Sentences with phrase «city affordable housing tax»

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Amazon has suspended part of its expansion plans in Seattle, pending the outcome of a City Council vote on a new tax on large employers that would fund programs aimed at providing affordable housing and helping the homeless.

Amazon halts an expansion effort in its hometown as the Seattle City Council prepares to vote on a new tax that would be levied on large business to pay for affordable housing and homeless - assistance programs.

Seattle's goal is to raise $ 75 million from taxes, three - fourths of which will be used to build 1,800 affordable housing units in the city.

The tax — which could cost large employers $ US500 per employee annually — aims to alleviate the city's affordable housing and homelessness crises.

The e-commerce giant has paused construction of its newest tower in its headquarters city after the City Council proposed a tax on the largest businesses to help fund affordable houscity after the City Council proposed a tax on the largest businesses to help fund affordable housCity Council proposed a tax on the largest businesses to help fund affordable housing.

«An Oxford graduate and Rhodes Scholar, he is brilliant, articulate and has wonderful values — especially regarding affordable health care and housing, quality education, environmental protection, social justice, tax reform, greening our cities and protecting area farms.

Also at 11 a.m., NYC mayoral candidate Sal Albanese holds a press conference on the increase in homeless students and outlines a plan for «truly affordable housing» and a pied - a-terre tax, outside City Hall gates, Broadway and Murray Street, Manhattan.

Negotiations in Albany were also bogged down over how to divide increased education funding, the details of an affordable housing and development tax credit in New York City and whether to increase the number of authorized charter schools.

The mayor is still missing a new version of the 421a building tax credit — the gas for his affordable housing engine — but the rule changes have potential to permanently change both the city's rental market and its physical terrain.

The new tax — dubbed the «Amazon Tax» by locals — will fund affordable housing and homeless services in a city whose economic boom, driven in no small part by Amazon, has priced many residents out of the area and forced some onto the streets.&raqtax — dubbed the «Amazon Tax» by locals — will fund affordable housing and homeless services in a city whose economic boom, driven in no small part by Amazon, has priced many residents out of the area and forced some onto the streets.&raqTax» by locals — will fund affordable housing and homeless services in a city whose economic boom, driven in no small part by Amazon, has priced many residents out of the area and forced some onto the streets.»

Any condo or co-op unit valued at more than $ 1.75 million would be subject to a new city «mansion tax,» the revenues of which would be dedicated to further affordable housing construction and preservation.

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.

Heastie said there are also agreements on an affordable housing tax credit for New York City developers and a proposal to raise the age of criminal responsibility from 16 to 18.

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 Offcity about $ 1.1 billion in foregone tax revenue in 2013, according to the New York City Independent Budget OffCity Independent Budget Office.

State and City official gathered this week to celebrate the opening of George T. Douris Tower, a 15 - floor, 183 - bedroom affordable senior housing complex on Hoyt Ave. New York State Homes and Community Renewal (HCR) worked with an impressive array of partners, and provided coordinated resources from the Low Income Tax Credit program and the Homes for Working Families program to support the development.

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.

On topic questions included whether the administration plans to increase low - income affordable housing production, what actions are required for the administration to count a unit of housing as «preserved», whether housing built with 421 (a) tax credits anywhere in the City should require affordable units, how the de Blasio administration counts housing underway at the end of the Bloomberg administration toward its goal, what was done in this housing complex to «preserve» these units, whether units counted as «preserved» are always on a 30 year agreement, the annual average of 20,000 units created or preserved as set forth in the mayor's ten year goal of 200,000 such units and how money was spent on the 17,000 units created or preserved in 2014.

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.

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.

In an effort to preserve a valuable affordable housing resource, the City Council is proposing to end property taxes for the nearly 1,300 limited - income...

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 housCity 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 houscity'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.

Now Flanagan says a similar system should be in place in the city — a move opposed by Mayor Bill de Blasio, whose administration uses tax revenue to build 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.

The reform legislation we secured remains the basis of the current 421 - a negotiations that we are hopeful will revive this critical tax abatement program and spur the development of affordable housing our city desperately needs.»

He plans to join City Real Estate Advisors, a private - sector firm that connects affordable housing developers with tax credits and equity.

At the time, de Blasio and REBNY were pushing for a 421 - a revamp that would have required any building in the city that received the tax benefit to reserve some units for affordable housing, as opposed to simply imposing it in parts of the city.

that would have required any building in the city that received the tax benefit to reserve some units for affordable housing, as opposed to simply imposing it in parts of the city.

New York City Mayor Bill de Blasio sought to expand affordable housing in a 421a tax abatement renewal, but did not include a prevailing wage component for the construction industry, though a service industry prevailing was included.

Meanwhile, Cuomo called for an extension of rent control regulations for New York City as well as the 421a real - estate tax abatement, which he called crucial to affordable housing.

