NYC Proposes 10-Year Permit Extension for MSG, Requires Collaboration on Penn Station Upgrade

New York City officials have proposed a 10-year extension for Madison Square Garden's operating permit, allowing it to remain atop Penn Station. The proposal includes requirements for aesthetic upgrades to the surrounding area and collaboration with the MTA on the planned $7 billion overhaul of the transit hub. The Garden's owner, James Dolan, would need to work with the MTA once plans for Penn Station's reconstruction are 30% complete. The proposal also calls for improvements to streets, public spaces, and signage around the arena. The extension would not affect the venue's property tax exemptions. The proposal will be voted on by the Department of City Planning, followed by the City Council's decision.