Tuesday, February 23, 2010

Are doubts about Atlantic Yards affordable housing one piece of Bloomberg's revised housing goal?

The Daily News reported yesterday on Mayor Mike Bloomberg's affordable housing plan:
Gone is the mayor's first-term goal of creating 92,000 affordable units and preserving 73,000.

The 2014 goal in a report Bloomberg plans to release Monday is now 60,000 new units and 105,000 preserved.
Surely the delayed and more doubtful plan for Atlantic Yards affordable housing plays a small role in those calculations.

AY changes

Recall that 2250 units of subsidized housing were supposed to be built in a decade--and when the project was approved by the state in December 2006, the target was 2016.

Now the the deadline is 25 years, not ten, the penalties for individual building delays are modest, and an Affordable Housing Subsidy Unavailability can be claimed for up to eight one-year periods--all part of what Noticing New York's Michael D.D. White deems a modest option renewal fee.

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