Subsidy Tracker Individual Entry

Company: 
Grand Hyatt Hotel
Parent Company: 
Hyatt Hotels
Subsidy Source: 
local
Location: 
New York
County: 
New York
Project Description: 

luxury hotel

Year: 
1980
Major Industry of Parent: 
hotels
Specific Industry of Parent: 
hotels
Subsidy Value: 
$359,000,000
Program Name: 
property tax abatement
Awarding Agency: 
Empire State Development
Type of Subsidy: 
MEGADEAL
Source of Data: 

The subsidy value comes from: Charles V. Bagli, "A Trump Empire Built on Inside Connections and $885 Million in Tax Breaks," New York Times, September 17, 2016; online at http://www.nytimes.com/2016/09/18/nyregion/donald-trump-tax-breaks-real-...

Notes: 

The existence of the 40-year property tax abatement, which was negotiated by Donald Trump when he owned the property in partnership with the Hyatt Corporation, was reported at the time but the full value was not calculated until the 2016 New York Times story. Trump sold his interest in the hotel to Hyatt in 1996. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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