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
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 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
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
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
9/2/2022
/ Biden Administration ,
Department of Energy (DOE) ,
Energy Sector ,
Energy Tax Incentives ,
Environmental Justice ,
Hydrogen Power ,
Inflation Reduction Act (IRA) ,
Investment Tax Credits ,
Production Tax Credit ,
Renewable Energy ,
Solar Energy ,
Wind Power
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
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
1/10/2019
/ Amended Rules ,
Department of Environmental Conservation ,
Energy Conservation ,
Environmental Impact Report (EIR) ,
Environmental Review ,
Green Infrastructure ,
Sewer Systems ,
State and Local Government ,
Sustainable Communities Strategy ,
Urban Planning & Development ,
Water Conservation
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
10/25/2018
/ Capital Gains ,
Community Development ,
Internal Revenue Code (IRC) ,
Investment Funds ,
IRS ,
Low Income Housing ,
Opportunity Zones ,
Proposed Regulation ,
Qualified Opportunity Funds ,
Real Estate Development ,
Real Estate Investments ,
Tax Cuts and Jobs Act ,
Tax Deferral ,
U.S. Treasury
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
1/30/2018
/ Biofuel ,
Brownfield Properties ,
Electric Vehicles ,
Environmental Remediation Costs ,
Governor Cuomo ,
Green Buildings ,
Historical Rehabilitation ,
Low Income Housing ,
Proposed Legislation ,
Real Estate Development ,
Tax Credits ,
Tax-Deferred Exchanges
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