BSA Vested Rights Decision Upheld by First Department

First Department recognized retroactive validation of a permit.  In 2005, the Board of Standards and Appeals denied recognition of GRA V, LLC’s common law vested right to perform work under a Department of Buildings permit on the grounds Buildings deemed the underlying permit invalid.  (See CityLand’s extensive previous coverage here.)  A common law vested right occurs when a developer performs substantial work in reliance that the underlying permit or zoning is valid.  In 2011, … <Read More>


City Council Approves Tax Exemption to Preserve Affordable Housing

Dean Atlantic HDFC received property tax exemption for seven buildings.  On August 21, 2014, the City Council voted 47-0 to approve an Article XI property tax exemption on seven buildings owned by the Dean Atlantic Housing Development Finance Corporation.  The Department of Housing Preservation and Development requested the exemption from the City Council on Dean Atlantic’s behalf.  The buildings are all in Brooklyn Community Board 16, covering the Ocean Hill and Brownsville communities.  Six … <Read More>