GROUND RENT AT-A-GLANCE
Taxes and fees paid by battery park city residents
Battery Park City Residents pay more fees and taxes than others in Lower Manhattan. Ground rent, in particular, is a contractual fee charged by the Authority.
authority gives corporations a better deal than residents
The Ground Rent is a contractual fee between the Authority and residents. In 2022, the BPCNA uncovered buried in the Authority's bond reports that they have frozen the ground rent for corporations like Brookfield to 0% through 2069, while planning on increasing the ground rent for the 16,000 residents by 200%. Why is the Authority giving corporations a better deal than the people it is supposed to govern?
WE HOPE OUR ELECTED OFFICIALS WILL CONTINUE TO ADVOCATE ON BEHALF OF OUR COMMUNITY
We believe that the residents of BPC deserve as good of a deal as corporations. In the Authority's bond reports, they note that corporations like Brookfield have teams of lawyers who help them negotiate a better deal. Residents do not and are left getting the short end of the stick.
