ANHD 2016 Building the Community Development Movement
“The failure to reach a deal to continue the 421a developer tax break will have a significant impact on the construction of new market-rate housing. It will also have a substantial impact on Mayor de Blasio’s laudable affordable housing development housing goals. While the long-term suspension or elimination of 421a would require the City to revamp many of the current housing programs, such as Inclusionary Housing, which are structured to incorporate the tax break, it is also a chance to step back from the 421a model that we have lived with for the past four decades, and instead consider going back to the drawing board to create a new program that rebalances developer incentive with public benefit.”
Benjamin Dulchin
Executive Director
Association for Neighborhood and Housing Development
212-747-1117, x 17
Benjamin.d@anhd.org
Blog team: Benjamin Dulchin, Lena Afridi, Armando Chapellquen, Jonathan Furlong, Moses Gates, Emily Goldstein, Ericka Stallings, Jaime Weisberg, Barika X. Williams. Editors, Anne Troy, Abou-Baker Diakite