Tax breaks trimmed for developer who reduced jobs pledge
Tuesday, May 23, 2023
The developer of a large warehouse in Melville will receive fewer tax breaks because it will create only half the jobs that were promised earlier.
The board of the Suffolk County Industrial Development Agency, in a 5-2 vote on Thursday, reduced the property-tax savings granted to Hartz Mountain Industries Inc. by $774,400.
The New Jersey-based commercial real estate company will now save $2.5 million in property taxes, or about 11% off $24 million over 20 years. The 669,186-square-foot warehouse is located at 235 Pinelawn Rd., which once was home to Newsday's headquarters.