Quote:
Originally Posted by CentralGrad258
It's all posturing, just like the W got its Tax increment financing, so will Dranoff get some kind of a sweetener for sure. It's a beautiful project and as a fan of the Philly skyline I hope it gets built, but the tax abatement issue is not so cut and dry. How many additional tax breaks to the wealthy condo buyers, developers and hotel guests really need?
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The tax abatement is not new, it has been here for years now and has been a positive element for growth as Pennsgrant mentioned. Goode is setting this issue up for his own name and future considerations as in a fight with Comcast and its abatement's for when their new tower is announced.
Again its shortsighted. The "wealthy condo buyers, developers and hotel guest" all pay taxes multiple other ways. They argument is whether they would even be here without the help/intrigue of an abatement. The shortsightedness comes from not realizing abatement's don't last for ever and Philly would benefit much better in the long run.