CHELSEA, Manhattan (PIX11) — On Tuesday, Gov. Kathy Hochul signed legislation to provide tax relief to residents of Penn South, an affordable cooperative housing community in Chelsea.
The tax cuts come amid rising operational costs, which threaten future affordability for residents.
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“This could result in savings upwards of $500 in tax savings for every household in Penn South,” said Hochul during a press conference. “President Kennedy asked us to keep and preserve this jewel for generations to come, and by making it more affordable for those who are proud to call Penn South home, we are on that path to keep the promise that President Kennedy asked us to do.”
Hochul recently announced extended financial relief for residents of Mitchell-Lama housing in New York City…