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    HPD Proposes to Implement Extension of Existing 421-a Affordable Housing Tax Abatement Program

    Uncategorized  •  Agency Rule  •  Citywide

    HPD brought charges of tenant harassment against an Aimco-owned building in the Upper West Side. Image credit: HPD

    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 via State Law from June 26, 2015.

    (more…)

    Tags : 421-a, affordable housing, RPTL 421-a
    Date: 03/29/2016
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