FOR IMMEDIATE RELEASE
Friday, May 12, 2000
| Contact: | Sunny Mindel/Edward Skyler (212) 788-2958 |
The next bill before me, Introductory Number 667, sponsored by Council Member Spigner, amends the Administrative Code of the City of New York to ensure that the 421-a program remains in effect. Without the local passage of this extender, the ability to utilize this crucial tax incentive program would sunset on July 1, 2000. The State extender of this program, which was a program bill of my Administration, previously passed the State Legislature and was signed into law by the Governor in July of 1998.
I strongly support both the expansion and the extension of this extremely successful program which will serve to increase the stock of affordable housing throughout New York City.
For the reasons previously stated, I will now sign the bill.
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