Notice of Public Hearing - Rail Realty, LLC

09/09/26

NOTICE IS HEREBY GIVEN that a public hearing pursuant to Title 1 of Article 18-A of the New York State General Municipal Law will be held by the Town of Brookhaven Industrial Development Agency (the “Agency”) on the 21st day of September, 2026, at 11:30 a.m., local time, at the Port Jefferson Village Hall, 121 West Broadway, Second Floor Courtroom, Port Jefferson, New York 11777, in connection with the following matters:

The Agency previously provided its assistance to Rail Realty LLC, a limited liability company organized and existing under the laws of the State of New York ( “Company”), to finance certain costs of an industrial development facility as follows: (i) the acquisition of land located at 23-25 Texaco
Avenue, located in the Village of Port Jefferson, Town of Brookhaven, Suffolk County, New York (further identified as Tax Map No. Section 021.00 Block 04.00 Lot 22.006) (the “Land”), together with existing structures located thereon, (ii) the demolition of existing structures located on the Land,
and (iii) the construction and equipping of an approximately 106,516 square foot 3-story building over an underground parking garage, containing approximately 74 multi-family apartment units and known as Rail Realty Apartment Complex (collectively, the “Facility”), all leased by the Agency to the Company and used by the Company as a market-rate residential apartment complex for residents of the Town of Brookhaven (the “Project”).

The Company has submitted a request to the Agency for additional financial assistance including an extension of the abatement of real property taxes on the Facility for a term of up to seven (7) additional years (the “PILOT Extension”), in connection with the Facility. The Facility will continue to be owned and operated by the Company. The Agency has previously acquired a leasehold interest in the Facility and will continue to lease the Facility to the Company.

The Agency contemplates that it will continue to provide financial assistance to the Company in the form of a modification and extension of current abatements of real property taxes, consistent with the policies of the Agency. A representative of the Agency will, at the above-stated time and place, hear and accept written comments from all persons with views in favor of or opposed to either the proposed grant of financial assistance to the Company by the Agency or the location or nature of the Facility. Prior to the hearing, all persons will have the opportunity to review on the Agency’s website (https://brookhavenida.org/), the request for financial assistance filed by the Company with the Agency and an analysis of the costs
and benefits of the proposed Facility.

Dated: September 11, 2026
TOWN OF BROOKHAVEN INDUSTRIAL DEVELOPMENT AGENCY
By: Lisa MG Mulligan
Title: Chief Executive Officer

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