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New York Real Estate Development Economic Development

Akerman LLP

New York City’s Industrial and Commercial Real Estate Tax Abatement Program Extended to 2029

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New York Governor Kathy Hochul signed the bill on extending the Industrial and Commercial Abatement Program (ICAP) for an additional four years, to March 1, 2029, with no modifications to the program....more

Farrell Fritz, P.C.

Tax Incentives Aim to Drive Real Estate Development Forward

Farrell Fritz, P.C. on

It has long been an accepted reality that very little real estate development gets done in New York State without the help of a myriad of tax incentive packages handed out by state and local governments—and the entities that...more

Akerman LLP

New York’s 421-a (16) Program Extension

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To address the ongoing need for affordable housing in New York, Governor Hochul and the state legislature have passed additional incentives to spur affordable housing development....more

Rivkin Radler LLP

LIBN Op-Ed — Sewers: Good for the Environment, Good for the Economy

Rivkin Radler LLP on

Not often is a policy initiative good for both the environment and business. Sewer expansion is one of those initiatives. The development of sewer systems in Suffolk County would not only reduce health-harming nitrogen levels...more

Cozen O'Connor

NYC Mayor Adams Launches Extensive Zoning Initiative to Promote Residential Development

Cozen O'Connor on

On September 21, 2023, the Adams administration revealed details for the third of three City of Yes zoning initiatives, City of Yes for Housing Opportunity. In line with Mayor Adams’ moonshot goal of providing 500,000 new...more

Akerman LLP

Extension of Incentive Programs in New York State’s 2024 Budget

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On May 1, 2023, the New York State Legislature voted to adopt the Fiscal Year 2024 budget which included the renewal and extension of the sunset date of five programs that abate real estate taxes, reduce commercial rent tax,...more

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