Nassau IDA OKs Incentives For Jericho Hotel: Report

JERICHO, NY — The Nassau County Industrial Development Agency recently approved a large benefits package for the Marriott Residence Inn to be developed within the parking lot of the Jericho Commons shopping center behind the Milleridge Inn, according to a report.

The incentives package includes a 20-year payment in lieu of taxes agreement, which means taxes will be frozen for the hotel for the first five years, the Syosset Jericho Tribute reported. The Town of Oyster Bay Town Board approved the permit for the hotel more than a year ago amid some local residential concerns.

“This project will be an economic driver in the Town of Oyster Bay and will provide synergy with area attractions and businesses and also will attract visitors heading to area colleges,” said Nassau IDA Chairman Richard Kessel said in a news release.