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The NYC Department of Housing Preservation and Development (HPD) has released the Letter of Intent for developers to apply for the 421-a(16) Tax Exemption program's recently approved construction completion deadline  extension.

This is an important deadline for any project opting in to the 421-a(16) Tax Exemption program with the anticipated construction completion date between June 16, 2026 and June 15, 2031

Applicants must submit the Letter of Intent to HPD no later than September 12th, 2024. This form serves to notify HPD of the developer's intent to apply for 421-a Tax Exemption utilizing the recently approved construction completion extension up until June 15, 2031