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 | Apr 25, 2017
Concerns over increased construction costs following Trump executive orders
‘Buy American’ requirement and revised H-1B visa restrictions could raise prices on supplies, labor.
Codes and Standards | Apr 24, 2017
‘Staggering delays, exorbitant costs’ in New York City library, cultural building construction
Study finds significant problems with how city manages capital projects.
Codes and Standards | Apr 20, 2017
California lawmakers have had little success in attracting sports stadiums
Only one of several attempts has had an impact in recent years.
Codes and Standards | Apr 19, 2017
Dept. of Energy releases updated versions of EnergyPlus and OpenStudio building energy modeling tools
The updated versions include full support for variable speed DX coils, enhanced plant auto-sizing, new fan model, and support for non-rectangular windows.
Codes and Standards | Apr 18, 2017
K-12 school daylighting initiative created to promote best practices
Eneref Institute creates networking group of school administrators for ideas to overcome market obstacles.
Codes and Standards | Apr 17, 2017
OSHA delays enforcing crystalline silica standard in construction industry
Enforcement will begin Sept. 23, three months later than planned.
Codes and Standards | Apr 13, 2017
Former OSHA official publishes safety citations on his own
Under Trump orders, agency had stopped issuing ‘shaming’ press releases on major fines and safety violations.
Codes and Standards | Apr 12, 2017
Trump infrastructure task force suggests arbitration to speed projects
Permitting process could be reduced from 10 years to 2 years under the proposal.
Codes and Standards | Apr 11, 2017
2017 National Energy Codes Conference includes code boot camp, PNC Tower tour
The DOE-sponsored event will be held in Pittsburgh July 17-20.
Codes and Standards | Apr 10, 2017
Congressional hearing on skills gap includes look at construction industry
Strategies to boost ranks of construction workers include mentoring programs, increased safety measures, trade group support, and outreach to school counselors.