Efforts to revive a lucrative housing tax incentive for New York City developers are hung up as the state Legislature and Gov. Kathy Hochul tangle over finalizing a budget with an April 1 deadline.
Hochul, a second-term Democrat, wants to create a new version of the 421-a tax abatement, which until expiring in 2022 gave developers a tax break over decades in exchange for creating a certain level of affordable housing.
The governor failed at reviving the tax break last year amid legislative opposition, and her plan this year hangs on the real estate industry striking a deal with ...
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