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Tax Incentives New York

Akerman LLP - HR Defense

New York City's Commercial Real Estate Tax Industrial and Commercial Abatement Program Extended to 2030 With Modifications

The New York City Industrial and Commercial Abatement Program (ICAP) has been extended to remain in effect through 2030, with some modifications. The New York state budget bill for FY 2026, signed by Governor Kathy Hochul on...more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 3 of 4)

Cole Schotz on

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Farrell Fritz, P.C.

Tax Incentives Aim to Drive Real Estate Development Forward

Farrell Fritz, P.C. on

It has long been an accepted reality that very little real estate development gets done in New York State without the help of a myriad of tax incentive packages handed out by state and local governments—and the entities that...more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 1 of 4)

Cole Schotz on

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Akerman LLP

New York’s 421-a (16) Program Extension

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To address the ongoing need for affordable housing in New York, Governor Hochul and the state legislature have passed additional incentives to spur affordable housing development....more

Harris Beach Murtha PLLC

Calling Out Affordable Housing Components of New York Budget Bill

A number of affordable housing components of the New York State Budget Bill are worth calling out for developers, as the moves, along with the hundreds of millions of dollars coming from the state, should spur development. ...more

Akerman LLP

Extension of Incentive Programs in New York State’s 2024 Budget

Akerman LLP on

On May 1, 2023, the New York State Legislature voted to adopt the Fiscal Year 2024 budget which included the renewal and extension of the sunset date of five programs that abate real estate taxes, reduce commercial rent tax,...more

Cadwalader, Wickersham & Taft LLP

New York Congressional Delegates Urge Governor Hochul to Include Additional Clean Energy Provisions in Executive Budget

Several members of the New York congressional delegation have written a letter urging Governor Kathy Hochul to amend her fiscal year 2024 budget to incorporate certain elements of the New York Build Public Renewables Act...more

Herbert Smith Freehills Kramer

Governor Hochul Releases Revisions to 421-a Program

Gov. Kathy Hochul this week released a proposed revision to the 421-a “Affordable New York” program, in connection with her FY2023 Executive Budget proposal. The new program would be known as the “Affordable Neighborhoods for...more

Rivkin Radler LLP

New York Is Getting Out Of The Zone, The Qualified Opportunity Zone, That Is

Rivkin Radler LLP on

New York’s Governor Cuomo is having a bad 2021. Some may attribute this to his hubris or to karma; others may point to an emboldened, and now veto-proof, progressive State Legislature; many will claim that Mr. Cuomo is paying...more

Herbert Smith Freehills Kramer

Mayor de Blasio Proposes Zoning Changes Intended to Promote the City’s Recovery

On March 9, 2021, Mayor Bill de Blasio announced a series of proposed citywide zoning text amendments intended to incentivize the creation of local grocery stores, boost transit station accessibility, and ease administrative...more

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