Tag Archives: tax breaks

Queens’ Morning Roundup


| ctumola@queenscourier.com

morning roundup

TODAY’S FORECAST

Tuesday: Snow this morning will mix with and change to rain this afternoon. High 36. Winds NE at 5 to 10 mph. Chance of precipitation 90%. Snowfall around one inch.Tuesday night: Light snow this evening will give way to some clearing late. Low 26F. Winds NNW at 10 to 15 mph. Chance of snow 50%.

EVENT OF THE DAY: Bingo at Rego Park Jewish Center

Play bingo at Rego Park Jewish Center every Tuesday night – cash prizes, friendly game, everyone 18 and over welcome. Doors open at 6:00 p.m. Early Bird Game is at 7:00 P.M. Regular Games begin at 7:15 p.m. Click here for more info or to submit an event of your own

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New York State Gov. Andrew Cuomo has decided to support the minority position of his own tax commission when it comes to providing a property tax credit to renters across the state, with most of the break going to New York City tenants. Read more: CBS New York/AP

NYC ads target reckless drivers with tragic images

The city is targeting reckless drivers with an ad campaign featuring two heartbroken New Yorkers standing where their loved ones were struck and killed. Read more: New York Post

New York, New Jersey drivers better than Southern counterparts, listing shows

When it comes to driving, New Yorkers put their Southern counterparts to shame. Read more: New York Daily News

Mega Millions jackpot climbs to $586 million

The Mega Millions jackpot has been boosted to $586 million, a jump from the earlier projection but still trailing a $656 million prize last year that was the largest in U.S. history. Read more: CBS New York/AP

As NORAD Tracks Santa, critics track NORAD

The U.S. and Canadian military’s beloved Santa Tracker is facing something new this year — public criticism. Read more: AP

 

 

 

City OKs $43M in tax breaks for Willets Point developers


| mchan@queenscourier.com

Photo rendering courtesy of NYCEDC

The city has approved $43 million in tax breaks for developers who plan to transform Willets Point into a retail and entertainment destination. 

The New York City Industrial Development Agency (NYCIDA) voted Tuesday to give the incentives to the Queens Development Group, a joint venture between Sterling Equities and Related Companies.

“That’s one of the most terrible things the city is doing,” said Arturo Olaya, president of the Willets Point Defense Committee of Small Businesses and Workers.

“The city is giving the money to the billionaires. And you know what they’re doing to the people here in Willets Point? They’re evicting the people and closing the businesses to give them this land for free,” Olaya said.

The city’s Economic Development Corporation (EDC) has offered more than $12.5 million in relocation aid to business owners in the first phase of the development site.

As of the end of last month, 30 have already relocated, signed new leases or are close to doing so, according to a Megan Montalvo, a spokesperson for Councilmember Julissa Ferreras, who represents the area.

The city also plans to give the land to developers for $1 after the Queens delegation of the City Council approved the sale in November.

State Senator Tony Avella said aiding developers with the additional millions was “an absolute disgrace.”

“The city is taking advantage of those property owners, who are really getting the shaft,” he said. “The city is giving that land to them for a dollar, and now they want $43 million in tax breaks.”

The major $3 billion project to redevelop Willets Point, now made up of hundreds of auto shops, includes cleaning up 23 acres of contaminated land.

Plans also eventually call for constructing housing units and a 1.4 million-square-foot shopping center west of Citi Field.

“While I remain confident that this development, as a whole, will greatly enhance the quality of life for my constituents, I will respect whatever decision the IDA deems appropriate for this application,” Ferreras said.

 

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