AIANY Letter to Majority Leader Stewart-Cousins and Speaker Heastie on FY25 State Budget
AIA New York letter to Majority Leader Andrea Stewart-Cousins and Speaker Carl Heastie expressing support for a number of housing and sustainability policies and encouraging their inclusion in the Fiscal Year 2025 New York State Budget. AIANY urged their consideration of the following recommendations during the final stages of budget negotiations.
Recommendation #1: Enable and Incentivize Office to Residential Conversion
- Eliminate the FAR cap and give NYC the authority to determine FAR
- Tax incentive for office to residential conversion with affordable units
- Extend date in the Multiple Dwelling Law that conversions are permitted from 1961 to 1990
Recommendation #2: Create Tax Incentive Program for Affordable Housing Production
- Extend the project completion deadline for vested projects in 421a
- Create a new tax abatement program for affordable housing construction
Recommendation #3: Legalize and Incentivize ADUs
- Tax incentive for accessory dwelling units
- Give NYC authority to legalize and create an amnesty program to convert basement units to legal dwelling units
Recommendation #4: Eliminate the 100 Foot Rule in the Public Service Law
Recommendation #5: Incentivize Energy Efficiency Retrofits
- Whole Building Initiative
- GREEN Buildings Act