An auto body business will get economic incentives from the Town of Hempstead Industrial Development Agency to assist with a $7 million project in Garden City. 

Prosperity Avenue Holdings LLC, an affiliate of Great Neck-based Paul’s Auto Repair and Collision, plans to renovate and equip the 11,900-square-foot industrial building on .36 acres at 585 Commercial Ave. 

Owner Paul Wilson plans to have 30 employees with an average salary of $60,000 within three years at the new facility, according to an IDA statement. The repair center, which will also serve as a training facility, will offer its services to other collision repair firms, auto dealers, car rental businesses and insurance companies. 

Current annual property taxes on the 66-year-old building are $44,808 and the taxes are estimated to rise to $76,000 by the end of a 15-year payment-in-lieu-of-taxes agreement. 

“This project not only will generate economic growth, new jobs for the residents of the Town of Hempstead, but also will provide vocation training,” Fred Parola, Hempstead IDA CEO, said in the statement.

Article: https://libn.com/2022/05/27/auto-body-shop-gets-ida-help-with-7m-garden-city-project/

Leave a Reply

Your email address will not be published.

Need More Information?

DGNY COMMERCIAL
175 Broadhollow Rd. Suite 140
 Melville, New York 11747

Phone: 516.402.3469
Email: Info@DGNYCommercial.com

 

DGNY Commercial Logo

© 2020 – DGNY COMMERCIAL. All rights reserved.

We are pledged to provide equal opportunity for housing to any prospective customer or client, without regard to race, color, religion, sex, handicap, familial status or national origin.

New York State Fair Housing Notice 

The source of the displayed data on all of our listings is provided by either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use.