After Flailing In Albany, de Blasio's 421-a plan to be Scrutinized by City Council

Gov. Andrew Cuomo rebuffed New York City Mayor Bill de Blasio’s 421-a property tax abatement proposal last week, characterizing it as a “giveaway” for developers.  

Undeterred by Cuomo’s dismissal, New York City Council Committee on Housing and Buildings Chairman Jumaane Williams scheduled an oversight hearing to discuss the merits of the mayor’s already-presented plan.

Williams said city budget negotiations and other scheduling conflicts prevented the oversight hearing from occurring before today. Plus, he said people needed time to “digest” the 421-a revisions unveiled May 7 and pitched in Albany on May 27.

The councilman said he does not view any proposal as extinct until June 15, when the current 421-a program expires. Williams said state politicians charged with approving city tax initiatives should heed city lawmakers’ advice, but conceded that he was unsure if any state officials would attend today’s hearing.

“We have a job to do as members of the City Council to make sure we fully understand it, to help the public to fully understand it and then push for what we think is best,” Williams said. “There’s still a lot of questions about what the mayor’s plan does and doesn’t do. And I want to get some of those answers.”

The hearing’s timing seemed odd to former City Councilman Sal Albanese.

“We used to have oversight hearings before the Albany session … I don’t recall having any oversight hearings after it was declared dead on arrival in Albany,” Albanese said. “They [Council members] hold a lot of hearings for press value, rather than for substance.”

Williams would not say if he supports the mayor’s suggested 421-a revisions, which would require all recipients to make 25 to 30 percent of apartments affordable, instead of the 20 percent affordable threshold currently mandated in 16.5 percent of the city. De Blasio’s plan calls for barring condominiums from receiving the tax break. And it would extend the 421-a benefit period from 20 to 25 years to 35. The mayor did not include a prevailing wage mandate for those constructing 421-a projects, which has upset the AFL-CIO and was highlighted by the governor.

“I have concerns in general about it all,” Williams said. 

Williams said he was prepared to travel to Albany Wednesday and articulate his thoughts on rent regulations and other city housing issues.