The modified East New York Rezoning includes such deep levels of affordability that Council Members referred to the rezoning plan as a “unicorn,” though all hope to use it as an example for future rezonings. On April 14, 2016, the City Council Subcommittee on Zoning and Franchises and Committee on Land Use held back-to-back meetings on the Department of City Planning’s East New York Rezoning Plan, which would affect the greater East New York area … <Read More>
affordable housing
New York State Assembly Housing Committee Chair Keith Wright Proposes Bill to Subsidize Affordable and Senior Housing
The bill seeks to fill the gap left open by the expiration of 421-a, the decades-old tax exemption program that expired on January 1, 2016. On March 15, 2016, New York State Assembly Housing Committee Chair Keith Wright, who represents Manhattan, introduced Assembly bill A9537, which would provide for new, taxpayer-funded affordable housing subsidies and job training programs. If enacted, the bill would incentivize the construction of affordable housing and affordable senior housing through subsidies, … <Read More>
HPD Proposes to Implement Extension of Existing 421-a Affordable Housing Tax Abatement Program
The “421-a Extended Affordability Program Rules” would provide a 10 to 15 year extension to eligible buildings enrolled in the program prior to its expiration. On March 14, 2016, the Department of Housing Preservation and Development proposed two agency rules to extend the 421-a real property tax exemption program for those who already had been benefiting from the program prior to its expiration in June 2015. The State authorized HPD to promulgate the new rules … <Read More>
Full Council Passes Mandatory Inclusionary Housing and Zoning for Quality and Affordability Proposals by an Overwhelmingly Majority Vote
Despite disruption from Council public gallery, the modified plans were adopted without suspense. On March 22, 2016, the City Council voted to approve Mayor Bill de Blasio’s Mandatory Inclusionary Housing and Zoning for Quality and Affordability proposals at its stated meeting. The full vote follows extensive modifications by the Council to the original plan. The approved text amendments are significantly different from the earlier versions voted on by the Community Board and City Planning. For … <Read More>
Mandatory Inclusionary Housing and Zoning for Quality and Affordability Proposal Modifications Approved by Council on March 17, 2016
The City Council Subcommittee on Zoning and Franchises and Committee on Land Use voted to approve the Mayor’s Mandatory Inclusionary Housing and Zoning for Quality and Affordability proposals with modifications. CityLand created a comprehensive chart outlining the modifications made to MIH and ZQA and approved by the Council.
City Council Hears Testimony on Mayor de Blasio’s East New York Rezoning Proposal
Council Members expressed concern-ridden comments on the proposal’s plans for neighborhood job programs and the proposed housing’s lack of deep affordability levels. On March 7, 2016, the New York City Council Subcommittee on Zoning and Franchises held a public hearing on the East New York Community Plan. If approved, the Plan would make East New York, and portions of Cypress Hills and Ocean Hill, located in Brooklyn, the first area to be rezoned under Mayor … <Read More>