Cornell Wins $100 Million Bid to Build Campus on Roosevelt Campus on Roosevelt Island (New York: sales, neighborhoods)
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Yeah - Cornell more or less got it by default when Stanford dropped out the other day. I was hoping Stanford would get it.
This is still a good thing, I think - a tech center on Roosevelt Island. It's a good use for the land, and it keeps it separate, but still within, the city of New York.
It might be better to sell the land to a for profit entity that would pay taxes.
Kind of sick of Bloomberg handing over NYC common lands to developers who get big tax abatements and pay very little taxes and to non profit organizations that will never pay any taxes.
I keep thinking "only 2 more years,hopefully he can't do too much more damage" but I guess he could actually do a lot more damage before we are rid of him.
Anyone know if Columbia University pays any property taxes on Rockefeller Center,which it owns ?
It might be better to sell the land to a for profit entity that would pay taxes.
Kind of sick of Bloomberg handing over NYC common lands to developers who get big tax abatements and pay very little taxes and to non profit organizations that will never pay any taxes.
I keep thinking "only 2 more years,hopefully he can't do too much more damage" but I guess he could actually do a lot more damage before we are rid of him.
Anyone know if Columbia University pays any property taxes on Rockefeller Center,which it owns ?
No, Columbia hasn't owned Rock Center in a while. But I think its very short-sighted not to think that a hi-tech center here wouldn't have tremendous benefits.
For one, the people employed there would largely be higher-income, which means more income tax revenue to the city.
And a lot of the people working there would probably live in NYC, giving a boost to local sales tax revenues and bolstering the housing markets--Better than even odds that prices in Astoria and LIC start rising quickly, and more housing gets built in those neighborhoods the closer the center gets to completion. That translates into more tax revenue too.
And of course there are the corporate start-ups likely to emerege from such a center, such as the many spawned in Silicon Valley or around Boston. Here they might largely be financially oriented -- NYC already has a huge software development industry tilted toward Wall St. This might add to it, as well as start new entirely non-financial related hardware and software businesses.
Is it a gamble that all that will happen? Yes. But the odds are good and I congratulate Bloomy for doing this. Spending on infrastructure stuff will probably be the down payment on a center that will yeild financial benefots for years. If the city can do this for the Yankees they can certainly do so for a hi-tech science center.
And oh yes, best of all, because nobody lives on this part of Roosevelt Island, nobody gets displaced! Far better than Columbia's uptown expansion.
No, Columbia hasn't owned Rock Center in a while. But I think its very short-sighted not to think that a hi-tech center here wouldn't have tremendous benefits.
For one, the people employed there would largely be higher-income, which means more income tax revenue to the city.
And a lot of the people working there would probably live in NYC, giving a boost to local sales tax revenues and bolstering the housing markets--Better than even odds that prices in Astoria and LIC start rising quickly, and more hosuign gets built in those neighborhoods the closer the center gets to completion. That translates into more tax revenue too.
And of course there are the corporate start-ups likely to emerege from such a center, such as the many spawned in Silicon Valley or around Boston. Here they might largely be financially oriented -- NYC already has a huge software development industry tilted toward Wall St. This might add to it, as well as start new entirely non-financial aelated hardware and software businesses.
Is it a gamble that all that will happen? Yes. But the odds are good and I congratulate Bloomy for doing this. Spending on infrastructure stuff will probably be the down payment on a center that will yeild financial benefots for years. If the city can do this for the Yankees they can certainly do so for a hi-tech science center.
And oh yes, best of all, because nobody lives on this part of Roosevelt Island, nobody gets displaced! Far better than Columbia's uptown expansion.
I know what you are saying but we hear this same old song and dance with every chunk of corporate welfare that gets handed out.This is just another form of corporate welfare.
The only group of people who pay taxes in this city is the middle class.Everyone else seems to get everything handed to them.
Just because it was done for the Yankees and countless other entities doesn't mean it should continue.Maybe it's time for all of it to stop.
It's a prime chunk of property.Lots of tax paying developers would be happy to build on the property and create jobs during development and permanent jobs after.Anything that gets built there will create jobs.
Why are we always giving the store away ?Why have we trained them all to expect everything for nothing ?
I know what you are saying but we hear this same old song and dance with every chunk of corporate welfare that gets handed out.This is just another form of corporate welfare.
The only group of people who pay taxes in this city is the middle class.Everyone else seems to get everything handed to them.
Just because it was done for the Yankees and countless other entities doesn't mean it should continue.Maybe it's time for all of it to stop.
It's a prime chunk of property.Lots of tax paying developers would be happy to build on the property and create jobs during development and permanent jobs after.Anything that gets built there will create jobs.
Why are we always giving the store away ?Why have we trained them all to expect everything for nothing ?
Cornell is not getting it for nothing. They've already got $350 million lined up that they they're going to use. And that doesn't count funding form other potential partners that may come around. So they're upping the city's contribution at least 3 times over. I'd hardly call that giving away the store.
This is good for NYC. It will attract hi-tech industry. You can't have a world class city without these sort of research facilities.
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