Friday, November 04, 2005

Do NOT subsidize housing for rich people -- anywhere. No TIFs either, give their saga.

PIIN should be on this. Progressives should be on this. Pittsburgh Laurels & Lances - Lance: To PNC Financial Services Group. This very wealthy banking giant is looking for $48 million in public money to make its proposed $170 million Downtown office, retail and residential complex a reality. Normally, we'd call this an obscenity. Because it's a bank trying it, we'll call it what it is -- pornography. Taxpayers are not venture capitalists. Given the history of public subsidies and failures in the Golden Triangle, PNC should be ashamed of itself. As should the city's Urban Redevelopment Authority and Gov. Ed Rendell for entertaining this latest attempt at a public molestation.

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