Gov. Kathy Hochul finally provided some details about her proposed revamped property tax break and carve-outs for housing projects in New York. As part of her executive budget, the governor has pitched reforming the State Environmental Quality Review Act, or SEQRA, and the property tax abatement known as J-51. On the former, housing projects in the city would be exempt from environmental review if: — They have 250 or fewer units, if located in a low-density district. — They have 500 or fewer units, if located in a medium- or high-density district. Such projects, however, still must go through review […]
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