What's Up with G.C. | Myths & Curious Statements | Landmarked Properties in G.C. | Waterfront Project Area Views

What's Up With
Glen Cove ?

 

MEETING CALENDAR


WERE YOU 
AWARE?

12/19/11 - A special Planning Board meeting was held at which a Special Use Permit was approved by a vote of 5-1 for the Waterfront Project Master Development Plan. The Board also approved the project's environmental review, or SEQRA findings.

09/20/11 - Public Hearing before the Planning Board on the Final EIS for Glen Isle-RexCorp waterfront project.

SEPT. 2011 - Planning Board reviewing preliminary plans for 2 Apartment Buildings on Carney Street - total of 52 units.

08/10/11 - By a 4 to 3 vote, the Planning Board approved the application and "Special Use" Permit for the Village Square Piazza redevelopment.

06/28/11 - City Council votes to sell Lee Gray Court properties (belonging to HUD) to a redeveloper; homes to be refurbished and sold.

06/21/11 - Village Square Owner Michael Pontillo appeared as an applicant before the Planning Board to request approval of a mixed-use application to redevelop the Village Square Piazza as residential/ commercial in 4 multi-story buildings. Decision was reserved.

06/21/11 - Preliminary presentation to the Planning Board of the Glen Cove Mansion plan to sell some of the property for development of a condo community.

2/26/10 - Bids were opened for the preliminary work on the Glen Cove Ferry Terminal in the Creek. Seven bids were submitted ranging from $11 Million to $18 Million, of which about $8 Million will be covered by Federal stimulus money.

10/06/09 - Public Hearing on site plan for Glen Cove Mews to be developed at Congregation Tifereth Israel property. Planning Board reserved decision on the site plan.

02/24/09 - City Council approves/ accepts the DGEIS for the Draft Master Plan.

2/23/2008 - Planning Board approves the "Scoping Document" for the Glen Isle-Rexcorp waterfront development.

10/15/2008 - Rexcorp-Glen Isle Partners present their Draft EIS scoping document for the waterfront development to the Planning Board. First of many meetings to come.

SEPT. 2008 - IDA/CDA votes to approve Rexcorp-Glen Isle mixed use development plan for the waterfront.

04/08/08 - The City Council voted to extend the moratorium on residential development for another six months on parcels of 13 acres and larger.

02/26/08 - The Public Hearing following Tuesday's City Council Meeting focused on changing the City Charter to legitimize the fact that several appointed positions in the City have been held by non-residents for some 13 years, in contravention of NYS municipal law. The bulk of the comments by the many speakers at this hearing were about the non-resident appointed as Deputy Mayor in January, however the issue extends to many other appointees. This Public Hearing is open through March 11th, when a second opportunity for residents to weigh in on the issue will be provided.

01/14/08 - The Nassau County Legislature voted along party lines (Dems 10 to Reps 8) to transfer the Glen Cove, Cedarhurst and Lawrence Sewage Treatment Plants to the County. According to Newsday, in her first appearance as such, our new Marjority Leader apparently employed a handy microphone switch to shut off any Republican discussion on the matter. Democracy in action.

12/21/07 - A public hearing was held with the Glen Cove Civil Service Commission. The primary order of business was regarding adding the civil service title Director of Strategic Initiatives for the Mayor's appointed assistant. This particular agenda item was bitterly opposed by all the public who were in attendance. Action on this by the Commission will be taken at a later date.

12/19/07 - At a Special City Council Meeting, called with very little notice, the Mayor and Council approved the transfer of the Glen Cove Sewage Treatment Plant and System to Nassau County by a 6 to 1 vote (after it had been tabled at the previous City Council Meeting a week earlier). Although there were about 50 residents in attendance, the public was not allowed to speak before or after the vote.

11/27/07 - The City Council approved a change in zoning for the Congregation Tifereth Israel property at Hill St. and Landing Rd. Zoning changed from a mix of R-6 and R-3A for the 9.3 acres, to R-5 (Garden Apartments and Townhouses). 72 units will be constructed around the Temple.

6/19/07 - Livingston Electric appears before the Zoning Board, advising that they are looking for a zoning change (to MW3) for their development that will significantly increase the residential unit density per acre.

