Stakeholders divided on mayor’s “mandatory inclusionary zoning” plan

Proposal would tie land rezonings to mandated affordable housing requirements
August 05, 2015 01:00PM

Stakeholders are split over Mayor Bill de Blasio’s most recent affordable housing proposal, which was unveiled last week and would tie rezonings to mandatory affordable housing requirements.

De Blasio’s plan includes a policy known as “mandatory inclusionary zoning,” which would tie a series of proposed rezonings throughout the city to affordable housing requirements for builders.

Developers would have to set aside 25 percent of units in a rezoned area for families earning an average of 60 percent of the area median income, or the city – and not the builder – could opt to mandate 30 percent of those apartments as reserved for those making 80 percent of the area median income.

Developers, housing activists and City Council members have yet to reach any consensus on the plan, according to Capital New York, with some council members in favor. Others have expressed concerns.

Developers, meanwhile, remain concerned about the fate of the 421a tax break, which must clear another political hurdle in January if it is to be extended for another four years. [Capital New York]Rey Mashayekhi