To: Brumar89 who wrote (1010943 ) 4/11/2017 11:24:39 AM From: Brumar89 Respond to A Trump Empire Built on Inside Connections and $885 Million in Tax BreaksCHARLES V. BAGLI SEPT. 17, 2016 an extraordinary 40-year tax break that has cost New York City $360 million to date in forgiven, or uncollected, taxes, with four years still to run, on a property that cost only $120 million to build in 1980. political connections, and relied on a huge amount of assistance from the government and taxpayers in the form of tax breaks, grants and incentives to benefit the 15 buildings at the core of his Manhattan real estate empire.Since then, Mr. Trump has reaped at least $885 million in tax breaks, grants and other subsidies for luxury apartments, hotels and office buildings in New York, according to city tax, housing and finance records. The subsidies helped him lower his own costs and sell apartments at higher prices because of their reduced taxes. .............. https://www.nytimes.com/2016/09/18/nyregion/donald-trump-tax-breaks-real-estate.html MAX J. ROSENTHAL JUL. 11, 2016 6:00 AMclose to Trump's father , Fred. In talking to one of the men responsible for selling the Commodore, Beame described his relationship to the Trumps in simple terms. "Whatever my friends Fred and Donald want in this town, they get," the mayor said, according to journalist Michael D'Antonio's recent Trump biography, Never Enough . What Trump wanted was an option to develop the site of the hotel and an unprecedented 40-year tax abatement from the city. He got them—but not without an act of deception.tricked the city government with a paperwork sleight of hand. "When city officials asked for a copy of his agreement with Penn Central, he sent them the paperwork, minus the signatures that would have made it binding," D'Antonio wrote. "This omission either went unnoticed or no one cared about it, because the bureaucracy continued to move forward, as if the parties had signed, and Trump had actually paid." On the strength of the faked option, Trump was able to convince the Hyatt hotel chain that he was a worthy partne r with whom it could build a new Grand Hyatt hotel on the site of the Commodore.still hadn't paid the option and no papers had been signed," D'Antonio reported. But investigative reporter Wayne Barrett reported in his book Trump: The Greatest Show on Earth that according to Michael Bailkin, a City Hall official at the time, "no other party had been given an opportunity to submit a bid on the project."............... http://www.motherjones.com/politics/2016/07/trump-files-how-donald-tricked-new-york-huge-deal