6/5/07 - IDA Rejected Glen Isle's Preliminary DEIS and zoning request due to major differences between the partially approved LDA and the PDEIS as submitted.

6/5/07 - Site Plan Approval sought from the Planning Board for 86 Units on CTI temple property.

5/8/07 - Interim Changes to Zoning Regs Approved by City Council.

3/27/07 - Extension of the Major Subdivision Development Moratorium Approved by City Council.


The aerial photo of part of the City of Glen Cove from Hempstead Harbor to Town Path (West to East), and from Cottage Row to Sea Cliff Avenue (North to South), shows areas where residential development is planned. Click on each area to zoom in.

Aerial photos from Google Earth

Completed Projects

Avalon I

Located across from the Police Headquarters at the intersection of Pulaski Boulevard (Route 107) and Continental Place, the 256 luxury units on a 3.5 acre site are currently renting and mostly occupied. However, Avalon I will be making PILOT payments (Payment In Lieu of Taxes) for 22 years during which time it will not be paying its full tax burden to the City. The developer is Avalon Bay.

Clck here for more info on Avalon at Glen Cove

UNITS
256
 

City Boards & Commissions

 

Planning Board

The Planning Board considers applications for alterations to existing properties, or plans for new construction and subdivisions.

Members

Thomas Scott, Chairman
Cindy Rogers
Robert Jakobsze
Herbert Kaufman
Steven Gronda
Michael Bellisimo

The Planning Board meets at City Hall on the first and third Tuesdays of every month at 8 pm, unless there is a holiday, or lack of quorum.

 

Zoning Board of Appeals

The Zoning Board of Appeals handles applications for variances to build or modify structures outside the allowable zoning code. They publish LEGAL NOTICES in the local paper one week prior to meeting dates, for the cases they will hear for variances. It is up to the applicant to alert neighbors by mail who are within a 200' radius of the affected property, notifiying them of the application via registered letter. The signed receipts for registered letters must be provided to the Secretary of the ZBA at City Hall. It is the applicant's responsibility to obtain the radius map for notifications.

Members

Stuart Grossman, Chairman
Teri Moschetta
John Perrone
Charles Chiclacos
Linda Darby
Jeffrey Unger
Drew Lawrence

The Zoning Board of Appeals meets on the third Thursday of every month at City Hall at 7:30 p.m.

 

Landmarks Preservation
Commission

Members

Robert LaBaw, Chairman
Rick Smith
Cindy Rogers
Arthur Finer
James O'Grady
Timothy O'Rourke
Lindsay Anderson
Joan Harrison

 

Tree Commission

The Tree Commission is tasked with examining permit applications to remove trees 8 inches in diameter or larger on private property, among other duties assigned under Glen Cove's Tree Ordinance.

Members

Michael Michel
Dennis Fisher
Damion Stavredes

The Tree Commission's meeting schedule is unkown at this time.

 

Industrial Development Agency (IDA)

Ralph Suozzi, Chairman
Kelly Morris, Exec. Dir.
Members

Vincent Hartley
Carmine Filippone
Patricia Bourne
Martin Carmody

 

Community Development Agency (CDA)

Ralph Suozzi, Chairman
Kelly Morris, Exec. Dir.
Members

Vincent Hartley, Vice Chairman
Kathryn Casale
Graham Long
Drew Lawrence
Lindsay Anderson
John Hanley

Zoning Advisory Committee

Kelly Morris, City of Glen Cove, Chairman

Max Stach, Stuart Turner & Assoc.
Charles Starks, PPSA
Michael Zahn , Attorney
Len Baron, Director Building Dept.
Herb Kaufman, Planning Board
Rafaella Bertucci, Planning Board
Steve Gronda, Planning Board
Stuart Grossman, Zoning Board
Linda Darby, Zoning Board
Jon Schapiro , Master Plan Task Force
John Perrone , Zoning Board

Avalon II

Under construction on Glen Street between the Pistilli Center and the Ferrari dealership, Avalon II will provide 111 luxury units. PILOT will be applied to Avalon II for 15 to 17 years. The developer is Avalon Bay.

