Opponents take fresh aim at 421a incentive

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Housing advocacy groups mounted fresh attacks on Tuesday on a city incentive that gives tax breaks for residential development. The 35-year-old incentive program, known as 421a, gives breaks to developers building in many parts of the city and was created to spur housing construction. But now, incentive opponents say, the 421a is no longer needed because of the housing market boom — because many developers use it to build luxury projects. more [NYT]

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