Apr 25, 2024

Commack housing project gets early Suffolk IDA approval for tax breaks

The public can still weigh in on a Woodbury-based developer getting preliminary approval for $6.5 million in tax breaks over 15 years to build the second phase of a 55-and-older rental community in Commack.

The Suffolk County Industrial Development Agency’s seven-member board approved the tax breaks unanimously on March 28 for Fieldstone at Commack II, a proposed $41 million community with 98 apartments at 1110, 1098 and 1120 Jericho Tpke.

No one from the public spoke Thursday during a required IDA public hearing in Hauppauge before final approval of the project. The public has until Wednesday to submit comments in writing, IDA acting executive director Kelly Murphy said.

The aid package includes a property tax abatement of $4.9 million over 15 years, a $244,000 mortgage recording tax exemption and a $1.392 million sales tax exemption on construction materials and furnishings. The developer would pay $5.8 million in taxes over the course of 15 years. Murphy said the properties currently generate $37,000 in land taxes a year.

The tax break application goes back before the IDA board April 25 for final authorization, Murphy said.

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