Click here for more info on Avalon Glen Cove North

UNITS
111

Pending Projects

Waterfront Development

(RexCorp-Glen Isle Project)

Contract with the IDA/CDA for development of approximately 56 acres on the North side of Glen Cove Creek, comprised of the Captains Cove parcel and the Li Tungsten parcel, with other smaller City-owned parcels. Current Planned Unit Development (PUD) submitted to Glen Cove's Planning Board in the resubmitted Preliminary DEIS (Draft Environmental Impact Statement) has 860 residential units (down from 1120 units - the maximum permitted under the MW-3 zoning). Developer is negotiating with other adjacent property owners on the North side of the Creek for purchase of additional properties to add more residential housing. Existing business sites along Garvies Point Road and Herb Hill Road being considered for purchase include Slant Fin, the Pickle Factory, Kaufman Plumbing Supply, Windsor Fuel Oil terminal and others.

The 250-room hotel planned as part of the project has a little-known caveat: if the hotel is not successful, many of the units may be turned into additional condos and sold or rented. So 860 units is not a hard and fast number.

The expanded project may also result in the demolition of affordable housing on Janet Lane, to be replaced by expensive townhouses at some point in the future. The developer who holds a contract with the City's IDA/CDA is Glen Isle Partners. Click here to examine the Myths, Statements & Curious Facts about this project.

Much press has been given to the vast sums of money to be realized by the City of Glen Cove by the sale of this property to RexCorp Glen Isle Partners (now RXR Glen Isle - March 2009) under the current contract. Blink, and the money's gone. Click here to see where the money goes.

UPDATE June 2011: The developer makes a new pitch before the Planning Board that due to the current economy, the waterfront residential development will be more rental units than owned units. They also hint that the rental market will support upwards of 1100 units at the site. The plan is for 200-300 rental units initially, in low buildings of 4-5 stories. Full build-out is anticipated to take 7-10 years.

UPDATE May 2011: The sluggish economy has caused the developers to reduce the number of 10- and 12-story buildings from 2 and 3 to 1 and 2 respectively. The tall buildings will be sited at each end of the project, while the buildings in the center of the project will be only 4-5 stories. However, the parties are agreed that, should the economy improve, the developers have the option to resort to the original plan. In any event, 860 units is still envisioned.

UPDATE March 2010: The economy is delaying the project. Rumors are that a single 12-story building with other structures of stick-frame construction, which will limit theiir height to 4 or 5 stories, may be proposed. The density remains the same.

UPDATE Summer 2009: Though most units in the current plan will be in buildings 10 stories or less, 5% of the units in this development will be in buildings 10-12 stories in height.

UPDATE March 2009: Scott Rechler, a L.I. based developer with a track record, has bought into the Glen Isle partnership.

Views of the Glen Cove Waterfront Project Area

What's the Plan for the Waterfront?

The environmental review process has been fast tracked--here is the anticipated time frame that was presented by the RexCorp Glen Isle representatives:

• February 2009--DEIS and schematic site plan submitted
• Spring 2009--Public hearing and preparation of responses to comments
• Fall 2009--Approval of special-use permit for PUD planned unit development) with application for approval of conceptual site plan
• Spring 2010--shovel to the ground--on some aspect of the project.
The project would begin at the east end with possibly some rental units and public amenities.
• Spring 2011--Developers now say they expect to reach the end of the permitting process in the fall of 2011.

Developer RXR-Glen Isle Partners LLC - Click here for more info on
RXR-Glen Isle

UNITS
860+
"Village Piazza" (Village Square)

The current owner (Michael Puntillo, Jr.) of most of the Village Square properties is before the planning board with a project to redevelop the Village Square with a mix of mostly residential housing, and commercial uses on the ground level. The buildings will feature up to 4 floors of residential above commercial on the first floor. The resulting 5-story buildings will be taller than the parking garage on Brewster Street, and approximately level with the office building on School Street. Again, this would require a change in the zoning laws to permit mixed-used residential and commercial, but nothing is impossible. Density required is 25 units/acre.

UPDATE May 2011: Four buildings will replace most of the current structures, although the buildings currently housing Claymation, State Farm Insurance, and DiLeo Insurance Agency will remain because they are individually owned. Residential units will be 1- and 2-bedroom apartments; no studios or 3-bedroom units. 20% will be set aside as "affordable housing" (definition: for the median income of Nassau County).

