New York Assembly Chamber. Image Credit: CC-BY-SA-3.0/Matt H. Wade at Wikipedia

A proposed State bill seeks to give City broad flexibility to increase floor area ratio in residential developments. The New York Senate has introduced bill S6760 by including language in their budget resolution that will amend the State’s Multiple Dwelling Law to provide an exception for the floor area ratio (FAR) cap. Currently, the law provides for a floor area ratio not to exceed 12.0 in New York City. The amendment will introduce language to the provision that will allow exceptions to the 12.0 cap if otherwise provided under the Zoning Resolution of the City of New York. (more…)