US EditionSubsidy Sheet: Real estate hopes to revive Grim REAPer - Reinvent Albany
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Subsidy Sheet: Real estate hopes to revive Grim REAPer - Reinvent Albany
A rare case of NY ending an irrational subsidy! We’re glad – but real estate is disappointed – that the state budget didn’t extend the long-obsolete Relocation and Employment Assistance Program (REAP) tax break that incentivizes companies to leave lower Manhattan (Crain’s). State Senator Brad Hoylman-Sigal nailed it: “Why should we be paying businesses to leave the borough when we want them to stay? It’s a perverse incentive, especially with com…
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