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News
Tax Break Bill Up for Approval
by Cindy Rodriguez
NEW YORK, NY December 20, 2006 —Today, the City Council votes on a bill that would require more developers to provide affordable housing in exchange for tax breaks. WNYC's Cindy Rodriguez reports:
The debate has been over how much to expand the affordable housing requirement. Council Speaker Christine Quinn had previously introduced a bill that nearly doubled the size of the exclusion zone.
But some council members and housing advocates were holding out for legislation that would have tied tax breaks to affordable housing city wide. Quinn offered the group small concessions in exchange for their support.
The compromise bill to be voted on tomorrow expands the exclusion zone by adding some extra blocks inside neighborhoods such as Carroll Gardens, and Sunset Park Brooklyn. A provision in the bill calls for reviewing the exclusion zone every 2 years.
The state legislature has the final say on the legislation and will take it up in the spring. For WNYC, I'm Cindy Rodriguez.