Experts Say Development Will Slow Without ‘421-a’ Program

Mitch Korbey was quoted in New York Law Journal regarding the recent expiration of property tax abatement program 421-a and whether it could affect affordable housing construction in New York City. Korbey said he hoped state lawmakers renewed the program, calling it "critical" to the city's affordable housing agenda and noting that while certain zoning rules could accomplish a lot for affording housing goals, the city requires a "multi-pronged comprehensive effort.”