Friday, February 22, 2008

Empire State Devel Corp. Formally Votes to Postpone Roosevelt Island Tax Equiv. Bill Increases

The Empire State Development Corporation formally voted Thursday, February 21, 2008, to authorize postponement of Tax Equivalency Payment increases for North Town Phase II Houses, Inc. and North Town Phase III Houses, Inc. on Roosevelt Island, which currently have Ground Leases with the New York State Urban Development Corporation.

It's always comforting when you finally see this type of information formally voted and passed. Although I am unsure why the vote took so long to occur after the ESDC and the DHCR formally announced this same decision at the end of last month.

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