#421a-program

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www.nytimes.com
3 months ago
New York City

Do Housing Developers Need a (Tax) Break?

The 421a program, which provided tax breaks for developers, expired in 2022, leading to a fight over its replacement.
The program was important for the construction of rental buildings in New York City, but now the focus is on building affordable apartments for moderate- and lower-income residents. [ more ]
www.nytimes.com
3 months ago
New York City

The Tax Break New York Relied on to Build Housing Is Gone. What's Next?

421a is a state program in New York City that provides property tax breaks to developers to build housing.
The 421a program is controversial, with proponents claiming it is essential for building rental properties and opponents arguing it is a giveaway for developers. [ more ]
therealdeal.com
3 months ago
NYC politics

Gov. Kathy Hochul to Unveil 421a Details in Executive Budget

Gov. Kathy Hochul to unveil executive budget
Mayor Eric Adams to propose financial plan for the city [ more ]
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