Public hearing on financial assistance for Pine Town Homes renovation project.

 Legal Notice # 21928000 NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that a public hearing pursuant to Section 859-a of the General Municipal Law, as amended, will be held by the Nassau County Industrial Development Agency (the "Agency") on the 10th day of March, 2026, at 10:30 a.m., local time, at Community Hall/Council Chamber, 1 West Chester Street, City of Long Beach, Nassau County, New York, with respect to the following project: PINE TOWN HOMES, L.P., a limited partnership organized and existing under the laws of the State of New York (the "Applicant"), previously submitted an application for financial assistance (the "Original Application") to the Agency requesting that the Agency consider undertaking a project (the "Original Project") consisting of the following: (A)(1) the acquisition of an interest in an approximately 3.6 acre parcel of land located at 151B East Pine Street, City of Long Beach, County of Nassau, New York (the "Land"), (2) the renovation of eight (8) existing two-story multifamily housing structures (comprised of approximately 130 low-income housing units) with a collective gross residential square footage of approximately 125,000 sq. ft., located on the Land, together with related improvements (collectively, the "Building"), and (3) the acquisition and installation therein and thereon of certain furniture, fixtures, machinery and equipment (the "Original Equipment"), all of the foregoing to continue to constitute a housing complex comprised of approximately 130 low-income housing rental units (collectively, the "Project Facility"); (B) the granting of certain "financial assistance" (within the meaning of Section 854(14) of the General Municipal Law) with respect to the foregoing, including potential exemptions or partial exemptions from sales and use taxes and real property taxes (but not including special assessments and ad valorem levies (the "Original Financial Assistance"); and (C) the lease (with an obligation to purchase), license or sale of the Project Facility to the Applicant or such other entity as may be designated by the Applicant and agreed upon by the Agency. On or about June 29, 2011, the Applicant entered into a "straight lease" transaction with the Agency under the Act pursuant to, inter alia, a certain Lease Agreement, dated as of June 1, 2011, between the Agency and the Applicant (as amended, modified, supplemented and restated, the "Lease Agreement"). Pursuant to an application for financial assistance dated December 3, 2025 (as amended, the "Application"), the Applicant has requested that the Agency consider undertaking a new project at the Project Facility (the "Project") consisting of the following: (A)(1) the interior renovation of the Project Facility consisting primarily of installing new kitchens and bathrooms throughout the Project Facility, and (2) the acquisition of certain furniture, fixtures, machinery, equipment and building materials (the "Equipment") necessary for the completion thereof; and (B) the granting of certain additional "financial assistance" (within the meaning of Section 854(14) of the General Municipal Law) with respect to the foregoing, including potential exemptions or partial exemptions from sales and use taxes and mortgage recording taxes (the "Financial Assistance"). The Project Facility is owned, operated and/or managed by the Applicant or such other entity as designated by the Applicant and agreed upon by the Agency (the Applicant or such other entity, collectively, the "Company"). The Company would receive the Financial Assistance from the Agency in the form of potential exemptions or partial exemptions from sales and use taxes and mortgage recording taxes. A representative of the Agency will at the above-stated time and place hear and accept comments from all persons with views with respect to the Project and/or the granting of the Financial Assistance. Interested parties may present their views both orally and in writing with respect to the Project and/or the granting of the Financial Assistance. Subject to applicable law, copies of the Application, which includes a description of the anticipated costs and benefits of the Project, are available for review by the public during business hours at the offices of the Agency at One West Street, 4th floor, Mineola, New York (from 9:00 a.m. to 5:00 p.m. Monday through Friday). The Application is also posted on the Agency's website at https://nassauida.org/projects-documents, under Applications. The Agency also encourages all interested parties to submit written comments to the Agency (for receipt by the Agency no later than March 12, 2026 at 4:00 p.m.), which will be included within the public hearing record. Any written comments may be sent to Nassau County Industrial Development Agency, One West Street, 4th floor, Mineola, NY 11501, Attn: Administrative Director, and/or via e-mail to info@nassauida.org. The public hearing will be streamed on the Agency's website in real-time and a recording of the public hearing will be posted on the Agency's website, all in accordance with Section 857 of the New York General Municipal Law, as amended. Dated: February 27, 2026 NASSAU COUNTY INDUSTRIAL DEVELOPMENT AGENCY By: Sheldon L. Shrenkel CEO/Executive Director