A parking garage level will be at grade in the building where Ruby Tuesdays had been, and in the building on Bridge Street abutting the parking lot, an underground level of parking will be provided.It is assumed that many tenants will park in the garages, as the project may be as much as 100 spaces short of required parking. The number of units is down from the previous proposal of 157.

If fast-tracked through the Planning and Zoning Boards, the project could begin as early as Sept./Oct. 2011 with an 18 to 20-month buildout.
Developer JOBCO

UNITS
142

Original rendering presented in 2009

"The Villas"

Glen Cove Avenue Project

A developer, known as Livingston Developers of Flushing has acquired parcels amounting to 4.1 acres on Glen Cove Avenue from the Boys & Girls Club to Ralph Young Avenue. The planned residential development, known as "The Villas" will be multi-tiered garden condominium units comprising 5 four-story buildings and 1 high-rise that will be greater than four stories, with a pool, fitness center and theater for residents. Livingston Developers will seek approval to build 216 units (down from the original 251). This is a reduction of 10 units from the 226 that was recently proposed before the Planning Board. The City has waived the 10% "next generation housing" units that would have been required under the Master Plan in trade for the further 10-unit reduction. Livingston's argument against providing the next generation housing (also called "affordable housing") is that the project is in the midst of a saturation of affordable housing. Unit pricing will be in the range of
$325,000 to $800,000.

The property is on a 70-foot gradient (hill) from one end to the other. 502 underground parking spaces are planned for residents of the units.

UPDATE January 2009: With the transfer of a City-owned parcel adjacent to the Glen Cove Boys & Girls Club, the developer now has acquired all of the properties he needs to build this project. Zoning variances are the next step. Some of the storefronts in the strip mall have been re-opened for business, as the economy has apparently caused delays in beginning the project.

The developer is Livingston Development Corp., Daniel Livingston - President

UNITS
216
"The Mews at Glen Cove"

(Congregation Tifereth Israel)

Located at the intersection of Hill Street and Landing Road, the Congregation Tifereth Israel is selling some of the property around the Temple including frontage on Hill Street and Cottage Row, for residential development. While they intend to maintain their place of worship on the property, the proposal for 86 2-story townhouses in 6 buildings, for adults 55 and older only, has been recently modified to 72 units in up to 7 buildings. All units will be 2-bedroom condos and the price range will be ~$400K.

Exactly 144 parking spaces will be provided for the condo units (2 per unit) in 4 lots, and the parking will be separate from the Temple parking area. The developers intend to provide 2 separate entrances to the property - the current entrance will be for the Temple while a new entrance a couple of hundred feet to the south on Hill Street will be added for the residential component. There is no plan to have residents access both entrances.

The property to be developed is believed to be approx. 5.5 acres. The CTI property formerly straddled both R-3A and R-6 zones, and was rezoned by the Planning Board to all R-5 (Garden Apartments and Townhouses) at the City Council Meeting of 11/27/07.

Developer Landing Cove LLC.

UNITS
72
Glen Cove Mansion

(formerly Harrison House Conference Center)

The owners of the Glen Cove Mansion will soon file to subdivide the 55 acres bounded by Lattingtown Road, Old Tappan Road and Dosoris Lane. The intent is to develop a 12-acre parcel in the Northeast corner near the Lattingtown Ponds development for clustered residential housing. This is expected to happen in 2010.

While no one wants to see more of the shrinking greenspace in Glen Cove given up to residential development, it may be the only compromise that will keep the rest of the historic estate property whole and hopefully, lead to the Glen Cove Mansion's continued viability as a hotel and conference center.

UPDATE June 2011: Preliminary application was made before the Planning Board to sell 17 acres of the property in the northeast corner to a developer who plans to build 50 condominium units selling in the range of $1 Million each.

UNITS
50

Sea Isle Project

The planned development on a spit of land at the Glen Cove-Sea Cliff border on Shore Road has been proposed on and off for nearly 20 years. Recent hearings on the project have been held in both Sea Cliff and Glen Cove. Current plans are scaled back substantially from what was originally submitted in the early 1990s. It is believed that the protected wetlands on the property will be ceded to the City of Glen Cove, while 8 units will be constructed on the remaining 4 acres.

