logo CityLand
      • Home
      • About CityLand
      • CityLand Sponsors
      • Filings & Decisions
      • Commentary
      • Archive
      • Resources
      • CityLaw
      • Current Issue

    DeNiro hotel fails to qualify for brownfield tax credits

    DEC  •  Tribeca, Manhattan
    Construction of DeNiro’s luxury hotel at 377 Greenwich Street nears completion. Photo:Morgan Kunz.

    Developers sought brownfield credits, but had excavated and remediated site before DEC denied claim. 377 Greenwich LLC, developers of a seven-story luxury hotel and restaurant at Greenwich and North Moore Streets, conducted soil tests on the site and discovered two 550-gallon unregistered underground storage tanks. The developers applied in 2004 to the state Department of Environmental Conservation to have the site recognized as a brownfield under a newly enacted brownfield law that offered substantial tax credits. At the time of its application, the developers, with principals Robert DeNiro, Ira Druckier and Richard Born, held an approved remediation plan from DEC that addressed findings from the tests.

    Under the brownfield law, if DEC determines that the site is a brownfield, it prepares a remediation plan with community comment. With DEC’s investigation pending, the developers at 377 Greenwich excavated and remediated the site. The developers then submitted new soil tests showing that the contamination covered 50 percent of the site and cost $1 million to remediate. (read more…)

    Tags : 2006 NY Slip Op. 26453, 377 Greenwich LLC, 377 Greenwich LLC v. State DEC, brownfield law, Ira Druckier, Richard Born, Robert DeNiro
    Date:12/15/2006
    Category : Court Decisions
    Leave a Comment

    Subscribe To Free Alerts

    In a Reader

    Desktop Reader Bloglines Google Live Netvibes Newsgator Yahoo! What's This?

    Follow Us on Social Media

    twitterfacebook

    Search

    Search by Category

      City Council
      CityLaw
      City Planning Commission
      Board of Standards & Appeals
      Landmarks Preservation Commission
      Economic Development Corporation
      Housing Preservation & Development
      Administrative Decisions
      Court Decisions
      Filings and Decisions
      CityLand Profiles

    Search by Date

    © 1997-2010 New York Law School | 185 West Broadway, New York, NY 10013 | 212.431.2100 | Privacy | Terms | Code of Conduct | DMCA | Policies
     

    Loading Comments...