affordable new york

Under the rules of the updated 421-a program, units in the housing lottery don't have to be set aside for the likes of nearby residents, the homeless or municipal employees.

The budget included a rebranded extension of the 421-a tax abatement program that's not tied to the expiration of rent regulation laws.

A provision of the proposed 421-a replacement would make it easier for landlords to take apartments out of rent stabilization.

After reaching a deal to renew the 421-a tax break, Governor Cuomo's office also re-branded it as "Affordable New York."