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 7, 2018
New report addresses sound transmission of wood-framed assemblies
AWC document provides empirical sound transmission model.
Codes and Standards | Nov 6, 2018
AIA releases 13 new and updated contract documents
Includes new Contractor-Subcontractor Master Agreement.
Codes and Standards | Nov 2, 2018
New Milwaukee Bucks home called world’s first bird-friendly sports arena
Design will make bird collisions less likely.
Codes and Standards | Nov 1, 2018
Several barriers holding back widespread construction of zero energy buildings
Code improvements and voluntary programs could add momentum.
Codes and Standards | Oct 31, 2018
Boston’s new flood protection plan centers on new parks
Initiative would add 67 acres of public open space.
Codes and Standards | Oct 30, 2018
San Francisco plans tougher seismic building codes
Recommendations include addressing geotechnical issues like those faced by Millennium Tower.
Codes and Standards | Oct 26, 2018
Tall Mass Timber code proposals approved at Intl. Code Council public comment hearings
Proposals now go to online voting; final outcome expected in December.
Codes and Standards | Oct 25, 2018
Low-income neighborhoods could benefit most from green roofs
Those areas face the biggest risk from extreme heat.
Codes and Standards | Oct 24, 2018
Building design critical to prevent school shootings
Safety must be balanced with welcoming environment.
Codes and Standards | Oct 23, 2018
Codes in Florida Panhandle made buildings vulnerable to Hurricane Michael
Less stringent codes in northern parts of state linked to devastation.
