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Monday, August 30, 2010

Ground Zero Mosque May Get Tax-Exempt Financing

Reuters, Ground Zero Muslim Center May Get Public Financing:

The Muslim center planned near the site of the World Trade Center attack could qualify for tax-free financing. ...  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.

http://taxprof.typepad.com/taxprof_blog/2010/08/ground-zero-mosque.html

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Comments

Is this to complete the urban renewal and taking down of buildings that they started?

Posted by: Woody | Aug 30, 2010 1:11:00 PM