Essentially, the new deal stretched out the tax increase time, allowing the hotel to make payments in lieu of taxes that increase over the life of the deal. (timesunion.com)
Ultimately, lawmakers agreed to modest changes that allowed for growth in areas like payments in lieu of taxes. (nystateofpolitics.com)
Traditionally, the state funds have come in the form of a spin - up of money the state owes the city in payments in lieu of taxes for Empire State Plaza's exemption from local levies. (timesunion.com)