'' New York Acorn
ORG
New York Acorn Acorn '' New York Acorn
In a report to be released, New York Acorn, a community group, argues that the city's most popular tax-incentive program, known as 421-a, is not only not generating much moderately priced housing in places like Downtown Brooklyn but is, in effect, subsidizing a lot of expensive housing in gentrifying neighborhoods. The group, which claims 36,000 low and moderate-income families as members, wants the city to change the program to require that all developers receiving these tax breaks for building apartments in much of Downtown and central Brooklyn make 30 percent of all new units affordable to people of modest means. New York Acorn, which successfully pressured the Forest City Ratner Companies to include mixed-income housing in its 9.1 million-square-foot Atlantic Yards project in Brooklyn, looked in its new report at 87 housing development projects in various Brooklyn neighborhoods starting at the Brooklyn and Manhattan Bridges and extending toward Prospect Park.