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 3, 2013
Florida contractors worry that regulations will hamper their ability to hire
Regulations such as the E-Verify rule and the Affordable Care Act could hinder contractors from hiring additional workers, according to some Florida contractors.
| Oct 3, 2013
Fall protection violations top OSHA citations list
Violations of fall-protection standards in fiscal 2013 are again the most frequent source of citations from the Occupational Safety and Health Administration, according to its top 10 list.
| Oct 3, 2013
Arizona utility pushes for change in building codes to boost efficiency on all commercial projects
Many large construction projects in Arizona are going green by paying attention to energy efficiency, but smaller buildings that are often rented out haven't yet jumped on the bandwagon.
| Oct 3, 2013
Bipartisan energy efficiency bill stalled; may not be revived this year
The Senate spent the first two weeks of September trying to pass bipartisan energy efficiency legislation, commonly known as Shaheen-Portman (S. 1392) that would have impacted building codes.
| Oct 3, 2013
LEED credential exams will feature LEED v4 material beginning next spring
The LEED Professional Credential exams for the LEED Green Associate and LEED AP with specialty designations will feature LEED v4 material beginning in late spring 2014.
| Sep 26, 2013
Ballot period on National CAD Standards open until Oct. 13
The Ballot Comment Period to update the nation’s leading computer-aided design (CAD) standard is now open.
| Sep 26, 2013
OSHA encourages comments on respirable crystalline silica rules
The Occupational Safety and Health Administration’s proposed rulemaking for respirable crystalline silica has been published in the Federal Register.
| Sep 26, 2013
EPA’s final rule on updated ASTM standard likely to be withdrawn
The Environmental Protection Agency is expected to withdraw a direct final ruleissued in Augustregarding an ASTM standard for Phase I Environmental Site.
| Sep 26, 2013
A primer on RoofPoint green-rating system for commercial roofs
The RoofPoint green-rating system can be used to construct more energy-efficient and sustainable commercial roofs.
| Sep 26, 2013
ConsensusDocs releases updated federal subcontract to help construction firms perform federal work
The newly revised ConsensusDocs standard subcontract (ConsensusDocs 752 for federal work) will make it easier for general contractors and subcontractors to perform federal work.
