Jericho Plaza.

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NEW YORK CITY- The board of the Nassau County IndustrialDevelopment Agency has given preliminary approval to online floraland gift distributor 1-800-Flowers.com for a package of developmentincentives to renovate 96,867 square feet of new office space at 2Jericho Plaza in Long Island.

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The IDA Board approved the package at a video conference meetingthis month in response to an application from 1-800-Flowers.comindicating a possible move out of New York if it couldn't securethe tax incentives to renovate and lease the new space at 2 JerichoPlaza. The floral e-commerce retailer is seeking sales-taxexemptions of more than $500,000 and a 15-year payment in lieu oftaxes agreement that would keep property taxes at their currentlevel for 10 years followed by five years of 1.81 percentescalations.

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Although the board approved the package, it will undergo reviewby the IDA staff, as well as a public hearing and a finalauthorizing resolution at a later date.

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"This is a globally recognized, blue-chip company with itsheadquarters in Nassau County and it has been a major economiccontributor to the region since its relocation to Long Island in1990 and its current location since 2005," said Richard Kessel,chairman of the Nassau IDA, in a prepared statement. "It isimportant to retain companies such as 1-800-Flowers.com to maintainthe economic growth of the county and ensure continuedsuccess."

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The company employs 377 full-time employees and 17 part-timers.The estimated $10 million project is expected to create 12construction industry jobs. Currently, 1-800-Flowers.com leases80,500 square feet of office space at 1 Old Country Rd. in CarlePlace, where its lease is nearing expiration.  In itsapplication, the company said ownership changes in the buildingpresent significant functional challenges to continuing itsoperations without a substantial investment.

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The property at 2 Jericho Plaza is a three-story, multi-tenant,353,798-square-foot Class-A office building.  TheChasanoff family developed the property on the site of a former sodfarm in 1980 and later sold it and neighboring 1 Jericho Plaza toS.L. Green and Onyx Equities in 2007. Taconic Capital and TriangleCapital Group have since joined ownership.

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James F. McCann, founder and current executive chairman of1-800-FLOWERS.com, began operations in 1976 when he acquired asingle retail florist in New York City, and subsequently expandedto a 14-store chain. Soon after, the company modified its businessstrategy to take advantage of the emergence of toll-free callingand acquired the right to use the toll-free telephone number1-800-FLOWERS and utilize it for branding.

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Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.