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
| Aug 2, 2012
FBI investigates Turner, Tishman, Skanska, and Plaza Construction for billing practices on public projects in New York
After charges filed against Bovis Lend Lease in April led to an admission of guilt and $56 million in fines for overbilling clients, federal prosecutors are investigating the billing practices of four more New York City construction firms, according to reports.
| Aug 2, 2012
Court ruling may lead to more destructive testing on unfinished Harmon Tower in Las Vegas
A Clark County, Nevada district court judge ruled that the unfinished Harmon Hotel at CityCenter, operated and half-owned by MGM Resorts, could not use extrapolation when requesting damages at a possible trial.
| Aug 2, 2012
NIBS council recommends private and public measures to improve building sustainability
A new report by the National Institute of Building Sciences Consultative Council highlights four several areas that need focus to improve sustainability in buildings and infrastructure.
| Aug 2, 2012
Greenbuild summit will focus on greening affordable housing
A two-day summit focused on green building in the affordable housing market will be held Nov. 13 - 14, 2012 in San Francisco, Calif. at the Greenbuild International Conference & Expo.
| Aug 2, 2012
More than 250 downtown El Paso, Texas buildings don’t meet safety codes, says city’s fire department
A total of 726 buildings were inspected for unsafe conditions, and 266 did not meet safety codes, while 112 buildings were found to be vacant and needed further inspection.
| Jul 26, 2012
Wisconsin may establish stormwater storage requirement for green roofs
Green roofs and other green infrastructure would be required to capture stormwater under a draft state wastewater discharge permit from the Milwaukee Metropolitan Sewerage District.
| Jul 26, 2012
SouthPark Mall in Charlotte reopens after heavy rains collapse part of its roof
Code enforcement officials in Charlotte, NC gave the okay for the SouthPark Mall to reopen after two parts of its roof collapsed following heavy rains last week.
| Jul 26, 2012
New NRCA photovoltaic roof systems guidelines released
The National Roofing Contractors Association’s update of its Guidelines for Roof Systems With Rooftop Photovoltaic Components is now available.
| Jul 26, 2012
DOE/ASHRAE design guide aims to cut energy use at hospitals, schools, retail stores
The Advanced Energy Design Guidelines from the Department of Energy and the American Society of Heating, Refrigerating and Air Conditioning Engineers aims to provide ways for hospitals, schools, and large retail buildings to trim their energy consumption by 50%.
| Jul 19, 2012
Bayview Property Managers agrees to record $800,000 building code fine
A San Francisco property-management company has agreed to pay a record $800,000 civil fine for hundreds of building code violations at rental properties.
