COPA on the way, J-51 preps comeback in Council’s broad housing push
New York City is in for a raft of new housing laws that include COPA and a revival of the J-51 tax abatement. Lawmakers on the Committee on Housing and Buildings held an oversight hearing Wednesday about a wide range of housing initiatives, including J-51 reauthorization and the Community Opportunity to Purchase Act, which has already garnered the requisite support to pass in the coming weeks and would give nonprofit and tenant groups the right of first refusal when distressed multifamily buildings go up for sale. Both bills will head to a vote where they are expected to receive widespread […]
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