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Proposed MIH Plan (Mostly) Clear and Fair

NEW YORK CITY—A new set of tough rules put forth by the city lays out a mostly clear plan for new regulations on affordable housing, but one industry attorney calls the plan fair yet murky on some circumstances.

By Rayna Katz | Updated on September 22, 2015

NEW YORK CITY—The city has put forth a plan for mandatory inclusionary housing, with the promise that new rules would be on the books—pending the public approvals process—in about six months; or sometime in early 2016. The first MIH area being targeted by the program is East New York but, as Carl Weisbrod has stated in other forums, several other parts of the city are being targeted.

Put forth by the Dept. of City Planning, the newly proposed system would make the creation of affordable housing units a requirement for developers when creating residential buildings in areas zoned  for MIH, and that requirement would be permanent. Further, both the City Planning Commission and City Council would require developers building multifamily properties in every MIH area to make 25% or 30% of their projects into affordable units; the exact amount would be determined by those city government entities.”

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