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0 pointsspamizbad7y ago0 comments

Rezoning and eminent domain, resulting in massive windfall for Plaxall https://www.crainsnewyork.com/real-estate/plastics-company-a...

(Yes, some of that land is being purchased in a private sale, but its value is now significantly greater because of the city's rezoning and ability to stich-together workable parcels through eminent domain)Long island City residents aren't terribly happy about that.

Then there's the whole Excelsior tax credit scheme which Amazon really stretches. It's normally just 6.85% of wages per net new job. Amazon's is significantly greater. https://esd.ny.gov/excelsior-jobs-program

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chrismcb7y ago

Use of eminent domain is disgusting and that alone is enough to kill the deal IMHO. Using eminent domain for a private business is wrong. It seems like New York does that too often.

j / k navigate · click thread line to collapse

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chrismcb7y ago

Use of eminent domain is disgusting and that alone is enough to kill the deal IMHO. Using eminent domain for a private business is wrong. It seems like New York does that too often.

j / k navigate · click thread line to collapse