Gov. Kathy Hochul Lays Out Replacement 421a (Getty Images, iStock, Illustration by Kevin Cifuentes for The Real Deal)

Alvin Schein was interviewed by a reporter from The Real Deal for this article, which is about Governor Hochul’s proposal for a replacement for 421-a that includes a 40 year real estate tax exemption for 100% affordable newly constructed co-op’s and condominiums, which is a vast improvement over the home owner provisions of the current 421-a program. If adopted, this exemption could be combined with HPD or HDC subsidy programs in order to achieve greater affordability for home ownership offerings.

Read the article here