Matter of Regina Metro. Co., LLC v. New York State Div. of Hous. & Community Renewal, 2018 NY Slip Op 5797 (2018)

Citation: Matter of Regina Metro. Co., LLC v. New York State Div. of Hous. & Community Renewal, 2018 NY Slip Op 5797 (2018)
Parent Document: Matter of Regina Metro. Co., LLC v. New York State Div. of Hous. & Community Renewal, 2018 NY Slip Op 5797 (2018)
Jurisdiction: New York (state)
Effective Date: 2018-08-16
Original Source: https://www.courtlistener.com/opinion/4527194/matter-of-regina-metro-co-llc-v... ↗

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Footnote 6: In New York City, multiple dwellings may qualify for tax incentives designed to encourage rehabilitation and improvements (see Administrative Code NY § 11-243 [formerly § J51-2.5]). The City's J-51 program, authorized by Real Property Tax Law § 489, allows property owners who complete eligible projects to receive tax exemptions and/or abatements that continue for a period of years (see Administrative Code § 11-243[b][2], [3], [8]; 28 RCNY 5-03[a]). Rental units in buildings receiving these exemptions and/or abatements must be registered with the Division of Housing and Community Renewal (DHCR), and are generally subject to rent stabilization for at least as long as the J-51 benefits are in force (see 28 RCNY at 5-03[f]). Footnote 7:Taylor was issued a year later, on May 25, 2017.

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