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The 421-a tax exemption is a property tax exemption in the U.S. state of New York that is given to real-estate developers for building new multifamily residential housing buildings in New York City. As currently written, the program also focuses on promoting affordable housing in the most densely populated areas of New York City. The exemption ...
The New York State Division of Housing and Community Renewal (DHCR) is an agency of the New York state government [1] responsible for administering housing and community development programs to promote affordable housing, community revitalization, and economic growth. Its primary functions include supervising rent regulations through the State ...
HPD is currently in the midst of New York City Mayor Bill de Blasio's Housing New York initiative to create and preserve 300,000 units of affordable housing by 2026. By the end of 2021, the City of New York financed more than 200,000 affordable homes since 2014, breaking the all-time record previously set by former Mayor Ed Koch. [3]
Co-op city in the Bronx, a Mitchell–Lama development [1] The Mitchell–Lama Housing Program is a non-subsidy governmental housing guarantee in the state of New York. It was sponsored by New York State Senator MacNeil Mitchell and Assemblyman Alfred A. Lama and signed into law in 1955. [2] [3]
New York's rent prices grew 3.5% between August 2023 and August 2024 — about the same as the previous year's 3.4%, according to Zillow. It's also in line with the national increase in rents over ...
The New York City Housing Authority (NYCHA) is a public development corporation which provides public housing in New York City, and is the largest public housing authority in North America. Created in 1934 as the first agency of its kind in the United States, it aims to provide decent, affordable housing for low- and moderate-income New Yorkers ...
HFA and its subsidiaries are now administered by New York State Homes and Community Renewal, [4] created in September 2010 to include the New York State Division of Housing and Community Renewal. In 2017, the HFA had operating expenses of $368.76 million, an outstanding debt of $16.780 billion, and a staffing level of 263 people.
Meanwhile, Takeuchi Apuna said the city's commitment to Bill 7 and its affordable housing projects will continue for years to come, albeit in a new form. "The City Council believes there is a ...
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