[CPEO-BIF] "Whole Foods Got $12.9M Tax Credit For Building in Polluted Gowanus, " Brooklyn, New York

[Lenny Siegel]

Whole Foods Got $12.9M Tax Credit For Building in Polluted Gowanus: Data 


By Leslie Albrecht 
DNA Info (NY)
February 7, 2017

GOWANUS —  Gourmet grocer Whole Foods earned $12.9 million in publicly funded tax credits for building a store on contaminated land it cleaned up next to the Gowanus Canal, according to recently released data.

The high-end store's first foray into Brooklyn helped gentrify Gowanus and also helped the company's bottom line through its participation in the state's Brownfield Cleanup Program, which gives developers taxpayer-funded financial incentives for cleaning up and then building on toxic sites.

Data released Jan. 31 by the state Department of Environmental Conservation, which runs the Brownfield Cleanup Program, show that in 2016 Whole Foods received two tax credits totaling $12,743,942 for building the Gowanus store. The credits are based on the value of the developed property. Whole Foods spent $63,719,710 to construct the store, according to DEC records.

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For the entire article, see
https://www.dnainfo.com/new-york/20170207/gowanus/whole-foods-third-avenue-street-tax-breaks

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Lenny Siegel
Executive Director, Center for Public Environmental Oversight
a project of the Pacific Studies Center
278-A Hope St., Mountain View, CA 94041
Voice/Fax: 650/961-8918 
<lsiegel at cpeo.org>
http://www.cpeo.org