Sentences with phrase «affordable housing tax break»

With time running short, developers and labor will take another crack this week at trying to cut a deal to extend an expiring affordable housing tax break.

The effort to revive the lucrative 421 - a affordable housing tax break for developers appears doomed this year.

Not exact matches

Including a change to a developer tax break known as 421 - a which would have allowed for more affordable housing.

Hevesi says the homeless projects are caught up in a larger dispute over how to renew a special tax break for real estate developers who include affordable housing in their projects, known as 421a.

At Pratt, he led many successful community - planning efforts, as well as campaigns to expand affordable housing and create NYC's «inclusionary zoning» program, which requires developers seeking tax breaks to set aside 20 percent of their units for low and moderate income families and pay a living wage to their service workers.

Take the recent battle in Albany over the expiration of rent regulation and 421a, which gives tax breaks in exchange for allocating some units as affordable housing.

As an Assemblymember, Kavanagh authored some of the most important bills to strengthen rent laws and expand tax breaks to freeze rents and keep housing affordable for seniors and people with disabilities.

With the tax break coming up for its four - year renewal in Albany, the administration has rolled out a proposal that would end the GEA and require affordable housing in rental buildings in the program citywide, while eliminating the exemption for condominiums.

He said tax dollars should go directly to creating affordable housing, rather than «some cockamamie tax break.»

After negotiations to reform and extend the controversial 421a tax break for housing developers collapsed last week, Mayor Bill de Blasio and Gov. Andrew Cuomo said they would both make finding a new way to spur affordable housing a priority this year.

Meanwhile, the new 421 - a program, which gives a tax break to developers in exchange for affordable housing, no longer helps residents of the community where the project is built.

Association for Neighborhood & Housing Development, a housing advocacy group, said the tax break doesn't go far enough to encourage the creation of affordable hHousing Development, a housing advocacy group, said the tax break doesn't go far enough to encourage the creation of affordable hhousing advocacy group, said the tax break doesn't go far enough to encourage the creation of affordable housinghousing.

And tens of thousands of families are demanding an end to tax breaks that don't give us affordable housing in return.

Plus, candidates for supervisor and Town Board spar over tax breaks for the Glasco affordable housing development, the Opus 40 preservation effort, and property taxes.

A plan to revive a lucrative property tax break, whose expiration has sparked a long battle among developers, construction unions, affordable housing activists and politicians, will be included in Gov. Andrew Cuomo's budget this week, according to three sources familiar with the arrangement.

The messy end of session also includes agreements on short extenders — one additional year for mayoral control of the New York City schools, and a six month extension of a tax break for real estate developers who build some affordable housing.

The 421 - a tax credit that gives developers a tax break for setting aside 20 percent of a building for affordable housing will continue for four years.

«If Albany will not give us the changes we need, if Albany will not strengthen rent regulations, if Albany will not pass a mansion tax, if Albany will not protect us, then here's what I think about any tax breaks for condominiums, luxury condominiums, any tax breaks for developers who are not going to create affordable housing — I say end those tax breaks once and for all,» he told congregants at First Corinthian Baptist Church in Manhattan, according to a recording provided by a spokesman.

The tax break, which advocates say hastens the creation of affordable housing and encourages residential development at a time when it's desperately needed, cost the city about $ 1.1 billion in foregone tax revenue in 2013, according to the New York City Independent Budget Office.

Developers argue the tax break is necessary for the city to build affordable housing and meet Mr. de Blasio's ambitious construction goals, especially as the cost of land skyrockets.

Glenwood received tax breaks for affordable housing as well as having new buildings and Silver oversaw the distribution of those breaks as the head of the Assembly.

421a, a tax incentive first passed by the New York State Assembly in the 1970s, provided developers with significant tax breaks to construct new residential buildings, often without providing any affordable housing.

The Stagg Group and its consultant, Carrión, initially told local elected officials and Community Board 8 leaders that the building at 5731 Broadway would be dedicated mostly to «market - rate» housing, with some set - asides for «affordable» housing, and filed for a tax break with the city.

Silver has also been viewed as instrumental in securing tax breaks for Billionaire's Row skyscrapers such as One57 in return for affordable housing being built offsite.

He pointed to his support of adding more affordable housing to the controversial Rheingold Brewery site and a state tax break for Knickerbocker Commons, 217 Wyckoff Ave., a new affordable building with 24 units.

