$40 Million of public funds: Comcast to build second, taller Phila. skyscraper
PHILADELPHIA INQUIRER: Six years after Comcast Corp. moved into the city’s tallest building, the cable-TV and Internet giant expects to break ground this summer on an even taller, more dazzling, $1.2 billion tower…
One of the world’s leading architects, Britain’s Norman Foster, has designed the trophy building with a host of innovative features. Comcast announced the project Wednesday with Gov. Corbett, Mayor Nutter – via a video link from Seattle, where he was attending a conference – and Council President Darrell L. Clarke…
The city and state have committed $40 million in grants to the project, officials said. At 59 stories, the new tower will have about 1.5 million square feet of rentable space… (more)
EDITOR: Talk about ‘alms for the rich.’ Between such absurd giveaways of today’s tax revenues and pledging future taxes to pay off current investments under CRIZ, will anything be left for education and other vital needs?
Whatever happened to Republican Party conservatism? Now it appears to be all about picking the pockets of the middle class and the poor.
Isn’t it enough that Comcast socks us with huge CABLE bills without it obtaining public subsidies?
We need a federal law prohibiting states and cities from funding new development. It is at great public costs and is of zero overall benefit.