Chicago: paying taxes to the boss
The most jarring incentive reportedly comes out of Chicago, which, under state law, could redirect between 50 and 100 percent of the income taxes incurred by Amazon employees right back to Amazon. In a city where income is taxed at a rate of 4.95 percent, their concession could amount to a loss of $1.32 billion that could have been spent on city schools, roads, and fire fighters.
I noticed there is a Left Bank for sale sign on the tract of land where the hotel was suppose to be. I believe it said 3.x acres zoned MU-2 .... so I'm not for sure if the sign is just there referencing another tract of land, or if something happened to the hotel deal?
I did in fact learn that Valencia did pull their contract, so Left Bank is either looking for another hotel or to build apartments on the lot. Seems like a waste given the direct access to the river and unobstructed views that parcel of land has .....
FW81 ... Any idea if they are still even wanting a hotel? I've left numerous messages with their development office and the Rea Estate company and can't get a return call. Have companies interested if someone would return a call!
I have learned that apparently the Valencia hotel deal is back on. I really hope this gets done. I think it would greatly benefit the whole development and the area in general desperately needs the hotel space.
I do at times feel for the Left Bank development, I know originally Whole Foods was looking, Neimans, West Elm was originally under contract at LB and I think a few other stores that switched to Clearfork. I just wonder if a few things like that would have came to fruition how much different it would have been.
The Valencia Hotel project is back on ?!
Thats great news!
Posted by BlueMound
on 14 September 2017 - 06:12 PM
House passes 2018 Spending Bill.
Senate will want to negotiate certain parts before passing.
The House Bill Includes $1.16 billion MORE for the Corps of Engineers (Water Infrastructure) than Trump requested.
Army Corps of Engineers The Army Corps of Engineers is funded at $6.16 billion, an increase of $120 million above the fiscal year 2017 enacted level and $1.16 billion above the Presidents budget request. The bill focuses funding on activities that will have an immediate impact on public safety, job creation, and economic growth, including those that help increase the functionality of our ports and waterways. For example, the bill provides:
$2.8 billion for navigation projects and studies, including $1.34 billion in funding from the Harbor Maintenance Trust Fund and full use of estimated annual revenues from the Inland Waterways Trust Fund, to help advance American competitiveness and export ability; and
$1.8 billion to support public health and safety by funding flood and storm damage reduction activities, an increase of $74 million above fiscal year 2017 and $424 million above the budget request.