30 Fifth Avenue

To All Shareholders of

30 Fifth Avenue Owners, Inc.

30 Fifth Avenue

New York, New York 10011

Re:      Cooperative Tax Abatement Program

NYC Dept of Finance

Dear Shareholder:

As in years past, the Department of Finance for the City of New York has instituted a program whereby qualified cooperative corporations made application for real estate tax abatement for real estate tax fiscal year 2015/2016. The total abatements granted by The City of New York were received by the 30 Fifth Avenue Owners, Inc. for the year credited and were applied against the quarterly real estate taxes due.  The cooperative corporation thereby paid a reduced real estate tax payment to the New York City Department of Finance.

Each Shareholder will receive a credit of approximately $7.2268 per share for the 2015/16 abatement that the corporation received, if the apartment is your primary residence. If you are the recipient of the STAR or Veteran abatements, you will note that the Co-op abatement is slightly lower.  If the apartment is not a primary residence, the cooperative tax abatement has been phased out pursuant to the City’s new program.

As in the past, the Board of Directors has approved the use of the abatement monies to offset budgetary needs. A one-time special assessment in the amount of $7.2268 per share will be imposed on your maintenance bill.  This assessment will negate the credit from the tax abatement described above.  Both the credit (abatement) and charge (assessment) will appear on your September 2016 maintenance bill.

We had advised everyone prior that the City had amended their program whereby the cooperative tax abatement is now phased out if your apartment is recognized by the City as a non primary.

If you have additional questions, please feel free to contact me at (212) 223-0550 x 202.

Very truly yours,

Lisa Jensen

President