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NYT Editorial Board: Scrap 421a


The NY Times has thrown its hat into the 421-a ring with an op-ed calling for the state legislature to cut the program altogether. The editorial board says Gov. Cuomo seems to want to preserve tax breaks as they are, and issues a challenge to him that now's the time to overhaul affordable housing laws, in the wake of a State government shake-up, with the arrest of state senate leader Dean Skelos. Mayor de Blasio hasn’t come out in favor of scrapping 421-a, but has advocated for other reforms like getting rid of a law that lets landlords take apartments off rent stabilization once they hit $2,500/month, which the Times says has led the loss of 300,000 affordable units. [NYT

Related Topics: Gov. Cuomo, 421-a