Schleicher Work Cited in Article on Affordable Housing in NYC
Professor David Schleicher's work was cited in an article dealing with the high cost of housing in New York City and what some of the solutions to that problem might be.
The article's author, Brandon Fuller, research scholar and deputy director at the NYU Stern Urbanization Project, had this to say about the application of Schleicher's ideas to New York City's problems:
To ease the way for more new housing, New York should also adopt law professors Roderick Hills and David Schleicher’s idea for a zoning budget. Here’s how it works: the mayor proposes a targeted plan for yearly growth in housing supply, and the city council gets an up-or-down vote. This would focus the council on the city’s overall housing needs, not the “not-in-my-backyard” demands that tend to follow specific proposals. Once the plan is approved, the city works with developers to meet housing-growth targets for the year. Until the target is met, down-zonings—reductions in permitted neighborhood densities—are prohibited. Once the city reaches the target, down-zonings can resume, but they must be offset by up-zonings elsewhere, thereby ensuring net increases in the housing supply.
New York can also make use of Schleicher’s idea for “tax increment local transfers,” or TILTs, which use tax revenue generated by new development to compensate neighbors, existing residents, or opponents of a project. If a community board approves a new project in its district, property owners get a tax rebate equal to some percentage of the project’s expected future contribution to the tax base. TILTs weaken community boards’ incentives to derail projects that would otherwise help to make housing more affordable citywide.
A More Affordable New York, City Journal, October 6, 2013. By Brandon Fuller.