NY: Cuomo Strikes Deal to Revive Affordable Housing Program

The New York Times: For the second time in three months, Gov. Andrew M. Cuomo has forged a deal with developers and union construction officials to revive a program designed to create apartments for poor and working-class New Yorkers.

But will it get done?

The program, known as 421-a, expired in January. It grants cuts in property taxes to developers who set aside subsidized apartments for low-, moderate- and middle-income families or individuals in their otherwise luxury projects. It is a city program governed by state legislation.

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