NYC's Quinn Pushes Tax Breaks To Curb Middle-Class Rents

Law360, New York (February 11, 2013, 3:13 PM EST) -- New York City Council leader Christine Quinn on Monday proposed enticing landlords in high-rent neighborhoods to keep some of their units affordable for middle class residents in exchange for lower property taxes, vowing to push legislation in Albany.

The idea came as Quinn, running to replace Michael Bloomberg as mayor, delivered her 2013 State of the City address and issued a report showing the city's middle class population of 1.9 million, while growing in absolute terms, is shrinking compared to the city's total working-age population.

“It comes...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.