Developer is City View Estates, LLC.

UNITS
8

Lee Gray Court Redevelopment

Original plan: the 32 existing Housing Authority-owned units in 19 houses on Lee Gray Court will be demolished and replaced by 60 units with a 20/20/20 mix:
20 Section 8 units, 20 "workforce" affordable units, and 20 market value units. All of the units will be condos and will be owned rather than rented. They will be mixed so that from the outside it will not be apparent which units are Section 8 and which will be market value condos. The prices on the market value condos will likely be over $400K while the Section 8 subsidized units may be in the $160K range. Market value units will be larger than the others and may have more amenities. The prices on these will subsidize the construction costs of the lower income units. The details of all of this are still being worked out. The chosen developer is JOBCO and Caruso.

UPDATE June 2011: The City Council votes to sell the Lee Gray Court properties to a redeveloper. JOBCO is out. Homes will not be razed but will be refurbished and brought up to current building codes. 19 refurbished buildings will house 17 2-family homes and 2 1-family homes. Project could be completed by Spring 2012. Proceeds from the sale go back to the Federal Government (HUD). Developer: Morgan Estates of Glen Cove LLC

UPDATE January 2011: The agreement with JOBCO to redevelop has apparently collapsed. Talks are on-going to investigate whether to rehabilitate the homes on the property.

UPDATE March 2010: Due to the economy and a number of other factors, the project as planned is dead. JOBCO is out. Negotiations continue with HUD - currently the City is trying to get the property owner to put out an RFP to reconstruct 19 one- or two-family homes at the site, which would be owner-occupied. This would reduce the density from the proposed 60 units back to near the original numbers.

UPDATE October 2009: The market value units have been dropped from the plan due to the economy. All units will now be subsidized and the number of units may increase to 64.

UNITS
-2

Carney Street Apartments

Preliminary plans submitted to the Planning Board for a two-building apartment block on Carney Street with 52 units.

UNITS
52

Potential Projects Under Discussion

Staples
(the "Triangle")

It has recently been learned that the owner of this property, containing Staples, Quiznos, Annie Sez, and the pharmacy, is considering moving the building to the front of the property so as to be on School Street with parking in the rear. As part of this substantial rebuilding effort, the owner is considering applying to put residential units above the stores. This is currently not permitted under Glen Cove's zoning ordinances except older units that are 'grandfathered', but there's nothing to prevent the zoning being changed to accomodate a developer, as we found with the waterfront project. The property owners have approached the IDA/CDA about this proposal.

UNITS
?

Konica Imaging

This is a substantial parcel of land that is up for sale and is adjacent to the waterfront development project. It lies within the MW-3 zone. It is unknown at this time what the future plans for the buildings that formerly housed Konica, and before that, Columbia Carbon and Ribbon. This property will surely be eyed for residential development as part of the expansion of the waterfront redevelopment but Konica is not saying at this moment what the plans are, though the latest word is that all employees will be out of the building by May 2007.

The City is trying to induce businesses that may be able to use the historic main building for commercial use. Other options for saving the Konica building and its unique construction are being considered, such as possible public use. It may be 3 years before this property is considered for other development. The EPA is still conducting remediation of the soil in one corner of the Konica property due to contamination by a previous owner, Columbia Carbon & Ribbon.

UNITS
?

Photocircuits Site

With Photocircuits recently declaring bankruptcy, developers are drooling over the possibility of putting high-density residential development on this site. A zoning change would be required (easy in Glen Cove). The real obstacle will be the estimated $9 Million dollars cleanup of the polluted property. This dollar fiigure will increase annually, and is probably already too low, judging from the Li Tungsten cleanup history.

See Newsday's article regarding the Photocircuits site. Newsday 6/20/07

Fortunately, the current administration is still trying to interest commerical operations in taking over the Photocircuits property. Since commercial real estate is subject to a higher tax rate, the need to keep commercial properties in the City is critical to our tax base. Unfortunately, the current economy, and the pollution at the site which must be cleaned up, does not make the property particularly attractive.

UNITS
?

