Developers who stand to gain from Inwood’s reinstated rezoning may have celebrated too soon. After an appellate court unanimously upheld the city’s rezoning of Inwood, affordable housing budget cuts could stand in the way of new projects, according to Crain’s. The Department of Housing Preservation and Development is set to have its budget slashed by 40 percent amid a severe revenue crunch, which is estimated to cost the city 21,000 affordable apartments over the next
source https://therealdeal.com/2020/07/28/inwood-rezoning-faces-new-challenges-in-hpd-budget-cuts/
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