De Blasio is OK with Cuomo’s 421a proposal, unless it costs the city

Mayor says affordable housing initiative is already cash-strapped

TRD NEW YORK /
Aug.August 19, 2016 10:30 AM

Mayor Bill de Blasio is cool with Gov. Andrew Cuomo’s new 421a proposal as long as the city doesn’t have to foot the bill.

At an unrelated press conference on Thursday, the mayor said that he supported a proposal to provide construction wage subsidies for certain projects under the tax abatement program, the New York Post reported. He just doesn’t want the program to impact the city’s already cash-strapped affordable housing program.

“God bless ’em,” he said. “If that’s what the state thinks is the right thing to do with state money, of course we can work with that.”

The New York Times revealed late Wednesday that Cuomo proposed a plan to revive the defunct tax abatement program. In a one-page memo provided to a select group of developers, the governor laid out a plan that set union-level minimum wages for projects but also offered up wage subsidies. The proposal set a minimum of $65 an hour in wages and benefits for Manhattan projects south of 96th Street with over 300 units, and a minimum of $50 an hour in wages and benefits for similarly-sized projects in Brooklyn and Queens. For the latter, the state would have to shell out $15 per hour.[NYP] — Kathryn Brenzel


Related Articles

arrow_forward_ios
Governor Andrew Cuomo and Senator James Skoufis (Credit: Getty Images, NY Senate)

Owners of some residential properties can’t hide behind
LLCs anymore

Governor Andrew Cuomo and 538 Johnson Avenue in Brooklyn (Credit: Google Maps and Getty Images)

Landlords take another hit: Cuomo signs expanded Loft Law

Governor Andrew Cuomo (Credit: Getty Images)

Cuomo wants to exempt NYC from prevailing wage bill

Governor Andrew Cuomo (Credit: Albin Lohr-Jones/Pacific Press/LightRocket via Getty Images)

Prevailing wage expansion included in budget deal

New York Governor Andrew Cuomo (Credit: Drew Angerer/Getty Images, and iStock)

New York halts most construction

Governor Andrew Cuomo (Photo by Eduardo Munoz Alvarez/Getty Images)

State mulls changing what construction is considered “essential”

Gov. Andrew Cuomo (Credit: Bennett Raglin/Getty Images)

NY regulators lay out specifics of homeowner mortgage break

Mayor Bill de Blasio delivered the message this week ahead of a formal plan to combat social gathering in the city. (Credit: Lev Radin/Pacific Press/LightRocket via Getty Images and Cindy Ord/Getty Images)

New York City to enforce social distancing at parks, playgrounds

arrow_forward_ios
Loading...