NY Nears Deal for Housing Policy With Tenant Protections, Developer Tax Breaks
- Tentative deal aims to grow New York City’s affordable housing
- Governor Hochul says deal will also address cannabis, migrants
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New York lawmakers agreed to the most sweeping changes in New York housing policy in years in a $237 billion budget deal, Governor Kathy Hochul said Monday.
The tentative spending plan — described cautiously by the governor as the “parameters of a conceptual agreement” — includes a tax break for affordable-housing construction alongside new restrictions on evictions and rent increases for market-rate renters. Details of the budget, which was originally due April 1, are subject to change before final approval.