New tax incentives for owners of Mitchell-Lama housing announced. From: Real Estate Weekly | Date: April 25, 2007 | COPYRIGHT 2007 Hagedorn Publication. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group.Copyright information

Mitchell-Lama building owners who rehab their properties or replace building-wide systems will qualify for extra tax incentives under two new bills singed into law by Mayor Michael Bloomberg this week.

The bills expand the City's ability to provide incentives to encourage Mitchell-Lama developments to remain as a source of affordable housing.

The first bill allows Mitchell-Lama developments to be eligible for the J-51 tax benefit even if the renovation work ne...