NoTeaPartyPleez
Gold Member
- Dec 2, 2012
- 11,826
- 1,913
- 245
Lyin' Trump....
After 9/11, Trump Took Money Marked for Small Businesses
4:02 PM, FEB 15, 2016 | By MICHAEL WARREN
After 9/11, Trump Took Money Marked for Small Businesses
"....
Not long after 9/11, the World Trade Center Business Recovery Grant program was established to help small businesses recover and rebuild. The program disbursed hundreds of millions of dollars through a New York state development corporation in the years following the attacks. But there were problems early on. In 2003, the New York Times reported the development corporation admitted to overpaying some firms and took back $1.2 million. A federal audit, the Times added, suggested at least $5 million had been overpaid by the end of 2003.
And in 2006, the New York Daily News ran an investigative piece about how the program had awarded grants to companies and subsidiaries that hardly seemed like "small businesses." Among them were Dell, Morgan Stanley, and, yes, Donald Trump. Here's the Daily News:
One couldn't tell from ESDC records, for example, that "40 Wall Street LLC" is owned by Trump. The Donald bills himself as the "largest real estate developer in New York," Last week, Trump sued a New York Times reporter for concluding in a book that the host of "The Apprentice" isn't a billionaire. But the ESDC's rules transformed Trump into a small-business man. His company collected a $150,000 grant for losses at 40 Wall St. The grant application describes the corporation through which Trump owns that building as having 28 employees and $26.8 million in annual revenues. That passed the ESDC's small business test of less than 500 employees. But the revenue amount would put the single Trump property over the federal definition of a small business - which is $6 million annually for lessors of nonresidential buildings. A Trump spokeswoman did not respond to a call and e-mail message seeking comment.
In 2005, Trump valued 40 Wall Street at $400 million, and the Trump Organization describes the building as an "impressive, landmark property." And as Trump said immediately following 9/11, none of his properties were directly damaged by the attack on the World Trade Center. But through a loophole in the rules, Trump was able to squeeze $150,000 of money from taxpayers for his valuable landmark property.
A Trump campaign spokeswoman did not respond to a request for comment.
After 9/11, Trump Took Money Marked for Small Businesses
4:02 PM, FEB 15, 2016 | By MICHAEL WARREN
After 9/11, Trump Took Money Marked for Small Businesses
"....
Not long after 9/11, the World Trade Center Business Recovery Grant program was established to help small businesses recover and rebuild. The program disbursed hundreds of millions of dollars through a New York state development corporation in the years following the attacks. But there were problems early on. In 2003, the New York Times reported the development corporation admitted to overpaying some firms and took back $1.2 million. A federal audit, the Times added, suggested at least $5 million had been overpaid by the end of 2003.
And in 2006, the New York Daily News ran an investigative piece about how the program had awarded grants to companies and subsidiaries that hardly seemed like "small businesses." Among them were Dell, Morgan Stanley, and, yes, Donald Trump. Here's the Daily News:
One couldn't tell from ESDC records, for example, that "40 Wall Street LLC" is owned by Trump. The Donald bills himself as the "largest real estate developer in New York," Last week, Trump sued a New York Times reporter for concluding in a book that the host of "The Apprentice" isn't a billionaire. But the ESDC's rules transformed Trump into a small-business man. His company collected a $150,000 grant for losses at 40 Wall St. The grant application describes the corporation through which Trump owns that building as having 28 employees and $26.8 million in annual revenues. That passed the ESDC's small business test of less than 500 employees. But the revenue amount would put the single Trump property over the federal definition of a small business - which is $6 million annually for lessors of nonresidential buildings. A Trump spokeswoman did not respond to a call and e-mail message seeking comment.
In 2005, Trump valued 40 Wall Street at $400 million, and the Trump Organization describes the building as an "impressive, landmark property." And as Trump said immediately following 9/11, none of his properties were directly damaged by the attack on the World Trade Center. But through a loophole in the rules, Trump was able to squeeze $150,000 of money from taxpayers for his valuable landmark property.
A Trump campaign spokeswoman did not respond to a request for comment.
