Lauren Feiner: Alphabet's Sidewalk Labs wants a cut of Toronto taxes to build a smart city there

Alphabet's Sidewalk Labs proposed taking a portion of Toronto property taxes, development fees and increased land value to build a smart city on the eastern waterfront, The Toronto Star reported.

According to internal documents obtained by the Star, Sidewalks Labs plans to argue it is "entitled to … a share in the uptick in land value on the entire geography ... a share of developer charges and incremental tax revenue on all land."

This money, which would amount to an estimated $6 billion over 30 years, would otherwise go to the city, according to the Star.

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