Cuomos treasurer invests in Suffern development: Cuomos campaign treasurer is partnered with real estate developers who have sought multiple tax breaks on a luxury apartment building project in Suffern. Gov. Andrew Cuomos campaign treasurer is a partner in a proposed luxury rental apartment project on Orange Avenue, seeking tax breaks from local municipalities and the state. Richard Sirota of Irvington, a private investor and consultant who is also a major donor to Cuomos campaign, attended a recent Ramapo Town Board meeting, during which the board approved a payment in lieu of taxes, or PILOT, agreement for the Orange Avenue project. Sitting next to Sirota were Jeffrey and Joshua Goldstein, executives of Orange Avenue Associates, the developer of the 91-unit market-rate apartment building proposed for the 1.48 acre site. Sirota, 62, said he attended the meeting as a longtime friend of the Goldsteins. Ive known him since he was a baby, Sirota said as he patted Joshua Goldsteins shoulder. But Sirota is also a partner in the project and has a financial stake. Granting a PILOT agreement for a luxury apartment project is unusual as such projects typically dont create many permanent jobs. Additionally, the project was accepted by the states Brownfield Cleanup Program, which would give the developer tax credits. Amid village homeowners opposition, the developer has successfully convinced the village boards Democratic majority to approve a 35-year tax deal. Opponents are left wondering why officials went along with it. On Thursday, Ramapos all-Democratic Town Board unanimously approved a 40-year tax agreement with the developer. The Ramapo Central School District has been mulling over a tax agreement. Suffern Village Trustee Frank Hagen, a Republican who cast a lone nay vote against the PILOT, said he was disappointed to learn Ramapo also agreed to give a tax break. I object to the town approving the PILOT for the same reason I objected to (the PILOT) with the Village of Suffern, Hagen said. Residents are not getting jobs from this development. ... Theres something going on behind the scenes. In a written statement, Joshua Goldstein said Sirota has been a minority limited partner with the company since its inception and is only a passive investor on this project. Sirota has not played any role in the business decisions or in securing the necessary approvals for the project, Joshua Goldstein said. Cuomos campaign denied Sirota used his connection to the governor to influence the project. Sirota has had no interaction whatsoever with anyone in state government with respect to this project, according to a statement from the campaign. Orange Avenue Associates is one of the many companies owned by Sheldon Goldstein, who has been a generous donor to former Gov. Mario Cuomo and to the current governor. Sheldon Goldstein made his name in construction and real estate development in the 1950s. His son, Jeffrey, and his grandson, Joshua, later joined the family business. Headquartered in Suffern, the companies are well known in Rockland and beyond. While seeking tax breaks from local municipalities, Orange Avenue Associates also successfully applied for a state Department of Environmental Conservations Brownfield Cleanup Program – a tax credit. The proposed site consists of five properties.One of them, about 0.6 acres, was recently been found to be contaminated with arsenic and lead. According to the developer, it housed a battery factory in the 1920s. Projected rents for a one- and two-bedroom units in the Orange Avenue building are $2,000 and $2,300, respectively, according to the developer. lohud/story/news/local/rockland/ramapo/2014/08/22/cuomos-treasurer-invests-suffern-development/14469175/
Posted on: Sat, 23 Aug 2014 14:24:02 +0000
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