It remains to be seen how these new goals will play out, in conjunction with the newly rebooted 421a (dubbed Affordable New York), which gives developers a 35 - year break from taxes, as well as the mayor's Mandatory Inclusionary Housing program.

Tax breaks at One57 cost the city $ 65.6 million in property tax revenue, for instance, while creating just 66 affordable housing units in the Bronx, according to a recent report from the city's Independent Budget OffiTax breaks at One57 cost the city $ 65.6 million in property tax revenue, for instance, while creating just 66 affordable housing units in the Bronx, according to a recent report from the city's Independent Budget Offitax revenue, for instance, while creating just 66 affordable housing units in the Bronx, according to a recent report from the city's Independent Budget Office.

New York City Mayor Bill de Blasio came to Albany to meet with Cuomo and legislative leaders to push for reform and renewal of the city's rent control laws — which impact around two million people — and a related property tax break for developers who set aside some of their new dwelling s for affordable housing.

And Cuomo's feud with Mayor de Blasio stalled the city's receipt of nearly $ 2 billion in new housing funds, failed to revive an affordable - housing tax break and limited de Blasio's control over city schools to one year.

Proposed changes to a property - tax break called 421 - a — most notably a requirement that all developers include affordable housing in new projects receiving the benefit — would not stifle construction activity in New York City, according to a study released today.

Without the tax break, known as 421 - a, New York City may have to spend more to subsidize affordable housing, or risk allowing de Blasio's housing target to go unmet.

It's official, the 421 - a tax break meant to encourage the construction of affordable housing in NYC has expired.

NYC Mayor Bill de Blasio's affordable housing plan could be negatively impacted by the lack of a deal on extending the 421 - a tax break program.

The three developers that are among the subjects of the subpoena all have received lucrative affordable housing grants or tax breaks from the state's affordable housing agency, the Department of Homes and Community Renewal — including some for projects that HCR staff initially scored lower than those of competitors.

De Blasio blasted Cuomo's efforts to kill his overhaul of a massive tax break for housing developers — even though he ultimately got most of the affordable housing mandates he wanted in the 421 - a program.

Mr. de Blasio once again criticized Gov. Andrew M. Cuomo's proposal to replace 421 - a, the expired tax break program that encouraged the construction of affordable housing.

The officials — including Borough President Scott Stringer, State Sen. Daniel Squadron and Council Speaker Christine Quinn — recently filed court documents arguing that the 1,331 - unit complex, which was built as affordable housing but now commands luxury rents, should be rent - stabilized because owner Laurence Gluck received a tax break.

Glenwood has relied on the Senate Republican conference as a bulwark for several key issues it has before the Legislature, including a lucrative tax break given in exchange for the building of affordable housing.

«No more tax breaks without building affordable housing in return,» de Blasio said.

Joseph Strasburg, president of the landlord - backed Rent Stabilization Association, dismissed DiNapoli's report and said expanding tax breaks and subsidies to developers would do more to expand affordable housing.

Also set to expire, a tax break for large real estate developers who agree to set aside some of their projects for affordable housing, and mayoral control of the New York City schools.

New York City's rent regulations expire next week, along with a property tax break for real estate developers who agree to set aside some of their project for affordable housing, known as 421a.

He admits a six - month extender of the real estate tax break is under consideration, because he says he does not want to see a program that provides some affordable housing «expire.»

De Blasio said Cuomo only wants a one - year extension of the current 421 - a program, which he criticized for providing tax breaks for luxury condos without requiring more affordable housing.

«No more tax breaks without building affordable housing in return,» Mr. de Blasio, a Democrat, said in a statement.

The 421 - a program provides tax breaks for developers who provide affordable housing as part of their newly constructed buildings.

Renews for five years the 421a tax break to promote both middle - class and «affordable housing» construction in the city.

CIVIC CENTER — The city is «under budget» and «ahead of schedule» on its affordable housing goals, officials said on Tuesday — but because of Gov. Andrew Cuomo and Albany's inaction on restoring the popular 421 - a tax break for developers, crucial elements of their housing plan are «definitely at risk.»

The governor's latest proposal to extend the 421 - a property tax break to spur affordable housing construction would cost the city $ 820 million more than it had planned over 10 years.

Also set to expire — a tax break for large real estate developers who agree to set aside some of their projects for affordable housing, and mayoral control of the New York City schools.