Located at the corner of Bedell Street & Main Street, Estella Housing will create 96 apartments and 7,000 square feet of family-centered retail space. The benefits to the Hempstead community include:
The current taxes for this vacant property are approximately $33,000. The taxes being proposed under a PILOT Agreement are approximately $100,000 for 10 years, with the opportunity to extend for an additional 10 years. Without a Real Estate Tax Agreement this land will remain vacant for years to come and, as a 501(c)(3) non-profit, Concern is eligible for a full Real Estate Tax Exemption.
Let the Mayor and the Board of Trustees know that you support a Real Estate Tax Agreement for Estella Housing and you want to see affordable housing in your community!