RockTheVote
Publisher: The Real Deal New York
Author: Konrad Putzier
23 Aug 2017
New York state quietly stopped funding a key affordable housing program
The city has stopped funding the 80/20 plan. This plan called for offering tax exemption for affordable housing units. In essence is a 100 million dollar project, provided 20% affordable housing, 20 million of it would be tax exempt. One real estate finance source said that the change caught the industry by surprise.