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LGBT Network gets tax breaks to expand headquarters

April 26, 2019

With the help of Farrell Fritz partner Peter Curry and associate Nicholas Terzulli, the LGBT Network was able to secure tax incentives through the Suffolk IDA to expand their headquarters.

From Newsday:

The LGBT Network will be able to assist an additional 1,000 lesbian, gay, bisexual and transgender individuals each month by moving its headquarters into larger space in Hauppauge, officials said this week.

The nonprofit plans to rent 15,000 square feet at 125 Kennedy Dr. That’s more than three times the size of its current headquarters in Woodbury.

The IDA granted the network $154,200 in tax breaks over 10 years for the expansion project, which is valued at $2.3 million. The property tax savings total $143,800, or a reduction of 27.5 percent.

Without the aid, network attorney Nicholas Terzulli said it “will not be able to provide the expanded level of services to the thousands of Long Island families that are in desperate need of them.”

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  • Related Practice Areas: Real Estate
  • Featured Attorneys: Nicholas T. Terzulli, Peter L. Curry
  • Publications: Newsday