Latest News
Construction Dive: Potential barriers to reviving NY’s 421-a tax break remain
The revamped 421-a tax break sets new wage requirements for workers on projects claiming the credit based on their location, in addition to lengthening the abatement period and increasing the required percentage of below-market units from 20% to 25% to 30%.
The Real Deal: 421a Revival Could be on the Agenda if State Legislature Calls Special Session
The New York State Legislature seems closer to calling a special session before the end of the year, potentially bringing a revised 421a to the table.
Gov. Cuomo signs bill creating NY’s first Autism Spectrum Advisory Board
The law includes the creation of an Autism Spectrum Disorders Advisory Board, which would create an autism action plan.
Construction Dive: OSHA updates rules to reduce fall and trip hazards
According to OSHA, the revised regulations will also reflect the latest technology and give employers more flexibility in protecting workers.
Neighborhood House of Sayville Supports First Peer Education Leadership Summit in Suffolk
Inside the expansive Port Jefferson Village Center, students and teachers discussed how to recognize and diffuse bullying in schools and on social media. Participants also talked about how to recognize and understand teens in crisis and those contemplating suicide and how taking a proactive approach can save lives.
UPDATE: New Reporting on 421-A Affordable Housing Legislation
Despite proud and glowing announcements by Gov. Andrew Cuomo, the Real Estate Board of New York, and the Building and Construction Trades Council of Greater New York, sources confirmed to The Real Deal that they did not actually reach a consensus on a new deal for the 421a tax abatement last week due to differing interpretations on which projects would qualify.
421-A Questions Answered
The recent deal struck between Governor Cuomo, REBNY and the Unions on the 421-tax credit resulted in many questions from the industry. We are monitoring the situation closely and will provide ongoing information, as follows:
Crain’s: Cuomo Reaches a Deal to Revive Lucrative Real Estate Tax Break
From Crain's New York Business: An agreement on 421-a would have to be approved by the Legislature Gov. Andrew Cuomo has brokered an agreement between the city's real estate lobby and the building trades union [...]
Construction Dive: NYC Mayor Accelerates Construction Work in Build It Back initiative
New York City Mayor Bill de Blasio signed off on measures under the Build It Back program that officials hope will streamline the effort to address Superstorm Sandy damage still left unrepaired.
Crain’s: Trump Presidency Unlikely to Hurt the Real Estate Industry that Made Him
Donald Trump's upset presidential victory on Tuesday Nov. 8 sent ripples across financial markets and shocked the country's political establishment, but the city's real estate industry, where the Trump family made its fortune, remained unshaken.
Cahill Strategies 2016 Election Update
The 2016 election cycle has been one of the most tumultuous in recent history not only on the national stage, but in the N.Y. Metro and Long Island regions.
Gothamist: New York City Requires Developers To Set Aside Units For Homeless In 421-A Buildings
Seeking some kind of way to stem the tide of homeless residents in the city, the de Blasio administration has begun to require buildings that get 421-a tax credits to house homeless families.