In the fall issue of The Real Estate Finance Journal, Katten Real Estate Partners Martin Siroka and Scott M. Vetri discuss a Term Sheet released by New York City's Department of Housing Preservation and Development.
The Term Sheet covers the requirements and benefits of the city's Housing Opportunities Program, which offers attractive real property tax exemptions for multifamily projects.
Martin and Scott, chair of the New York Real Estate Practice, discuss the program's terms, requirements for eligibility, regulatory exemptions and tax exemption benefits under the state's Private Housing Finance Law (Article XI).
The article, "New York City's Article XI Real Property Tax Exemption Program: Providing Attractive Real Property Tax Benefits for Multi-family Properties," can be found in the Fall 2021 issue of the The Real Estate Finance Journal.
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