A massive 4.5 million-sf expansion of the Carousel Center shopping complex in Syracuse, N.Y., a project called Destiny USA, allegedly failed to incorporate green building components that developers had promised the federal government—including LEED certification. As a result, the project could lose its tax-exempt status, which reportedly saved developer The Pyramid Cos. $120 million, and the firm could be penalized $2.3 million by the IRS.
Full story [1]
A massive 4.5 million-sf expansion of the Carousel Center shopping complex in Syracuse, N.Y., a project called Destiny USA, allegedly failed to incorporate green building components that developers had promised the federal government—including LEED certification. As a result, the project could lose its tax-exempt status, which reportedly saved developer The Pyramid Cos. $120 million, and the firm could be penalized $2.3 million by the IRS.
Links:
[1] http://www.greenbuildinglawupdate.com/2011/02/articles/legal-developments/unprecedented-green-building-dispute-could-cost-developer-1223-million/