Regan Development Corp.
 DRAFT PILOT
206 Smith Street
Freeport, New York 11520
Current Tax Information: 
Section; 62, Block: 114, Lots: (18, 19, 20)
Parcels: 1
SD- Freeport 9
Current Total Taxes Year: Currently Tax Exempt
Current Total Taxes If It Were Not Tax Exempt: $38,699.56
Estimated Taxes Once Built: $112,256.00 

•	Based upon Shelter Rent Formula used for Affordable/Workforce Housing Developments
•	10% of (Rental Income less Utility Costs)

Year					Total
1	          $40,296.00
2	          $41,070.00
3	          $41,859.00
4	          $42,663.00
5	          $43,482.00
6	          $44,316.00
7	          $45,166.00
8	          $46,032.00
9	          $46,914.00
10	          $47,813.00
11	          $48,728.00
12	          $49,660.00
13	          $50,610.00
14	          $51,577.00
15	          $52,563.00
16	          $53,567.00
17	          $54,589.00
18	          $55,630.00
19	          $56,691.00
20	          $57,771.00 – 10 Year Extension if Within Compliance
21	          $58,872.00
22	          $59,992.00
23	          $61,134.00
24	          $62,296.00
25	          $63,480.00
26	          $64,686.00
27	          $65,914.00
28	          $67,164.00
29	          $68,438.00
30	          $69,735.00

8/31/21 – DRAFT

This Pilot has NOT been approved by the Hempstead IDA Board