Posted on 08/27/2010 1:33:41 PM PDT by kcvl
(Reuters) - The Muslim center planned near the site of the World Trade Center attack could qualify for tax-free financing, a spokesman for City Comptroller John Liu said on Friday, and Liu is willing to consider approving the public subsidy.
The Democratic comptroller's spokesman, Scott Sieber, said Liu supported the project. The center has sparked an intense debate over U.S. religious freedoms and the sanctity of the Trade Center site, where nearly 3,000 perished in the September 11, 2001 attack.
"If it turns out to be financially feasible and if they can demonstrate an ability to pay off the bonds and comply with the laws concerning tax-exempt financing, we'd certainly consider it," Sieber told Reuters.
Spokesmen for Mayor Michael Bloomberg, Governor David Paterson and the Islamic center and were not immediately available.
The proposed center, two blocks from the Trade Center site in lower Manhattan, has caused a split between people who lost relatives and friends in the attack, as well as conservative politicians, and those who support the project. Among those who support it are the mayor, civic and religious groups, and some families of victims.
The mosque's backers hope to raise a total of $70 million in tax-exempt debt to build the center, according to the New York Times. Tax laws allow such funding for religiously affiliated non-profits if they can prove the facility will benefit the general public and their religious activities are funded separately.
The bonds could be issued through a local development corporation created for this purpose, experts said.
The Islamic center would have to repay the bonds, which likely would be less expensive than taxable debt.
(Excerpt) Read more at reuters.com ...
it’s only right.
?
If we thought people were po’d before just wait until this hits the fan.
“comply with the laws concerning tax-exempt financing”
Doesn’t that mean DISCLOSING who is financing your project?
We believe in Freedom of Religion.
That’s why we’re using your money to build this mosque.
-your friends on the left
seperation of church and state?
This is going to chap some butts.
BUMP!!
I can’t believe this. When was the last time the government in New York chipped in to help build a church?
Makes as much sense as the last two years have.
I want to throw up every time I see those photos. It is just so heart breaking!
And they wonder why the state is broke!!!!!!!!!!!!!!!!!!
But I thought muzzies don’t take loans?
I don’t know what to say about this.
All those people apparently died, as have our guys in theatre, for just about squat.
Justice? Justice? I guess that’s a ‘word’ to NYC and WH and DOJ politicians.
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