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sethnintendo on 24 June 2019
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EricHiggin said:
sethnintendo said:

How many tax breaks did he get for building project?  Corporate welfare?
EricHiggin said:

A Trump Makeover for Washington’s Old Post Office

https://www.nytimes.com/2014/05/28/realestate/commercial/finally-washingtons-old-post-office-gets-a-new-life.html

"Why Trump? Mr. Tangherlini, who became the agency’s acting administrator in April 2012 and administrator last July, said, “It was a combination of the viability of the business plan, the quality of the commitment to preserving the asset and a sense that this was the best deal on the table for the American taxpayer.”"

"In addition, Trump will be paying “possessory interest” taxes to the District of Columbia. Trump has also applied to the Internal Revenue Service for a 20 percent federal preservation tax credit on money spent on the renovation."

"(The “possessory interest” tax is in lieu of property tax, since the building will continue to be federally owned and therefore exempted from Washington property taxes. This is something the district created in 2000 to obtain money from private entities conducting business on tax-exempt government-owned properties. This tax is calculated at the same rate as Washington’s commercial property tax based on assessed value. At this time, it is difficult to say what that would be.)"

Maybe instead of the best deal, they should have made a worse deal for the people, or flat out torn it down like they originally wanted to?

https://www.reuters.com/article/us-usa-court-emoluments-idUSKCN1S72YL

If he was smart he would have put his businesses in a blind trust.  Now he can face the wrath of courts.  Maybe this time he won't wiggle his way out of it.

Last edited by sethnintendo - on 24 June 2019