Ken Fisher discusses New York City’s Mandatory Inclusionary Housing as the “option 2” affordability tier is at risk of being eliminated from the program in The Real Deal.
Passed in 2016, the Mandatory Inclusionary Housing (MIH) program provides developers with flexibility. Affordable housing tiers allowed for a more inclusive approach in contrast to a one-size-fits-all policy that would result in economic controversy regarding the locations of unsubsidized housing. Statistics show that the removal of option 2 has been a trend in numerous recent projects.
“The idea of options was written into MIH to account for local preferences, but we’re at a point in time where the focus has been on people on the lower end of the economic spectrum. There is a lot of political pressure to make the income restriction as low as possible,” Ken stated.
To read more, click here. (Subscription required)
About Cozen O’Connor Public Strategies
Cozen O’Connor Public Strategies, an affiliate of the international law firm Cozen O’Connor, is a bipartisan government relations practice representing clients before the federal government and in cities and states throughout the country. With offices in Washington D.C., Richmond, Albany, New York City, Philadelphia, Harrisburg, Chicago, and Santa Monica, the firm’s public strategies professionals offer a full complement of government affairs services, including legislative and executive branch advocacy, policy analysis, assistance with government procurement and funding programs, and crisis management. Its client base spans multiple industries, including healthcare, transportation, hospitality, education, construction, energy, real estate, entertainment, financial services, and insurance.
About Cozen O’Connor
Established in 1970, Cozen O’Connor has over 775 attorneys who help clients manage risk and make better business decisions. The firm counsels clients on their most sophisticated legal matters in all areas of the law, including litigation, corporate, and regulatory law. Representing a broad array of leading global corporations and middle-market companies, Cozen O’Connor serves its clients’ needs through 31 offices across two continents.
Explore Articles and News
See All News-
Pennsylvania Perspective for Thursday, July 25, 2024
July 25, 2024
Pennsylvania Additional Dollars for Home Repair Initiative Absent From PA Budget Several Pennsylvania counties have exhibited high demand for a state-funded program that helps...Read More -
Broad Street Brief: Philadelphia Needs Teachers
July 25, 2024
City Hall City Leaders Gather to Decry Violence in Wake of West Philadelphia Mass Shooting A mass shooting in West Philadelphia claimed the lives of three...Read More -
Illinois Insights: An Update from Cozen O’Connor (7/24)
July 24, 2024
ILLINOIS | AROUND THE STATE Governor Pritzker and the Illinois Housing Development Authority Announce 2024 Affordable Housing Tax Credit Developments “Governor JB Pritzker and...Read More