De Blasio’s 421-a Plan Could Drive Another Deal Rush
Jennifer Dickson was quoted in a Law360 story about New York City Mayor Bill de Blasio's plan to extend the 421-a residential development tax incentive that encourages the construction of affordable housing. The mayor's proposal would extend the existing program from June to the end of 2015 before a more substantive overhaul can get passed. "If we see the deadline has been moved from June to December, I'm sure there will be another rush of people trying to get in under the rules they know," Dickson said. "There is still a good question on the table as to what will happen with Albany. It's good to have some direction at this point and it would be great to have the state's proposal as well."