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Toy Fair 2016 in NYC

Last month, the mayor of NYC Deblasio conducted quite an interesting meeting in which was decided a number of issues concerning the decision of housing problems in the city. Then he said that the process has already been launched on the basis of which will be built and put into operation more than 40 thousand apartments for two years. At the same time, the cost of these apartments is to be the market average, to make a house in New York. It is noteworthy that the mayor also announced his plans for the next 8 years to increase the number of flats up to 200 thousand.

Since then, it took about a month, and now the other circumstances are clarified. The fact that at the time of the meeting (January 11, 2016) Bill de Blasio did not know that after 4 days expires to special tax credits, which greatly simplifies the work of construction companies for the construction of these apartments. We are talking about 421a. This tax credit, through which developers can greatly simplify the process of building an inexpensive real estate.

Now, with the implementation of the plan conceived by the mayor had some problems. Major building companies say that without this tax credit will be extremely difficult to build properties on the terms that have been agreed to cancel 421a.

However, the municipality is trying to NYC has to find an alternative solution to this problem. As an alternative, it can be used by NYCHA. The fact that this is in complete control of the mayor jurisdiction. At the same time, NYCHA has in its possession a fairly large areas in various parts of the city. That is why using NYCHA's, can be carried out construction of real estate without obtaining permission from the state authorities. All feature is that it will be regarded as a special order, but not the state. In addition, NYCHA itself quite possibly be able to provide a special credit 420C, on behalf of the State of New York.

As I reported a few days ago one of the leaders of Management David Farber, have all the necessary base to NYCHA has been exempt from taxation in the order the construction of new facilities.