Solution for Education: Encourage developers to build new schools by creating a 421-e tax abatement for new construction.

0
Your rating: None
Issue: 
Education
Solution: 
Encourage developers to build new schools by creating a 421-e tax abatement for new construction.
Explanation: 

The 421-a tax incentive for developers who integrate affordable housing within certain exclusion zones has become a new model of success. This same model could be expanded to a 421-e, with an "e" for education, to allow developers an option to gain the same tax incentives for including space for a public school on the site of new construction that is within a school district that is certified as "overcrowded" by the Department of Education. The developer wins by attracting families that might not otherwise be interested in the new development due to overcrowding, the Department of Education wins from new class room seats at low cost in a City without much land, and parents and students win from having smaller class sizes.

Source: 
Former New York City Public Advocate Mark Green, "Change for New York: 100 Ideas for a Better City," 2009.
Organization: 
Mark Green for New York Public Advocate

Post new comment

The content of this field is kept private and will not be shown publicly.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
Image CAPTCHA
Enter the characters shown in the image.