Real-estate donors who gave big to Gov. Hochul could soon reap 421a tax breaks
“As the state budget takes shape, it will be obvious if the tax dollars going out have been influenced by the donations coming in. This is the business-as-usual approach that Albany has become notorious for.”
Hochul unveiled the 421a extension along with her proposed spending plan at the state Capitol on Feb. 1 ahead of the April 1 state budget deadline.Luxury developers Tactonic Partners, Rockrose Development, Fentner Partners, Moinian Group, Charney and Midtown Equities are touting a range of amenities in buildings qualifying for the affordable housing tax break – including a pet spa and stroller parking at 200 Montague Street in Brooklyn.
A spokesperson for the Cayler family connected to 200 Montague Street said the family “never discussed” the property tax break with Hochul, though it donated $415,000 to her campaign, according to public records. “It’s a huge waste of money,” McKee said while noting “we held our nose” by reluctantly supporting Hochul’s election against Republican Lee Zeldin, who“It’s just crazy. It’s just utterly nuts,” McKee added.
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