Developers, bankers and de Blasio administration officials said they were told in meetings with aides to Cuomo the city would lose a sizable share of up to $ 900 million a year that the state provides in federal tax - exempt bonds for affordable housing projects in the five boroughs.

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.

The NYC Council is proposing to eliminate property taxes for the city's 1,271 limited - income co-ops in exchange for tighter rules, an effort designed to preserve an unusual affordable - housing resource in the city.

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.

Bottom line, thanks to de Blasio's persistence: For the first time since 421 - a launched in the 1970s, developers must include affordable housing in their projects in order to claim the tax relief, wherever in the city a project is located.

ALBANY — Mayor Bill de Blasio may have come to the Capitol on Tuesday to ask state lawmakers for help with affordable housing programs and homeless shelter allowances, but he found himself forced to answer a barrage of questions about an unexpected issue as more than a half - dozen lawmakers pressured him to allow a property tax cap in the city.

Two veteran Democrats are challenging Mr. de Blasio in the primary: Tony Avella, a state senator from Queens who has challenged the mayor's approach to homelessness and fought for a Staten Island family trying to keep a large pig as a pet; and Sal Albanese, an Italian - born lawyer and former City Councilman from southwestern Brooklyn who, in his third mayoral run, has argued for a new tax on nonprimary residences — a «pied - à - terre» tax — to help fund affordable housing.

Mayor Bill de Blasio on Monday proposed a so - called mansion tax of 2.5 % on homes of $ 2 million or more to help generate money for affordable housing in the city.

The governor also did not deny that he was the «top Cuomo administration official» quoted in the Daily News questioning de Blasio's strategy as he pushed to renew his control of the city's schools and restructure and reauthorize a real estate tax subsidy to help him build more affordable housing.

He added that the law would also hit the city indirectly «lowering the corporate tax rate to 21 % devalues low - income housing tax credits, which could impact our affordable housing plan by some $ 200 million annually.

In an effort to preserve a valuable affordable housing resource, the City Council is proposing to end property taxes for the nearly 1,300 limited - income co-ops in New York City in exchange for tighter regulations at those buildings.

The tax is projected to raise roughly $ 200 million per year, which will help plug a $ 1.9 billion gap in the mayor's $ 42 billion affordable housing plan, city officials said.

... There's a lot of evidence out there that the housing market is slowing; we're not going to be able to create the kind of affordable housing that we need in the city if we don't have a tax credit program that's appropriate and really focuses on affordability.

More than 1,300 affordable housing developers, advocates, and industry leaders attended the New York State Association of Affordable Housing's (NYSAFAH) 12th Annual Conference in New York City where HCR's Arnie Adler, Director of the Low - Income Housing Tax Credit Program, was named Advocate ofaffordable housing developers, advocates, and industry leaders attended the New York State Association of Affordable Housing's (NYSAFAH) 12th Annual Conference in New York City where HCR's Arnie Adler, Director of the Low - Income Housing Tax Credit Program, was named Advocate of thhousing developers, advocates, and industry leaders attended the New York State Association of Affordable Housing's (NYSAFAH) 12th Annual Conference in New York City where HCR's Arnie Adler, Director of the Low - Income Housing Tax Credit Program, was named Advocate ofAffordable Housing's (NYSAFAH) 12th Annual Conference in New York City where HCR's Arnie Adler, Director of the Low - Income Housing Tax Credit Program, was named Advocate of thHousing's (NYSAFAH) 12th Annual Conference in New York City where HCR's Arnie Adler, Director of the Low - Income Housing Tax Credit Program, was named Advocate of thHousing Tax Credit Program, was named Advocate of the Year.

To the relief of New York City officials, the budget did not include Mr. Cuomo's proposal to give a state agency veto power over individual affordable housing projects paid for with federal tax - exempt bonds the state gives to municipalities.

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.

Every year, New York City officials rely on a stream of federally tax - exempt bonds to fund their affordable housing projects.

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.

A 1986 agreement involving the state, City Hall and the city controller guaranteed that the hefty surplus generated from ground leases and payments in lieu of taxes would go toward affordable housing and other capital needs in the cCity Hall and the city controller guaranteed that the hefty surplus generated from ground leases and payments in lieu of taxes would go toward affordable housing and other capital needs in the ccity controller guaranteed that the hefty surplus generated from ground leases and payments in lieu of taxes would go toward affordable housing and other capital needs in the citycity.

Williams, who is currently focused on running for City Council speaker, said as Cuomo helped resurrect a lucrative affordable housing tax credit for rich developers, the city and state have lost thousands of rent - regulated apartmeCity Council speaker, said as Cuomo helped resurrect a lucrative affordable housing tax credit for rich developers, the city and state have lost thousands of rent - regulated apartmecity and state have lost thousands of rent - regulated apartments.

Multiple Assembly Democrats decried the tax credit as a lucrative giveaway to well - heeled developers, while supporters said it will lead to the much - needed construction of affordable housing in the city.