A long-standing feature of American tax policy is the exemption granted to nonprofit organizations, the largest of which is the exemption from local property taxes. The exemption, with origins back to the 18th century, is widespread. Among the 50 states, 17 state constitutions mandate property tax exemptions for charitable organizations, 25 authorize the legislature to give exemptions, and eight do not address the issue. New York State establishes two classes of exemptions for nonprofits: … <Read More>
Search Results for: Rental Assistance
Council Approved Rheingold Development with a 30 Percent Affordable Housing Requirement
Controversial Bushwick development project questioned on affordable housing goals in public hearings. On December 10, 2013, the full City Council voted 48-1 to rezone six blocks in Bushwick, Brooklyn, in order to allow the development of ten mixed-use developments. The rezoning area is bounded by Bushwick Avenue, Flushing Avenue, Melrose Street, Stanwix Street, and Forrest Street. Council’s Committee on Land Use voted 18-1 and Land Use Subcommittee on Zoning and Franchises unanimously voted 10-0 … <Read More>
Second Ave. mixed-income housing project heard
- Courtesy – GF55 Architects
Developers would offer home ownership opportunities to low-income tenants displaced by twelve-story project. On February 16, 2011, the City Planning Commission heard testimony on the Department of Housing Preservation and Development’s proposal to allow BFC Partners and the Urban Homesteading Assistance Board (UHAB) to build a twelve-story affordable housing development in the East Village. The 65-unit project would replace two mixed-use buildings at 9 through 17 Second Avenue between East 1st … <Read More>
Development plan for 5.5- acre Flushing site approved
Municipal parking lot would be replaced with multi-building development offering market-rate and affordable housing and 1.5 acres of open space. On June 23, 2010, the City Planning Commission approved two separate but related proposals that would facilitate the redevelopment of a 5.5-acre, 1,101-space municipal parking lot bounded by 37th and 39th Avenues and Union and 138th Streets in downtown Flushing, Queens. The Commission approved the City Economic Development Corporation, Rockefeller Group Development Corporation, and TDC … <Read More>
Local Law to preserve housing preempted
Affordable housing programs controlled by federal and state law. After multiple hearings on the declining number of affordable housing units, the City Council passed Local Law 79 of 2005 over a mayoral veto. The law gave tenants the right of first refusal to purchase their buildings when the owners sought to remove the properties from certain assisted rental housing programs. The law also allowed tenants who did not purchase their building to stay in their … <Read More>