This is an archived version of a Field of Schemes article. Comments on this page are closed. To find the current version of the article with updated comments, click here.
December 21, 2003
Jets stadium would use PILOTs
The New York Post reports that the proposed $5 billion Manhattan development project that would include a New York Jets stadium would be subsidized with PILOTs (payment in lieu of taxes), not TIFs (tax increment financing). As discussed earlier in this space, it would amount to the same damn thing.