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Developer of Deer Park school building gets $21 million tax break

March 28, 2019
Newsday

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The developers of a 200-unit apartment complex coming to a former school property in Deer Park will get a $21 million — or almost 50 percent — tax cut to build the new facility.

The Babylon Industrial Development Agency, a public authority that grants tax breaks to projects with industrial uses or workforce housing and that create or retain jobs, voted unanimously Wednesday to grant developer Engel Burman’s request to pay $22 million in property taxes over 30 years, instead of the $43 million the developed property would yield.

Engel Burman is purchasing the shuttered George read more ››

How Affordable Housing Can Improve the American Economy

February 5, 2019
City Lab

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Housing is a big part of America’s story of innovation, productivity, and economic growth. For much of the industrial 20th century, housing helped to drive the economy by stimulating demand. Building more housing—especially in the suburbs—stoked the demand for more cars, washing machines, and other durable goods from America’s factories, creating good jobs for American workers and setting in motion a virtuous circle of economic growth.

But housing plays a very different role in today’s knowledge economy, where innovation and growth stimulate the clustering of knowledge, talent, and read more ››

Babylon fire departments get a year's supply of overdose-stopping drug

January 22, 2019
Newsday

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The Babylon Industrial Development Agency has donated 847 overdose-reversal drug kits to town fire and emergency service departments as the price of the drug continues to climb.

The drug, naloxone hydrochloride, stops an opioid overdose in its tracks, saving countless lives, and is used by first responders, and handed out to the public by community organizations and hospitals and can also be purchased at pharmacies.

Often referred to as Narcan, one of the well-known brand names, the drug’s cost has shot up in recent years.

David Roth, EMS supervisor for Copiague Fire read more ››

Tax deal would make way for 12 apartments, Family Dollar store in Copiague

January 7, 2019
Newsday

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A planned mixed-use building in the heart of downtown Copiague may get an almost 50 percent tax abatement, as the hamlet continues its yearslong revitalization efforts.

The owner of the single-story masonry business at 1800 Great Neck Rd., Darius Mroczkowski, would demolish it to construct a three-story building, housing a Family Dollar on the first floor and 12 apartments on the second and third floors.

Three of the units would be affordable — the minimum required by the town — and the project would employ 15 people during construction, making it eligible for a tax abatement read more ››

Enzo Biochem gets $2.8 million tax deal for expansion from Babylon IDA

December 10, 2018
Newsday

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Enzo Biochem Inc., a manufacturer of clinical products and a provider of laboratory services in East Farmingdale, will receive $2.8 million in tax abatements over 15 years to expand its operations to a third building and hire 60 people over three years.

The company has three legs — Enzo Clinical Labs, Enzo Life Sciences and Enzo Therapeutics — and has purchased a 35,800-square-foot building, at 21 Executive Blvd., to create a campus alongside its existing buildings at 10 Executive Blvd. and 60 Executive Blvd., which total 66,000 square feet.

The company employs about 400 read more ››

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Babylon IDA
47 West Main Street - Suite 3
Babylon, NY 11702
Tel: 631-587-3679
info@babylonida.org