Chicago Owe's Trump $1M in tax refunds

[jezz]

Apparently Chicago is this corrupt.

The Cook County state's attorney is seeking to block a $1 million tax refund that the Illinois Property Tax Appeal Board ruled is owed to former President Trump on his Chicago skyscraper's 2011 tax bill.

The tower case centers around the value of the skyscraper's hotel rooms and retail spaces, including vacant storefronts along the Chicago River.

Last month, the state property tax board voted 5-0 that the value of the Trump International Hotel & Tower had been overassessed, thus leaving Trump eligible for a refund totaling $1.03 million.



The tax breaks had been sought on behalf of Trump by the law firm Klafter & Burke, formerly run by Chicago Alderman Edward Burke (D).

Read the full story here: www.msn.com/en-us/news/politics/chicago-owes-trump-241m-tax-refund-states-attorney-mounts-legal-challenge/ar-AAMNlZf?ocid=uxbndlbing

This is what the NYPost says: nypost.com/2021/07/31/chicago-trying-to-block-a-1m-tax-rebate-on-trump-building/

[peeves]

If he's due the rebate give it to him. Seems he can't get a break lately..have to feel sorry for Trump sometimes. NOT.

There was a lot of controversy re his sign at the time also the financing with Deutsche Bank.

"In October 2013, Trump received approval to erect 20-foot-tall (6.1 m) stainless steel letters back-lit with white LED lighting spelling out TRUMP on the 16th floor of the building. He made his impending plans for the sign public in February 2014.[31] According to a city planning department spokesperson, standard protocol for such a sign is to require approval from the local alderman (Brendan Reilly, 42nd ward) and the full Chicago City Council.[32] The five letters span a width of approximately 141 feet (43 m), making the final approved version approximately 2,800–2,891 square feet (260.1–268.6 m2), according to some sources – rather than the originally proposed size.[30][33] The sign is about 200 feet (61 m) above ground level.[34]

Crews began hanging the sign in May 2014.[35] When Chicago Tribune architecture critic Kamin warned Trump that his review of the sign would be unfavorable, Trump responded "As time passes, it'll be like the Hollywood Sign"; architect Smith distanced himself from the sign saying "Just for the record, I had nothing to do with this sign!"[32] The controversy surrounding the sign drew attention in the national press and international press as it neared completion and the Associated Press ran a story about Mayor Emanuel's disapproval in mid-June.[33][36] According to the Mayor's spokeswoman Kelley Quinn, "Mayor Emanuel believes this is an architecturally tasteful building scarred by an architecturally tasteless sign".[37] Kami"

On November 10, Deutsche Bank demanded the outstanding loan payment and the $40 million guarantee.[119] Trump filed suit later that month against Deutsche Bank in New York State Supreme Court in an effort to excuse a repayment of more than $330 million that had been due November 7, and to extend the construction loan for an unspecified period of time because of extenuating circumstances arising from the financial crisis of 2007–2010.[119] Trump cited a "force majeure" clause that allowed the borrower to delay completion of the project under a catch-all section covering "any other event or circumstance not within the reasonable control of the borrower".[117] Trump not only sought an extension, but sought damages of $3 billion from the bank for its use of predatory lending practices to undermine the project and damage his reputation, which he claimed "is associated worldwide with on-time, under-budget, first-class construction projects and first-class luxury hotel operations."[117] At the end of November, Deutsche Bank countersued Trump to force him to uphold his personal payment guarantee from February 2005, after he failed to repay the amount due November 7—a date that already had been extended.[119] The suits did not interfere with Trump's ability to continue drawing on the credit line provided by Deutsche Bank, because without the project's continued financing, Deutsche Bank may have had to assume the role of develope

en.wikipedia.org/wiki/Trump_International_Hotel_and_Tower_(Chicago)

[jezz]

So this is about the dislike of a sigh? Really how petty and narrowminded.