Friday, August 9, 2013

This will cost everyone else in the City

Gov. Cuomo got $100,000 from developer, then signed law giving it big tax breaks

Twin $50,000 donations were made to Andrew Cuomo’s campaign by two companies that have the same address as Extell Financial Services, which is part of Extell Development Co. — one of five developers to receive hefty tax relief thanks to a bill signed by the governor two days after the contributions.

NY lawmakers mandate massive tax breaks for millionaires’ Manhattan apartments

Language quietly inserted into a bill that sailed through the state Legislature singled out five NYC developments to make them eligible for tax breaks that could cost the city tens of millions of dollars in property taxes, the Daily News has learned. Developers of four of the projects, their relatives and affiliated companies gave $1.5 million to various state campaign committees from 2008 to 2012.

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