Search Results for: Tax Exemption

Parking Facilities Ruled Exempt from Property Tax

Parking Lots associated with Greater Jamaica Development corporation challenged Finance’s withdrawal of tax exemption. Greater Jamaica Development Corporation and Jamaica First Parking, LLC, brought an article 78 petition against the Department of Finance and the New York City Tax Commission, challenging the City’s revocation of a charitable tax exemption for the public parking facilities they owned and operated. On appeal to the Appellate Division, Second Department, the court restored the tax exemption.

IDA approves $46M in tax and other benefits

Proposed office tower for 125th St. Image: Swanke Hayden Connell Architects.

Major League Baseball project in Harlem is among the beneficiaries. On March 6, 2008, the New York City Industrial Development Agency held a public hearing on proposed public subsidies to private entities, including a joint venture between Vornado Realty Trust and California Urban Investment Partners. The joint venture was established to build a 21-story office tower on 125th Street and Park Avenue, directly southwest … <Read More>

Council seeks to end MSG’s tax break

Resolution asks Albany to end Madison Square Garden’s property tax exemption. On January 30, 2008, the City Council passed a resolution calling upon the State legislature to revoke Section 429 of the State’s Real Property Law, which allows Madison Square Garden to receive a full property tax exemption.

The exemption dates back to 1982 and allows the Mayor to negotiate with the Garden to ensure the Knicks and Rangers continue to use the facility because … <Read More>

City Planning Hears Application for Four New Affordable Buildings in East New York

The sites are all located within a few blocks from each other. On March 30, 2022, the City Planning Commission held a public hearing for an application that would facilitate the construction of four new buildings with a total of 46 affordable units in East New York, Brooklyn. The four sites are located at 492-496 Glenmore Avenue, 2358-2362 Pitkin Avenue, 943 Dumont Avenue, and 743 Blake Avenue, as part of the Sutter Place Neighborhood Construction … <Read More>

City Planning Hears Application for Last Building of Ongoing Broadway Triangle Project

On March 16, 2022, the City Planning Commission held a public hearing for Bartlett Crossing Site A-2, one of the five buildings that comprises the larger affordable housing Broadway Triangle project. Broadway Triangle is an affordable housing development consisting of five buildings across four sites. Bartlett Crossing Site A-1 is located on Flushing Avenue between Harrison Avenue and Whipple Street. The other three sites, Site A-2, Site B and Site C are all located on … <Read More>