Housing Subsidy Panel Nears End of Beginning

Mayor Bloomberg’s task force studying the future of the 421a tax exemption (which many luxury condo buildings in Tribeca and downtown Brooklyn have been able to take advantage of) is expected to receive the Administration’s recommendations tomorrow at its final meeting. The proposed changes that result will be then thrown to the wolves–that is, to the many politicians, lobbyists and activists who are promising to make this policy debate an occasion of much hobnobbing, grandstanding, horse-trading and, of course, principled position-taking in the coming months.

First up: State Assembly Member Vito Lopez, whose central role in this we wrote about before, holds a press conference at noon tomorrow with other state legislators, City Council Members, and Borough Presidents with their demands to turn what started in the 1970s as an incentive to get anybody to build anywhere into an affordable housing program.

Matthew Schuerman