Why do hotels keep getting this city tax break meant to protect manufacturers?

A tax break designed to help manufacturers stay afloat in the city may actually have aided in pushing them out. The city’s Industrial and Commercial Abatement Program was put in place in the 1970s to encourage developers to invest in their real estate and to bolster manufacturers. But the program has instead fostered the growth of hotels in industrial areas, like Gowanus, Williamsburg and Sunset Park, Crain’s reported. All Year Management’s William Vale Hotel, for […]

Source: Real Estate

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