The number of units proposed that we know of could increase the current population of Glen Cove by nearly 20% by conservative estimates.
UNITS
1765+

Go to Top


Read about similar problems with High Density Developers in a neighboring community. Click on links below:

Oyster Bay 1

Oyster Bay 2

Is there any value to Glen Cove having an IDA - Industrial Development Agency?

On Long Island only the Counties and Towns have Industrial Development Agencies. Does Glen Cove's size warrant an IDA? What is the IDA's mission?

  • The Industrial Development Agency administers grants and loans from the Federal and State govenments for projects benefitting the community
  • The IDA is supposed to entice businesses and jobs to Glen Cove
  • The IDA encourages businesses to relocate here by enabling them to access low rate bonds, giving them tax incentives and PILOTs (Payment In Lieu Of Taxes}, and other incentives.

Why do we want businesses in Glen Cove? Ans. (1) Commercial property owners pay a higher tax rate than residential owners, and (2) they provide jobs for community residents.

What is the Glen Cove IDA's track record?

  • They provided PILOT incentives to Sweezeys - this business closed its doors after about 5 years, before it ever paid any taxes.
  • When Savavieh moved into the former Sweezeys building, they too got a PILOT.
  • They provided a PILOT to the Regency at Glen Cove - this business is not flourishing. The PILOT has been renegotiated downwards so that they are making lower payments now than in the beginning of the program. The taxpayer is subsidizing a failing business which may never pay its fair share of tax revenues to the City of Glen Cove.
  • The IDA has provided PILOTS to Avalon 1.
  • The IDA purchased the waterfront properties formerly known as Captain's Cove and Li Tungsten. The mortgage payments are being paid by the City of Glen Cove because the IDA has no income. The City recently bonded another $250,000 to pay the interest on this mortgage on the IDA's behalf. The IDA owes the City over $2 Million which contributes to the City's nearly $10 Million deficit. (click here for more on this)
  • The IDA's sweetheart contract with the Glen Isle development team provided Glen Isle with the go ahead to plan a huge residential development on the North side of the Glen Cove Creek which threatens to bring big-city traffic congestion to Glen Cove, and put tremendous strains on City services.
  • In order to facilitate this contract between the IDA and the Glen Isle developers, the previous Mayor and City Council approved zoning changes that will permit the entire industrial area of the North side of the Glen Cove Creek to be developed as residential, thereby eliminating commercial properties and businesses that provide jobs, and replacing them with pure housing.

So, does this Industrial Development Agency provide a benefit to the City of Glen Cove or is it assisting this community's demise?

Tom Suozzi's 2007
STATE of the COUNTY
Message
No doubt by now you have received your copy of the glossy STATE of the COUNTY that County Executive Tom Suozzi has mailed to all residents. And if you've read it instead of immediately filing it with the trash to go out, you'll note that Tom has called for "Smart Growth" in several areas of the County to keep taxes down.

One area as noted on the map in this flyer is Glen Cove, with an arrow pointing obviously (ominously?) to the area of the Glen Cove Creek. Prominently in the middle of the page beneath the map it states:

"Our growth must be smart. We must preserve and enhance our suburban quality of life"

This is precisely the message that most residents of Glen Cove have been saying about the proposed waterfront development. It must "preserve...our suburban quality of life".

Most of us are supporters of development of the waterfront - just not the plan being offered to us as an ultimatum. As former Mayor Tom Suozzi stated in the February 12th 2007 edition of Newsday:

"I think the proposed development has great aspects as far as drawing people to the waterfront, to public spaces, access to the water's edge, commercial and residential together - but it's much too big the way it's currently proposed."

We couldn't agree more...

Even former Mayor Holzkamp, who orchestrated the current dubious partnership with the developers Glen Isle Partners, conceded in the same Newsday article what is plain to the rest of us.

"It wasn't 16 [stories] when I left - and they already knew we felt it was too high."

Is Tom Suozzi sending out a mixed message with his STATE of the COUNTY flyer?

Go to Top
Monti-Posilico Team's Incarnation as "Team Stratford"
Bid to redevelop a 79-acre polluted site in Connecticut

Team Stratford: Fold up your tent

Article Last Updated:05/18/2007 06:25:28 AM EDT

It's time for Team Stratford to give up any possibility of becoming the lead agency on developing the Stratford Army Engine Plant.

