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 | Nov 27, 2018
AAMA updates specification for roller assemblies in sliding doors, and lift and slide doors
Last update was in 2015.
Codes and Standards | Nov 26, 2018
All LEED-certified buildings eligible for LEED recertification
Projects must submit 12 months of data demonstrating continued or improved performance.
Codes and Standards | Nov 20, 2018
OSHA publishes updates to crane operator certification requirements
Long-delayed rules accept certifications by type or type and capacity.
Codes and Standards | Nov 19, 2018
Guide offers understanding of elements that create successful multi-floor communal spaces
CTBUH technical document analyzes how to approach tall urban habitat.
Codes and Standards | Nov 16, 2018
2018 International Green Construction Code released
Updated version helps governments streamline code development and adoption.
Codes and Standards | Nov 15, 2018
New versions of DOE’s EnergyPlus engine and the OpenStudio software development kit released
New offerings resolve over 70 bugs and offer new features.
Codes and Standards | Nov 14, 2018
Obsolete safety standards may have been used in cleanup of former naval shipyard
San Francisco redevelopment site work may have been racked by fraud.
Codes and Standards | Nov 13, 2018
New York City’s new construction safety requirements are delayed
Some contractors say they weren’t ready for ‘massive initiative’.
Codes and Standards | Nov 9, 2018
Cities have multiple strategies to reduce parking requirements
Each community has to find its own mix of solutions.
Codes and Standards | Nov 8, 2018
Denver replaces green roof mandate with cool roof option
Less costly light-colored roofs can cut project costs by about 1.5%.