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From Gotham Gazette: The Fuzzy Fine Print of Amazon’s Queens Real Estate Deal

I have an essay in Gotham Gazette, The Fuzzy Fine Print of Amazon’s Queens Real Estate Deal
The first of several New York City Council public oversight hearings on the deal to bring an Amazon campus to Long Island City will be held Wednesday at City Hall. Titled by the Council as “Exposing the Closed-Door Process,” the questions should concern not just the big-picture issues but also some fine print regarding the company’s acquisition of city-owned real estate.
Of course, the estimated $3 billion in tax breaks and subsidies in the deal made among Amazon, the state, and the city deserve scrutiny, though, except for a state capital grant that could reach $505 million, those questions -- as Gotham Gazette previously reported -- mostly concern revising existing policy.
... But Council members also should look at two maddeningly complicated passages in the non-binding Memorandum of Understanding (MOU) Amazon signed with Empire State Development (ESD), Gov. Andrew Cuomo's economic development authority, and the New York City Economic Development Corporation (NYCEDC), Mayor Bill de Blasio’s economic development entity.
They rather cryptically describe some contemplated transactions that deserve far more sunlight, both now and if/when they move toward fruition.
Read on.

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