Garden City Building Gets Tax Breaks For Renovations

Garden City NY

26 May, 2022

2:08 PM

Description

GARDEN CITY, NY — The Town of Hempstead's Industrial Development Agency (IDA) recently approved financial incentives for a Great Neck company to renovate a Garden City building. At the May 19 meeting, the IDA approved the plan for an affiliate of Paul's Auto Collission Inc., a Great Neck-based body shop, to renovate a nearly 12,000-square-foot building located at 585 Commercial Ave. in Garden City. The renovations will cost $7 million. The company, owned by Paul Wilson, plans to hire 30 employees within three years of completing the project, with an average salary of $60,000, the IDA said. The Garden City building will be converted into and repair and training center for mechanics to work on European cars. Wilson said he plans to offer the facility's services to other collision repair centers, auto dealers, car rental and insurance companies. Currently, the property taxes on the building are $44,808, the IDA said. They are expected to rise to about $76,000 at the end of the 15-year agreement between Wilson and the IDA.