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Unprecedented green building dispute could cost developer $122.3 Million

February 23, 2011 |

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 governmentincluding 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.

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