Statement of City Council Member Brad Lander, Deputy Leader for Policy (and a member of NYC's 421-a Task Force in 2006):
"For far too long, despite our prior efforts at reform, the 421-a tax break has been far too big a giveaway of our tax dollars, for far too little affordable housing in return. New York City simply cannot afford to continue to subsidize market-rate development with no affordability.
So I embrace Mayor de Blasio's proposal for reform (outlined this morning in The New York Times). By requiring affordable housing in exchange for any 421-a tax break, increasing the amount of affordability required, eliminating condos, expanding the options to fit different neighborhoods, and broadening the mansion tax, 421-a can become a program that truly supports the creation of affordable housing for New Yorkers who need it. Read more »