Landlords could get bigger tax break from Nassau County for more affordable units

The policy only applies to projects that are already receiving tax breaks through the county’s Industrial Development Agency (iStock)
The policy only applies to projects that are already receiving tax breaks through the county’s Industrial Development Agency (iStock)

Nassau County could provide additional tax breaks to apartment developers and landlords if they boost the number of affordable units in their buildings, according to Newsday. The county’s Industrial Development Agency, which also wants to grant coronavirus relief loans to small businesses, adopted the policy last week. It only applies to projects that are already receiving tax breaks through the agency. Home prices in Nassau County are rising faster than income, according to ATTOM Data Solutions. Prices are up 3 percent this year and salaries are up only 2 percent. The IDA did not specify the rent range to qualify for the program. [Newsday] – Dennis Lynch

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