Critical Public Finance

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Hudson Yards: $1B in Commercial Subsidies

New York City's Hudson Yards project includes heavily discounted property taxes for Hudson Yards developers.

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The Cost of NYC's Hudson Yards Redevelopment Project

Rather than being "self-financing," New York's Hudson Yards project cost the city $2.2 billion in costs, largely due to tax breaks provided by the city to incentivize development and standard development risks and costs.