City cuts a deal with Bear Stearns over MetroTech
In a recently announced deal, Bear Stearns will convert $4.8 million in sales tax breaks from a 1997 subsidy deal into real estate tax breaks for their MetroTech location. Read about it in the New York Post and The New York Times.
Previous accounts of the city's negotiations with Bear Stearns over keeping MetroTech jobs in NYC suggested the company was asking for a third helping of subsidies - and that the city said no. (The New York Times, and the Associated Press.) Click on dates to read details on Bear Sterns' first two subsidy deals, 1991 and 1997, in the GJNY database of deals.