City Staff Ideas Challenge
#nycspeaks2022 Share your ideas for bold actions the Mayor should take
Incentive for Small Landlords to Keep Rents Low
Create a tax incentive for small landlords to keep rents below market. Keep it simple. We need tools that regular people can use, not just developers. Capital "A" Affordable units are great, but they are too few and far between. Current tax abatements (J-51) were designed at a time when NYC was trying to encourage investment in old buildings. We don't need to tie all of our tools to investment or development. Let's just give small landlords a tax break if they keep rents low.
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