Affordable New York

September 19, 2017

Study says Mayor de Blasio’s affordable housing plan ignores low-income New Yorkers

Despite making affordable housing a policy priority, Mayor Bill de Blasio’s plan falls short for the poorest New Yorkers, a new study says. The report, released by the Real Affordability for All (RAFA) coalition last week, says low- and moderate-income households across the city face a worsening affordability crisis (h/t DNAinfo). Although the city’s lowest earners experience the largest gap between incomes and housing costs, de Blasio’s affordable housing plan, which aims to develop or preserve 200,000 affordable units over 10 years, sets aside more units for middle-income households than low-income ones.
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January 27, 2017

City says Cuomo’s ‘Affordable New York’ plan would cost an extra $820M

By Dana Schulz

Governor Cuomo recently announced that his revised version of the city's 421-a tax exemption program would officially be moving forward. He said the initiative, dubbed "Affordable New York," would create 2,500 new affordable housing units per year, but a new study from the city's Department of Housing Preservation and Development says this will come at a cost. As Politico reports, Cuomo's changes to the program would cost NYC an additional $820 million over 10 years if approved by the state Legislature, $82 million a year more than Mayor de Blasio's proposed 421-a overhaul in 2015.
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January 16, 2017

Cuomo dubs revised 421-a plan ‘Affordable New York,’ advances new legislation

By Dana Schulz

A year after the city’s 421-a tax exemption program expired, a new version of the affordable housing incentive is officially moving forward. In August, Governor Cuomo released a new version of the plan that which include wage subsidies for construction workers and extended terms for the tax breaks, and after the Building and Construction Trades Council of Greater New York and the Real Estate Board of New York (REBNY) reached an agreement in November to move ahead with this version, the Governor's office now reports that they'll be advancing new legislation to move ahead the program that's now been re-named "Affordable New York." Cuomo says this will create 2,500 new affordable housing units per year.
All the details this way

Affordable New York

Study says Mayor de Blasio’s affordable housing plan ignores low-income New Yorkers

City says Cuomo’s ‘Affordable New York’ plan would cost an extra $820M

Cuomo dubs revised 421-a plan ‘Affordable New York,’ advances new legislation

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