OPERATIONS AND ACCOMPLISHMENTS
TOWN OF HEMPSTEAD INDUSTRIAL DEVELOPMENT AGENCY
2013

The Town of Hempstead IDA closed on nine projects during 2013 providing benefits with  combined project costs of $242 million.  More than 458 full-time jobs (185 part time) were created with an additional 246 full-time (39 part time) employment positions retained.

An important and significant property at 711 Stewart Avenue, Garden City was developed through the creation of three condominium projects.  Each of the subject units are privately owned with a common area in which the participating proprietary businesses share ownership.  The overall buildings comprise 335,000 square feet.  

Unite 1 is a 126,656 square foot building, which is home to BJ’s retail shopping. Projects costs were $45.5 million.  Two hundred and fifty (250) full time employment positions were retained.

Unit 2 consists of a 116, 167 square foot office building.  The $19,878,000 project retained 50 full-time (5 part time jobs) and by the second year expects to add 210 full-time (15 part-time) positions.

Unit 3 consists of an LA Fitness facility of 55,000 square feet.  The $20,700,000 project creates forty (40) full-time positions.

	Three assisted living facilities that currently received IDA benefits were purchased back by the original developers from CSH, the largest assisted living corporation in Canada.

	40 Merrick Avenue, East Meadow (HSRE-EB East Meadow LLC) is a 104,160 square foot facility that was purchased for $49 million.  Sixty-nine (69) full time (6 part-time) jobs were retained.  The assisted living facility at 477 Hungry Harbor Road, Woodmere (HRRE-EB North Woodmere LLC) provides services in a 103,386 square foot building.  The $42 million acquisition retained 59 full-time (12 part-time) positions and adds one.	The third facility comprising 90,388 square feet at 8 Freer Street, Lynbrook retained sixty-six (66) jobs (6 part-time) with a $28 million project cost.

	Economic vitality in our township was reflected in two additional projects that received IDA benefits as well. 

	Arrow Linen Supply Company, Inc., a commercial laundry business, expanded its 72,000 square foot operation at 615 South Street, Garden City.  The $19,564 million project adds 140 full-time jobs (140 part time)

	Zwanger Pesiri received benefits to construct a facility at 3234 Hempstead Turnpike in Levittown.  The 8,000 square foot building with a total project cost of $15 million will create thirty (30) full-time positions serving 150 to 175 patients per day.

	The business environment remains less than robust with economic factors weighing against bold initiatives by the business community.  To compensate for this poor climate, the IDA, through its website, and advertising initiatives aggressively markets the benefits provided to qualifying developments.  Bloomberg News, which focuses its programming to the business community, is a strong partner with the IDA to spread our message.

	The Town of Hempstead IDA currently provides benefits to 77 projects and to date has created and retained over 14,000 permanent employment positions and thousands of part-time jobs as well as many thousands of construction jobs benefiting the regional economy.

3/27/14
Resolution : 019-2014