Affordable housing gets boost in West Side plan.City Council Speaker Gifford Miller Alan Gifford Miller (born November 6, 1969) is the former Speaker of the New York City Council, where he represented Council District 5. Barred from seeking reelection due to term limits, the Democrat ran in the Democratic primary for the opportunity to run against incumbent announced details agreed upon Adj. 1. agreed upon - constituted or contracted by stipulation or agreement; "stipulatory obligations" stipulatory noncontroversial, uncontroversial - not likely to arouse controversy between the City Council and Administration regarding the rezoning and financing of Manhattan's far West Side. Included is an increase of affordable housing, from a proposed 19 percent to 28 percent and a restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). of financing that will save the City up to $1 billion. The number of affordable housing units now stands at over 3,000 new units and over 400 preserved units. The housing will be secured through a combination of 80/20 and the expansion of the 421-a exclusion zone A zone established by a sanctioning body to prohibit specific activities in a specific geographic area. The purpose may be to persuade nations or groups to modify their behavior to meet the desires of the sanctioning body or face continued imposition of sanctions, or use or threat of . The Council secured that for all 80/20 units used with the inclusionary housing bonus, the affordable units are permanently affordable. This initiative is the first of its kind. A new $40 million fund will be allocated for affordable housing in the rezoned area and Citywide. Additionally, the Council secured a reduction in commercial density for the area, including a 1,050,075 s/f (14 percent) reduction along llth Avenue from 36th Street to 41st Street. |
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion