While the appellate court continues to listen to arguments from local civic groups and Taubman continues to wrangle over questions of entitlements, Bulmash expressed his confidence that the mall will be built and stuck to the company's timeframe for a 2007 opening. In fact, he expressed his hope that, if the "litigation can be resolved quickly," the firm could start pouring concrete "in the next few months."
While he didn't share names, he did note during the question-and-answer period following the formal presentation that target tenants have displayed "much interest," particularly retailers coming to Long Island for the first time. They would join committed anchors Neiman Marcus and Lord & Taylor. But in a brief interview after the presentation, he did acknowledge that the protracted court battles have mired the preleasing process and no further commitments have been nailed down.
He did stress the economic lift the mall would bring to Nassau County once it is operational, including 2,200 construction jobs and 1,900 permanent positions. Tax revenues during construction are expected to hit $25.8 million while real property taxes will hover around $7.3 million annually. The mall is expected to generate some $14 million in sales taxes and salaries of $75 million annually.
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