City officials questioned on policy to protect New York’s industrial sector. On May 6, 2015 the City Council Committee on Land Use held an oversight hearing on industrial land use policy in New York City with a focus on protecting and encouraging the City’s industrial sector from encroaching alternative uses. In his opening remarks, Councilmember and Land Use Chair David Greenfield emphasized as ineffective the City’s policy of designating Industrial Business Zones without changing the … <Read More>
Council Member Brad Lander
City Council Holds Oversight Hearing on 421-a Program
HPD Commissioner Been, others testify on effectiveness of the program. On January 29, 2015 the City Council Committee on Housing and Buildings held an oversight hearing on the 421-a tax benefit program. The program, established in 1971 by the New York State Legislature, was designed to spur residential development of underused land by granting a property tax reduction to developers for a period of ten to twenty-five years, with an objective of increasing affordable housing … <Read More>