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December 14, 2006
Nets arena to net less in taxes?
Field of Schemes
By Neil deMause
The mystery behind the incredible shrinking tax-revenue estimate got airplay on Field of Schemes yesterday, as Neil deMause tried to track down some answers:
More today on the Brooklyn Nets economic impact mystery from Norman Oder's Atlantic Yards Report: It seems that in the revised Atlantic Yards General Project Plan issued last Friday by the state-run Empire State Development corporation, it revised downwards the projected tax revenues from $1.9 billion to $1.4 billion, while also reducing the projected public cost from $545 million to $453 million. (Neither the new or old figures include costs of schools, sanitation, or other services for the several thousand new residents of the apartment towers that would accompany the Nets arena.)
Posted by lumi at December 14, 2006 7:09 AM