Sentences with phrase «percentage of affordable units»

The report found a significant drop in the percentage of affordable units in seven of the nine states where Freddie Mac financed the most rental units.

Three weeks ago, De Blasio and the Real Estate Board of New York agreed on a proposal that would extend the program while demanding that developers set aside a percentage of affordable units in buildings that receive the benefit.

De Blasio also wants to raise the percentage of affordable units to 25 or 30 percent, and he's proposed that Albany impose a «mansion tax» on condos, co-ops, and homes that sell for more than $ 1.7 million.

Quinn also presided over the council's approval of Bloomberg's Willets Point redevelopment in exchange for more affordable housing — delivering a higher percentage of affordable units than initially planned, though far less than opponents sought.

The exact percentage of affordable units is then hammered out between the administration, the City Council and the developer during the Uniform Land Use Review Procedure, a lengthy negotiation that occurs mostly behind closed doors.

MIH mandates that a percentage of affordable units built in rezoned neighborhoods must be affordable to households of certain earnings - for example, one option sets aside 20 % of units for those earning an average of 40 % of AMI, or about $ 31,00 for a family of three.

Cuomo announced he will advance legislation codifying into state law an agreement between organized labor and developers on a lucrative tax incentive program for developments that include a certain percentage of affordable units in New York City.

Each eligible project will get the same 35 years of benefits, except that the last 10 years of such benefits will be based upon each project's specific percentage of affordable units.»

Not exact matches

There's no one universal model for these policies, but they generally involve one of two things: a requirement that developers either make a certain percentage of their housing units available at below - market rates, or that has them pay a fee into a fund for affordable housing.

Common Council members say they back inclusionary zoning, which requires new housing to set aside a certain percentage of units as affordable housing.

As previously reported, the city's public advocate slammed Quinn's proposed property tax cap for buildings that pledge to reserve a certain percentage of units for affordable tenants.

The on - topic and off - topic questions in the Q&A portion of the press conference included: the project status when de Blasio took office and how his approach to affordable housing differs from Mayor Bloomberg, whether there are any differences in Phase I of the project as being initiated now versus as approved by the Bloomberg administration, what he sees as a realistic percentage of units being «affordable» in projects located closer to or in Manhattan, whether he counts this project towards his goal of 200,000 affordable units, the NYPD officer recently arrested in India, the status of speed camera approvals from Albany, the FOIL delays and responses which did not produce any emails or documents in the Findlayter case, the NYPD / FDNY hockey brawl, Queens Library President Thomas Galante and the newly elected leadership of NYSUT (the state teachers union).

Councilwoman Metzger said, «I would like to see consideration for some percentage of the units to be more affordable, or senior citizen housing,» but the Fakirises refused to commit to such a provision, saying that they set high standards for their tenants» creditworthiness and references.

He said one question that remains unanswered is the percentage of units that will be affordable and market rate.

Committee Chairman David Greenfield noted that the 27 percent of units set aside for below - market rents is the largest affordable housing percentage agreement in city history.

A special legislative committee of the Buffalo Common Council will hold a public hearing at 5:30 p.m. Tuesday on a proposed law requiring that new apartment developments set aside a certain percentage of their units as affordable.

«I believe the report must include an affordable housing component in the policy,» said Poloncarz, who favors a certain percentage of apartment units being offered at lower rents.

Rent charge is based on a percentage of the total household monthly income to keep the unit affordable.

In 1974, it passed the country's first inclusionary zoning law requiring most new housing developments to include a minimum percentage of units at affordable prices.