421-a(16) Affordable New York Housing Program Completion Extension - Letters of Intent

Buildings which intend to seek partial real estate tax exemption under New York State Real Property Tax Law Section 421-a Subdivision 16 are required to commence and complete construction, as those terms are defined by the law, by certain dates. On April 20th, 2024, New York State extended the date by which buildings can complete construction from June 15, 2026 to June 15, 2031, for projects that, among other things, submit a form created by the agency within 90 days of the agency providing such form to the public. This form includes owner reported data including, but not limited to, information about ownership, the reported number of dwelling units and affordable housing units anticipated to be included in the building and reported commencement dates and reported, anticipated completion dates.

旨在依据纽约州房地产税法第421-a节第16款申请部分房地产税减免的建筑，必须按照法律对“开始”和“完成”的定义，在特定日期内启动并完成建设。至2024年4月20日，纽约州将建筑完成建设的时间延长，由原定的2026年6月15日延长至2031年6月15日，此延长期适用于那些在机构向公众提供此类表格后的90天内提交表格的项目。该表格包含业主报告的数据，包括但不限于所有权信息、报告的住宅单元数量和预计将包含在建筑中的可负担性住房单元数量，以及报告的开工日期和预计的完工日期。