Court Reverses Tax-Break Snub For East River Cleanup

Law360, New York (December 21, 2009, 7:01 PM EST) -- A New York appeals court has overturned the state Department of Environmental Conservation's denial of up to $250 million in cleanup-related tax breaks to a real estate developer trying to put together a $4 billion development on the site of an old East River power plant in Manhattan.

A five-judge panel overturned the department's October 2007 exclusion of three properties belonging to East River Realty Co. LLC from the state Brownfield Cleanup Program in the New York State Supreme Court Appellate Division, First Department on Thursday....
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