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
Resiliency | May 2, 2016
Connecticut to develop new code standards for resiliency
Expected more frequent severe weather events due to climate change prompts review.
Contractors | Apr 29, 2016
OSHA issues advisory to protect workers from Zika virus
Construction industry workers considered at high risk.
Codes and Standards | Apr 28, 2016
New research finds 30 measures to significantly cut energy use
ASHRAE’s prescription cuts across all building types and climates.
Codes and Standards | Apr 27, 2016
Florida gives developers more time to install first responder radio signal systems
Expensive upgrades can be postponed for several years.
Codes and Standards | Apr 25, 2016
San Francisco becomes first big U.S. city to require solar panels on new buildings
Pertains to commercial and residential buildings shorter than 10 stories.
Codes and Standards | Apr 25, 2016
GSA adopts SITES land development and management rating system
Federal agency will use for properties with and without buildings.
Wood | Apr 22, 2016
Revised 2015 Manual for Engineered Wood Construction available
American Wood Council Document offers design information for structural applications.
Codes and Standards | Apr 20, 2016
OSHA updates eye and face protection standards in final rule
Becomes effective April 26.
Codes and Standards | Apr 18, 2016
Efficiency finance pilot project to spur retrofits on existing buildings
EDF and PG&E team up on interest-free loans for qualified projects.
Codes and Standards | Apr 18, 2016
ASHRAE releases proposed energy standard for historic buildings
Designed to balance with preservation requirements.
