Mayor Bill De Blasio is seeking to roll out a new strategy of linking Affordable Housing to rezoning. As the mayor told me two weeks ago The City Planning Commission will increase the heights of new buildings by one floor to allow for more affordable housing to be built.
This new plan is a mandate that developers set aside anywhere from 25 to 30 percent of all units to be built for either a 60 percent AMI (about $46,500.00 for a family of 3) or 80 percent AMI (about $62,000.00 for a family of 3) when seeking to rezone land for new developments. The decision would be up to City Planning and the City Council, not the developer, and would have no impact on any application for a 421A tax break.
The new plan would need approval from the council with input from the 59 community boards citywide. According to Capital New York Speaker Melissa Mark-Viverito and a handful of council members have endorsed the plan. Read the entire Capital New York article here.