July 23, 2007
Compromising on Congestion and Campaign Cash
By Courtney Gross and Gail Robinson
An article about the compromises and agreements reached in overtime between the City and State lists a few items that didn't get done, including the 421-a reform bill that contains the "Ratner Clause:"
Tax Credits for Housing: The legislature has approved a version of 421a, a city program that provides tax breaks to housing developers in an effort to encourage construction of affordable housing. The mayor and City Council had proposed their own version late last year. But the version approved by the legislature - and apparently authored by Assemblymember Vito Lopez of Brooklyn -- included a huge tax break for Bruce Ratner's controversial Atlantic Yards project. And according to the city housing agency, the legislature's bill places additional conditions on developers that would hamper the city's effort to promote building of middle class housing. Bloomberg and Quinn have both urged Spitzer to veto it.
Posted by lumi at July 23, 2007 9:23 AM