The Daily Dirt: A tax exemption for rent-stabilized portfolios hasn’t been so helpful

In New York City, millions of New Yorkers apply to the Housing Preservation and Development for the slim odds of scoring an affordable apartment. But those odds are still better than those for rent-stabilized buildings applying to HPD for financial relief. In November, HPD deferred every application for an Article XI property tax exemption under its Housing Preservation Opportunity program until February, citing project capacity, according to an e-mail exchange shared with The Real Deal. The agency said in the email exchange that it received over 75 applications in the fall and will select a limited number of projects in […] This article originally appeared on The Real Deal. Click here to read the full story.