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Board members say new Triangle apartment project will be net revenue generator for Westbury schools
Summary
During public comment at the Sept. 9 meeting, district leaders and a resident discussed an apartment project in the Triangle area; officials said the development is projected to generate about $13 million in tax revenue over 20 years and was expected to add between seven and 15 students.
Board members and a resident discussed an apartment development in the Triangle area across from Linden Avenue during public comment at the Sept. 9 meeting, with district leaders saying the project should generate net revenue for the school district over time and include a negotiated one-time payment to the district. Board President Robert Treano Jr. told the meeting the underdeveloped property currently pays roughly $300,000 in taxes; once developed, the project could generate about $13 million in additional tax revenue to the district over the next 20 years, according to figures Treano cited from the developer's analysis. The developer's demographer originally projected seven students from the building; district staff asked for a more conservative estimate and received a projection of 15 students. Treano said the village and Nassau County Industrial Development Agency negotiated a special payment from the developer of about $500,000, of which the school district will receive $150,000. He added the development will also include internship and job opportunities for district students and adult-education participants. Why it matters: new housing developments can change district enrollment and tax revenue. Trustees said they supported the project because the projected tax revenue would exceed the estimated cost of educating additional students under district assumptions. Financial math: Treano used the state's per-pupil calculation (which he criticized as overstating marginal cost) to explain the comparison. Using the state's calculated per-student cost (about $30,000 per student per year), Treano said 15 additional students would cost about $450,000 annually, while the projected tax revenue from the development would exceed that amount over time. What was said and not said: Treano emphasized the district had not opposed the project before the village or Nassau County IDA because officials judged the fiscal impact positive. He cited past examples of new developments that added very few students and still produced net revenue. No board vote on the development was taken at the meeting; the discussion occurred during public comment and Q&A. Next steps: residents seeking more detail were told to follow up with the district for the underlying demographer report and the specific tax-projection calculations.
