How Donald Trump Cashed in on 9/11

Source: Tessa Stuart, Rolling Stone, September 9, 2016

Some have raised objections to Trump applying for federal recovery funds, lobbied for by then Sen. Hillary Clinton….

……A not-insignificant chunk of that federal funding, $2 billion, was earmarked for distribution by the Lower Manhattan Development Corporation and the Empire State Development Corporation. About a quarter of that – some $500 million – was explicitly set aside for helping small businesses in the area recover. Among the 8,214 early recipients was 40 Wall Street LLC, the most valuable building in Donald Trump’s portfolio of properties, a skyscraper that sits less than a mile from Ground Zero. (An additional $350 million was later allocated to the same cause, bringing the total number of businesses impacted to more than 14,000.)

Trump applied for and accepted the money, despite the fact that – as he acknowledged in an interview with a German news show immediately after the attacks – the property “wasn’t, fortunately, affected by what happened to the World Trade Center.”

Technically, 40 Wall Street LLC (if not its parent company, the Trump Organization) did meet the criteria for the funds: It had fewer than 500 employees, and was located south of 14th Street. And, as the agency that administered the funds said, eligibility wasn’t necessarily determined based on damage incurred; rather, the goal was “to keep businesses and jobs from deserting the city and moving to other States or overseas.”

Still, Trump’s decision to take in recovery funds left some with a bad taste in their mouths. The New York Daily News ran an exposé on the subject in 2006, and earlier this year Rep. Jerrold Nadler, whose district includes Ground Zero, wrote an open letter to Trump demanding he return the money……