$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.

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Updated: January 16, 2014 — 4:53 pm

2 Comments

  1. Where is republican conservatism? Republican party conservatism is displayed in the tiny commitment of 3.3% of the cost of the building which the democratically controlled city contributed some of said 3.3%.

    In comparison, the city of Phila owns 36% of the Lincoln Financial Field (Eagles) and cost 512 million. Citizens Bank Park (Phillies) cost 346 million, more than 50% public money. The Chester soccer stadium cost 414 million of which 77 million (19%) is public money. 30 million of the 77 million came from Delaware County and the City of Chester.

    Apparently money for the poor and the Chester schools is only a problem for a republican governor and never a concern when a democratic governor is in charge. In addition to the 77 million, some unknown additional public money was contributed by the Delaware River Port Authority from bridge tolls.

    At 3.3% Tom Corbett is some kind of tightwad, wouldn’t you say?

    EDITOR: Through campaign contributions and other ploys, special interests manipulate both political parties to serve their purposes. If we amended the Constitution to limit campaign funds, the public would be better served.

  2. Rather than limit campaign funds, lets do away with campaigns, at least for the US Senate, by repealing the seventeenth amendment and reverting back to article 1 section 3 of the constitution. (Editor’s note: The state legislatures selected the senators.)

    I never did understand why it costs so much for television / radio time. All time should be free since we (the people) own the airwaves and those airwaves are there primarily to serve the people.

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