January 9, 2009
City: Tax breaks wouldn't travel with MSG
Cablevision, the owners of Madison Square Garden, want to keep their $10 million a year in tax breaks if they move across the street. It is a position that City Hall is dead against.
"We expect the tax break will not travel to any location,: Deputy Mayor Dan Doctoroff, the city's economic czar, told amNewYork Sunday.
Indeed, the Dolan family, the owners of Cablevision, are not popular around City Hall. Cablevision spearheaded the successful campaign to block the West Side stadium to the ire of Mayor Bloomberg.
The company declined to comment for this story but it was been widely reported Cablevision said it wants to keep its tax breaks -- in place since 1982 -- if it moves.
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Doctoroff remained hopeful that the tax issue wouldn't derail the Madison Square Garden proposal.
"When you add everything up, you are talking about a $6 billion project," he said. "I don't think the developers or Madison Square Garden should have a problem coming up with $10 million a year."
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Copyright © 2009, AM New York
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