Governor Signs Tax Abatement Bill Benefiting Ratner

New York Governor Eliot Spitzer Friday signed a compromise property tax abatement bill that preserves--but reduces--Bruce Ratner's tax benefit on Atlantic Yards. The Nets' arena will be the centerpiece of $4 billion project. Under the bill signed by Spitzer, Ratner will save about $200 million over 15 years. Under the original proposal, approved by the legislature, the abatement would have lasted 25 years and saved about $300 million, causing even the project's biggest backers to demand a change.

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

By becoming a registered user, you are also agreeing to our Terms and confirming that you have read our Privacy Policy.

Join NetsDaily

You must be a member of NetsDaily to participate.

We have our own Community Guidelines at NetsDaily. You should read them.

Join NetsDaily

You must be a member of NetsDaily to participate.

We have our own Community Guidelines at NetsDaily. You should read them.

Spinner.vc97ec6e

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_9347_tracker