421-a program expires

The 421-a program officially expired this month after private groups failed to strike a deal about continuing the legislation, which gives developers tax breaks in exchange for building affordable housing. Gov. Andrew Cuomo ordered the Real Estate Board of New York (REBNY) and the Building and Construction Trades Council of New York  to make fair wages for construction workers building affordable housing to be included in any deal on 421-a. Representatives from both groups announced separately on Jan. 15 their failure to find a solution in time.

“It’s not uncommon for Albany to take an absurdly long time to get things done that need to get done,” northwest Bronx Councilman Andrew Cohen commented. 

REBNY President John Banks gave a statement suggesting talks on affordable housing incentives are not over yet.

“We are committed to working with stakeholders to fashion a program that will produce the affordable housing throughout New York City that is so desperately needed, ensures construction workers are treated fairly and creates job opportunities for city residents,” he stated.

Despite the expiration of 421-a, Mr. Cohen also voiced confidence that a solution could be reached eventually.

“I do believe there will ultimately be a deal and the deal will be retroactive,” he said. “I believe that we could create affordable housing and pay workers a fair wage to do it.”

Family leave debated

Mr. Cuomo’s paid family leave proposal is facing some modifications in Albany. Assembly Speaker Carl Heastie said on Jan. 20 that state politicians plan to amend how the measures get funded, according to news sources.

“It’s a little different than what we believe paid family leave should be,” the speaker said of the governor’s proposal last week. “That’s been a signature thing we’ve passed as a conference, and we’ll look to have it look like the way we prefer it to be.”