The New York City Department of Housing Preservation & Development (“HPD”) has a hearing scheduled on October 15, 2013 to vote on proposed changes to the J-51 Regulations. Among the proposed changes is the removal of numerous items previously eligible for the J-51 Tax Benefit.  In addition, the proposed regulations give different amounts of benefits to eligible cooperative and rent stabilized buildings.

For more information, please see the Notice of Public Hearing.