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City Planners in LIC Must Contend With Flaws in Bloomberg-Era Rezoning

1 Comment

  • peter johnson
    Posted February 2, 2017 at 10:01 pm

    13,000 units built and only 650 are affordable [probably most all in City Lights building?] yet those 13,000 units are all in 421-a buildings exempt from real estate tax for 35 years. that law requires affordable units, so where are they? who is responsible for this obvious failing? a State agency overseeing 421-a or a city agency? appears that once again the homeowner and manufacturing/industrial/commercial real estate taxpayer is providing a huge subsidy to developers. nothing like corporate welfare to enable the continuation of a “tale of two cities!’

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