The Mayor’s Mandatory Inclusionary Housing plan moved one step closer to approval in negotiations with the City Council this week, and one step further away from economic reality. The most viable option in the Mayor’s original plan would have allowed developers to get a density bonus for providing 30% of the units to families averaging less than 120% of the area median income (AMI is now $77,700 for a family of three). The new deal would cut the income level to 115% of AMI and require that, within that, 5% of units average 90% of AMI and 5% average 70%. On top of that, the deal includes legislation requiring a certificate of no harassment for new construction and major alterations that the administration itself opposed as unworkable just weeks ago. So, not only will the package reduce the number of new units potentially built, it will make preserving and improving existing units more difficult.
Developers can get a full explanation of the final zoning changes and regulations directly from Planning Commissioner Carl Weisbrod, who will keynote BuildingsNY at the Javits Center at 9 a.m. May 24th. CHIP and ABO sponsor the Show.
Regardless of the zoning changes, which are expected to be voted on next week, there is concern that a replacement for the 421a tax incentive plan is vital to any plan for new rental housing. Assemblyman Keith Wright this week proposed a new plan of direct grants rather than tax breaks, but it appears the Mayor wasn’t even consulted.
If you do build anything, you can use a crane again when the wind is under 30 miles per hour. The Department of Buildings this week eased the restrictions imposed after a fatal accident last month.
And you might want to check out buildings and building sites near five new ferry routes that will be opening over the next two years. Here is a map.
It was a warm winter, but a lawsuit against oil companies that blended used motor oil with heating oil can go forward, according to the Appellate Division. A lower court dismissed the case arguing that the oil met specifications and there were no damages, but the Appellate court said the issue was whether the building operators got what they specifically contracted for.
DHCR, yesterday, issued an annual notice form (attached) to send to all ETPA tenants advising them of the availability of Senior Citizen and Disability rent increase exemption programs. It is not on the DHCR website yet. The notice requirement went into effect in December and applies to rent stabilized apartments in the City as well, but the City Department of Finance does not appear to have posted a notice form yet either. There is a notice in the stabilized lease rider issued by DHCR this month, but the law requires annual service on tenants.
Exhibitors and potential exhibitors at BuildingsNY can learn how to maximize attendance at their booths and follow up with visitors using online tools at a special seminar at 11 a.m. March 24th in the Marriott Marquis. Contact rpalermo@reedexpo.com for details and reservations.
This week’s BuildingsNY exhibitor focus is on RSP Systems. Meet them at the Javits Center May 24-25th.