Valley Stream, NY - February 13, 2017 - In response to the New York State Comptroller’s office announcing an audit of the Town of Hempstead Industrial Development Agency’s (“IDA”) Payment In Lieu of Taxes (“PILOT”) agreement for Green Acres Mall in Valley Stream, Senator Kaminsky issued the following statement:
“Last October, Assemblywoman Solages and I called for an audit into the Town of Hempstead IDA’s deal for Green Acres. I applaud the Comptroller for protecting taxpayers with this investigation. The lack of transparency around this agreement has caused unprecedented controversy and public outrage, and getting to the bottom of it should be our top priority.”
“I applaud New York State Comptroller Thomas DiNapoli for conducting an audit of the Green Acres Mall P.I.L.O.T,” stated Assemblywoman Michaelle Solages. “The Town of Hempstead Industrial Development Agency’s minimal communications with the public was unacceptable. The communities affected by this egregious tax increase deserve transparency and accountability. While we await the findings of this audit, I urge residents within the Valley Stream Central High School District to continue calling for a repeal of the Green Acres Mall tax break.”
In an October 2016 letter, Senator Kaminsky and Assemblywoman Solages wrote a letter requesting the NYS Comptroller’s office review the Town of Hempstead IDA’s $79 million PILOT agreement with Macerich for renovation and development of the Green Acres Mall. The lawmakers voiced the concerns of their constituents by pointing out that the IDA was not aware of the financial consequences on all school districts impacted. They also brought up the fact that no residents attended the public hearings held by the IDA, a clear indication that no one knew what the IDA was considering or its consequences.
