NYC Affordable Housing; The End of 421-a and the future of housing incentives
By Daniel M. Bernstein, Member, Rosenberg & Estis, PC New York City needs more housing and more affordable housing. The 421-a property tax exemption program,...
Tag : 421-a
Conforming the 421-a and MIH Programs
By James P. Power, Partner, and Patrick Sullivan, Special Counsel for Kramer Levin Many of our clients have asked us how they can avail themselves...
City may require developers to build homes for the homeless as part of 421-a
In a quiet move, Mayor Bill de Blasio’s office has added a new requirement to the 421a tax abatement program that now requires developers to...
State may cough up cash to salvage 421-a tax program
Governor Cuomo last week offered up a wage subsidy program for developers and union officials in an effort to revive the expired 421-a tax abatement...
Inclusionary housing programs crucial, but work better with 421a
By REBNY President John Banks The US Census Bureau announced last week that New York City’s population has grown to its largest size in recorded...
LaBarbera: 421-a is ‘dead’ and should not be revived ‘under any circumstances’
Despite a recent display of flexibility in regards to 421-a guidelines, the cityʼs affordable housing logjam seems no closer to a resolution. Calling the 421-a...
Rental builders feel financing squeeze over 421-a expiration
Two weeks after the expiration of the 421-a tax program, the effects of its demise are starting to be felt, and developers claim that it...
Cuomo, De Blasio unite on worries over expiration of 421-a
Governor Andrew Cuomo and Mayor Bill de Blasio haven’t agreed on a lot of things recently. They’ve sparred on issues involving income inequality and education...
Brace for impact of 421-a statute, MIH and issue of subsidies
By Daniel M. Bernstein, Venable LLP Residential developers operating in New York City today face a series of questions about whether their projects can proceed...
Study puts builders’ tax under the spotlight
A new study on the 421a tax program suggests that affordable housing could suffer a substantial blow in at least certain sections of the city,...