BENEFITS OF SYOSSET PARK.

BENEFITS OF SYOSSET PARK.

  • Increase in property tax revenue from $1 million annually to approximately $20 million annually, at full project buildout: development of fallow Cerro Wire Property and redevelopment of the Town DPW Site and placement onto the tax rolls
  • Of the $20 million in annual property tax at full project buildout, $12.0± million would be available to the Syosset Central School District and $3.3+ million to the Town of Oyster Bay
  • Projected sales and hotel taxes of between $19 million and $23 million, annually, of which between $9 million and $12 million would go to Nassau County (including a portion to Oyster Bay for public services)
  • Generation of over 2,600 direct construction jobs over the five-year construction period
  • Creation of over 2,000 permanent jobs at various levels — office, retail, restaurant, hotel, property and building maintenance, security
  • Broad variety of housing types for all ages and needs
  • Significant positive change in the visual and functional character of the properties, including the installation of well over 1,000 native and/or naturalized tree species, extensive green space, and landscaping
  • Creation of public spaces for community use and enjoyment, including a 30-acre, community-inspired public park, public gathering places, parks and plazas, and available public meeting and event space for the community
  • Environmental Conditions of Cerro Property improved with enrollment in and compliance with State Brownfields Clean-up Program. Will result in the most current remediation and Soil Cleanup Objectives being applied by the State to the entire Cerro Wire Property – which will allow all uses proposed, including residential
  • No disruption of Landfill Cap or EPA protective measures
  • Incorporates “Complete Streets” principles, including accommodations for pedestrians and bicyclists within a walkable community
  • Environmentally-friendly construction measures to reduce energy consumption and combustion of fossil fuels

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