Connecticut's seven-member congressional delegation on May 11 made is explicitly clear that they were rejecting the Stratford Town Council's request for legislative intervention to stop the U.S. Army from resuming control of the sprawling 79-acre former defense plant site that is a key to Stratford's future economic growth.

However, no sooner had the delegation issued its statement than new Team Stratford General Partner Don Monti was before the council saying his group was not giving up its fight against the Army.

The only saving grace in this embarrassing situation is that Monti was totally ambiguous about how his group, Monti-Posillico of Long Island, would accomplish the task.

If Monti meant his firm would be a bidder for the development work once the Army and General Services Administration put the project out to bid, that's acceptable.

However, if his group plans to file lawsuits or engage in similar obstructionist behavior, that would be a total disservice to Stratford and its residents.

Team Stratford, in its several configurations through the past decade, had 11 years to redevelop the site. It failed utterly.

Yes, Monti-Posillico didn't come into the picture until this past January. But, with a bit of due diligence they could have envisioned what was going to happen — namely that the U.S. Army would retake control of the site on Main Street near Sikorsky Memorial Airport.

To the benefit of Stratford, the Army has not missed a beat since January in preparing to have the property marketed and bids sought for redevelopment. The Army and the GSA have already hired internationally-known Cushman and Wakefield to market the property.

It's time for Team Stratford and a majority of Stratford Town Council members who support the group to leave redevelopment to the federal government and move on to other pressing issues facing Stratford. There certainly are enough of those.


Go to Top

Where the money goes...

When the IDA/CDA completes the sale of the former Li Tungsten and Captain's Cove properties along the Glen Cove Creek to Glen Isle Partners under the existing Land Disposition Agreement ("the contract"), the sale price will be somewhere between a low of $25 Million and a high of $32.5 Million.

There are a lot of deductions before the City coffers see any of that money. The table below shows how the land sale money is allocated.

Low Price

High Price

$ 25,000,000

Land sale price

$ 32,500,000

Land sale price

- 5,100,000

Amount due to EPA, cleanup reimbursement

- 6,912,500

Amount due to EPA, cleanup reimbursement

- 4,745,000

Partial repayment of HUD "108 Loan" for property purchase

- 4,745,000

Partial repayment of HUD "108 Loan" for property purchase

- 1,255,000

Balance of HUD "108 Loan" to be paid to Environmental Facilities Corp. (EFC) for cleanup expenses

- 1,255,000

Balance of HUD "108 Loan" to be paid to Environmental Facilities Corp. (EFC) for cleanup expenses

- 3,000,000

Additional reimbursement of cleanup money to EFC for Captain's Cove cleanup

- 3,000,000

Additional reimbursement of cleanup money to EFC for Captain's Cove cleanup


$ 10,900,000

TOTAL


$ 16,587,500

TOTAL

 

The total amount shown above, whether the high, low, or some price in between is agreed to, is subject to additional deductions that are either growing or not currently known:

  • Deduct any Agency (IDA/CDA) costs paid for by the Redeveloper
  • Deduct as a credit to the purchase price any costs incurred by the Redeveloper for remediation of the properties to bring them to an acceptable level of cleanup for residential development
  • Deduct dollar-for-dollar cost for an Environmental Insurance Policy to protect Redeveloper and City from future lawsuits based on environmental problems at the site
  • Deduct cost of upgrades to the City Sewer Treatment Plant to eliminate odors
  • Deduct the cost of re-locating the Angler's Club from City property being sold to the Redeveloper
  • Deduct the costs of any "off-site" infrastructure improvements made by the Redeveloper (this would include the cost of the "Taj Mahal" fire station that Glen Isle has promised to build for the Glen Cove Fire Department anywhere they want)
  • Deduct repayments to the City for interest payments made on behalf of the IDA on the HUD "108 Loan", which was bonded

It's easy to see how these "vast sums of money" get whittled down, and it is questionable whether enough funds will remain after deductions and credits to fully pay off the City's nearly $10 Million deficit. This deficit was incurred through questionable budget practices in anticipation of the sale and redevelopment of the properties along the Creek over the past three or four years.

Go to Top

What's Up with G.C. | Myths & Curious Statements | Landmarked Properties in G.C. | Waterfront Project Area Views