A planned car dealership moving into the old Bast Chevrolet location on Sunrise Highway in Seaford has been granted a 10-year Payment in Lieu of Taxes (PILOT) agreement by the Hempstead Industrial Development Agency (IDA).
Under the agreement approved last month by the Hempstead IDA, Massapequa Nissan will have a tax freeze at the current level that Bast Chevrolet was paying for the next three years of $181,000. The car dealership will then gradually contribute more taxes for following seven years ending up at $222,000 in the 10th year, according to the IDA agreement. After the 10-year PILOT expires, Massapequa Nissan will pay full property taxes.
Hempstead IDA chairman Fred Parola said the town agency always makes an effort to balance the needs of having productive uses of properties while still making sure municipalities like school, library and fire districts don't get hurt.
"We try to balance so we don't hurt the local jurisdictions too much but yet provide an incentive, said Parola, a lifelong Wantagh resident who was formerly Nassau County Comptroller.
The Town of Hempstead IDA is a non-profit, public benefit agency with the power to help qualified local businesses and not-for-profit organizations relocate, expand and build within the township with a variety of financial options. Hempstead officials expect Massapequa Nissan’s new Seaford dealership to create 25 new jobs by the second year at the new location.
Seaford Superintendent of Schools Brian Conboy said he hopes Massapequa Nissan will have great success at its new location so that it can be a stable tax contributor for the district in the long term.
Massapequa Nissan owner John Staluppi recently purchased the 2.33- acre parcel on 3660 Sunrise Hwy. and construction is currently taking place on the Seaford property to create a 49,250 square-foot collection of buildings that will be the new home of the car dealership. The planned renovation includes modifications and upgrades to the interior finished and building facade and repairs to the building's mechanical, electrical and plumbing systems.