Greenberg Traurig is hosting a pop-up webinar on the NY Affordable Housing and Development Legislation on April 18 at 12:00 - 1:00 p.m. ET.
The New York State Legislature and Governor Hochul announced a budget deal which includes a new housing plan. The plan aims to increase statewide housing supply and affordability by offering:
- A new tax incentive for affordable housing (485x);
- An extension of the 421-a tax abatement program for projects already in the pipeline;
- Significant and expanded tenant protection laws;
- Elimination of 12 FAR cap on residential density through a City of New York local zoning action and carveouts for historic districts; and
- A tax incentive program to encourage conversion of vacant commercial space into residential use.
Please join us for an informative webinar, featuring the two Greenberg Traurig lawyers, Samir NeJame, Chair, GTs NYS Government Law & Policy Practice, and Beth Garvey, shareholder, GT's Government Law & Policy Practice, who were instrumental in helping the legislature draft the bill.