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Hochul donor in line for $1.2B tax break in Penn Station overhaul plan: watchdog

(NYPOST) Zach WilliamsDavid Meyer, July 14, 2022

A company headed by a big donor to Gov. Kathy Hochul is in line for up to $1.2 billion in tax breaks under her opaque plan to overhaul Penn Station — even though that plan might be billions short of the $7.5 billion to $10 billion needed to make it happen, a government watchdog charges.

The scathing report comes as legislators call for Hochul to restore oversight powers for such projects that were taken away by ex-Gov. Andrew Cuomo.

The report released Tuesday by Reinvent Albany charges that the governor is pushing a sweetheart deal with Vornado Realty Trust – led by billionaire chairman Steven Roth – even though her overall plan to transform the aging transit hub might be billions short.

“The state has not made public the necessary information to determine if the [financing plan] can be successful, including projections of costs and revenues,” reads the report.  

Source: NY Post