Public hearing on financial assistance for affordable housing project in Islip.

 Legal Notice # 21931910 NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that a public hearing pursuant to Title 1 of Article 18-A of the New York State General Municipal Law will be held by the Town of Islip Industrial Development Agency (the "Agency") on the 21st day of April, 2026, at 10:00 a.m., local time, at the Town of Islip, Offices of Economic Development, 40 Nassau Avenue, Islip, New York 11751 in connection with the following matters: Carleton Ave Aurora Associates L.P., a limited partnership organized and existing under the laws of the State of New York, on behalf of itself and/or the principals of Carleton Ave Aurora Associates L.P. and/or an entity formed or to be formed on behalf of any of the foregoing (collectively, the "Company"), has applied to the Town of Islip Industrial Development Agency (the "Agency") to enter into a transaction in which the Agency will assist in (i) the acquisition of an approximately 10.87 acre parcel of land located at 255 Carleton Avenue, Central Islip, New York 11722 (SCTM# 0500-207.00-01.00-004.023) (the "Land"), (ii) the demolition of two (2) existing buildings located on the Land totaling approximately 27,418 square feet; (iii) the renovation of three (3) existing cottage buildings located on the Land totaling approximately 33,177 square feet for use as multi-family affordable housing, comprised of approximately twenty four (24) residential units; and (iv) the construction of an approximately 143,590 square foot building or buildings located on the Land for use as multi-family affordable housing apartment building, comprised of approximately one hundred and six (106) residential units (the "Improvements"), and the acquisition and installation therein of certain equipment and personal property (the "Equipment"; and together with the Land and the Improvements, the "Facility"), which Facility will be leased by the Agency to the Company and is to be used as a multi-family affordable housing apartment complex, comprised of approximately one hundred and thirty (130) total residential units and related improvements, including, but not limited to, new landscaping, gazebos, a bus stop and a dog park (the "Project"). The Facility will be initially be nominally owned by Carleton Ave Aurora Housing Development Fund Company, Inc., and will be beneficially owned, operated, and/or managed by the Company. The Agency contemplates that it will provide financial assistance to the Company in the form of an abatement of real property taxes, consistent with the policies of the Agency. A representative of the Agency will at the above-stated time and place hear and accept written comments from all persons with views in favor of or opposed to either the proposed financial assistance to the Company or the location or nature of the Facility. At the hearing, all persons will have the opportunity to review the application for financial assistance filed by the Company with the Agency and an analysis of the costs and benefits of the proposed Facility. Dated: April 9, 2026 TOWN OF ISLIP INDUSTRIAL DEVELOPMENT AGENCY By: John G. Walser Title: Executive Director