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
| Oct 2, 2014
California Energy Commission launches code upgrade process
The California Energy Commission launched the upgrade process to Title 24, the state energy code, last month.
| Oct 2, 2014
Canals to mitigate flooding could be in Boston’s future
The Urban Land Institute held brainstorming sessions over the last several months involving more than 70 engineers, architects, and development and insurance specialists to examine how rising sea levels would affect four representative areas in and around Boston.
| Oct 2, 2014
Los Angeles reverses ban on high-rise slanted roofs and spires
Los Angeles reversed course last month on a regulation that had barred skyscrapers from having slanted roofs or spires.
| Sep 29, 2014
10 common deficiencies in aging healthcare facilities
VOA's Douglas King pinpoints the top issues that arise during healthcare facilities assessments, including missing fire/smoke dampers, out-of-place fire alarms, and poorly constructed doorways.
| Sep 29, 2014
Report finds links between office design, health and productivity
A new report from the World Green Building Council finds “overwhelming evidence” to support office design as a significant influencer of the health, wellbeing and productivity of staff.
| Sep 29, 2014
San Francisco office tower is first U.S. building to earn LEED Platinum v4 certification
One Sansome Street, San Francisco is the first building in the U.S. to achieve LEED Platinum v4 certification. The building is also only the second property worldwide to be awarded with v4 certification.
| Sep 29, 2014
Navy to begin BIM phased implementation in October
The U.S. Naval Facilities Engineering Command will begin its Building Information Management and Modeling (BIM) Phased Implementation Plan in October.
| Sep 18, 2014
GBCI to administer PEER certification for power grids and building projects
The Green Building Certification Institute (GBCI) will administer certification for the Performance Excellence in Electricity Renewal (PEER) program.
| Sep 18, 2014
Master Painter Institute approves 55 new paint products
The Master Painter Institute has issued approvals for 55 new paint products.
| Sep 18, 2014
OSHA announces new requirements for reporting deaths and severe injuries
The U.S. Department of Labor's Occupational Safety and Health Administration announced a final rule requiring employers to notify OSHA when an employee is killed on the job or suffers a work-related hospitalization, amputation, or loss of an eye.