Group of local developers lobby to change state-issued IDA criteria for affordable housing

TRD NEW YORK /
Aug.August 06, 2018 02:56 PM

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]


Related Articles

arrow_forward_ios
Compass' Rory Golod and Long Island’s North Shore (Credit: Long Island)

Compass sets sights on Long Island’s North Shore

Governor Andrew Cuomo (Credit: Getty Images)

Cuomo announces new state rules following Newsday’s discrimination exposé

How healthcare is saving Long Island’s office & retail markets

How healthcare is saving Long Island’s office & retail markets

The bombshell probe also found that minorities had to meet more stringent financial qualifications than white buyers. (Credit: iStock)

LI agents routinely discriminate against minority buyers, undercover probe finds

Islanders expect to break ground on Belmont arena project this summer, late composer’s Sands Point estate has another price cut & more Long Island real estate news

Islanders expect to break ground on Belmont arena project this summer, late composer’s Sands Point estate has another price cut & more Long Island real estate news

First hotel in decades could come to Babylon, waterfront Centre Island property gets $3M price cut & more Long Island real estate news

First hotel in decades could come to Babylon, waterfront Centre Island property gets $3M price cut & more Long Island real estate news

Nation’s first affordable housing development for LGBT seniors to open in Bay Shore, West Islip home with helipad hits the market & more Long Island real estate news

Nation’s first affordable housing development for LGBT seniors to open in Bay Shore, West Islip home with helipad hits the market & more Long Island real estate news

Jerry Wolkoff wants a new industrial building in Edgewood, former newspaper mogul’s Gold Coast mansion seeks $13M & more Long Island real estate news

Jerry Wolkoff wants a new industrial building in Edgewood, former newspaper mogul’s Gold Coast mansion seeks $13M & more Long Island real estate news

arrow_forward_ios
Loading...