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Tag: 485-a

New York lawmakers gutted reforms to widely-abused real estate subsidy immediately after enacting them

by Rob Galbraith
June 15, 2022

Reforms to New York’s 485-a real estate subsidy went into effect on January 1, 2021. Lawmakers gutted them six months later.

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Wealthy developers cash in as cost of Buffalo tax break rises to $66.9 million

by Rob Galbraith
November 7, 2019

Tax break for mixed-use development has been abused to force property owners and renters to pay taxes for luxury lofts

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Nick Sinatra just got a major state development deal, owes hundreds of thousands in property taxes (again)

by Rob Galbraith
August 24, 2018

We exposed Nick Sinatra’s $1.2 million in back taxes earlier this year. The developer just got millions of dollars in subsidies to build in Canalside, even though he’s behind on his taxes again.

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