FACILITIESAPPROVED

Town of Islip Agenda Packet 2026-05-19

Hummus Fit Wins IDA Tax Incentive Package

Sales and use tax exemption not to exceed $39,375; mortgage recording tax exemptions on financing up to $15,000,000 (estimated $109,800–$110,000); 12-year PILOT abatement scheduleTown of IslipHUMMUS FIT CORPORATIONMay 19, 2026

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Description

Hummus Fit Corporation secured Industrial Development Agency approval to operate a prepared foods manufacturing facility at 1800 Motor Parkway under a lease-leaseback structure with significant tax incentives. The 12-year agreement includes sales and mortgage tax exemptions and a declining property tax abatement.

Contract Details

Contract Amount

Sales and use tax exemption not to exceed $39,375; mortgage recording tax exemptions on financing up to $15,000,000 (estimated $109,800–$110,000); 12-year PILOT abatement schedule

Vendor

HUMMUS FIT CORPORATION

Agency

Town of Islip, NY

Contract Type

FACILITIES

Document Date

May 19, 2026

Contract Term

PILOT: 12-year abatement starting at 40% of assessed value, decreasing 5% annually; equipment lease and Agency Compliance Agreement dated as of May 1, 2026

Renewal Info

PILOT abatement and associated benefits extend 12 years with declining exemptions; Agency may extend the agency appointment for tax-exempt purchasing upon request if project work is not completed.