NYC Mosque Developers Face Tax Trouble
August 30, 2010 - 6:27 PM | by: David Lee Miller
Developers of the mosque and community center near Ground Zero in New York City face a growing financial burden.
The New York Post first reported that 45 Park Place Partners owed $224,270.77 in back real estate taxes and penalties, and that debt is growing by the day. The city charges an interest rate of 18 percent. The latest check of city records has upped the money owed by another $3,000, and unless someone writes a check and soon, the bill will continue to increase.
Sharif El-Gamal, a real estate developer involved in the planned mosque, did not return a call seeking comment, but earlier, his spokesman told the NY Post that all back taxes have been paid.
An official with New York’s Finance Department says the debt is still on the books, adding that at this point the developer does not have the tax exempt status afforded to not profit organizations.
According to city records, another tax bill for $97,118.18 will be due Jan. 1. That could put the developer in the red for more than $300,000 if past bills aren't paid.
But that total is relatively minor compared to the total cost of the development, about $100 million. The proposed Islamic center would rise 12 stories and would include a pool and auditorium, as well as the prayer space.