It may not have been the focus of Governor Hochul’s new 421-a Replacement Program proposal, but her announcement was clear: any new program is expected to include Minority and Women Owned Business Enterprise (M/WBE) participation goals.

The addition of an M/WBE component within the 421-a Replacement Program reflects a strong commitment to diversity and inclusion within the real estate industry, and it presents opportunities for developers to support underrepresented businesses while meeting compliance requirements.

While M/WBE compliance may be new to 421-a, it is not new to Seiden & Schein, P.C. With over twenty-five years of experience in M/WBE compliance, we are ready to assist real estate developers, construction managers and general contractors in navigating this evolving landscape.

Why Choose Seiden & Schein, P.C.?

  • Over 25 Years of expertise
  • We are experienced leaders in M/WBE compliance, guiding numerous clients toward compliance success.
  • Proven Track Record: Our seasoned professionals will ensure compliance with solicitation and participation standards.
  • Forward-Thinking: As M/WBE goals are already mandated for ICAP and other city and state programs, including the 421-a alternative Empire State Development Gowanus Pilot Program, our experience positions you for compliance with future requirements.

With the new 421-a Replacement Program proposal embracing M/WBE participation, it’s an opportune moment to contribute to a more diverse and inclusive industry. Seiden & Schein, P.C. stands ready as your reliable partner in M/WBE compliance and all of your property tax incentive needs.

Learn more about the new 421-a Replacement Program by listening to our Bonus Episode of Shaping the NYC Skyline,
The Empire State Strikes Back: Moving from 421-a to 485-x with Jason “the Tax Incentives Jedi” Hershkowitz – Seiden & Schein, P.C. (seidenschein.com)

For more information feel free to reach out to us by phone at (212) 935-1400 or by email at taxincentives@seidenschein.com.

Seiden & Schein, P.C.
570 Lexington Avenue, 14th Floor
New York, New York 10022
www.seidenschein.com
***Attorney Advertising: Prior results do not guarantee a similar outcome.

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