De Blasio will seek tax break to add affordable housing | USASpeaks.com
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De Blasio will seek tax break to add affordable housing

NYC PAPERS OUT. Social media use restricted to low res file max 184 x 128 pixels and 72 dpiCorey Sipkin/New York Daily News

Hizzoner said he will urge state lawmakers to bring back the tax break that aims to encourage developers to add affordable housing units.

Mayor de Blasio said he was “deeply disappointed” that a tax break aimed at spurring affordable housing expired last week, and that he would push the legislature to again take up the issue.

“Albany has a chance to make it right and fix it,” he said.

The tax abatement program, known as 421-a, gave developers breaks on property taxes in exchange for them agreeing to add affordable housing units.

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It expired Friday after the real estate industry and unions representing construction workers failed to reach a deal on wages for work on projects that got the break.

De Blasio had hoped the program would help him build 200,000 units of affordable housing by 2024, one of his key goals.

Gov. Cuomo, who often spars with the mayor, said he was also upset about the program’s lapse.

“[It] is a major concern for the mayor and for myself,” he said.

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