In a change from last year, the administration of New York City Mayor Bill de Blasio would let some residential developers double or even triple-dip into affordable housing subsidy pools for the same projects.
This is a reversal of a policy that would have eliminated double dipping. It came to light as two affordable housing measures were being debated.
One is a property tax exemption called 421-a that would require developers to set aside 25% to 30% of apartments in new buildings as affordable housing. Another, known as mandatory inclusionary zoning, would require that developers set aside up to 30% of all new condo or rental buildings as affordable on rezoned property.
The latter policy must be approved by the City Council. The relationship between the many programs that generate and govern affordable housing is complicated. How the two programs interact with each other, provided they both end up as law, remains to be seen, according to Crain’s New York Business.
Related Stories
Codes and Standards | Jan 4, 2019
LEED v4.1 beta registration begins in January
First releases are O+M, BD+C, and ID+C.
Codes and Standards | Jan 3, 2019
U.S. Appeals Court says general contractors can be cited for subcontractor violations
Ruling will prompt review of OSH decision that said GCs cannot be held liable for subs’ violations.
Codes and Standards | Jan 3, 2019
Tall mass timber code changes receive final approval
New provisions to be included in the 2021 International Building Code.
Codes and Standards | Jan 2, 2019
ASHRAE’s Low-Rise Residential Buildings standard update now available
Performance measures are at least 50% more efficient than 2006 IECC.
Codes and Standards | Jan 2, 2019
Study compares labor hours for various low-slope roofing options
Type of roof covering, project parameters, tool management, and crew efficiency all impact profitability.
Codes and Standards | Dec 20, 2018
New York’s ‘Scaffold Law’ under fire for driving up project costs
Lawmakers under pressure to reform law that makes contractors 100% liable for work-site injuries.
Codes and Standards | Dec 19, 2018
Guidance for water utilities on indoor recycled water use released
Provides recommended ranges on 13 different parameters of water quality.
Codes and Standards | Dec 18, 2018
Development in Africa, Asia, and uptake in air conditioning will require more efficient buildings
Dramatic action will be needed for global building sector to cut carbon in line with international agreements.
Codes and Standards | Dec 14, 2018
Emissions for buildings and construction have peaked, UN says
Greener buildings have led to leveling off of GHGs.
Codes and Standards | Dec 13, 2018
Urban flooding causing economic loss, social disruption, and housing inequality
Extensive suburban development, aging and poorly maintained infrastructure, and more intense rainfall mean more flooding.