Apparently, $761 million in subsidies and tax breaks isn’t enough for Forest City Ratner. The Atlantic Yards developer is thanking the city for its generosity by suing the Department of Finance for a lower tax assessment.
The developer has filed a lawsuit against the Department of Finance, in an attempt to knock down the market value assessment on block 1129, which comprises the southern section of the development site, from $11.2 million to a scant $1.6 million, DNAinfo reported today.
A coalition of grassroots groups released a report today accusing the Andrew Cuomo-allied Committee to Save New York of taking billions of dollars in government subsidies and of trying to shirk paying taxes. The Public Accountability Initiative says that businesses affiliated with the committee have been approved for $2 billion in state and local subsidies and Read More
Yesterday, Governor Paterson vetoed a bill that would have capped the rents people with HIV and AIDS pay at 30 percent, calling it “my most difficult veto” but a necessary evil to keep the state’s grotesque budget at bay. Today, not surprisingly, a bunch of protesters showed up outside the governor’s offices Read More
The 1948 Marshall Plan for Europe was approved with a four-year, $13 billion appropriation by Congress.
Lower Manhattan’s four-year Marshall Plan, apparently, will need a refill.
In one of the few actions that both the State Assembly and the Senate managed to take in the last month, the length of a major subsidy package aimed Read More
The government watchdog group Good Jobs New York argues in a report today that economic incentives never succeed in keeping corporations where municipalities want them. In one instance, for example, New York City pledged $90 million in tax breaks so that Citigroup would build a new tower in Long Island City Read More