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New York IDAs Now Required to Consider Onsite Child Care in Project Review

New York Gov. Kathy Hochul recently approved legislation requiring industrial development agencies (IDAs) to consider the extent to which a project provides onsite child care facilities as a criteria in their Uniform Tax...more

New York Board Continues Quest to Calculate Value of Future Tax Savings

At its December 2024, quarterly meeting (the “Meeting”), the NYS Public Subsidy Board (the “Board”) continued its May 20, 2024, public hearing on calculating the value of future tax savings, such as tax abatements, tax...more

New York State Announces $140 Million in Funding for Public Broadband Infrastructure

New York State Governor Kathy Hochul, U.S. Senate Majority Leader Chuck Schumer, and U.S. Senator Kirsten Gillibrand recently announced the award of $140 million to expand public broadband infrastructure in six New York...more

11/25/2024  /  Broadband , Infrastructure , New York

NY Public Subsidy Board to Hold Hearings on Development Projects

New York’s Public Subsidy Board (the “Board”) recently decided to hold public hearings related to development projects throughout the state, while also changing an internal policy to allow it to reconsider prior project...more

Inflation Reduction Act to Energize Renewables and Energy Transition Projects

The Inflation Reduction Act of 2022 (the “IRA”), signed by President Biden into law on August 16, promises to further invigorate an already booming sector of the economy – the renewables industry and energy transition sector....more

NYS Department of Environmental Conservation Issues COVID-19 Guidance on Environmental Cleanups and Brownfields

With the deepening of the COVID-19 crisis, the NYS Department of Environmental Conservation (“DEC”) has issued guidance addressing “numerous” questions it has received concerning the potential impact of Executive Order 202.6...more

Amendments to State Environmental Quality Review Regulations Became Effective January 1

To ensure that New York state agencies and local governments can meaningfully assess the environmental impact of proposed projects, the State Environmental Quality Review regulations received substantial amendments this year....more

IRS Issues Proposed Regulations and Guidance on Opportunity Zones

On October 19, the IRS and Treasury Department issued long-awaited proposed regulations, Revenue Ruling 2018-29 (the “Revenue Ruling”), and draft forms regarding the Opportunity Zone program to encourage private investment in...more

Governor's Proposed Suspension of Tax Credits Could Stall Real Estate Development

Governor Cuomo’s recently released Executive Budget may not be well received amongst those planning on redeveloping urban areas, restoring historic structures, remediating contaminated real property or proposing affordable...more

FOIL Request Denials Could Come with a Cost to NYS Agencies and Municipalities

State agencies and New York State municipalities must have a reasonable basis to deny Freedom of Information Law (“FOIL”) requests or they will be subjected to mandatory attorney’s fees when a denial is successfully...more

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