HPD Unveils "421a Extension LOI" and "485x Registration Notice" HPD finally released their Letter of Intent ("LOI") for the 421a extension. This comes a few days prior to the deadline…

The New Housing Tax Incentive Programs: Adopted by the state legislator to increase housing production, the NYS budget for Fiscal Year 2025 introduced two new programs, in addition to extending…

  "Relevant Press Release Summary" At the press release earlier, Governor Hochul proposed an extension to the now expired 421-a program. While projects would still need to qualify with regards…

Area Median Income: 2024 The Department of Housing Urban Development (HUD) has released the Area Median Income (AMI) for fiscal year 2024: The new AMI rents have increased by more…

On July 18, 2023 NYS Governor Hochul signed an Executive Order with the objective of facilitating residential projects currently under construction within the Gowanus rezoning area. The Executive Order paves…

January January 5th Taxable Status Date / Exemption Renewal Date January 5th The deadline for filing a Certificate of Continuing Use (CCU) renewal for 2023/24 January 15th 2023/24 Tentative Assessment…

Area Median Income:2023 The Department of Housing Urban Development (HUD) has released the Area Median Income (AMI) for fiscal year 2023: Note that the new AMI rents have increased by…

As a developer, it’s important for you to understand the distinction between the increase in rent stabilized rents amounts that are issued by the Rent Guidelines Board (RGB), and the…