Fred Parola

Hempstead LDC approves $28M in Adelphi bonds

By GREGORY ZELLER // The Town of Hempstead Local Development Corp. is once again backing a regional school’s expansion efforts with a nod for tax-exempt bonds. The LDC, which in 2018 approved the sale of $15 million in tax-exempt bonds for Molloy College’s dorm-construction project in Rockville Centre, has done the same for up to $28 million in tax-exempt bonds on behalf of Adelphi University. The Garden City university will put $6 million toward the…


Hempstead IDA drives school bus company’s new HQ

By GREGORY ZELLER // The wheels on the bus go round and round in Hempstead, where the Industrial Development Agency has finally finalized an economic-incentives package for a leading school bus operator. Approved in September and closed Nov. 30, the Town of Hempstead IDA’s undisclosed tax-abatement deal will help Port Washington-based Dell Transportation Corp. acquire 1.37 acres at the intersection of Kellum Place and Union Place in the Village of Hempstead. Dell Transportation is planning…


Hempstead advances three key development projects

By GREGORY ZELLER // It’s been a busy week in the Town of Hempstead, where local economic-development officials have hit the gas on a multitude of projects. The Hempstead Industrial Development Agency on Tuesday approved the sale of Park Lake Residences, an affordable-housing complex located in the Village of Hempstead, and the reassignment of existing economic benefits to the complex’s new owner. The IDA also granted preliminary approval to an economic-benefits package that will allow…


Preliminary bond deal brings new Molloy dorms closer

By GREGORY ZELLER // Don’t start planning those keggers just yet, but new dormitories for Molloy College are a step closer to reality. The Town of Hempstead Local Development Corp. has issued preliminary approval for the sale of $15 million in tax-exempt bonds on behalf of the Rockville Centre college, with the money earmarked for the construction of new student residences. Final authorization for the bond sale won’t come until the Development Corp. – which…