More Lower Manhattan Subsidies Extended
The New York Observer
The state Legislature has voted to extend a set of subsidies for Lower Manhattan, adding four years to a set of incentives installed in 2005 as part of a downtown recovery package. The Downtown Alliance worked with elected officials to ensure the extension.
Downtown Gets Boost From Tax Break Extension
In a statement, Elizabeth Berger, president of the Alliance for Downtown New York, says that passage of the tax abatement extension is “a significant mechanism for business attraction and retention in Lower Manhattan. As our region continues to weather the lingering recession, it is particularly critical to provide tools for growth and vitality in commercial areas, and today’s action does just that.” Berger had advocated for passage of the measure.