Sunday, July 18, 2010

Wilmorite Sues NY State For $3.1 Million Tax Credit Loss At Greece Ridge Mall

Revocation of Empire Zone program for The Mall at Greece Ridge squelched plans for a $25 million project.

NY State decertified the mall "for failing the 1-to-1 benefit-cost test," meaning a requirement to match every dollar of tax credit with a dollar of wages, benefits and investment. (D&C)

SCATS ~~ What took them so long to rid us of this tax sham???


Anonymous said...

A few of those Wilmots are getting up there in age. Soon they will be asking for the millionaire limited income senior exemption on their taxes.
Imagine the nerve of New York state expecting them to have to do something to benefit the community to receive the special exemption on their million dollar malls. What absolute gall on NY's part to "change the rules" considering the economy and the unemployment numbers. We should just let those boys keep on getting the Empire exemption and charging $10,000 a month to lease store space for a shop like Spencers at the mall. And we all know how many families are wholly supported by a parent working at the mall for minimum wage. What a racket. And of course we the taxpayers have to foot the bill for court costs as the state defends itself from their suit.

Anonymous said...

Never understood the benefit of giving tax breaks for retail as opposed to using that money to promote industrial development

Anonymous said...

Wilmorite should pay all their taxes and shut up!