Recent news stories in Newsday [“CEO: $1B project needs tax revenue,” May 25 and “City may retain part of waterfront land,” May 18] only tell part of the story of a proposal to develop Glen Cove’s waterfront.
The contract for sale of the 52 acres specifically requires RXR Realty to be responsible for the funding and construction of all public amenities. The agreement acknowledges that the developer may seek funding from third-party sources other than the City of Glen Cove and its agencies, in connection with funding the public amenities.
So RXR, not the city, is responsible for all costs, and the use of anticipated tax revenue is contrary to the contract for sale.
Glen Cove derives no benefit in the use tax revenue to fund a private project when the tax revenue has always been anticipated to relieve some burden of our taxes.
Similarly, Mayor Reginald Spinello’s idea of retaining land contradicts that contract and would also violate zoning regulations, invalidate the planned unit development and reduce the intended relief of tax burdens on residents of Glen Cove.
Drew Lawrence, Glen Cove
Editor’s note: The writer served on the Glen Cove Community Development Agency when it reviewed the Garvies Point project.