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2. 421-a tax exemption - Wikipedia

   en.wikipedia.org/wiki/421-a_tax_exemption

   The 421-a program began in 1971, and the state government later added provisions to mandate the creation of affordable housing units in order for developers to qualify for the program. Under the original program, areas in which developers qualified for the tax break included all of Manhattan and portions of the rest of New York City.

3. Belaire Apartments - Wikipedia

   en.wikipedia.org/wiki/Belaire_Apartments

   After construction Belaire enjoyed reductions in its property taxes for 10 years as a result of Section 421-a tax exemption certificates, a New York City affordable housing program. [3] This happened because another company renovated 30 apartments at the Spring Creek Gardens complex in East New York and sold the tax benefits it accrued to the ...

4. Affordable housing in the United States - Wikipedia

   en.wikipedia.org/wiki/Affordable_housing_in_the...

   New York City has a shortage of affordable housing resulting in overcrowding and homelessness. New York City attracts thousands of new residents each year and housing prices continue to climb. Finding affordable housing affects a large portion of the city's population including low-income, moderate-income, and even median income families. [67]

5. This rule can promote affordable housing. But it risks ... - AOL

   www.aol.com/rule-promote-affordable-housing...

   I have some experience with affordable housing and the payment of cash in lieu — where developers pay cash into an affordable housing program rather than build the number of affordable units ...

6. How Nashville's tax break program fueled creation of 10,000 ...

   www.aol.com/nashvilles-tax-break-program-fueled...

   The Metropolitan Development and Housing Agency this week announced a milestone in affordable housing development for Nashville: MDHA's Payment in Lieu of Taxes program, which began in 2016, has ...

7. Real Estate Board of New York - Wikipedia

   en.wikipedia.org/wiki/Real_Estate_Board_of_New_York

   The value of that subsidy, which is known as 421-a, has soared from $73 million in 1986 to an estimated $1.4 billion this year [2016]. In return for the tax benefit, owners are supposed to limit rent increases and set aside a portion of units in high-demand neighborhoods for below-market rents — though they often don’t fulfill their ...