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The End of an Era

The finances of Cooper Union are tangled up in real estate. Most significantly, the school receives money?the amount that would otherwise be paid in property taxes?from the land under the Chrysler Building. But now that Cooper Union has decided to charge tuition, will it be able to hang onto the Chrysler Building tax break that generates so much of its income? New York could try to get those property taxes back, but doing so would probably be the death of the institution. [Architect Magazine via Reuters]