Nassau OKs tax breaks for Eisenhower Park sports complex
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Nassau County's Industrial Development Agency unanimously approved up to $2 million in sales tax breaks Thursday to complete the construction of a sports and recreation center in Eisenhower Park.
The $15 million, privately funded complex, known as the Twin Rinks Ice Center, is slated to open later this year.
The project is funded by Chris and Peter Ferraro, twin brothers who previously played in the NHL, and by brothers Joel Friedman of Connecticut-based Clearview Capital Management and Ronald Friedman of SilvermanAcampora LLP of Jericho.
IDA executive director Joe Kearney said the sales tax break will allow the developer to purchase building material, furniture, equipment and machinery. The tax breaks expire in October, he said.
The developers also received $100,000 in sales tax breaks from the agency last April.
In 2012, Nassau gave the firm a 50-year license to operate in the park. In exchange, the county will receive an annual base fee starting at $100,000 and capping at $180,000.
Nassau will also get a portion of the overall gross receipts from the facility, beginning at 2.5 percent and capping at 4 percent.
"Creating this kind of sports entertainment destination will enhance our quality of life as well as create jobs and opportunities for residents," said County Executive Edward Mangano.
Kearney said the project is responsible for about 100 construction jobs and will create 25 full-time positions.
The 85,000-square-foot facility will house two NHL regulation-sized rinks, an outdoor rink, a turf field, basketball courts, a handball wall, a personal fitness/sports physical therapy training area, a pro shop, restaurant, private party room and a day camp.
With James T. Madore