City’s 421-b development incentive expires

The city’s 421-b tax incentive quietly expired with the end of June. The incentive benefited the development of new one- and two-family homes throughout the city and particularly in Staten Island. Its expiration was seen by many as a cold shoulder from the city for one- and two-family home development because the 421-a tax incentive, which mostly benefits condo development, is still in place. more [Advance]