Manhattan city commissioners on Tuesday will consider three applications to finance housing developments using tax incentives.
The applications are for reinvestment housing incentive districts, and commissioners also will look at an industrial revenue bond for a seven-unit town home on the vacant lot at 827 Moro St.
An RHID is a program to help developers pay to build housing by returning the incremental property tax increases to the developers as reimbursement for the cost of putting in public infrastructure. The city in August approved two RHID policies, one for infill housing and one for greenfield development, or housing projects on land without already existing public infrastructure.three RHIDs applications at Tuesday’s meeting along with an IRB for a seven-unit town home on the vacant lot at 827 Moro St.
