Housing At Risk Task Force (HART) – 421-a Completion of Construction Deadline Assistance Program
December 18, 2023On December 6, 2023, New York City Mayor Eric Adams announced the creation of the “Housing at Risk Task Force”, or HART, which aims to provided assistance to real estate developers of projects that are working to complete construction and obtain a certificate of occupancy prior to the June 15, 2026 Affordable New York 421-a(16) Program deadline.
The goal of HART is to foster interagency communication between the Office of the Mayor, the Department of Buildings, the Department of Environmental Protection, Department of Housing Preservation and Development, the Department of City Planning, the Fire Department, the Mayor’s Office of Environmental Remediation, and the Department of Transportation.
Specifically, HART will:
- develop and implement a process to increase the likelihood that at-risk projects meet the June 15, 2026 deadline;
- formulate a schedule of critical milestones that each at-risk project should satisfy;
- track the progress of each at-risk project in achieving critical milestones;
- streamline communications among the various New York City agencies to facilitate timely approvals; and
- meet regularly to discuss the status of at-risk projects and facilitate interagency communication regarding the issuance of certificates of occupancy for at-risk projects.
HART, which was created pursuant to Executive Order #38, seeks to ensure up to 50 projects stay on schedule to meet the June 15, 2026 deadline.
Interested developers may complete and submit a pre-application here: Delivering Affordable New York Pre-Application Form - Formstack.
For more information on real estate or real estate tax incentive matters, please contact:
Brett J. Gottlieb at 212 592 1455 or [email protected]
Mitchell A. Korbey at +1 212 592 1483 or [email protected]
Patrick J. O'Sullivan, Jr. at 212 592 1503 or [email protected]
© 2023 Herrick, Feinstein LLP. This alert is provided by Herrick, Feinstein LLP to keep its clients and other interested parties informed of current legal developments that may affect or otherwise be of interest to them. The information is not intended as legal advice or legal opinion and should not be construed as such.