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As state budget negotiations drag nearly two weeks late, a housing deal seems likely to coalesce—but it’s not there yet, as consequential details remain fluid.
"A housing package that protects tenants, builds affordable housing, and creates good jobs is possible, but bad actors in the real estate industry would rather hold my members and all New Yorkers hostage on account of their greed."
Mayor Adams’ ‘City of Yes’ housing proposal includes a 20 percent density bonus for developers—if the additional units are income-restricted.
"What we need is not haphazard compromise through gritted teeth, but the embrace of a coherent policy to safely and affordably house more New Yorkers. We need to build more housing and help more people afford it."
Gov. Kathy Hochul’s proposed legislative budget for the new year includes another attempt at replacing the expired 421-a developer tax break.