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
| Jan 14, 2015
Ontario code changes boost accessibility for people with disabilities
The new amended Ontario building code includes several provisions that improve accessibility for those with disabilities.
| Jan 14, 2015
American Concrete Institute releases Spanish edition of structural concrete code
New York City last year adopted the National Institute of Standards and Technology (NIST) recommendation to require additional exit stairways in high-rise buildings.
| Jan 14, 2015
Terrorism Risk Insurance Act renewed
President Barack Obama signed the Terrorism Risk Insurance Act law on Jan. 12.
| Jan 9, 2015
Academy of Art in San Francisco under fire for code violations
The fast-growing Academy of Art is under intense scrutiny by the City of San Francisco for code violations.
| Jan 9, 2015
New law mandates storm shelters in Illinois schools
An Illinois law took effect on Jan. 1 that requires all new and remodeled schools to have storm shelters.
| Jan 9, 2015
New OSHA regulations on reporting workplace deaths, hospitalizations take effect
As of Jan. 1, all employers under the jurisdiction of OSHA are required to report all work-related fatalities within eight hours and all in-patient hospitalizations, amputations, and losses of an eye within 24 hours.
| Jan 9, 2015
Zoning policy makes Bethesda, Md., a model walkable suburb
In sharp contrast to most suburban communities in the Washington, D.C. area, Bethesda, Md., stands out as a fine exemplar of the new urbanism ethos.
| Jan 8, 2015
Gundersen Health System says it is nation’s first net-zero healthcare network
Gundersen Health System, a network of hospitals, medical clinics, and nursing homes in Wisconsin, announced that it is producing more energy than it consumes, making it the first net-zero energy health system in the U.S.
| Jan 8, 2015
Construction industry could be hurt by non-renewal of terrorism insurance bill
Insurance industry experts say without federal terrorism reinsurance in place for 2015, resulting canceled property/casualty insurance coverage and market chaos could be disruptive to the economy.
| Jan 2, 2015
Ohio’s Licking County to hire construction stormwater runoff specialist
Formed to focus on agriculture, the Licking County (Ohio) Water and Soil Conservation District has branched out to oversee construction sites.