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De Blasio Pleads With Affordable Housing Developers to Help Revive 421a

Mayor Bill de Blasio begged a coalition of below-market developers today to help him convince the State Legislature and Gov. Andrew Cuomo to revive the… 587 more words

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Borough President Gale Brewer Makes Manhattan Feel Small

Manhattan is not a small town. But when you spend the day with its borough president, Gale Brewer, it feels like one—and Ms. Brewer feels like its mayor. 2,680 more words

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REBNY Head Says Albany Shot Down Deal With Unions on 421a

John Banks III, president of the Real Estate Board of New York, said today that his industry group did actually reach a deal with organized labor last year to save the… 611 more words

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A Statement about the Abatement: The Effects of the 421-a Expiration

For over forty years, the 421-a tax exemption program incentivized developers to build multifamily residential rental units in New York City. The program provided tax benefits to developers who built properties with affordable housing in Geographic Exclusion Areas (GEA), which includes all of Manhattan and parts of the Bronx, Brooklyn, Queens and Staten Island. 258 more words

Cuomo Warns Compromise on New 421a Program Would Be 'Political Dynamite'

Gov. Andrew Cuomo warned of an explosive populist reaction to a proposal to extend a new tax break to condominiums in exchange for prevailing wage requirements for construction workers—one of the suggested solutions to reinstate the… 353 more words

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The Real Estate Community Is Scrambling to Get the Lapsed 421a Tax Break Back

On Friday afternoon, hours before New York City’s largest and most controversial tax break was set to end at midnight, some were acting like the city was bracing for a nuclear blast. 410 more words

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Cuomo and de Blasio Lament the Collapse of 421a Tax Break

After negotiations to reform and extend the controversial 421a tax break for housing developers collapsed last week, Mayor Bill de Blasio and Gov. Andrew Cuomo said they would both make finding a new way to spur affordable housing a priority this year. 702 more words

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