August 30, 2010
Ground Zero Mosque May Get Tax-Exempt FinancingReuters, 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.
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Is this to complete the urban renewal and taking down of buildings that they started?
Posted by: Woody | Aug 30, 2010 4:11:00 PM