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Published 16 days ago

New York lawmakers pass $237 billion budget with policies to jump-start housing market

  • New York lawmakers are close to finalizing a $237 billion budget addressing housing, closing unlicensed cannabis shops, and handling the city's migrant crisis.
  • The focus of the budget is to address New York City's housing shortage and high prices by providing tax breaks for developers to include affordable apartments in new buildings.
  • The budget also includes measures to convert vacant office space into apartments, build on state-owned land, and combat unlicensed marijuana shops.
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