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|    MATZDOBRE    |    The Mad Dog Matzdobre Echo    |    343 messages    |
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|    Message 3 of 343    |
|    Jeff Binkley to All    |
|    Mosque    |
|    27 Aug 10 16:38:00    |
      Prepare for a full spit-spewing denial from the left.                     =============================================              http://www.reuters.com/article/idUSTRE67Q5BW20100827              Ground Zero Muslim center may get public financing              (Reuters) - The Muslim center planned near the site of the World Trade        Center attack could qualify for tax-free financing, a spokesman for City        Comptroller John Liu said on Friday, and Liu is willing to consider        approving the public subsidy.              The Democratic comptroller's spokesman, Scott Sieber, said Liu supported        the project. The center has sparked an intense debate over U.S.        religious freedoms and the sanctity of the Trade Center site, where        nearly 3,000 perished in the September 11, 2001 attack.              "If it turns out to be financially feasible and if they can demonstrate        an ability to pay off the bonds and comply with the laws concerning tax-       exempt financing, we'd certainly consider it," Sieber told Reuters.              Spokesmen for Mayor Michael Bloomberg, Governor David Paterson and the        Islamic center and were not immediately available.              The proposed center, two blocks from the Trade Center site in lower        Manhattan, has caused a split between people who lost relatives and        friends in the attack, as well as conservative politicians, and those        who support the project. Among those who support it are the mayor, civic        and religious groups, and some families of victims.              The mosque's backers hope to raise a total of $70 million in tax-exempt        debt to build the center, according to the New York Times. Tax laws        allow such funding for religiously affiliated non-profits if they can        prove the facility will benefit the general public and their religious        activities are funded separately.              The bonds could be issued through a local development corporation        created for this purpose, experts said.              The Islamic center would have to repay the bonds, which likely would be        less expensive than taxable debt.              New York City's Industrial Development Authority could not issue debt        for the center because the state civic facilities law, which governed        this type of financing for non-profits, was allowed to expire about two        years ago.              (Reporting by Joan Gralla; Editing by Dan Grebler)              --- PCBoard (R) v15.3/M 10        * Origin: (1:226/600)    |
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