NYC Mayor Adams’ Housing Deputy Makes Four Asks of NY State Lawmakers

Deputy Mayor for Housing Maria Torres-Springer told a recent State Assembly joint committee hearing on affordable housing, “We aren’t building enough housing. If you want to help renters, you need to build.” Torres-Springer then laid out 4 legislative areas that Mayor Adams’ team is seeking help from Albany lawmakers: restoring a version of 421-a tax breaks for developers, funding for office-to-housing conversions, lifting the so-called “FAR” (floor area ratio) cap to build more housing in high-density neighborhoods, and new tax incentives for safely converting basements into rental apartments. Your NYSAR and LIBOR Government Affairs teams will continue to work together monitoring all future legislation.