A new report argues that the city’s 421-a tax incentive program has, in effect, been subsidizing expensive housing developments in gentrifying neighborhoods like Tribeca and Williamsburg, while neglecting to spur moderately priced housing in areas like downtown Brooklyn. The Bloomberg administration in February announced a task force to re-evaluate the 421-a incentive. more [NYT]
Trending
Report: Tax incentive subsidizes pricey housing
Recommended For You