6/3/17

Creative slumlordery

How Jared Kushner built a luxury skyscraper using loans meant for job-starved areas

Creative slumlordery. All legal. You just have to know the right people, who won't ask too many questions.

"They worked with state officials in New Jersey to come up with a map that defined the area around 65 Bay Street as a swath of land that stretched nearly four miles and included some of the city’s poorest and most crime-ridden neighborhoods. At the same time, they excluded some wealthy neighborhoods only blocks away.



The tactic — critics liken it to the gerrymandering of legislative districts — made it appear that the luxury tower was in an area with extraordinarily high unemployment, allowing Kushner Companies and its partners to get $50 million in low-cost financing through the EB-5 visa program."

Exploiting the EB-5 visa program. Imagine that. And this, from the son-in-law of the guy who is going to Save America From The Filthy Immigrants.

Sounds like a good 'Christian' move, doesn't it? Bet the prosperity preachers love it. Exploit the poor and line your pockets with cash.