May 25, 2015
William Mulrow, the secretary to Governor Andrew Cuomo, has been tasked to broker a deal to renew the controversial 421-a tax breaks. Mr. Mulrow has ties to the real estate industry.
Governor Andrew Cuomo (D-New York) has tasked his secretary, William Mulrow, to broker a deal to renew a controversial tax abatement program favored by luxury condominium real estate developers.
The tax abatement program, known by the section in state law where it exists, is often referred to as 421-a. It provides owners of new developments with an exemption from local property taxes.
Mr. Mulrow's task was revealed in a report written by the columnist Fredric Dicker and published in The New York Post.