As the city considers giving $650 million in tax breaks to Hudson Yards developers, it will have no less an opponent than Sen. Chuck “Mr. Office Space” Schumer. Here’s what he said about them a year ago before the Partnership for New York City:
There is already growing developer interest in the area and I see no evidence that reductions in PILOT payments – de facto tax breaks at the city’s expense – are needed. Traditionally in this city, infrastructure alone is sufficient to induce development.
(Via James Parrott of the Fiscal Policy Institute.)