(Illustration by Paul Dilakian/The Real Deal)
Alvin Schein was interviewed by a reporter from The Real Deal for this article, which is about the potential of a new real estate tax exemption program for the expired 421-a program – and life potentially without an as-of-right residential tax exemption program. One of his comments was that the proposed 485-w exemption proposed by Governor Hochul last year (which never even got to a vote in the State Legislature) was about as far as affordability could go while still being viable for privately financed developments. Yet, the proposed 485-w exemption was criticized by some as being “too much like 421-a” which is not true at all. Let’s see what happens in the next few months.
Read the article here.