City Council's Finance Committee wants to revoke Madison Square Garden's $17.3 million property tax break. They approved a resolution to ask Albany to revoke the exemption at a hearing today. The break dates to the '80s, when the city feared it might lose the Rangers and Knicks, but it has cost the city about $300 million. MSG says they should get to keep it since other arenas have similar tax breaks, but no one on City Council likes MSG these days. They just want it to GTFO of Midtown so Penn Station can be improved. [Crain's; previously]
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