Bloomberg secretly funneled $9 million in city property taxes to Hudson Yards project

The troubled Hudson Yards project is perennially in need of cash and Bloomberg found some $9 million worth through creative accounting. The bill was supposed to be paid for by property taxes on new construction in the area, but the city decided to deem several pre-existing buildings as “new construction” so it could shift the tax dollars to prop up Hudson Yards.

Bloomberg secretly funneled $9 million in city property taxes to Hudson Yards project – NY Daily News.

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