"With just 19 days left in office, the Bloomberg administration has bestowed a sloppy goodbye kiss on the giant developer Related Companies in the form of $120 million in tax breaks for its work on the Hudson Yards and Willets Point projects. The abatements were approved by the Industrial Development Agency, an arm of the Economic Development Council. According to Bloomberg News, Related will get a $76.5 million break to design a 49-story tower in Hudson Yards in addition to the $434 million in tax abatements for what has been referred to by Fortune as "the largest real estate project in U.S. history." The company plans to invest $1.2 billion in the project."
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Shared from the Digg iPhone app
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