saN aNToNIo Tax breaks on projects approved by the Nassau County Industrial Development Agency were more than 10 times higher per job created than the state’s median level in 2013, a year that saw statewide increases on exemptions awarded to businesses but fewer jobs created, according to a recently issued report from state Comptroller Thomas DiNapoli’s office. Having netted just 1,835 jobs in 2013, the most recent year for which statistics are available, Nassau lagged behind nearby Suffolk (14,080) and Westchester (7,982) counties despite approving more projects (278) and exemptions ($69,165,084) than its downstate peers, according to the report. Nassau granted $23,611 in exemptions for every job it gained, eclipsing Suffolk ($644) and Westchester ($1,563), according to the report. DiNapoli’s office calculated

the state median at $2,095 per job gained. In addition, Nassau recouped just 37 percent of the exemptions through payment-in-lieu-of-taxes agreements with businesses, less than the 59 percent recovered by Suffolk and the 67 percent Westchester got back. Nassau issued $43,325,571 in net tax exemptions — tax exemptions minus payments in lieu of taxes — greater than the $13,164,205 issued in Suffolk and $25,730,802 in Westchester. “The State Comptroller’s audit demonstrates that the Nassau IDA has badly underperformed the rest of the State and the region,” Nassau County Comptroller George Maragos said in a statement. “The Nassau IDA is costing the county money and jobs. This is unacceptable and immediate change is required.” Maragos said he would call for a restructuring of the county IDA — whose board is appointed by Nassau County Executive Edward Continued on Page 58

PHOTO (C) 2015 MARTHA GORFEIN PHOTOCONCEPTS

Hundreds turned out to enjoy the rides, games and weather at the Herricks Communiy Funds’ spring carnival, its largest fundraiser of the year. See story on page 22.

Water authority approves 8 percent rate increase By Ja m es G a l l o w ay The Water Authority of Western Nassau County on May 26 approved an 8.41 percent rate increase for residential, commercial and fire

department customers to fund the authority’s five-year, $50.2 million plan to replace aging infrastructure and install filtration systems.. According to water authority officials, the average yearly residential charges, based on a

usage of 103,600 gallons per year, would increase from $402 to $436. The yearly charge for the average commercial customer, based on a usage of 461,700 gallons per year, would increase from $1,638 to Continued on Page 59

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