Developers want the state to re-examine how it reviews housing projects that get tax breaks from Industrial Development Agencies, which they feel undermine the construction of affordable units, Newsday reported. A coalition of developers called the Association for a Better Long Island have asked the Authorities Budget Office that, going forward, IDA-supported projects be based on the number of units created, not the number of jobs created. The developers argue that demand for these units has surged recently and by focusing on jobs, the rules ignore this demand and could the hamper local economies they aim to help. [Newsday]
Group of local developers lobby to change state-issued IDA criteria for affordable housing
New York /
Aug.August 06, 2018
02:56 PM
Related Articles
arrow_forward_ios

Education entrepreneur relists East Hampton estate for $95M

Suburban home inventory is depleted, but demand rages

Lawmakers call for stiff penalties, reform after housing discrimination probe

Yes to conversions, no to rent regulation: LI biz group unveils real estate agenda
arrow_forward_ios