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Bond Rating Up Two Points To AA

Major Development Projects and Infrastructure Improvements Underway 

 

The Incorporated Village of Farmingdale recently announced that taxes are within the 2 percent tax cap limit and that the Standard and Poor’s Bond rating for the village is up two points to AA. 

 

In addition, transit-oriented development, redevelopment and infrastructure improvements will benefit residents and the public at no cost to the taxpayers. 

 

Two major development projects are underway; the first at the Farmingdale Train Station, while another redevelopment project on Main Street is about to begin. 

 

This is an exciting time for the Village of Farmingdale. Multi-million dollar development projects will bring housing, jobs, economic activity and great adaptive re-use to the community.

 

In November, Bartone / TDI broke ground on Jefferson Plaza—a transit-oriented [smart growth] project that includes the development of 154 housing units and 20,000 square feet of retail space adjacent to the LIRR Station. Excavation of the site is finished,

construction is ongoing and expected to be completed in 18 months. Pedestrian covered walkways are completed. Development updates for Jefferson Plaza will also continue to be posted on the village website as the construction continues. 

 

Staller Associates are about to start demolition of the property located at 231 Main Street—with plans to develop 26 apartments and 3,100 square feet of retail space. Also 285 Eastern Parkway will be redeveloped with 27 units of apartments.

 

New York State Department of Transportation has approved new left-hand turning lanes along Main Street, at the intersection with Conklin St. This will enhance traffic flow through the downtown area. The intersection at Secatogue Ave. and Conklin St. will also be getting a right-hand turn arrow (near the Valero Gas Station) to facilitate traffic flow.

 

In addition to the development projects, Nassau County has provided $1 million in funding to Farmingdale, to help re-build sections of Main Street. The re-construction underway consists of safer pedestrian-friendly curb lines, re-surfacing of Main Street, and improving sidewalks are underway. 

 

Phase one will consist of installing new sidewalks from the railroad tracks to Northside Elementary School, as well curbing and road resurfacing in this section. Phase one is expected to be completed before May. 

 

Phase two will encompass sidewalks and drainage, from Conklin to South Front Street, which is expected to be completed in May. 

 

Phase three, Conklin Street to Route 109, includes new sidewalk, and drainage issues. This should be completed in June.

 

In conclusion, we would like to thank Joe Belisi, Michael Venditto, Rose Walker, Ed Mangano and all at the County who helped to secure the grants for the infrastructure improvements helping to make our community safer and easier to navigate.