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Principles to Guide an Improved Tax Exemption to Secure New Rental Housing: Fostering Affordability and Equitable Development in New York
This brief explores how the 421-a exemption has affected both the production of multifamily rental apartments and the availability and location of affordable housing in recent years. It then articulates five central principles that can guide discussions about whether the exemption should be renewed and if so, how it should be restructured.
