News & Culture in Carroll Gardens, Cobble Hill, Boerum Hill and Points Nearby
September 26, 2016
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DNA Info: Barclay’s Center in Tax Battle with City (Despite $700 M in Tax Credits)

By Lisa M. Collins

DNA Info has a really interesting, if not slightly confusing, story about how Bruce Ratner, owner/developer of the Barclay’s Center NBA arena has sued the city over its appraisal, saying the value of the center has been bloated by $600 million. This, even though the arena got about $700 million in tax credits and does not pay property taxes, but instead pays only the interest on the loans it took (bonds) to build…. interesting stuff.

 

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