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Queens co-op and condo owners demand tax relief and expansion of J-51 program amid what they call ‘unfunded mandates’
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Astoria Post
Co-op and Condos United of New York (CCU) is demanding that the City Council provide tax relief to co-op and condo owners in Queens and across the city by adopting the J-51 program recently approved by the New York State Legislature.
LL97, passed in 2019, requires building owners to report their emissions to the NYC Department of Buildings each year.
However, co-op and condo owners argue these resources are not enough.
“The J-51 program is an essential financial lifeline that allows co-ops to make essential capital repairs without passing on exorbitant costs to shareholders,” said Jane Menton, legislative director of the CCU.
They argued that co-ops serve as one of the last attainable paths to homeownership for the middle class.