On October 23, 2024, New York City Mayor Eric Adams announced the final rules regulating the City’s $2 million trade-in program for electric-powered mobility devices, such as electric bikes, and their batteries. This program is part of the City’s “Charge Safe, Ride Safe: New York City’s Electric Micromobility Action Plan” which aims to mitigate the risk of deadly e-bike fires, caused by uncertified lithium-ion batteries by promoting public safety and reducing the illegal … <Read More>
Search Results for: Buildings
Governor and Mayor Celebrate Over 600 Letters of Intent for 421-a Extension Program
On October 16, 2024, New York City Mayor Eric Adams and New York Governor Kathy Hochul celebrated the milestone of the New York City Department of Housing Preservation and Development (HPD) receiving Letters of Intent for approximately 650 buildings through the 421-a extension tax incentive program. The proposed 650 buildings represent roughly 71,000 new homes (including 21,000 affordable units) for New Yorkers. Currently, New Yorkers face a 1.4 percent rental vacancy rate, with half of … <Read More>
City Releases Proposed Rules for Two New Tax Incentives Programs: 485-x and 467-m
On October 8, 2024, the New York City Department of Housing Preservation and Development (HPD) published the proposed rules for the Affordable Neighborhoods for New Yorkers (Real Property Tax Law Section 485-x) and Affordable Housing From Commercial Conversions (Real Property Tax Law Section 467-m) programs.
NYCHA Secures Funding for Frederick Samuel Apartments Renovations
On September 26, 2024, the New York City Housing Authority (NYCHA) announced renovations will be conducted at the Frederick Samuel Apartments through the Permanent Affordability Commitment Together (PACT) project. Since, 1994 the New York City Housing Authority has managed the Frederick Samuel Apartments, which were constructed between 1910 and 1928. The renovations will cost $383.6 million and involve 660 apartments for roughly 1,200 New Yorkers living in the 40 residential buildings in Harlem. The upgrades … <Read More>
City Creates New Program to Help Affordable Housing Projects Go Green
On September 26, 2024, New York City Mayor Eric Adams announced the creation of the GreenHOUSE Fund to improve compliance with Local Law 97 for owners of buildings with affordable housing. Since 2019, Local Law 97 has required the majority of buildings over 25,000 square feet to meet new energy-efficient and greenhouse gas emissions requirements. The City’s ongoing climate goals include having the largest buildings produce zero emissions by 2050 and improving air quality.
COMPLETE VIDEO: Policy Briefing with DCP Director Dan Garodnick, ‘City of Yes for Housing Opportunity’
On Wednesday, October 2, 2024, Department of City Planning Director Dan Garodnick spoke at New York Law School about the Adams Administration’s “City of Yes for Housing Opportunity” zoning text amendment. He had a discussion with Ben Max, Executive Editor for the Center for New York City and State Law about the amendment’s recent approval by the City Planning Commission and pending City Council review.