Affordable Housing Vote Today
As reported by the Observer's Matthew Schuerman yesterday, Council Speaker Christine Quinn has reached a deal on a bill to revise the 421a program, the Lindsay-era initiative that gives developers huge tax breaks on new residential construction. Essentially, the deal preserves the controversial program while mandating that developers in some rapidly gentrifying areas (Harlem, Carroll Gardens, etc.) include an affordable housing component in their developments if they want the tax break. Azi reports from City Hall that a press conference on the deal is set to begin at 12:45, and a vote is said to be coming later this afternoon. Details on the final bill are still a bit sketchy--I'll have more to say on it later.
--Andrew Rice
vito lopez is very very disappointed in ms speaker quinn...
lobbysits are on city hall steps today plying their trade. it's unseemly and disgusting to watch. I hope Ron Lauder will take the time to realize how his term limits purchase led to this disaster. Of course, he doesnt care; he just buys what he wants.
Vito Lopez and Quinn are doing their best to destroy affordable housing.
First of all, term limits must be extended to all elected offices, before we see some real change (we also need stronger ethics laws). And elected reps have been too cozy with the real estate industry for years. Look, it was only after term limits went thru that the City Council was able to pass the lead bill.