From the NY Times:
City officials have chosen five more development projects, one in each borough, to receive tax-free financing through the federal stimulus program.
One of the chosen projects is a 117-room hotel to be built on the former site of the Pepper & Potter car dealership on Flatbush Avenue in downtown Brooklyn, which would borrow $20 million.
Another hotel? Thank God, this is just what we need.
...up to $28 million — would go to a terminal and pier on Staten Island that would receive imports of cement by ship for distribution around the city.
I didn't realize we needed to import cement. Seriously.
An additional $19.8 million would help finance a parking deck at St. Barnabas Hospital in the Bronx.
Up to $17 million of bonds would be issued on behalf of Fleet Financial Group, which plans to build North Queens Medical Center, an 80,000-square-foot treatment facility with a parking garage on Union Street in Flushing.
This is getting better. What exactly is this? Hospital? Clinic? Doctors' offices? I can't seem to find any information about North Queens Medical Center anywhere.
The last $2.2 million would go to My Image Studios for outfitting an arts and entertainment studio in the Kalahari Condominium on West 116th Street in Harlem.
An arts and entertainment center at a luxury condo in Harlem? Excellent use of my tax dollars.