Michael Oreskes
May 30, 2026
The Trump administration has revived Andrew Cuomo’s plan to use payments from real estate development around Penn Station to help fund the rebuilding of the station itself.
“PILOTS are on the table,” reported the Manhattan Borough President, Brad Hoylman-Sigal, using the acronym for payments-in-lieu-of-taxes, a system that diverts city property taxes to a specified purpose, such as rebuilding the station.
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