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HYIC

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HYICHudson Yards Infrastructure Corporation (New York, NY)


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CB4 has expressed its concern that the proposed financing scheme for HYIC ultimately puts city tax revenue at risk.
Although the reduction in taxes that the Hudson Yards UTEP proposes would seem to counter efforts to expand the PILOTs to levels sufficient enough to service the HYIC bonds, the tax break is supposed to be an incentive for development that will in turn markedly expand the tax base.
175) The HYIC will issue thirty-year bonds backed by revenue expected to be generated by the development.
 
 
 
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