Shrub Oak school developer settled with state for $4.3M over business, tax practices 8/3/17
Michael C. Koffler, CEO of K3 Learning Inc., is asking the Westchester County Industrial Development Agency for more than $52.5 million in financial assistance to build Shrub Oak International School.
“Tuition for boarders will be $254,000 a year, according to a statement by Koffler at an IDA meeting, or $300,000 according to the school’s website. Yearly tuition for day students will be $124,000. … In 2006, his company reported a $12.3 million cash loan from Koffler, enabling him to claim a negative adjusted gross income. The loan was not fully substantiated, according to the settlement, and there was no “reason to believe that Michael Koffler had $12 million on hand to loan to his business.”
His companies deducted $1.6 million for personal expenses such as rental of a New York City apartment, payments to department and specialty stores and payments for a vacation home in Westhampton Beach.“
https://westfaironline.com/92178/shrub-oak-school-developer-settled-state-4-6m-business-tax-practices/
And here is the website of the Shrub Oak International school, unsure if the heliport was ever built. I recall them requesting approval to proceed when the school opened. I don’t know where the 127 acres is, considering the town park next door is about 15 acres.
https://www.shruboak.org/about/