Make housing affordable again for moderate- and middle-income working-class individuals too
Heidi Burkhart, Tue, Apr 17th, 2018 3:41:39 am

Since taking office, mayor de Blasio has worked hard to bring attention to the need for more affordable housing in the city. Since his re-election, he has extended his affordable housing plan, which now aims to create 300,000 new affordable housing units. However, as ambitious as de Blasio's efforts may be, they focus primarily on providing assistance to extremely low-income households. There is no doubt that these low-income individuals need assistance; however, there needs to be a greater amount of attention and resources dedicated to providing affordable housing to moderate- and middle-income working-class individuals. This is the only way to bring fairness back to New York City. More than that, if the needs of New York City's working class are not met, they will move out of the city, resulting in the loss of both intellectual and economic capital.

City's housing agency looking to develop 2 sites near Hudson Yards
Sally Goldenberg, Mon, Apr 9th, 2018 2:20:05 pm

The city is looking to develop two sites it owns on the West Side of Manhattan that total more than 43,000 square feet.

The Department of Housing Preservation and Development issued a formal bid for proposals Monday for two mixed-used projects with rent-regulated housing. Both sites are under the joint control of the city and the Metropolitan Transportation Authority and are part of the original plan for the sprawling Hudson Yards development.

The site on 9th Avenue and 54th Street is a 21,500-square-foot parking lot owned by the city and leased to the New York City Transit Authority. In addition to housing, the department is envisioning ground-floor retail, office space and underground parking for the transportation authority.

The second site is a 22,220-square-foot vacant lot on 10th Avenue between 48th and 49th streets. It includes a rail cut for the Amtrak Empire line. The city is looking for affordable housing, a public restroom and adjacent open space.

The agency is looking for developers willing to handle both sites. "Deploying public sites for affordable housing development is a critical component of [our housing plan] and our efforts to secure greater affordability across all our neighborhoods," Housing Commissioner Maria Torres-Springer said in a release. "Through this RFP [request for proposals] we are making good on the promise of the Hudson Yards development plan and looking to generate dynamic proposals that will add to the fabric of the neighborhood and respond to the needs and priorities of the community."
City Comptroller Scott Stringer has faulted the city for failing to take advantage of vacant land it owns to develop more affordable housing.

2018-19 New York State Budget Passed by the State Legislature
NYSAFAH, Mon, Apr 2nd, 2018 3:08:54 am

NYSAFAH Fights to Protect Affordable Housing and Secure A Critical, New Initiative

On Saturday, March 31st, the day before the start of the State's new fiscal year on April 1st, the New York State Legislature passed the last of the several bills that comprise the 2018-19 State budget, including those of particular interest to the housing industry. While Governor Cuomo must still act on the budget bills before they may take effect, it is anticipated he will do so shortly. MORE...

State budget includes provision for affordable housing
Sally Goldenberg, Sun, Apr 1st, 2018 3:59:23 pm

The state budget includes a priority for developers of below-market-rate housing — a decoupling of federal and state tax credits. A bill included in the Fiscal Year 2019 spending plan to separate the financing streams will free up about $25 million in the first year for low and moderately priced rentals, the New York State Association for Affordable Housing has said. Association president Jolie Milstein called the split of state and federal low-income housing tax credits "a crucial provision" in a prepared statement released after the $168.3 billion state deal was struck early Saturday morning. "By allowing these two tax credits to be used separately, state credits will have increased value and will attract tens of millions of dollars per year in additional private financing for affordable housing," Milstein added. "This will help create more affordable housing units and reduce the need for public funding for such projects." The tax credits have long been a popular tool for affordable housing developers in search of financial backers, and buying them has been an equally popular way for banks and other lenders to reduce their federal tax burden while complying with provisions of the Community Reinvestment Act. The reduced tax burden included in the federal tax overhaul last year makes the credits less attractive to lenders, which caused concern in the affordable housing world that the financing would dry up. This action ensures that the state credits can be tapped into even if the federal ones are used less readily. The budget also scrapped a proposal to delay the ability to use a host of tax credits, including brownfield redevelopment credits.

NYC DOB Site Safety Workshop Information
NYC DOB, Mon, Jan 8th, 2018 4:41:16 am

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