The New York State FY 2025 budget legislation enacted on April 20th included an important and long-awaited housing reform for New York City: elimination of the “12 FAR” cap for residential buildings. City officials and...more
Kramer Levin recently hosted a seminar titled “Emerging Issues in Land Use: The Year in Review and What’s Ahead,” where experts discussed New York City planning initiatives and land use trends. Among the speakers were Jessica...more
Gov. Kathy Hochul this week released a proposed revision to the 421-a “Affordable New York” program, in connection with her FY2023 Executive Budget proposal. The new program would be known as the “Affordable Neighborhoods for...more
The New York City Council on June 17 approved legislation that would mandate a “racial equity report” in connection with many rezonings, special permits and other land use applications submitted on or after June 1, 2022. ...more
New York City Council Speaker Corey Johnson recently issued a report titled “Planning Together: A New Comprehensive Planning Framework for New York City” and has introduced legislation in the City Council to implement its...more
Many of our clients have asked us how they can avail themselves of the state’s revamped 421-a tax exemption program — the Affordable New York Housing Program — on a project that is also subject to the city’s Mandatory...more