Cuomo tries to revive 421-a

Gov. Andrew Cuomo has offered developers and union officials a wage subsidy for construction workers in the hopes of reviving the expired 421-a tax abatement program, which gave tax breaks to developers in exchange for affordable housing construction. The governor’s proposal would set a two-tiered minimum wage for projects of 300 apartments or more in Manhattan and on the waterfront in Brooklyn and Queens. More on this story can be found here.