From the New York Daily News:
The Bloomberg administration secretly funneled more than $9 million in city property taxes to the Hudson Yards project on Manhattan’s far West Side without informing the City Council, a Daily News investigation has found.
That $9 million is on top of $234 million the mayor gave the Hudson Yards Infrastructure Corp., the private group spearheading the new 50-block district by extending the No. 7 subway line to 34th St. and 11th Ave.
This money could have gone to regular city services but went instead to a favored project of the real estate industry.
And while Mayor Bloomberg’s aides at least negotiated the bigger subsidy with the Council, they never disclosed the $9 million they allocated to Hudson Yards from the property taxes of buildings that existed before the project began.
The money could have gone to “regular city services” like, for example, parks(!) as well as libraries, infrastructure, senior centers, schools, teachers, etc. etc.
Read more at the New York Daily News here.