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 | Mar 22, 2018
Global construction waste to almost double by 2025
Concerns in Houston, Minnesota over environmental impacts.
Codes and Standards | Mar 21, 2018
Cape Town, South Africa’s dire water supply crisis raises concerns in the U.S.
Los Angeles, Salt Lake City, and Miami among cities at risk for water shortages.
Codes and Standards | Mar 20, 2018
Report shows how LEED certification supports net zero energy
Whole-building energy simulation, ASHRAE compliance requirement are key factors.
Codes and Standards | Mar 15, 2018
Energy efficiency measures contributing to flat demand for power
Utilities having difficulty adjusting to new business environment.
Codes and Standards | Mar 14, 2018
New parking lighting technology is paying off, Energy Dept. says
Newer products can cut energy costs by as much as 70%.
Codes and Standards | Mar 13, 2018
OSHA delays enforcement of beryllium exposure rule
The Occupational Safety and Health Administration (OSHA) voted to delay new beryllium exposure rules until May 11.
Codes and Standards | Mar 12, 2018
L.A. mayor proposes mandatory seismic retrofits for steel buildings, daycare centers, private schools
Los Angeles Mayor Eric Garcetti has proposed a seismic retrofit requirement for vulnerable steel buildings built before the 1994 Northridge earthquake.
Codes and Standards | Mar 8, 2018
Net zero commercial building trend shows strong momentum
Almost 50% more zero energy commercial buildings under construction in 2017.
Codes and Standards | Mar 7, 2018
Dept. of Energy says 2016 ANSI/ASHRAE/IES Standard 90.1 would save 8.2% of energy costs
Favorable comparison to 2013 standard for commercial buildings.
Codes and Standards | Mar 6, 2018
Well Living Lab launches extensive study on how indoor environments affect people’s lives
Factors that impact health, performance, stress and resiliency, sleep, and comfort to be scrutinized.
