According to the internet, the builders of URBY got a 25-year tax abatement, which they continue to enjoy.
The city had the expense of providing new sewer and water pipes, new road paving, additional fire, police and sanitation services, street lighting, etc.
Funding was provided by the taxpayer, while the building owners collected rent. Tax abatement, as I understand it, was provided to encourage building here. That encouragement is no longer needed.
Staten Island is a “hot spot” for builders to build new . . . or to replace old structures with new ones . . . commercial/apartment-type buildings. Why don’t we stop offering tax abatements and give the already-here-and-paying-property-tax-owners a break?
(Marion Hodgman is a Stapleton resident.)